All News
We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Aflac Corporate Ventures invests in Sharecare to accelerate digital health innovation
Sharecare, the digital health company that helps people manage all their health in one place, today announced an investment from Aflac Corporate Ventures, the corporate ventures arm of Aflac Incorporated.
Global insurtech investment tops $10 billion in 2021
Global investment in insurance technology (insurtech) start-ups totalled $10.5 billion in the first nine months of 2021, a record high level for the period, reinsurance broker Willis Re said on Wednesday.
Insurtech startup Sana Benefits raises $20M to disrupt health insurance for small business
Sana, a provider of health insurance for small and midsize businesses, announced today the closing of $20M in series A extension funding.
Grace Hanson joins Hippo as its first Chief Claims Officer
Digital home insurer Hippo hired a former Hiscox executive to be its first Chief Claims Officer, with a mission to expand claims operations for the now publicly-traded California-based InsurTech as it grows nationally.
Issues to consider in insurance-technology partnerships
Insurance companies are investing heavily in technology, machine learning, robotic process automation, data aggregation and analytics – and many other innovative tools – to improve their operations, bolster their customer service and customer experience, and enhance their underwriting, pricing, and loss control capabilities.
Small business insurtech Coterie Insurance raises $50 million
Coterie Insurance, the insurtech company making small business insurance easy, today announced the completion of a $50 million Series B financing round — totaling $75 million raised since its founding in 2018.
Amica partners with insurtech Shift Technology
Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, announced today that Amica, the longest-standing mutual insurer of automobiles in the United States, will deploy three solutions from the Shift Insurance Suite.
Zesty.ai Introduces Predictive Wildfire Risk Analytics Solution
American property insurance and climate risk analytics startup Zesty.ai has unveiled a predictive wildfire risk analytics solution, Z-FIRE a data-driven model powered by AI and comprehensive fire science.
Root, Metromile further encroaching on traditional auto underwriters’ turf
The two publicly traded full-stack personal auto insurance companies recently disclosed plans to further expand their distribution networks into the independent agent channel.
Guy Carpenter launches insurtech Centre of Excellence
Guy Carpenter has launched an insurtech Centre of Excellence (COE) offering customised broking, advisory and analytical services for insurers and Managing General Agents (MGAs) on cutting-edge technology platforms.
How Blockchain can solve insurance verification
The Institutes RiskStream Collaborative, a consortium that counts companies like Nationwide and USAA as contributors, is moving forward with digital proof of insurance using blockchain technology.
Getsafe receives European Insurance License
The digital insurer Getsafe received its insurance license from Germany’s financial regulator, BaFin. The license will allow Getsafe to accelerate its expansion to the rest of Europe.
Brazilian insurtech Justos raises $35.8M in Ribbit Capital-led Series A
Justos, a startup that says it will be the first insurance company in Brazil to use data when determining rates, has raised a $35.8 million Series A round of funding led by Ribbit Capital.
The Future of Employee Benefits is Hyper-personalised
Most plan members want to see more personalized product recommendations and more personalized assistance to understand their coverage and maximize their benefits plan.
Climate Modeler Startup Jupiter Raises $54M
Jupiter, a global climate modeling and technology startup, has nailed down a $54 million financing round – money that will help accelerate sales and marketing efforts. A big boost in research and development is also in the cards.
Metromile Expands Reach Through Independent Agents
Metromile, a leading digital insurance platform and pay-per-mile auto insurer, today announced a significant expansion of its Independent Agents program, along with the appointment of Scot Rankin, a 30 year insurance veteran, as Independent Agency Relationship Manager.
Claim Genius Raises $6 Million in Series A3 Funding
Claim Genius, a rapidly emerging global InsurTech leader of AI-based claims solutions advancing the automotive industry, announced the closing of its $6 million Series A3 funding round today, following its earlier funding of $7.8M; now totaling $14.8M to-date.
Plum Life Raises $2.45M Seed Round
Plum Life Inc announced today it closed a $2.45M seed round led by Sonostar Ventures, LLC back in Q2 of this year.
NEXT Insurance announces new embedded insurance product
NEXT Insurance, the leading digital insurtech company transforming small business insurance, today announced the availability of NEXT Connect, a trusted embedded insurance solution for some of the leading small business software ecosystems in the U.S.
How insurtech is driving robust M&A activity in the industry
Mergers and acquisitions (M&A) in the global insurance industry dropped by 3% in the first half of 2021, with 197 deals completed worldwide, down from 206 in the second half of 2020, and 201 at the same point last year, according to Clyde & Co’s Insurance Growth Report mid-year update.
