Beat Capital | May 18, 2022
Beat Capital Partners is expanding into the United States and has selected OneShield Software's SaaS technology platform to launch new Managing General Agents (MGAs). Beat Capital Partners is a highly successful insurance sector investor in the United noted for providing start-up money, infrastructure, risk capital, and A+ rated paper to new ventures.
The outstanding features of the OneShield Market Solutions (OMS) SaaS platform are the reason for Beat's entry into the US market. OMS includes functionality for policy management (binding, quoting, and servicing), billing (invoicing through payment), claims administration and document management, reporting, and analysis. All of these can be customized to meet the complex needs of MGAs.
We did a thorough analysis of available insurance technology platforms and chose OneShield for various reasons, including OMS's all-in-one pricing approach, overall system capabilities, and substantial industry knowledge. The team at OneShield thoroughly understood our overall business concept, and the platform itself has a stellar reputation in the startup and MGA markets."
April Galda Joyce, CEO of Beat Capital America.
Last year was a big year for OneShield's SaaS offering as many start-up insurers and MGAs wanted to adopt scalable and adaptable technologies with proven rapid time-to-market deployment schedules. We are delighted to meet these similar standards for Beat Capital and look forward to working with them as they expand their business in the United States."
Liza Smith, OneShield's Chief Revenue Officer.
JAB Holding | June 22, 2022
On June 20, JAB Holding Company and Fairfax Holdings Limited announced a strategic partnership. JAB’s pet insurance business has agreed to acquire all of Fairfax’s interests in the Crum & Forster Pet Insurance Group™ (“C&F Pet”) and Pethealth Inc., including all of their worldwide operations. Fairfax will also make a $200 million investment in JCP V, JAB’s latest consumer fund.
“Fairfax is very happy to partner with Olivier Goudet and JAB Holding Company,” said Prem Watsa, the Founder, Chairman and CEO of Fairfax. ”JAB has had an outstanding track record over the past 10 years and we expect this to continue. While we have sold our pet insurance business to JAB, we will invest $200 million in their JCP V to become their partners. We expect JAB to soon become leaders in pet healthcare and pet insurance globally. We wish them much success.”
“We are extremely excited to partner with Prem and his organization on this transformational transaction, and to welcome them as a partner in our fund,” said Olivier Goudet, Managing Partner and CEO of JAB. “Prem has an incredible multi-decade track record of building great businesses and compounding returns, and we look forward to accelerating the growth of their pet insurance business as part of our focused pure-play pet insurance platform.”
“Today’s transaction is a major milestone for us in our mission to become a global leader in pet insurance and the pet health ecosystem,” said Dirk Beeckman, CEO of JAB’s pet insurance portfolio. “It also significantly advances our mission of providing the leading health and wellbeing ecosystem for pets through the offering of affordable, comprehensive pet products and brands throughout a pet’s lifecycle. C&F Pet‘s long history of disciplined omni-channel underwriting fits perfectly with our culture, and we look forward to working with the team.”
“We are extremely proud of what we have built and accomplished together in the animal welfare community and the pet insurance ecosystem,” said Gary McGeddy, President of Crum & Forster A&H. “We are confident that JAB will continue to invest and focus on pets and pet parents while growing their global presence and we are excited about the future and our partnership.”
The transaction is expected to close in the second half of 2022, subject to customary closing conditions, including various regulatory approvals.
Tokio Marine and Arbor Ventures | August 12, 2022
Tokio Marine Asia Pte. Ltd. today announced a strategic partnership with Arbor Ventures, a leading global Fintech / InsurTech-focused venture capital firm, headquartered in Singapore. This partnership, established through its Innovation Lab in Singapore, marks Tokio Marine's commitment to accelerating the digital transformation of the global insurance industry.
The Tokyo-headquartered insurance group has been promoting transformational digital initiatives on a global basis, leveraging on collaborations with startups and service providers with key strategic capabilities.
To accelerate the identification and development of new business models, Tokio Marine Holdings, Inc. (Tokio Marine Holdings) has announced earlier in April 2022 on the launch of its corporate venture capital (CVC) fund partnering with World Innovation Lab, Tokio Marine Future Fund, to invest in early-stage startups.
Tokio Marine will identify and invest directly in high-growth potential startups through the CVC Fund in addition to partnering with Arbor and other leading VCs for unique insights and access to promising startups leading the digital transformation in Insurance. Arbor's addition to Tokio Marine's group of collaborative VCs significantly heightens its future opportunities.
Arbor is a global FinTech/InsurTech-focused VC with offices in Singapore, USA, Japan as well as a presence in EMENA. Arbor's global connectivity and portfolio as well as its engagement in local markets will further enable Tokio Marine group's innovation labs, spread across seven cities, including Singapore, to collaborate broadly with synergy beyond borders.
"Arbor's target to create the future of FinTech resonates with Tokio Marine's digital strategy. With Arbor's network and astute scouting of startups with strong potential in the FinTech space, it will greatly complement Tokio Marine's collaborative efforts to serve innovative products and services in insurance industry and beyond."
-Masashi Namatame, Group Chief Digital Officer at Tokio Marine Holdings
Melissa Guzy, Managing Partner of Arbor Ventures, similarly commented: Tokio Marine is a world-renowned leader that Arbor is proud to add as a strategic partner in building the future of FinTech / InsurTech. Arbor looks forward to building the next generation of transformational InsurTech startups together.
About Tokio Marine Group
Tokio Marine was established in the year 1879 as the first insurance company in Japan and has grown over the decades, now offering an extensive selection of General and Life insurance products and solutions in 46 countries and regions worldwide.
About Arbor Ventures
Founded in 2013, Arbor Ventures is a global investment firm focused on companies that leverage advanced technologies such as artificial intelligence, cloud computing, composable service offerings and blockchain applications to facilitate, broaden or fundamentally change the way financial services are served, consumed, and managed. Arbor uses its global vantage point, extensive network and deep sector knowledge to identify key trends and partner closely with leading entrepreneurs to build transformational companies. Notable investments include Paidy, True Accord, Forter, Nomi Health, Tabby, Fundbox and HiBob.