A startup’s ability to solve specific problems faster than a large corporation is a big advantage for the corporation, Sibylle explains, and by aligning its activities with a company’s corporate strategy, a startup has an opportunity to benefit from the corporation’s resources. She highlights the Baloise Simply Safe corporate strategy, which outlines the company’s goals and initiatives, and guides how Baloise collaborates with startups. The Simply Safe strategy aims to make customers’ lives easier and safer in the areas of core insurance and larger ecosystem of home and mobility. “Becoming a more agile, resistant and resilient organization underlies the whole strategy,” she says. 

Sibylle started her career in mergers and acquisitions at Deutsche Bahn, and joined Baloise in 2010. Since 2017, she’s been part of the investment committee of Anthemis Baloise Strategic Ventures, the corporate venture capital arm of Baloise that manages a €100 million fund and invests in early-stage startups in the US, UK, Europe and Israel. Sibylle is responsible for corporate venture capital activities within Baloise and connects interesting startups with the business.

Using Baloise as an example, Sibylle explains that collaboration among startups and corporations can begin by matching a company’s needs to startups in the market, or by having a startup approach the corporation with a clear problem and solution.

Then, the corporation might run a proof of concept test that can turn into a long-term partnership or investment. In addition to this, Baloise partners with global accelerators and incubators to scout for innovative solutions, and Sibylle encourages founders to join these programs.

There are three areas Sibylle highlights as opportunities for startups to collaborate with corporations for financial innovation: improving the customer experience, diversification and sustainability. “Making the customer experience, in insurance and the larger ecosystem, seamless, safer and simpler is where I think founders have a lot of potential,” she says. She also identifies mortgages and life insurance as areas where startups can have a big impact.

Sibylle explains that Baloise is always looking to collaborate with startups that can make it easier for customers to interact with the company. For example, in 2017, Baloise collaborated with startups KASKO and Picsure to create a single-item insurance product for watches using artificial intelligence. Clients can upload a photo of their watch and immediately receive an insurance quote. “From this, we developed single-item insurance where we have various partners that we can serve and deliver products with,” says Sibylle.

Sustainability is a key element of Baloise’s corporate strategy and an area where Sibylle believes startups can play a key role. One way the organization supports this is by investing in startups focused on climate protection. “They have a better risk return rate, deliver better financial results to us and have a positive impact on the environment and society,” says Sibylle. For example, via Anthemis Baloise Strategic Ventures, Baloise invested in Stable, which provides insurance to farmers that compensates them for lost income due to price volatility.

When building relationships with internal stakeholders at corporations, Sibylle suggests founders stay in regular contact to provide company updates and present opportunities for collaboration based on the corporation’s current priorities. “If the startup sees the right angle for collaboration, it’s easier for us to find the right people within our group,” says Sibylle.

[ Read also: Starting a business in the Basel Area: What you need to know ]

A version of this article is included in Startup Guide Basel Area, alongside many more expert insights and useful tips. Order your copy now!

Written by Alexandra Connerty

Repackaged by Anastasia Ilcov

Photography by Jasmin Frei