Self-driving cars. Artificial intelligence. Smart homes. The next generation of insurance and financial services will look markedly different than it does today and will continue to change significantly over the next several decades.
That’s why Nationwide is committing focus, resources and dollars (more than $100 million of venture capital) to invent and reinvent customer-centric solutions that help members across our existing and emerging businesses:
- Live comfortably in retirement
- Meet their insurance and financial needs in innovative and digital ways
- Protect their data and digital assets
- Protect them in the evolving area of mobility
By 2026, we expect about
of our enterprise sales to come from innovative solutions.
Nationwide is committing
of venture capital to invent and reinvent customer-centric solutions.
“With technology and consumer preferences changing exponentially, we need to stay on top of trends in the marketplace and develop solutions that will grow our business and serve our members in the best possible ways — possibly in ways that don’t even exist today,” said Terrance Williams, chief marketing officer for Nationwide and president of emerging businesses, which includes Nationwide Bank, innovation and pet/specialty insurance.
Nationwide has already invested in innovative member solutions with the recent launch of Guaranteed Retirement Income from Nationwide®, Amazon Alexa integration for SmartRide®, and a strategic relationship with Sure to digitally distribute renters insurance.
In addition to these efforts, Nationwide launched Nationwide Ventures in early 2016 to invest in startup companies that are transforming the insurance and financial services industry. Nationwide Ventures has made eight investments to date, including blooom, Insurify, Matic, Nexar, Next Insurance and Sure.
“As we approach our centennial anniversary in 2026, we expect to look like a different kind of company,” said Williams. “We will be a company that excels in its core businesses while building the platform and foundation for the future.”