Aon launches new Well One health app with dacadoo
Aon launches a new Well One health app for corporate workforces in Germany, providing employers with a data-driven way to optimize their wellbeing strategy.
Guy Carpenter launches risk assessment tool for European wildfires
Global risk and reinsurance specialist Guy Carpenter & Company, a subsidiary of Marsh McLennan, has announced the launch of Wildfire Risk Score, a tool designed to help manage their exposure to the risk of wildfire across Europe.
The rise of the exponential underwriter
As the insurance industry adapts to shifting market conditions, some roles will likely need to be transformed as well. Learn how insurers could multiply value creation by modernising the underwriting function now.
Guidewire Launches Program to Connect Its Insurance Customers to Possible InsurTech Partners
Guidewire Software has launched a new program designed to connect its insurance industry customers to up-and-coming InsurTechs.
Bowtie raises US$22 million
Bowtie, the first company to receive a virtual insurance licence in Hong Kong, has raised US$22.6 million (SG$30.4 million) in its series B1 funding round, led by Mitsui & Co., with participation from existing investor Sun Life Hong Kong.
Lydia AI secures $10 million CAD to make health insurance more inclusive
Insurtech startup Lydia AI, formerly Knowtions Research, has raised $10 million CAD ($8 million USD) to launch the first series of insurance products using its health score technology in Taiwan, as it targets the Asia-Pacific insurance market.
Descartes announces partnership with ICEYE to offer parametric flood insurance
Descartes Underwriting (part our Future50 Europe) today announced a partnership with ICEYE, a leader in persistent monitoring and provider of flood hazard data.
Cover Genius partners with Rhino to offer embedded insurance to renters
The Rhino Renters Insurance Program offers embedded renters’ insurance to create a more seamless, end-to-end experience for renters, building managers and landlords.
The 4 tips for building essential technology solutions – Interview with Peter Reynolds, Head of Insurance, International at Earnix
This week, we spoke with Peter Reynolds, Head of Insurance, International at insurance and financial services solutions partner Earnix. We discussed shifting commercial expectations, the process of product development and the technology trends that are shaping the future of insurance
Aon collaborates with Kovrr to improve cyber risk quantification for its clients
Kovrr announced it is collaborating with Aon to provide cyber risk modeling (re)insurance solutions that support growing demand from Aon clients for data-driven insights on cyber exposures.
Supply chain-focused insurtech startup BondAval lands $7M
For independent retailers, inventory financing is often a complicated and lengthy process that ties up their working capital. BondAval, an insurtech startup with offices in London and Austin, Texas, is focused on helping them access better credit terms while providing assurance to suppliers that they will be paid on time.
TigerRisk partners with cutting-edge data analytics firm Pinpoint Predictive
TigerRisk Partners LLC, a risk, capital and strategic advisor to the global insurance and reinsurance industries, has announced a partnership with Pinpoint Predictive, the leading analytics platform providing powerful new predictive signal to insurers via individualised data enrichment and explainable analytics.
Cyber insurer BOXX Insurance and cybersecurity firm Asceris announce partnership
BOXX Insurance, the Toronto-based fast-growing cyber insurtech (part of our Future50 Americas), has announced a new partnership with security consulting firm Asceris.
Insurtech startup Weecover secures €2.3M seed funding
Weecover, a Spanish startup specialising in embedded insurance, has raised €2.3M in its seed round of funding.
Insuright raises $22 million seed investment
Led by Group 11, the round will help the company bring simplicity and transparency to the historically complex industry of employer-sponsored health benefits in the U.S.
Marsh McLennan unveils Cyber Risk Analytics Centre
Marsh McLennan has announced the launch of its Cyber Risk Analytics Center, an enterprise-wide resource that combines the cyber risk data, analytics and mitigation expertise of its Marsh, Guy Carpenter, Mercer, and Oliver Wyman businesses
Hong Kong insurtech Avo raises $33.4 million
Avo Insurance Company, which identifies as Hong Kong’s first virtual general insurance company, has secured an additional $33.4m in funding.
The $5 trillion insurance industry faces a reckoning. Blame climate change.
Insurers are getting rocked by climate disasters. They’re also shaping how we prepare for the next one.
CoverGo to expand into the US, Canada and Latin America
Insurance technology company CoverGo is expanding its business to the US, Canada, and Latin America.
UnipolRe empowers carriers with new telematics offering
UnipolRe, part of UnipolSai Assicurazioni, has rolled out a new telematics offering designed to enable its clients to integrate sophisticated and robust telematics technology into their motor insurance offering.
