June 13, 2017 by Canadian Underwriter
Following the success of Aviva Pitch Day in 2016, Aviva Ventures announced on Tuesday that it will continue to invest in high potential digital startups around the globe.
With $170 million to invest globally over the next four years “in digital startups that will help shape the future of insurance,” Aviva Canada will be hosting their second Aviva Pitch Day event in Toronto on Sept. 19, the insurer said in a press release. Last June, Aviva Canada announced that it would hold its inaugural Pitch Day on Oct. 11, 2016.
The call for submissions is now open, Aviva Canada said in the release. “Through a selection and shortlisting process, the top 10 Canadian-based digital startup submissions will pitch to a panel of Aviva advisors at Aviva Canada’s Digital Garage in downtown Toronto for their chance to be considered for an investment of up to $10 million,” the insurer said.
“We saw the high demand for disruptors looking to take their businesses to the next level at last year’s Pitch Day event,” said Aviva Canada’s chief information officer, Ben Isotta-Riches, in the release. “We can’t wait to once again collaborate with startups who can offer unique ideas to create positive change for our almost three million customers here in Canada. We’ve only just scratched the surface in building a massive insurtech community in Canada.”
Earlier this year, Aviva Ventures announced their first Canadian investment in Casalova – one of the startups shortlisted at last year’s Aviva Pitch Day. Casalova is a Canadian real estate marketplace poised for “next level growth” with a $2.5 million investment from Aviva Ventures.
“We are excited to be tapping the Canadian marketplace for potential high-growth, digital startups that will help us transform the insurance industry,” said Ben Luckett, managing director at Aviva Ventures. “By putting innovation and digital as our core focus, we will be able to make insurance easier and simpler for our customers.”
Canadian startups interested in participating in Aviva Pitch Day can visit www.avivapitchday.ca to view the requirements and submit an application. Application deadline is Aug. 11.
Aviva Canada provides home, auto, leisure/lifestyle and business insurance to 2.9 million customers. A wholly-owned subsidiary of United Kingdom-based Aviva plc, the company has more than 4,000 employees. The insurer invests in the Aviva Community Fund, an online community funding competition that has awarded $7.5 million to more than 250 charities and community groups across the country.
Aviva Ventures is Aviva plc’s corporate venture fund and is wholly-owned by Aviva plc. Launched in December 2015, it is currently operating out of Aviva’s digital garage in London, England. The fund aims to invest 100 million pounds over the next five years into “startup businesses that will disrupt, lead and transform the insurance industry.”