Cincinnati Financial Corp.’s property casualty subsidiary, Cincinnati Insurance Co., will open an innovation center within the University of Cincinnati’s 1819 Innovation Hub in early 2019, the company said.
UC is one of 115 institutions that are classified as “R1: Doctoral Universities – Highest research activity” in the Carnegie Classification of Institutions of Higher Education. With UC’s 1819 Innovation Hub serving as the new “front door” to talent, research, and resources, Cincinnati Insurance sees an opportunity to complement its headquarters Innovation Hub.
Cincinnati Insurance plans to house a testing facility within this new space. It will also serve as the center for all recruiting and engagement activity at UC and it will be used for offsite ideation meetings for associates and agents. The company envisions three to five innovation projects taking place within the space at any given time, serving as a conduit for student and faculty engagement.
The 1819 Innovation Hub boasts a venture lab for startups, multi-purpose rooms, state-of-the-art classrooms, a maker space and creative collision spaces.
Construction on Cincinnati Insurance’s innovation lab is underway, and the company’s space is expected to be complete in the first quarter of 2019. It will join Kroger, Cincinnati Bell, Procter & Gamble, and CincyTech in its commitment to UC’s 1819 Innovation Hub.
“Our vision is to be the best insurance company serving independent agents,” Teresa Cracas, senior vice president and chief risk officer for Cincinnati Insurance, said in the company’s announcement. “The innovation hub is a way to test ideas that help us achieve this vision and to bring the best ideas to life in our business. UC provides thought-leadership in the innovation space and connects us to talent that will be helpful to us on our innovation journey.”
Cincinnati Financial Corp. offers business, home and auto insurance, our main business, through The Cincinnati Insurance Company and its two standard market property casualty companies.
Source: Cincinnati Financial Corporation
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