Newly launched insur_space will act as an investing arm for global insurance company Mapfre, with €100m ($113m) to invest in technology solutions annually. This brings Mapfre’s total annual investment in technology solutions to €700m. The new venture is the first of its kind and follows a similar move by insurer Allianz last year. These start-ups will have access to Mapfre experts and international market research data.
Newly launched insur_space will act as an investing arm for global insurance company Mapfre, with €100m ($113m) to invest in technology solutions annually. This brings Mapfre’s total annual investment in technology solutions to €700m. Insur_space has been designed as an insurtech startup accelerator to develop solutions for various clients' needs, ultimately to be adopted into Mapfre’s strategic business - 19 start-ups are currently working through insur_space to develop entrepreneurial ideas and launch mature business proposals. These start-ups will have access to Mapfre experts and international market research data.