Insurance giant QBE to inject $50 million into “insurtech” as corporate-startup fraternising rises

Insurance giant QBE is joining the league of big corporates looking to startups as a way of protecting themselves from disruption. In its annual general meeting address this month, QBE chairman Marty Becker said the giant insurer could invest as much as $50 million this year in early-stage startups and tech ventures building disruptive solutions in the insurance industry. “Our challenge is to harness the benefits of incumbency,” Becker said.