- Erie Strategic Ventures’ will focus on a variety of areas that include insurance innovation in risk avoidance, claims, underwriting, digital sales and agency productivity tools
- The firm will focus mostly on early-stage investments in North America
- Erie Insurance was founded in 1925
Erie Insurance, an auto, home, business and life insurance company based in Erie, Pennsylvania, has formed its new venture capital arm, Erie Strategic Ventures.
Erie Strategic Ventures will back “visionary entrepreneurs.” Erie Strategic Ventures’ will focus on a variety of areas that include insurance innovation in risk avoidance, claims, underwriting, digital sales, agency productivity tools, and products and services for home, families and small businesses. The fund is stage and geography agnostic but will focus primarily on early-stage investments in North America.
“We are excited to build upon our expanding innovation efforts with the launch of this venture fund,” said Keith Kennedy, senior vice president for Next Level Innovation at Erie Insurance, in a statement. “Erie Insurance is committed to a culture of service and our corporate values will translate well into supporting the founders we invest in.”
Erie Insurance was founded in 1925.
Erie Strategic Ventures will partner with Touchdown Ventures, a firm specializing in corporate venture capital, which will work closely with senior executives at ERIE on fund operations.
Touchdown Ventures partners with corporations to manage their venture capital programs. Touchdown maintains offices in Los Angeles, Philadelphia, and San Francisco.