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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.
Swiss Re partners with Wysa for mental health app
Swiss Re has partnered with mental health platform Wysa to develop a new app specifically designed for the insurance industry.
Insurance Distribution Aims for Digital Service with a Personal Touch
We need to examine the insurer relationship to distributors in light of the customer mindset: What is changing with the customer and how they take in information? How do insurers and distributors adapt?
Tesla Insurance to go live in Texas this week
Tesla’s in-house insurance program will officially go live this week, Elon Musk revealed during the 2021 Shareholder’s Meeting held last night at Gigafactory Texas.
Socotra Unveils Industry’s First No-Code App Marketplace
Socotra, the enterprise-grade core platform that enables insurers to rapidly develop and deploy innovative products that better serve their customers, today announced its newest offering, Socotra Marketplace, with partners Betterview and Snapsheet.
Swiss Re’s iptiQ partners with Square Health to provide UK customers with digital protection benefits
Swiss Re’s InsurTech iptiQ and Square Health, one of the UK’s largest networks of medical professionals, come together to provide clients and their customers top quality health advice.
LI, AI and satellite ‘space tech’ to help cap insurer exposure
The convergence of location intelligence (LI), artificial intelligence (AI) and improved satellite technology, known collectively as “space tech”, is opening new opportunities in insurance and other industries such as logistics and agriculture.
Energetic Insurance raises $7 million
Credit insurance company Energetic Insurance announced the completion of a Series A financing of $7 million led by Schneider Electric Ventures with participation from MS&AD Ventures, MCJ Collective, and Atlantic Global Risk.
How Pikl is using technology to insure the sharing economy – Interview with CEO Louise Birritteri
Pikl, founded in 2016, has developed a suite of flexible insurance products designed for the sharing economy. For our Future50 Europe, we caught up CEO Louise Birritteri (pictured centre).
Insurtech, on the heels of a fintech boom, heats up in Africa
Insurance in Kenya and Africa at large remains a marginal product, with levels of penetration across the continent half the world average as a percentage of GDP, and premiums per capita 11-fold lower than the world average, according to a recent report by McKinsey and Co.
Insurer Chubb to acquire Cigna’s business in Asia, Turkey for $5.8 billion
US group says acquisition will expand region’s share of its global portfolio to 20%.
Insurity Acquires Maprisk
Insurity, a leading provider of cloud-based software for property and casualty (P&C) carriers, brokers, and MGAs today announced that it has completed the acquisition of Maprisk.
Neptune Flood Announces Acquisition of Jumpstart Insurance
Neptune Flood, part of our Future50 America, has acquired Jumpstart Insurance Solutions, the leading parametric insurtech, adding parametric earthquake to its portfolio of technology-based insurance products.
Technology won’t alter essence of insurance: Evan Greenberg, Chubb CEO
Technology will help usher insurance into the future, but it will not fundamentally change the industry, according to Evan Greenberg, chairman and CEO of Chubb Ltd.
Aon launches new cyber product for UK and EMEA businesses
Aon has launched Ransomware Defence, a new product offering that seeks to address the cyber insurability challenges of businesses in the UK and the Europe, Middle East and Africa (EMEA) region.
Getsafe extends Series B Round to $93 Million
Getsafe, the digital insurer targeting millennial buyers in Germany and the UK, has expanded its Series B funding round to $93M.
Here’s how Collective Benefits is transforming independent workers insurance – Interview with CEO Anthony Beilin
We recently included Collective Benefits as part of Future50 Europe. This insurtech is on a mission to transform independent worker insurance and has raised £9.3 million since its founding in 2019. We interviewed CEO Anthony Beilin (pictured left) to discuss his experience building a successful insurtech.
YC-backed Amenli raises $2.3M to provide insurance to Egyptian consumers
The average penetration rate for insurance in Africa is between 3% to 5%. South Africa makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt.
How top tech trends will transform insurance
Over the next decade, the fully tech-enabled insurer will bear little resemblance to today’s organisation. Five trends, individually and in combination, will have a seismic impact.
Nationwide partners with Amazon to offer Business Prime members insurance
Amazon and Nationwide announced Tuesday a partnership which will extend insurance offers to eligible Business Prime members in a pilot program set to run through December 2021.
Insurtech Cover Whale Announces $15.5 Million Seed Funding
Cover Whale, an Insurtech MGA focused on disrupting the commercial auto space, announced the completion of a $15.5 million fundraising led by investors Ambac Financial Group and TigerRisk Partners’ Applied Financial Technologies subsidiary.
LOOP Raises $21M Series A To Make Car Insurance More Equitable
Today, the car insurance industry is rife with bias; priced on things many would say has little or nothing to do with their driving.
