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SEB Buys Stake in Nordic InsurTech Hedvig

The Swedish bank SEB has announced the start of strategic cooperation with the Norwegian insurance company Hedvig.

SEB Buys Stake in Nordic InsurTech Hedvig

Source: Pixabay.com

The new partner of the financial institution specializes in the insurance of property owned by individuals. The SEB Venture Capital division is making strategic investments in Hedvig in conjunction with a funding round led by Adelis Equity.

Jonas Söderberg, head of SEB’s Private and Corporate Clients division, says that the partner’s digital insurance offer will allow the financial institution to offer the appropriate type of services to customers simply and smoothly. He also noted that the investments directed by the bank are a natural solution, due to confidence in the prospects of development of the insurance company.

Last year, the financial institution established cooperation with the insurance company Insurely. This firm differs from other representatives of the industry in that it is actively engaged in the digitalization of the insurance sector through the introduction of innovative technologies and open data.

Stefan Stignes, Head of Research Banking and Strategic Partnership at SEB, says that the partnership with Hedvig fully complies with the goal-setting provided for in the bank’s strategy for the development of the financial ecosystem.

Currently, Hedvig’s customers are more than 130 thousand people. The value of the annual transactions concluded by the company is about 17.5 million euros.

Fredrik Ljungblad, investment manager at SEB Venture Capital, says that thanks to a modern technology platform, uninterrupted customer service, and effective insurance solutions, Hedvig has managed to occupy a significant position in the Swedish insurance market in a relatively short period of time. He also noted that this market has the potential for further development and expansion.

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Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.