Liberty Mutual Global Consumer Markets has formed a new venture capital initiative focused on technology and the insurance industry.
Liberty Mutual Strategic Ventures (LMSV), a $150 million early stage venture fund, is aligned with the innovation strategy of Liberty Mutual Global Consumer Markets, which centers on the connected home, next-generation vehicle and sharing economy.
LMSV’s first investment is August Home, a provider of smart locks and smarter home access products and services that promise to make life easier and more secure. August Home products allow users to create virtual keys to easily grant access to house cleaners, dog walkers, delivery services, guests, friends and family鈥攁nd control how long that access lasts鈥攁ll from a smartphone.
Liberty Mutual said its Smart Home Discount Program rewards customers with discounts on their home insurance for adopting self-monitored theft protection devices such as August Home products.
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