Tesla Insurance officially available in Texas
Tesla now offers car insurance in Texas, its new home state, a couple of years after launching the product in California.
UBI — As In, ‘You Better Investigate’ Now
A look at the digital capabilities insurers need to tap the massive market potential of usage-based auto insurance.
AXA to invest $1.74 billion to fighting deforestation
AXA is making new environmental commitments in order to combat the threat of deforestation.
Medicare Advantage startup Devoted Health rakes in $1.15 billion in Series D funding
Health insurance technology startup Devoted Health has raised a whopping $1.15 billion in a Series D funding round. After the round closed, the company’s valuation reached $12.6 billion.
Branch Partners with SimpliSafe to Offer Proactive Protection
Branch, the startup that pioneered instantly-bundled home and auto insurance, today announced a partnership with SimpliSafe, maker of award-winning security systems, to offer its members significant discounts on their home insurance.
Lyft and Mobilitas Expand Insurance Partnership into 18 States
Mobilitas Insurance, the commercial insurance company dedicated to providing insurance protection to the unique and emerging demands of the sharing economy and mobility sector, announced that it was selected by Lyft to expand ride-sharing commercial insurance coverage to 18 states.
Allianz warns of cyber pandemic driven by ransomware
As countries around the world continue to grapple with the COVID-19 pandemic, another outbreak has taken place in the cyber world, according to Allianz Global Corporate & Specialty (AGCS). The specialty insurer is referring to the digital pandemic driven by ransomware.
Zurich partners in program to boost climate resilience
Zurich North America, the Z Zurich Foundation and Resilient Cities Network have announced a collaboration to create a multi-year program designed to strengthen climate resilience and help address social inequities in vulnerable communities in Houston and Boston.
Singapore-based insurtech Surer raises US$1M in seed round
Surer has raised US$1M in its seed round of funding from Norwegian private investment company Kistefos, global specialist insurer Markel Corporation through its insurtech investing arm, Markel Digital Investments, and an angel investor. Antler, a global early-stage venture capital firm, also invested in Surer in an earlier round.
Superscript unveils subscription-based shop insurance
SME insurance provider Superscript (part of our Future50 Europe) has launched a subscription-based insurance product for small independent shops.
At-Bay closes $20 million to extend Series D round to $205 million
At-Bay today announced the closing of a $20 million extension to the company’s Series D financing, adding new investor ION Crossover Partners.
London-based insurtech Humn secures £10.1M funding to enable real-time fleet insurance
As per a report, there are over 31.5 million cars registered in the UK, in 2018. The insurance industry also paid out over £13.4 billion in claims back in 2017, which goes to show how crucial vehicle insurance is.
How carriers can maximize agent performance
The news of the death of the agent has been greatly exaggerated. Agents control about 80% of the homeowner market and 65% of the personal auto market today because most customers still prefer to do business with agents.
Swiss Re taps TNEDICCA to improve auto insurance pricing in US
Swiss Re has teamed up with TNEDICCA, a traffic crash data and location risk analytics provider, to improve auto insurance pricing.
Munich Re Ventures announces new $500mn startup investment fund
Munich Re Ventures, the insurtech and related risk technology investment arm of the global reinsurance company, has closed a $500 million capital raise for a new Munich Re Fund II and now looks to broaden its approach to investing in the most innovative start-ups transforming the future of risk.
Haven Technologies and Unqork Announce Partnership to Make Life Insurance More Accessible
Haven Technologies and Unqork have announced a new partnership to help insurers in the life, annuities and disability industries enable better digital interactions, facilitate core insurance capabilities and integrate with a broader technology infrastructure.
Verisk invests in London insurtech HUG HUB
Global data analytics provider Verisk has made a strategic investment in London-based Insurtech HUG HUB (part of our Future50 Europe) in an agreement designed to enable the latter to expand and improve its platform.
Crabi Raises $4 Million in Seed Funding
The company makes it easier and created a more transparent process for people to get insured.
New insurtech Getlife launches in Spain
Getlife, the new insurtech that aims to revolutionize life insurance by selling affordable, fair and easy products throughout Europe, has raised € 1 million of financing in a pre-seed investment round and the largest in the insurtech industry in Spain.
MAPFRE and Koa Health strike strategic partnership to improve mental health in Costa Rica
Today, MAPFRE, one of the leading insurers in the Spanish and Latin
American market, announces its partnership with Koa Health, a digital mental healthcare provider
offering personalized solutions backed by science.
Do you have news you would like to share with the World's Largest Insurtech Community?
Please feel free to send us an email
news@insurtechinsights.com
