Munich Re Ventures, established in 2015, is the venture capital arm of Munich Re, a global leader in reinsurance and insurance-related risk solutions. Based in San Francisco with additional offices in Germany, the firm invests in innovative startups transforming the future of risk and risk transfer. Munich Re Ventures focuses on stage-agnostic investments, with a preference for early stage and growth capital, across sectors such as artificial intelligence, cybersecurity, digital health, insurtech, IoT, and climate tech. The firm collaborates closely with Munich Re's global businesses to fund and partner with emerging companies developing new technologies and business models, while also considering strategic interests and geographic limitations.
Managing Director, Insurtech, Cybersecurity and Privacy
Jacqueline LeSage Krause
Managing Director
Jacqueline LeSage
Managing General Partner
Sidra Lefort
Director, HealthTech, Cybersecurity and Privacy
Matt McElhattan
Managing Director
Peter Ortez
Principal, ClimateTech, Future of Transportation
Julia Pardee
Associate, Cybersecurity and Privacy
Blake Pennington
Principal, Cybersecurity and Privacy and Future of Transportation
Stephanie Watkins JD
Senior Vice President, Global Insurance Innovation Group
Past deals in Risk Management
High Definition Vehicle Insurance
Venture Round in 2025
HDVI is a technology-first commercial insurance provider. The company assesses risk using historical and real-time telematics data and provides tools and services that help fleets increase safety, rewards safe driving, and delivers efficient and fair claims processing. HDVI is headquartered in Chicago with additional offices in Greenville, South Carolina; Columbus, Ohio; Portland, Oregon; Dallas and San Francisco. High Definition Vehicle Insurance, Inc. is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, visit https://hdvi.com.
Stoïk
Series B in 2024
Stoïk is a cyber insurance company that integrates cybersecurity software with insurance protection, helping businesses manage their cyber risks effectively. Stoïk empowers brokers by offering clients comprehensive insurance policies and protection against cyber risks. Its mission is to equip brokers with the tools to help their clients insure and safeguard against cyber threats. Stoïk's unique product simplifies the underwriting process using automated tests, replacing traditional questionnaires. It also provides continuous risk prevention through integrated cybersecurity tools and ensures swift, effective incident response with an in-house team of crisis management experts.
Sepio
Series B in 2024
Sepio has developed an innovative asset risk management platform focused on protecting organizations from hardware-based attacks. Unlike traditional methods that monitor asset activity, Sepio's solution uses physical layer asset DNA profiling to provide actionable visibility and control over hardware assets. This platform enables security teams to gain comprehensive insight into their infrastructure, regardless of whether it includes IT, OT, or IoT components. With trafficless monitoring, the solution reports the actual assets present within 24 hours, along with associated risk factors, allowing for effective policy enforcement and mitigation of rogue devices. By enabling administrators to define granular usage rules and continuously monitor their hardware assets, Sepio enhances cybersecurity posture and helps organizations manage their assets efficiently and securely.
Stoïk
Series A in 2023
Stoïk is a cyber insurance company that integrates cybersecurity software with insurance protection, helping businesses manage their cyber risks effectively. Stoïk empowers brokers by offering clients comprehensive insurance policies and protection against cyber risks. Its mission is to equip brokers with the tools to help their clients insure and safeguard against cyber threats. Stoïk's unique product simplifies the underwriting process using automated tests, replacing traditional questionnaires. It also provides continuous risk prevention through integrated cybersecurity tools and ensures swift, effective incident response with an in-house team of crisis management experts.
FloodFlash
Series A in 2022
FloodFlash, established in 2016 and headquartered in London, specializes in tech-enabled flood insurance. It offers instant-settlement coverage using IoT flood sensors and parametric insurance principles. Customers select a flood depth and payout amount, and upon detection by the installed sensor, claims are swiftly settled. FloodFlash targets uninsured flood risks, aiming to protect those traditionally underserved by the insurance industry. It has raised £2.1 million in investment and is authorized by the Financial Conduct Authority.
High Definition Vehicle Insurance
Series B in 2021
HDVI is a technology-first commercial insurance provider. The company assesses risk using historical and real-time telematics data and provides tools and services that help fleets increase safety, rewards safe driving, and delivers efficient and fair claims processing. HDVI is headquartered in Chicago with additional offices in Greenville, South Carolina; Columbus, Ohio; Portland, Oregon; Dallas and San Francisco. High Definition Vehicle Insurance, Inc. is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, visit https://hdvi.com.
