NN Group launches corporate venture builder NN Ventures
Today NN Group announces the launch of its own corporate venture builder, NN Ventures. As of 1 April, NN will use its existing innovation resources to (co)fund the exploration and development of a small number of new propositions up to the Series A stage. From Seed stage onwards, they will be incorporated as standalone ventures (BVs).
By operating as a true venturing organisation, NN can scale its services further and move ahead in securing its future position in insurance, banking and beyond. At the same time, NN will be able to provide the governance structure and entrepreneurial mindset necessary to launch new products and services into the market, both for NN and other potential customers.
Jeroen Meijers, Head of NN Ventures, says: ‘Our ambition is to be an industry leader, known for our customer engagement, talented people and contribution to society. As customer needs evolve, we aim to stay relevant through our innovative and complementary and or new products and services. By leveraging assets like our customer base, distribution and underwriting capabilities, we can ensure our ventures are strategically relevant for NN as well as driving significant impact as a standalone proposition.’
In 2023, NN Ventures will focus on developing products for the pension market (under the theme Care-free Retirement) and in embedded insurance, which enables customers to purchase insurance products via a third-party platform.