Global re/insurance brokerage Willis Towers Watson has announced the launch of two initiatives designed to spur organic and inorganic growth.
WTW Strategic Ventures, the first of the two initiatives, will look to make early-stage investments in innovative companies.
It’s hoped these kinds of investments will unlock new growth possibilities in relevant businesses while enabling WTW to enhance and expand the ways it interacts with clients and business partners.
Alongside its strategic ventures initiative, WTW has also announced the formation of a new Growth Board.
The Growth Board has been launched to increase WTW’s organic innovation efforts and will support early-stage ideas that have the potential to create new markets, new customer channels and new business models.
By working together with the existing New Venture Investment Committee, the Growth Board will work towards expanding WTWs innovation pipeline.
“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,” said John Haley, Chief Executive Officer, Willis Towers Watson.
“These new initiatives will source investments and utilize 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.”