Avetta Partners With NEXT Insurance to Provide Small Businesses With Affordable Coverage
Avetta, a provider of supply chain risk management software, announced today a unique partnership with NEXT Insurance, the leading insurtech company transforming small business insurance, to offer suppliers with affordable and customized coverage policy options.
Sure raises $100M at a $550M valuation to help companies launch insurance products with its ‘flexible’ APIs
Sure, an insurance infrastructure startup, announced today that it has closed on $100 million in Series C funding at a $550 million valuation.
How YuLife is building the future of life insurance – Interview with Sammy Rubin, co-founder & CEO at YuLife
YuLife was recently featured as part of our Future50 Europe. We caught up with co-founder & CEO Sammy Rubin to talk about how he is modernising the life insurance industry and helping customers live healthier lives.
Breeze Launches Online Portal to Streamline How Agents Sell Disability Insurance
Breeze, an insurtech focused on disability insurance, has launched the Breeze Agent Portal that streamlines how agents sell disability insurance and critical illness insurance to consumers.
VOOM Raises $15 Million to Provide Usage-Based Insurance to Underserved Mobility Segments
Already the leading commercial drone insurance provider in North America, VOOM is expanding coverage to motorcycles, light aircraft, rideshare & delivery drivers
Coalition Completes Acquisition of Attune Insurance
Coalition, the leading cyber insurance and security provider, today announced that it has acquired Attune, a managing general agent (MGA) and technology-powered broker platform for commercial insurance.
Insuring Commercial Drones: Liability or Opportunity?
Developments in drone technology are often heralded as having the potential to change the landscape of business operations, most prominently in the consumer goods shipping sector.
Smile launches the insurance industry’s first ‘Freemium’ model
In a first for Europe, online insurer Smile is expanding its business model
to include a ‘Freemium’ offering and making its app experience available
across Switzerland.
Stable raises $46.5M to help businesses manage ‘volatile’ commodity prices
Stable, an insurtech aiming to help minimize a businesses’ risk due to volatile commodity prices, today announced it has raised $46.5 million in a Series A round of funding led by Greycroft.
Haven Technologies Launches Advanced Cloud-Native Insurtech Platform
Haven Technologies is an advanced insurtech platform for the life, fixed annuities and disability industries. The newly launched Haven Technologies will leverage a SaaS model to make its solutions available to carriers.
Ladder Raises $100M in Series D Financing
Ladder, which providers flexible-term life insurance policies providing coverage ranging from $100,000 to $8 million, has raised $100 million in equity funding, a Series D that values the company at $900 million.
How Insurers Play a Big Role in Spurring Cybercrime
Ransomware extracted $18 billion in payments last year, and it’s expected there will be an attack every 11 seconds by this year’s end, a problem that some security experts and academic researchers say is exacerbated by the system meant to protect against cybercrime: the insurance industry.
Zego launches new flat rate policy to cater to fleet businesses in high demand
Commercial motor insurance provider, Zego, has launched a new flat rate insurance policy, further extending its choice of policies for fleet businesses.
Transforming the P&C customer experience – Interview with Christophe Dandois, co-founder & CEO at Leocare
Leocare is a French insurtech changing the way customers purchase and engage with their insurance policies. The startup has so far raised €20 million and attracted 50,000 customers since its founding in 2017. For our recently released Future50, we caught up with Leocare co-founder and CEO Christophe Dandois to talk about his experience building a successful insurtech.
Global M&A on track for record year – report
Companies making M&A deals outperformed the World Index by an average of 2.3 percentage points during the first nine months of 2021, driven largely by strong performance in the first two quarters of the year, Willis Towers Watson said.
Aviva completes sale of Italian GI arm for £284m
Insurer Aviva has completed the sale of its Italian General Insurance business to Allianz for £284m in a cash consideration.
Toronto-based cyber insurtech BOXX Insurance expands to United States
Hot off the heels of closing its Series A financing round and rapid growth in Canada, the BOXX Insurance Inc. team is pleased to announce its expansion to the US and its appointment of Hilario Itriago as BOXX USA President.
Underwriting for climate risk – Interview with Tanguy Touffut, CEO at Descartes
We recently included Descartes Undewriting in our Future50 Europe. In this interview, CEO Tanguy Touffut shares how his startup is changing underwriting in a time of growing climate risk.
Will Google Cloud and Tesla Torpedo the Insurance Industry?
This brief remark should scare the bejezus out of every insurance-industry executive: “Who knows more about your vehicle than the people who manufactured it?” said Andrew Rose, president of GM’s newly formed OnStar Insurance Services.
