Highline BETA is partnering with Cookhouse Lab, a joint venture between LOGiQ3 Group and msg global, to bring startup innovation into the insurance industry. Cookouse Lab is an open innovation space in Toronto for global insurance companies, financial services professionals, technologists, designers, academics, entrepreneurs and more to come together and work on new problems and opportunities in InsurTech.
Insurance remains a laggard in FinTech disruption, but startups are starting to poke holes in the industry, and we believe this is just the beginning.
Ask people about their experience buying and using insurance, and most won't respond very positively. Whether it's consumer or commercial insurance, people aren't well-enough informed about what they're buying and how their needs change over time. The industry remains opaque to customers, built on legacy technologies and difficult for startups to crack.
We believe the answer lies in working with the biggest and best insurance companies, and bringing transformative innovation to them through the startup ecosystem. Our goal is co-create and actively invest in InsurTech startups, leveraging our partnership with Cookhouse Lab to provide our portfolio with unique knowledge, insights and incredible access to the leading insurance companies around the world.
If you're a founder, potential founder or startup that's excited about the insurance industry, please connect with us.
Cookhouse Lab is a unique space--the first of its kind in the world--focused on bringing insurance companies (and others) together to collaboratively work on new problems and opportunities in the insurance industry. It was started by LOGiQ3 Group, a leading insurance and reinsurance outsourcing and consulting firm, and msg global, a global product-based systems integrator serving insurers and reinsurers. Highline BETA is Cookhouse Lab's exclusive local partner into the startup ecosystem.
Chris Murumets, co-founder of LOGiQ3 Group, shares his thoughts on the partnership:
"We're very excited to partner with Highline Beta. The co-creation philosophy of Marcus and Ben attracted us to their model and we feel it's a great matching of capabilities with Cookhouse Lab. Highline BETA's ability to find the best InsureTech entrepreneurs, married with the market we'll have within Cookhouse Lab will be a powerful combination. We all want to make insurance better, this is another great step in that direction."
With Cookhouse Lab, and its members, Highline BETA will help drive successful startup co-creation, investment and transformation in the insurance industry.