Erie Insurance launches venture capital fund to advance innovation

Erie Strategic Ventures will invest and provide business support to start-ups focused on the insurance industry and related areas

ERI, Pa., Oga. 25, 2022 /PRNewswire/ — Erie Insurancean auto, home, business and life insurance company that is in business Erie, PAtoday announced the launch of Erie Strategic Ventures helping visionary entrepreneurs. This coin is a recent example of Pictures of ERIE committed to supporting the business and providing innovative products, services and experiences to its customers with a network of independent agents.

Erie Strategic Ventures’ focus will be on personal and commercial insurance and related natural resources that provide opportunities to provide value to ERIE customers and suppliers. Primary areas of interest include risk insurance, claims, underwriting, digital marketing, corporate design, and home, family and small business products and services. The fund is stage and geography agnostic but will focus on early stage investments North America.

“We are excited to further our expertise in setting up a venture fund,” he said Keith Kennedy, Vice President of Next Level Innovation at Erie Insurance. “ERIE we are committed to a culture of service and our corporate values ​​will evolve to better support the startups we invest in. “

Erie Strategic Ventures is the parent company of Erie Insurance, a Fortune 500 insurance company that created. $7.9 billion in premium written directly in 2021. Founded in 1925, ERIE It is the 11th largest home owner insurance, the 13th largest car insurance and the 13th largest commercial lines of insurance based on directly registered premiums. ERIE it is rated A+ (Superior) by AM Best and has over 6 million active points.

In addition to the capital, Erie Strategic Ventures will succeed Pictures of ERIE corporate leadership and value proposition for financial services companies. With nearly 100 years of insurance expertise, ERIE has the ability to serve as a customer and development partner in the startup. ERIE will seek to partner with startups to bring new products and services to the market, expand a strong independent network in 12 states and Washington DC

Erie Strategic Ventures will partner with them Touchdown actiona company that specializes in small businesses, that will work closely with senior executives on ERIE for fund activities.

“We are excited to partner with a quality-driven company like Erie Insurance that has the scale, resources and ability to make a positive impact on businesses,” he said. Rich Grant, co-founder and managing director of Touchdown Ventures. “Our joint venture, Erie Strategic Ventures, has extensive insurance business and corporate expertise. We will leverage this expertise and Pictures of ERIE a unique position in the market to support entrepreneurs.”

Learn more about Erie Strategic Ventures at www.erieinsurance.com/ventures.

About Erie Insurance
According to AM Best Company, Erie Insurance Group, based in Erie, PAis the 11th largest home owners insurer, 13th largest auto insurer and 13th largest commercial lines insurer in United States based on the payment directly written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 19th largest property/casualty insurer in United States based on all net premium lines recorded. Rated A+ (Superior) and AM Best, ERIE has more than 6 million active policies and operates in 12 states and District of Columbia. Release notes and information are available Pictures of ERIE website at www.erieinsurance.com.

About Touchdown Ventures
Touchdown Ventures partners with organizations to improve their financial programs. Touchdown works closely with any organization to realize the financial and technical benefits from business ventures. The company is a Registered Investment Adviser and maintains internal offices Angels, Philadelphiaand San Francisco. More information on Touchdown can be found at www.touchdownvc.com.

SOURCE Erie Indemnity Company