Timothy Necastro, CEO | Erie Insurance
Erie Strategic Ventures, the venture capital division of Erie Insurance, has announced investments in two technology startups, Atomic and Feathery. The fund aims to support innovation within the insurance and financial technology sectors.
Keith Kennedy, senior vice president for Next Level Innovation at Erie Insurance, commented on the new partnerships: “We are excited to partner with Atomic and Feathery. Erie Insurance is a relationship company, and we believe that these two relationships create numerous opportunities for mutual benefit.”
Atomic provides brokerage and wealth management solutions designed for financial institutions. As a licensed registered investment adviser (RIA) and broker-dealer, Atomic enables credit unions and insurance carriers to use its technology platform to offer embedded financial services to their customers.
Feathery offers an artificial intelligence-driven data intake platform for financial institutions. Its system helps validate, format, and connect data from various sources to end systems. This can improve efficiency in processes such as insurance underwriting submission intake, policy checking, proposal generation for brokers, and client onboarding for RIAs and broker-dealers.
Erie Strategic Ventures was launched in August 2022 with a focus on investing across the personal and commercial insurance value chain. The fund works alongside Cerity Partners Ventures to manage operations.
Erie Insurance is based in Erie, Pennsylvania and is recognized as a Fortune 500 company. Founded in 1925, it serves over seven million policyholders through more than 14,000 independent agents across twelve states and Washington D.C., maintaining an A (Excellent) rating from AM Best.
More information about Erie Strategic Ventures can be found at www.erieinsurance.com/ventures.
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