Founded in 2015, XL Innovate focuses on investing in startups that address emerging and underserved risk, disruptive insurance models, and high-value insurance data and analytics. They have made 18 investments with 10 portfolio companies and have had one exit. Some of their notable portfolio companies include Zendrive, Embroker, Lemonade, Stonestep, and Slice Labs. XL Innovate sponsors entrepreneurial teams with innovative ideas for insurance and risk management enhancements, and they provide capital, expertise, and resources to help these ventures succeed and make a positive impact on the insurance industry.