“ERGO Insurance” signed a long-term cooperation agreement with the Venture Capital Fund Nextury Ventures in Lithuania, which invests in business start-ups and high-potential business ideas. With the help of the Nextury Ventures team, ERGO will search for ideas, which could turn into innovation in the insurance field. According to ERGO representatives, the decision to use start-ups were determined by a general need for fresh winds of change and progress in the insurance business in Lithuania.
“A breakthrough is what insurance business in Lithuania lacks the most. We have been competing in quality and prices, however, the need to continuously offer innovative solutions to customers is no longer a prerogative of IT business alone. Working with our ERGO Group colleagues in various European counties, we are well aware of the fact that the insurance business must be dynamic and keep up with the accelerating pace of life and the latest technology trends, to focus on individualized services and be ahead of customer needs. As the ambassadors of quality of insurance services in Lithuania, who find innovation to be one of priority strategic directions, we have chosen leaders in the field – Nextury Ventures, a company, which best understands how and which ideas become business innovation” – said dr. Kęstutis Bagdonavičius, Chairman of the Management Board of ERGO in the Baltic States.
“There are many great examples in the world of the cooperation of major corporations with specialized innovation investment companies, thus encouraging innovations in areas of their operations. I believe our partnership with ERGO will set a good example in Lithuania and in all the Baltic States. We intend to cooperate in investing and promoting innovation in the insurance sector. Personally I am very pleased with the fact that ERGO, which has been successfully operating in Lithuania for many years, thinks progressively, understands the value of innovation and is not afraid to invest in them. I believe that there will be more like-minded companies in Lithuania in the future”, – said Ilja Laurs, Chairman of the Venture Capital Fund Nextury Ventures.
According to the parties to the cooperation agreement, the plan is to include more partners with different business and technology experiences and academic knowledge.