Challenging the world of corporate venturing

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Three insurance industry leaders have joined forces to launch ‘Alchemy Crew’ – a venture lab to enable insurers, reinsurers, wealth managers and healthcare providers to grow in a post-pandemic era. The venture lab focuses on three may areas:

  • Research and Development
  • Reinvention of business models
  • Virtual delivery of partnerships and venturing building processes.

 

 

The company has developed a new collaborative framework that accelerates the curation of business challenges by solving those challenges through strategy-led venture validation and commercialisation activities to prioritise partnerships and investments, all achievable through a virtual engagement model.

The founding team and its amazing team of global experts with deep expertise in finance, insurance and venture-led growth bring together 70+ years of experience in the insurance sector:

  • Sabine VanderLinden – renowned ecosystem builder that launched and grew Startupbootcamp InsurTech accelerator to become the leading Insurance accelerator in Europe and subsequently in the USA
  • Minh Q. Tran – previously founder of AXA Seed Factory and former GP of AXA Strategic Ventures’ $500m fund
  • Dan White – specialist insurance innovation leader and Managing Partner at Ninety Consulting – the leading global Insurance Innovation Consultancy

 

Sabine VanderLinden, Co-founder, CEO and Managing Partner of the Alchemy Crew states:

Covid-19 is predicted to cost the global insurance industry approximately $203 billion. The damage will be economical, societal and operational. To survive and grow in a post-pandemic world will require insurers to rapidly adapt to the new normal and build highly adaptable operating models and functions. That’s where Alchemy comes in. Our strategic, focused and systemic approach de-risks game-changing initiatives for executive, transformation and innovation leaders adds speed and convenience to program-driven delivery regardless of market dynamics.

Minh Q Tran, Managing Partner, Mandalore Partners – Co-founder and Investor in Alchemy Crew

With Alchemy we are industrialising virtual Reinvention Engines, which includes the discovery, evaluation, sourcing and acceleration of demonstrable applications of top digital tech entrants, which are able to deploy their solution in the cloud. Couple this approach with our deep industry expertise, data and research from decades delivering impact from executing growth-led innovations, and we believe we are perfectly positioned to become the partner of choice for insurance and reinsurance providers that want to assess, validate, invest and spearhead growth in 2020 and beyond.

Dan White, Managing Partner, Ninety Consulting – Co-founder and Investor in Alchemy Crew

What I’m seeing from our work in the insurance space is a new hardening of the mandate for innovation in the face of a currently fast changed world. But it is a mandate with a different focus. Gone is much of the ‘optional’ innovation, to be replaced with ‘must do’ innovation problems: how to stay relevant, how to pivot operations to 100% digital, how to serve customers and clients in times of hardship, and how to do all that whilst engaging with climate challenge priorities. It is a fascinating time to be involved, and I’m proud that Ninety is a founder of Alchemy and joint forces with two other recognised leaders within the industry.

 

Alchemy’s model combines a series of evaluation exercises with short, targeted and iterative validation cycles. It has developed a bespoke multi-phased criterion to de-risk portfolio related decisions, across defining customer needs through viability, scalability, sustainability and transferability. This makes it easy and quick for insurers, reinsurers and other players within the finance sector to determine the most suited, relevant and resilient growth ventures.

The model delivers a series of short and pointed programmatic and iterative Reinvention Engines to accelerate value creation. Each program lasts approximately four months and dives into major group level and business unit strategic problems. It engages with the most dispersed cross-functional teams and evaluates and matches international growth-stage ventures able to solve complex challenges. The validation process can be delivered face to face, or virtually. Each Reinvention Engine requires the involvement of one problem owner and five to six experts for an average of 20 days. The delivery has been fully virtualized to meet emerging needs from Covid-19.

 

 

 


 

About Alchemy Crew

Alchemy Crew is a venture lab for the insurance sector and financial services institutions. Using open innovation, digital experimentation techniques, and ecosystem thinking, Alchemy Crew collaborates with established businesses to accelerate the curation, validation, and commercialization of emerging digital platforms and services.

The Crew facilitates the execution of a Reinvention Engine that fast-solves some of the most pressing challenges across the finance sector by unearthing latent customer needs and developing winning propositions. By using a structured collaborative framework, its approach short-cuts experimentation with global tech ventures with unique business models to significantly de-risks corporate-led growth initiatives.

Alchemy’s global acceleration platform codifies knowledge on emerging tech players to create a long-term sustainable impact through authentic execution and the sharing of key learnings. It combines the collective knowledge of networks of experts from all around the globe to contribute to the emerging networked economy.

For more information, please see: https://alchemycrew.com/

Contact: hello@alchemycrew.com

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