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July 8, 2020

Nassau Re/Imagine enters partnership with Symetra on Hartford insurtech incubator

By Sean Teehan

Hartford insurer Nassau Financial Group entered into a partnership with Washington state-based Symetra Life Insurance Co., which will provide money and staff resources to support startup companies working at Nassau's downtown insurtech incubator.

The companies did not disclose financial details of the partnership, but Nassau Chief Marketing Officer Paul Tyler said Symetra will make executives available as mentors to budding startups working out of the downtown Hartford insurtech incubator -- dubbed Nassau Re/Imagine -- and possibly invest in the companies.

Nassau launched its insurtech incubator last year on the fifth floor of downtown Hartford's Boat Building. Nassau said then it will offer domestic and international entrepreneurs more than 48,000 square feet of flexible workspace to gain clout in various emerging corners of the insurance industry for at least the next three years.

Symetra, which has more than 1,700 employees across 17 U.S. locations, said the partnership will provide employees at the life insurance company's Enfield location greater access to Hartford’s "vibrant innovation network.

"[The partnership] will tap the creative and developmental opportunities in the region’s deep insurance industry talent pipeline," said Harry Monti, Symetra's executive vice president of the company's benefits division, who will join the Nassau Re/Imagine board.

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