Nationwide is committing over $100m to the future of insurance and financial services, to help stay ahead of consumer needs.
The firm plans to invest in companies which help members with retirement, meet insurance and financial needs in new ways, protect their data and digital assets, and those that protect the members in mobility.
Nationwide CEO Steve Rasmussen said, ?Nationwide core mission is to deliver value for our members by protecting what important to them. This organizational change allows us to focus on emerging businesses and invest in startups that align to that mission. At the same time, we want to anticipate the future needs of our members and improve current processes and offerings to remain best in class.p>
The firm has already made investments in the area with it helping the launch of Guaranteed Retirement, the implementation of Amazon Alexa with SmartRide and a strategic partnership with Sure. Nationwide Ventures also launched last year and has backed six companies trying to change the insurance and financial industry.
Next month Scott Sanchez will join Nationwide as Chief Innovation Officer, where he will drive venture capital, business innovation, and incubation.
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