19 January 2021, Paris
Press Release
Insurtech Capital, a fund managed by Mandalore Partners, makes its first social impact investment in isahit to develop Impact Scoring-as-a-Service
On 6 January 2021, Insurtech Capital, a fund managed by Mandalore Partners, announced its first impact investment in isahit
Isahit is a socially responsible outsourcing platform based in France
This investment marks the start of a long-term strategic partnership to co-develop impact-driven projects, such as Impact Scoring-as-a-Service
The Business Process Outsourcing industry (BPO) is currently undergoing a positive transformation that could soon be adopted by other industries. BPO companies are implementing impact sourcing, an innovative hiring model that combines socially responsible hiring practices with an opportunity to engage untapped labour markets.
Impact sourcing, an increasingly prevalent practice, combined with key technology trends – Big Data and AI – can help to further scale investment practices with positive societal and environmental impact.
That is why Insurtech Capital, an investment vehicle managed by Mandalore Partners, announced today an investment in isahit, a French company specializing in artificial intelligence augmented by human intelligence and data processing tasks.
Launched in 2017, isahit is an impact sourcing platform for digital projects. Isahit provides services around data management, pre-machine learning data set and moderation on social networks. This service is performed by young women and comes as an additional income for those women so they can achieve their life goals.
Isahit’s ambition is to give work opportunities to talented people through acess to complementary revenue that can help these young women finance their studies, start an entrepreneurial project, acquire financial independence or simply improve their living conditions.
Isahit has more than 1.050 workers on its crowdsourcing platform, mainly women across 32 countries in Africa, Asia, and South America. Isahit's ambition is to establish a presence in 35 countries and to give work to 10.000 workers which will generate a social impact for 40.000 people within the next 4 to 5 years.
"Investment in isahit is more than an investment, it is the beginning of a strategic partnership, which will allow us to scale impact-driven projects in very important ways, as well as help us develop our impact scoring model and impact funds”, says Managing Partner of Insurtech Capital, Minh Q. Tran.
“We are happy to partner with Mandalore Partners to foster impact and its scoring. We believe that this impact scoring is a key milestone for Tech for Good companies to show value and we are pleased to show the way with our model”, adds Isabelle Masholla, founder of isahit.
#TechForGood #TechForPeople #AIForHumanity #ImpactSourcing #ImpactScoring #ImpactInvesting
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About
Insurtech Capital is an investment vehicle managed by Mandalore Partners.
Our mission is to de-risk innovations for insurance companies with strategic investments and source the most promising technology startups to match insurance companies’ new venture programs.
https://www.insurtechcapital.com/
Mandalore Partners specialises in Innovation-as-a-service. As an asset builder for corporations and mid-sized companies, we de-risk innovation with strategic and impact investments by sourcing, investing, and partnering in innovative technology companies fitting our partners’ venture programs.
Mandalore helps customers source startups that are utilising innovative technologies to access new alternative asset classes. We enable investors to invest in direct equity investments, as well as to co-create alternative funds. Mandalore thereby provides access to new pools of assets being created to support emerging businesses. Examples include covered bonds, insurance-linked securities, and private debt, among others.
Besides investing, Mandalore also co-develops build-up strategies with portfolio companies to accelerate their scalability and to create business synergies for tech integrations and consolidations.
Created in 2017 by a consortium of six management companies, IZNES is now backed by two new renowned investors: Generali and the APICIL Group, via its dedicated fund Insurtech Capital.
They become respectively the first insurer and the first social protection group to enter IZNES capital.
This strategic partnership accelerates the development of a new blockchain ecosystem for processing UCI transactions.
Thanks to this capital increase and the acquisition of stakes by these two major players, IZNES is accelerating its development in France, Luxembourg and Ireland.
For Generali, the French leader in the third-party savings market, this strategic partnership strengthens its leadership in the open-architecture life insurance market and confirms its desire to invest in innovative structures in order to participate in their development.
For the APICIL Group, this investment enables it to develop a strategic and a financial partnership, in line with its innovation strategy. Its dedicated fund Insurtech Capital aims to invest in Fintech, WealthTech and Insurtech at the beginning of their development.
Generali and the APICIL Group also will become users of the IZNES platform in the coming months, in order to optimise the processing and cost of their unit-linked operations.
All the partners of IZNES share the ambition to make it an essential platform.
IZNES, the first pan-European platform for processing UCI transactions in blockchain technology
IZNES offers a complete solution, available to management companies and their investor clients, from the initial contact to the keeping of the register.
