SSQ Insurance has announced that it is investing in fintech company Portag3 II LP (Fund II).
"Strategically leveraging innovation for SSQ Insurance, Fund II will closely involve identifying promising and innovative financial technology businesses in sectors as varied as personal finance, investment management, savings, life insurance, general insurance and health insurance,” stated SSQ in a press release issued Oct. 30.
SSQ also says the investment will enable the insurer to invest directly in technology associated with its products and services, as well as the potential needs of its clients.
Rapidly changing needs of consumers
"Portag3 Ventures is providing SSQ Insurance with the unique opportunity to position itself to meet the challenges inherent in digital advances and the rapidly changing needs of consumers," says Jean-François Chalifoux, CEO, SSQ. "We are proud to participate in this fund, which will position us to keep abreast of new business innovation opportunities and to observe new technology firsthand and how it may benefit our clients."