Google 'Definitely' Interested in Other Insurtech Investments Following Applied Systems

Google is eager to invest in other insurance technology companies well beyond its newly announced minority stake in Applied Systems, a principal investor with the global search engine giant said on Oct. 17. "We really like the market," said Jesse Wedler, a principal with CapitalG, the growth equity investment fund of Google's parent Alphabet. "We will definitely be looking for additional investments in the insurance technology space." Wedler, speaking during a second conference call held to discuss CapitalG's new investment in Applied, said he didn't want to define the scope of CapitalG's insurance technology investment search "too narrowly." However, he said the search would be for other businesses like Applied, ones "that add insurance technology to the market."