We are excited to launch a new feature of the Corporate Venture Connection to introduce the newest corporate venture members of the NVCA. Over the past few months, NVCA has welcomed Baxter Ventures, Munich Re/Hartford Steam Boiler Ventures, The Vitamin Shoppe, Presidio Ventures and McKesson Ventures to our membership.
This month, we reached out to Matt McElhattan, Investment Director of Munich Re/HSB to learn more about their model. MunichRe / Hartford Steam Boiler Ventures invests in and partners with innovative companies to develop growth opportunities for Hartford Steam Boiler and Munich Re.
Munich Re is the world’s largest reinsurance company, with a global platform spanning all aspects of primary insurance and reinsurance. Hartford Steam Boiler is a leader in equipment breakdown insurance and coverage for renewable energy and cyber security, as well as engineering-based risk management for businesses, homes and farms.
CVC: When did your CV group launch and in which industries does your group focus?
McElhattan: Munich Re/ HSB Ventures launched in December 2014. Our current areas of focus are the new insurance business models, internet of things, cyber security, energy, and big data / analytics.
How does your firm define your unique value to entrepreneurs?
McElhattan: The Munich Re / HSB Ventures team is comprised of experienced CVC professionals, and as the world’s largest reinsurer we have tremendous scale and resources to bring new technologies, services and business models to clients (primary carriers) and their end customers around the world, including being the largest insurer of equipment and reinsurer in agriculture.
We work with almost all of the major primary carriers so our portfolio companies gain access to a broad network of companies to distribute their technologies.
As a final note, the Munich Re / HSB Ventures team is hiring an Investment Associate. Visit our Job Openings page to learn more.