Eos Venture Partners (Eos), the venture capital fund focused exclusively on the insurtech sector, has committed to integrating environmental, social, and governance (ESG) factors, including closing the protection gap, into its investment decisions.
Eos Partner Sam Evans says the global pandemic has highlighted the importance of resilience and the need to become more conscious of sustainability trends in both business and society.
He added that the financial services and insurance industries had fallen behind other sectors in responding to ESG issues, but that insurtech businesses could play a key role leading the industry in this area.
Eos is aiming to make a series of investments in insurtech businesses providing insurance solutions around issues such as closing the protection gap in emerging markets and for underserved demographics, improving quality of healthcare, managing climate change, risk mitigation, agriculture insurance, supply chain optimisation and green energy.
“Going forward, ESG will be an important factor when we select companies in which to invest,” said Evans.
“The combination of connected devices, the Internet of Things (IoT), geospatial imagery, accessible data and digital engagement is enabling insurers to reach underserved communities through partnerships, product innovation, and an enhanced modelling capability for understanding and mitigating risk,” he continued.
“We have a goal of positively impacting 500 million lives by integrating ESG factors into investment decisions whilst also investing in companies that are consciously working to create a diverse leadership team. We believe that having a diverse leadership team is a key component of success, and is a key part of our broader commitment to supporting ESG in our investment decisions.”