Loop Health raises $12 million in Series A funding round
Loop Health aims to be the “Oscar Health of India” and targets the country’s health insurance gap with its approach to primary care and insurance.
P&C insurtech fundraising falls in Q3
Following a record-breaking second quarter for new non-life insurtech-related funding, the pace in the third quarter has slowed despite seven $100mn-plus rounds so far.
Microsoft and At-Bay partner to offer data-driven cyber insurance coverage
Microsoft has announced a new multiyear commitment to help the insurance industry create superior and data-driven cyber insurance products backed by Microsoft’s security solutions.
Anansi raises £1.5 million seed funding
Anansi Technology, an embedded insurance platform for goods-in-transit, shippers’ interest and cargo, has raised £1.5 million seed funding led by Octopus Ventures.
Enabling embedded insurance – Interview with Lorenz Graeff, co-founder and CEO of bsurance
For our recent Future50 Europe, we caught up with Lorenz Graeff, the co-founder and CEO of bsurance. This Austrian insurtech helps its customers embed cloud-based insurance products directly at the point of sale.
Zurich North America partners with Chisel AI to improve construction underwriting
Zurich North America has partnered with technology provider Chisel AI to improve its construction underwriting processes.
67% of Insurance Carriers See Need to Digitise Payments
Small businesses that have experienced property loss or damage rely on their insurance companies to give them the funds they need to get back on their feet and stay in operation.
Climate Change Ranks as Top Concern for Insurers, Replacing Pandemic
Climate change has returned to the top of the list of biggest concerns for insurers as the rollout of the vaccine and the gradual lifting of health restrictions reduce fears of a pandemic in many countries.
Disrupting damage inspections – Interview with Eliron Ekstein, co-founder and CEO at Ravin AI
For our recent Future50 Europe, we interviewed Eliron Ekstein, co-founder and CEO of Ravin AI to discuss how he is disrupting the damage inspections process. Ravin AI was founded in 2018 and has since raised over $25 million.
Insurtech Urban Jungle appoints Ex-PwC Director as New CFO
Insurtech company Urban Jungle today announces Alan Rennie, previously a Director at PwC, as new Chief Financial Officer (CFO).
Parametric insurance – how it works and why interest is increasing
Traction is building for parametric insurance products and the innovative solution they represent to the substantial economic losses and adverse social impacts that natural catastrophes have on affected communities.
Stockholm-based insurtech startup Hedvig raises €38.6 million
Following its recent launch into Denmark, the Nordic neo insurer Hedvig announced today that it closed a €38.6 million Series B funding round led by Anthemis, with participation from existing investors including Cherry Ventures, Obvious Ventures, CommerzVentures, along with Swedish Novax, Nineyards Equity, Jonas Kamprad and Mathias Kamprad.
Insurance Firms Losing Ground to Insurtechs as Funding Reaches All Time High
Despite rising coverage demand brought about by the global pandemic, customers are being left rather unsatisfied with the convenience, advice and reach offered by their existing insurance providers, creating opportunities for new players and insurtech firms, according to Capgemini and Efma’s World Insurtech Report 2021.
Sureify Raises $15M in Series C Financing
Sureify, a leading digital insurance platform designed to modernize the life insurance and annuity industry, today announced a $15M Series C fundraise led by Aspen Capital Group with participation from existing investors.
Amwins names first chief underwriting officer
Mark Bernacki – who most recently served as executive vice president of Amwins Group’s underwriting division and president of Amwins Special Risk Underwriters – has now become the first chief underwriting officer at Amwins.
Cybersecurity insurance startup Coalition raises $205 million Series E
Coalition, a San Francisco-based cybersecurity insurance company, has raised $205 million in Series E funding, valuing the pre-IPO company at more than $3.5 billion.
Making insurance customer-centric – Interview with Cameron Shearer, CEO and Co-Founder at Superscript
As part of our Future50 Europe, we interviewed Cameron Shearer, the CEO and Co-Founder at Superscript to talk about his experience building an insurtech. Superscript offers fast and flexible small business insurance and recently announced a partnership with Amazon.
Neobanks’ latest ploy involves *ultra* cheap insurance
Digital bank execs have been scratching their heads for years about how to lure users into premium subscriptions. They’ve tried shiny cards, exclusive features, and even cashback.
Cover Genius raises £54 million
Cover Genius, an Australian embedded insurance startup that works with the likes of Booking,com and eBay, has secured £54 million in a Series C funding round led by Sompo Holdings Asia.
Plum Life Launches All-Digital Way to Sell Life Insurance
The company’s digital buying experience addresses the desire of consumers for professional advice combined with the convenience of a digital buying experience.
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