UK-based insurance broker Willis Towers Watson (WTW) has launched a corporate venture capital arm called WTW Strategic Ventures.
WTW Strategic Ventures will invest in developers of insurance, risk and human capital technologies that are pertinent to the firm’s business.
The corporate has also launched an entity called Growth Board which will collaborate with the existing New Venture Investment Committee to back emerging ideas and develop market reach, customer bases and business models.
John Haley, chief executive of Willis Towers Watson, said: “WTW Strategic Ventures is core to the company’s growth strategy by enhancing our capabilities to identify and develop strategic opportunities and alliances aimed at delivering tangible value to our clients.
“These new initiatives will source investments and utilise relationships with the venture capital community, clients and industry connections to support innovation inorganically and organically with the Growth Board, to create new offerings in areas of strategic interest to the company.”
