State Farm Ventures

Attention Startups!

How do you use technology in innovative ways to help combat wildfires? As we continue to help customers proactively mitigate residential risks, we're also looking to the future of wildfire detection with advanced sensors. Digital smell for early wildfire detection is one emerging technology that the State Farm Ventures team is exploring. With this technology, sensor networks process and distinguish wildfire odor signatures in microscopic amounts. This could enable first responders to recognize wildfires before visible smoke or fire and minimize the risk to people, property, and the environment. As National Wildfire Awareness Month comes to a close, we continue to find new ways to help prevent loss, ideate new ways to increase value for customers, and explore, develop, and engage in innovative solutions now and for the future. #NationalWildfireAwarenessMonth Visit https://lnkd.in/ghStKBBS to learn more about opportunities to innovate and collaborate.

What does skill advancement look like in the age of AI? As we continue to empower associate knowledge building through a variety of programs, we’re also looking to the future of learning with AI. AI-Powered Learning Experience Platforms (AI-LXP) is one emerging technology we’re exploring. With this technology, algorithms ingest training data from chosen sources to enhance learning and development experiences. This could enable talent to efficiently onboard and learn or update skills, capabilities, methods, and roles on-demand and at their own pace. Whether it's adopting new ways to learn with AI or ideating new ways to increase value for customers, we are on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com or visit us at State Farm Ventures to learn more about opportunities to collaborate and innovate with us.

State Farm® Innovation Group has established a strong presence in Silicon Valley with the State Farm Silicon Valley Office (SVO) since 2014. Celebrating its 10 year anniversary, the SVO has elevated the reputation of State Farm in insurance innovation, partnerships, investments, and employment. Initially starting small, the SVO now houses teams focused on scouting IT solutions and identifying forward-looking opportunities. Located in the heart of Silicon Valley, the office has easy access to cutting-edge technologies and potential investments. By identifying market signals, such as funded solution types and emerging companies, the SVO gives State Farm a competitive edge through early access to technology and key relationships with innovative companies. The SVO teams are currently exploring trends in various fields, including aerial data, AI, blockchain, connected home and IoT, insurance technology, mobility and safety, quantum computing, telematics, and virtual and augmented reality. Congratulations to the @StateFarm SVO for ten years of technology and innovation at the forefront! Learn more about innovation at State Farm.  https://lnkd.in/gpAvY-Zb

As part of our longstanding commitment to fostering safer homes and communities, Ting is offering eligible customers more than two million smart sensors for free as part of an expansion of the Ting fire safety program. https://lnkd.in/gX2Hvbcu

We are recognizing Women’s History Month throughout the month of March. One way we highlight the importance of women in technology is through the Tech Astra® program! Tech Astra® is propelling girls to academic excellence and creating new possibilities with a mastery in science, technology, engineering and math. Tech Astra® has ongoing events and programs throughout the year, both in person and virtual. Discover what’s possible. Check out our activities page for more information: https://lnkd.in/g4FCPh9M Interested in a career at State Farm? Check out our hiring page today.

How is generative AI influencing personal-device technology? As we continue to explore artificial intelligence, we’re also monitoring the evolution of AI as it relates to consumer spaces. AI-powered personal devices such as smartphones are just one of the emerging trends we’re observing. With this technology, scaled-down large language models enable gen AI features on devices like text and audio summarization, generative search, live text and call language translation, all without requiring an internet connection. It’s opening a world of possibilities for solutions on personal devices. Whether it's proactively assessing emerging trends or ideating new ways to increase value for customers, we are on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com or visit us at State Farm Ventures to learn more about opportunities to collaborate and innovate with State Farm.

State Farm Ventures is honored to be featured in the Q4 2023 edition of the Gallagher RE Global InsurTech Report – a publication that reviews global InsurTech funding and investment quarter over quarter, with a specific focus on the funding lifecycle of InsurTechs in 2023. Our team shared thoughts around late-stage venture investments that still meet our strategic return thresholds as a CVC, and we also highlighted portfolio companies Snapsheet Inc and HOVER Inc. State Farm Ventures content begins on page 40. A special thank you to the Gallagher Re team for thinking of us and allowing us to share more about our program and our projections for the InsurTech landscape over the coming years.  https://lnkd.in/g_pc4TK8

AI + Large Language Models, Cybersecurity friends or foes? As we continue to explore emerging technology, we’re especially aware that hackers are exploring the same things and now have a much lower threshold to create cyberattacks. With this lowered bar, it's possible that 2024 becomes the year of cybersecurity. That is why we are constantly evaluating and advancing our Cyber Resiliency strategy and a roadmap that leads to AI Cybersecurity integrations. Whether it's studying new ways to protect critical assets with AI or ideating new ways to increase value for customers, we are on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com or visit us at State Farm Ventures to learn more about opportunities to collaborate and innovate. #DataPrivacyWeek

The State Farm Ventures team will be at the Consumer Electronics Show in Las Vegas this week, January 9-12! Look for us and a few of our portfolio companies at the following booths: BlackBerry/ Car IQ Inc. (#4224), Owl Autonomous Imaging (#6867), PreAct Technologies (#6366), and May Mobility (#6841). We’ll also be scouting for new tech startups focused on innovative safety solutions to help our policyholders live smarter and safer lives. #CES2024