Corporate venturing has some similarities to what R&D is in many industries. Not much used in insurance, but something that could bode well for larger companies if considered consistently and strategically.
Corporate venturing has some similarities also with Venture Capital (VC). As you would expect. There is certainly shared territory here even though some venture capital units do not like so much newbies corporate venture capital units.
Article source: https://alchemycrew.com/what-is-corporate-venturing/