At-Bay
Series D in 2021
At-Bay, Inc. is a cyber insurance provider based in Mountain View, California, with an additional research and development center in Tel Aviv, Israel. Founded in 2016 and formerly known as Cyberjack Inc., At-Bay offers tailored cyber insurance policies that cover a range of risks, including information privacy, network security, cyber extortion, and financial fraud. The company combines advanced technology with insurance services, focusing on proactive risk management and comprehensive risk assessment to help businesses manage their cyber risks effectively. At-Bay serves nearly 40,000 businesses in the United States, protecting up to $800 billion in collective revenue. In addition to its insurance offerings, At-Bay provides proprietary cybersecurity solutions, enabling clients to safeguard their digital operations against evolving threats.
At-Bay
Series C in 2020
At-Bay, Inc. is a cyber insurance provider based in Mountain View, California, with an additional research and development center in Tel Aviv, Israel. Founded in 2016 and formerly known as Cyberjack Inc., At-Bay offers tailored cyber insurance policies that cover a range of risks, including information privacy, network security, cyber extortion, and financial fraud. The company combines advanced technology with insurance services, focusing on proactive risk management and comprehensive risk assessment to help businesses manage their cyber risks effectively. At-Bay serves nearly 40,000 businesses in the United States, protecting up to $800 billion in collective revenue. In addition to its insurance offerings, At-Bay provides proprietary cybersecurity solutions, enabling clients to safeguard their digital operations against evolving threats.
High Definition Vehicle Insurance
Series A in 2020
HDVI is a technology-first commercial insurance provider. The company assesses risk using historical and real-time telematics data and provides tools and services that help fleets increase safety, rewards safe driving, and delivers efficient and fair claims processing. HDVI is headquartered in Chicago with additional offices in Greenville, South Carolina; Columbus, Ohio; Portland, Oregon; Dallas and San Francisco. High Definition Vehicle Insurance, Inc. is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, visit https://hdvi.com.
Sepio
Series A in 2020
Sepio has developed an innovative asset risk management platform focused on protecting organizations from hardware-based attacks. Unlike traditional methods that monitor asset activity, Sepio's solution uses physical layer asset DNA profiling to provide actionable visibility and control over hardware assets. This platform enables security teams to gain comprehensive insight into their infrastructure, regardless of whether it includes IT, OT, or IoT components. With trafficless monitoring, the solution reports the actual assets present within 24 hours, along with associated risk factors, allowing for effective policy enforcement and mitigation of rogue devices. By enabling administrators to define granular usage rules and continuously monitor their hardware assets, Sepio enhances cybersecurity posture and helps organizations manage their assets efficiently and securely.
At-Bay
Series B in 2020
At-Bay, Inc. is a cyber insurance provider based in Mountain View, California, with an additional research and development center in Tel Aviv, Israel. Founded in 2016 and formerly known as Cyberjack Inc., At-Bay offers tailored cyber insurance policies that cover a range of risks, including information privacy, network security, cyber extortion, and financial fraud. The company combines advanced technology with insurance services, focusing on proactive risk management and comprehensive risk assessment to help businesses manage their cyber risks effectively. At-Bay serves nearly 40,000 businesses in the United States, protecting up to $800 billion in collective revenue. In addition to its insurance offerings, At-Bay provides proprietary cybersecurity solutions, enabling clients to safeguard their digital operations against evolving threats.
Trōv
Series D in 2017
Trov is a leading insurance technology platform that focuses on providing innovative digital insurance products and data-driven solutions. Established in 2012 by entrepreneur Scott Walchek, Trov's platform facilitates the delivery of modern insurance solutions for homeowners, renters, drivers, and small businesses. By combining advanced software with tailored insurance offerings, Trov addresses the complex risk management challenges faced by companies in the mobility and gig economy sectors. The platform supports various insurance functions, including quoting, policy management, billing, and claims management, enabling insurance carriers and financial institutions to offer fully digital insurance experiences to their clients. Trov has attracted significant investment, raising over $114 million from prominent venture capital firms and strategic partners, and operates from its headquarters in the San Francisco Bay Area, with additional offices in New York and London.
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