Forward: The circular economy & building customer resilience

Welcome to Forward by Avanta Ventures, our monthly newsletter bringing you innovative ideas and insights from ground-breaking startups reimagining the future of Insurtech, Mobility, and more.

In this issue, we're sharing our team's insights on the circular economy and its impact on the insurance industry, how customer resilience can manage loss costs, and news about our upcoming events.

Insights

The circular economy: Why it matters to the insurance industry

According to the U.S. Environmental Protection Agency, the circular economy aims to reduce material use, redesign materials, products, and services to be less resource-intensive and recapture waste to manufacture new materials and products.

This article examines the leading trends driving the insurance industry to address the circular economy, several innovative startups with circular economy-focused value propositions, and why innovative insurance carriers should care about it. Keep reading

Building true customer resilience to both manage loss costs and serve customers better

When insurers discuss building resiliency in the face of increasing disasters and crises, the solutions tend to highlight reducing exposure to catastrophic risks or limiting expected loss through better risk selection. However, risk models are not omnipotent. Resiliency, by definition, is not just about how to avoid disasters better; it’s also about the ability to bounce back from disasters better.

By investing in ways to help their policyholders do so, insurers can help reduce the mental, emotional, and financial burden on customers while reducing their losses by getting customers back to their daily lives faster. New tools and services focused on mitigation, preparation and recovery after we know a disaster has hit or is underway can increase policyholder resilience. Keep reading

Events

InsurTech Hartford Symposium: Mobility & new flood of new EV's impact on Insurance

May 2-3, 2023 | Mohegan Sun, Uncasville, Connecticut

Join Moha Shah, Avanta Ventures Head of Portfolio Development, for a panel on mobility & the flood of new EV’s impact on insurance. In response to changes in regulation and consumer sentiment, auto manufacturers are rapidly increasing production of EVs. Insurers need to be prepared to underwrite the vehicles of tomorrow, today.

Autotech Council Spotlight on EV Charging

Tuesday May 23, 2023 | 10:00 AM - 11:00 AM PT | Autotech Council Virtual Lounge

Join Avanta Ventures and Autotech Council for this Spotlight session focused on the innovation happening in EV Charging. The transition to EVs requires lots more innovation in charging – charging networks, charging protocols, charging rates, standards, and even getting electricity to the chargers. And with an infusion of capital, this sector is hot. Up to 5 startups will pitch their solutions and get us all thinking about the next set of challenges and opportunities in the EV transition.

Tech Week LA: Unveiling The Mysteries of Corporate Venture Capital

Thursday, June 8 | Santa Monica/Venice

Join Avanta Ventures Senior Principal David Li at a16z’s Tech Week LA for a panel discussion on Unveiling The Mysteries of Corporate Venture Capital, with fellow panelists from Allstate Strategic Ventures and MassMutual Ventures.

About Avanta Ventures and Avanta Studios

Avanta Ventures is the venture capital arm of CSAA Insurance Group. We provide deep insurance expertise, partnership, and financial investment to leading startups in Insurtech, Mobility, and Insurtech-Adjacent markets. Avanta Ventures initially invests in Seed, Series A, and Series B companies. Learn more here.

Avanta Studios is Avanta Ventures' startup accelerator that supports startups exploring new markets, business models, and technologies. The Avanta Studios program provides opportunities for startup companies in Insurtech, Mobility, and Insurtech-adjacent markets to access guidance and resources to accelerate their progress. Learn more here.