Aviva Canada launches Pitch Day event; Aviva Ventures investing $180 million over five years in disruptive, high potential digital startups

Aviva Canada announced on Monday that it will host its first-ever Pitch Day event in Toronto on Oct. 11.

Aviva Canada said in a press release that Aviva Ventures is investing $180 million over the next five years in “disruptive, high potential digital startups” around the globe.

The call for submissions is now open and will close on Aug. 26. Through a selection and short-listing process, the top 10 Canadian-based digital startup submissions will pitch to a panel of Aviva advisors in Aviva’s new digital development shop in downtown Toronto for their chance to be considered for an investment of up to $10 million, the release noted.

“Pitch Day is another way we’re fostering digital innovation in the insurance industry and staying on the forefront of technology that’s cutting edge,” said Ben Isotta-Riches, chief information officer at Aviva Canada. “We’re excited to make investments and collaborate with startups that can offer new, creative and unique ideas to our company and add value for our customers.”

Canadian startups interested in participating in Pitch Day can visit http://avivapitchday.ca/ to view the requirements and submit an application. In order to qualify for Pitch Day, startups must specialize in one of four investment categories: ‘The Internet of Things’ (IoT), data and analytics, distribution or innovative new propositions for customers.

Related: Silicon Valley technology accelerator announces call for applications from insurance startups

“We continue to thrive in the digital space with a portfolio of businesses Aviva Ventures has invested in so far in the U.K.,” said Ben Luckett, managing director of Aviva Ventures, in the release. “We’re ready to hit the ground running to meet the growing market opportunities of high-growth, digital startups in Canada.”

Aviva Canada provides home, automobile, leisure/lifestyle and business insurance to more than three million customers in the country. Launched in December 2015, Aviva Ventures is Aviva’s corporate venture fund and is wholly-owned by Aviva plc. It is currently operating out of Aviva’s digital garage in London, England. The fund aims to invest 100 million pounds over the next five years into startup businesses that will disrupt, lead and transform the insurance industry.