MILWAUKEE, Jan. 12, 2017 /PRNewswire/ -- Northwestern Mutual announced today it has designated $50 million to form Northwestern Mutual Future Ventures which will engage startups whose technologies have the potential to transform how consumers experience and achieve financial security. This multiyear commitment will focus on innovation to build greater digital relevance for clients, increase data-driven decision making and create back-end efficiencies with the goal of creating greater value for its more than 4 million clients.
"We want to make it easier for Americans to know what financial security is and how to achieve it," said Rebecca Porter, vice president of corporate strategy and chairperson of the investment committee for Northwestern Mutual Future Ventures. "We're bringing together the strength and scale of a 160-year-old Fortune 100 company with leading-edge innovations of startups to transform financial planning through our trusted advisors and relevant digital tools."
Each investment--ranging between $500,000 and $3 million--will fund digital solutions to help accelerate innovation and create value for the company's clients. Northwestern Mutual Future Ventures will focus on four priority investment areas: consumers' changing preferences, reimagining the client experience, the digital health revolution and transformational analytics and technologies.
Northwestern Mutual has been ramping up investments in and relationships with early stage companies, following its 2015 acquisition of LearnVest. "We have already seen substantial benefits through LearnVest and other investments, and our goal is to continue tapping into innovators that share our passion for helping people through innovation," said Porter.
For more information, visit www.nmfutureventures.com.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $238.5 billion in assets, $27.9 billion in revenues and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.4 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual ranks 100 on the 2016 FORTUNE 500, and is recognized by FORTUNE as one of the "World's Most Admired" life insurance companies in 2016.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company (NMWMC), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC).
SOURCE Northwestern Mutual