Grange Insurance Partners with Rev1 Ventures to Support Innovative Insurtech Startups
Partnership Launches Program to Accelerate the Revolution of Insurance
COLUMBUS, OHIO April 9, 2019--Today, Grange Insurance and its affiliate partner Integrity Insurance along with leading investor startup studio Rev1 Ventures are announcing a partnership to connect promising new companies and entrepreneurs with insurance industry experts. The collaboration, known as G-Force Innovations, will identify, develop, and adopt emerging technologies that drive new insurance products and capabilities for Grange’s customers and agents. This partnership is accelerating Grange’s commitment to advancing innovation in the insurance industry and helping insurtech startups to advance and succeed.
G-Force Innovations will link potential partners with resources, markets, technologists, and insurance industry experts to help rapidly validate, develop and deploy market advancements. Our focus is to rapidly deliver bold solutions in the following areas:
- Visionary insurance solutions for a connected world, including usage-based insurance and proactive claims mitigation capabilities;
- Superior customer experience with best-in-class omni-channel experience and ease of doing business from quote to claim;
- Analytics and automation to make decisions that are fast, reliable, and right for our customers; and
- Empowerment of our independent agency partners.
“We know our industry is constantly changing and we are committed to being on the forefront of that change,” said Tim Cunningham, Grange’s Chief Information Officer. “It’s exciting to collaborate with Rev1 because they have a proven program for building and scaling startups. We look forward to accelerating innovation within our own business, our industry and, ultimately, benefiting customers and agents by making interactions with us simple, quick and personalized.”
Founded in 1935 and based in Columbus, Ohio, Grange Insurance has been providing peace of mind and protection to its customers for more than 80 years. The company offers business, auto, home and life insurance exclusively through its independent agents in 13 states.
“Central Ohio is host to several premier insurance leaders, and as such, has become home base for insurtech entrepreneurs looking to build and scale,” said Tom Walker, CEO of Rev1 Ventures. “Grange has a proven passion for innovation, and this partnership reinforces both of our commitments to engaging startups in new and impactful ways so we can deliver insurance innovations both locally and globally.”
For more information please visit www.gforceinnovations.com.
About Grange Insurance
Grange Insurance Company, with nearly $3 billion in assets and in excess of $1 billion in annual revenue, is an insurance provider based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home and business insurance protection. Life insurance offered by Grange Life Insurance and Kansas City Life Insurance. Established in 1935, the Grange Insurance Company and its affiliate Integrity Insurance Company serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin. For more information, visit https://www.grangeinsurance.com.
About G-Force Innovations
G-Force Innovations is the innovation arm of the Grange enterprise focused on helping rapidly deliver solutions for the evolving needs of its customers, independent agents and associates. By partnering with Rev1 Ventures, G-Force Innovations is harnessing the collective power of insurance insiders, startup supporters and entrepreneurs to rapidly accelerate the development and deployment of bold new insurance solutions. To learn more, visit www.gforceinnovations.com.
About Rev1 Ventures
Rev1 Ventures is the investor startup studio that combines capital and strategic services to help startups scale and corporates innovate. Based in the Midwest, and in the number one city for scaling startups, Rev1 aligns innovators and founders with corporate and research partners to access customers and markets, helping entrepreneurs build great companies. With a proven track record of identifying, guiding and investing in high potential startups, Rev1 helps companies solve real problems for markets in need of real solutions. Rev1 has $90MM in capital under management, providing a capital continuum from corporate and community partners, as well as the Ohio Third Frontier. Rev1 is the 4th most active seed investor in the U.S., according to Pitchbook. For more information, visit www.rev1ventures.com.
Press (at) rev1ventures (dot) com