The use of IZNES' blockchain technology, without recourse to bank intermediaries, facilitates access to funds, reduces transaction costs and provides an optimal level of security for institutional investors and management companies.
Since its operational launch in March 2019, this integrated solution within the Asset Servicers ecosystem has been very successful and IZNES has already processed more than €15 billion of transactions by the end of December 2020.
They said :
Rémi Cuinat, director of unit-linked assets at Generali France : "The Generali has built a leadership position in Europe by relying on an open architecture life insurance distribution model. This rich and complex model is industrialised, but IZNES offers a solution that optimises asset flows and costs while controlling operational risk. Generali is very pleased to participate in the development of this new ecosystem".
Pasquale Tuosto, Director of New Business Ventures at Generali France : "By acquiring a stake in IZNES, Generali is confirming its desire to make profitable investments in innovative start-ups on the market, characterised by a strong technological component that also enables it to transform and accelerate its business. »
Chloé Pruvot, Investment Director of the APICIL Group : "In the search for optimisation in terms of deadlines and security of our UC operations processes and also cash management, we are particularly interested in the IZNES solution. »
Minh Q. Tran, Managing Partner of Mandalore Partners, manager of the Insurtech capital fund : "We invest in Fintech, WealthTech and Insurtech to develop industrial partnerships with our (co-)investors. IZNES is an innovative solution that enables the APICIL group to combine industrial and financial benefits. »
Christophe Lepitre, CEO of IZNES : "These two major insurance and social protection groups are convinced by the IZNES model and wish to use the platform for their unit-linked operations. The simplicity of the KYC, the quality of the repository and the cost reduction were the reasons for their decision. »
ABOUT IZNES
IZNES was born out of the desire to create the first international platform for buying and selling European UCIs in blockchain on behalf of institutional and retail clients, compatible with the different marketing channels. IZNES was created in 2017 by six management companies (Ofi AM, Groupama AM, La Banque Postale AM, Lyxor, Arkéa IS and La Financière de l'échiquier).
Thanks to blockchain technology, this solution makes it very simple to buy or sell UCI units directly from the management companies, while offering the highest standard of security.
IZNES was authorised as an investment firm in June 2020.
ABOUT GENERALI FRANCE
Today, Generali France is one of the leading insurers in France, offering a complete range of insurance solutions (health, provident, assistance, property and liability), asset savings and asset management to more than 7.4 million people. Established in France since 1832, Generali France relies on the know-how and expertise of its 9,000 employees and its networks of commercial intermediaries, agents, brokers and partners to be a partner to its customers throughout their lives. As a company committed to a global CSR approach, Generali France supports its clients in their efforts to achieve a more responsible, sustainable and inclusive economy through solutions that are perfectly in line with the social and environmental challenges of today's world.
More information on www.generali.fr
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ABOUT THE GENERALI GROUP
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world with total premium income of more than € 69.7 billion in 2019. With nearly 72,000 employees serving 61 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali’s ambition is to be the Lifetime Partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network.
More information on http://www.generali.com/
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ABOUT THE APICIL GROUP
The APICIL Group, France's 3rd largest social protection group with €3.2 billion in turnover, offers a complete range of high-performance, tailored solutions in health and welfare, savings and financial services, as well as pensions for individuals and professionals. Every day, the Group's 2,176 employees bring their expertise to more than 47,000 companies and 2 million protected policyholders. With its members, the Group supports its customers as closely as possible to their expectations by meeting their needs, from the most general to the most specific (disability, construction and public works, etc.) and at all stages of their lives. The APICIL Group is an equal opportunities employer and mutual insurance company that supports general interest causes and thus contributes to the advancement of major social projects.
More information on https://www.groupe-apicil.com
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ABOUT INSURTECH CAPITAL
Insurtech Capital is an investment fund managed by Mandalore Partners.
Our mission is to de-risk insurance innovation with strategic and impact investments in the most promising technology startups to match the new innovation programs of insurance companies.
More information on https://www.insurtechcapital.com
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Mandalore Partners specialises in innovation-as-a-service. As an asset creator for companies, we reduce the risk of innovation through strategic and impact investments by partnering in innovative technology companies tailored to our partners' innovation programmes.
More information on https://www.mandalorepartners.com
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First of all, I wish all of you a Happy New Year !!!
What a year in 2020
Then, we stopped and reflect for 2021. What else could we do? I am happy to announce:
Finally, on the side, we are still running our Impact Investing Fund focusing first on #ImpactSourcing and #ImpactScoring.
See here our 1st panel in "Why Impact Investing is on the Rise"?
More about the conference, here:
http://about.me/minh_q_tran
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