Insurtech

China: WeiyangX Fintech Review

China is Reported to Shut Down Illegal Cash Loan Platforms Bloomberg, citing sources close to the situation, reported that regulators in China has started to consider strengthening supervisions towards cash loan platforms, with high probability of shutting down illegal ones. This round of inspections will… Read More

Goji Appoints Peter Breitstone As New CEO

Specialist provider of P2P and marketplace lending products and services, Goji, announced on Friday it has appointed Peter Breitstone as its new CEO. According to the company, Breitstone has over 20 years of senior executive leadership experience at several global insurance companies, including Insureon, Zurich, and Aon…. Read More

FinTech Australia Shares Ecosystem Map as Fintech Booms Down Under

FinTech Australia, the national association for Australia’s Fintech industry, has just released a new member ecosystem map designed to visually depict the extraordinary growth in Australia’s Fintech industry in just four months. This week Australia’s inaugural Fintech festival Intersekt kicks off so the timing is important. … Read More

London Insurtech Insurdata Secures More Than $1 Million in Seed Funding

Insurdata, London-based insurtech firm that intelligently captures, enhances, scores and transfers high-resolution, peril-specific exposure and risk data, announced this week it has raised more than $1 million in seed financing from investors including Menlo Ventures, Anthemis Baloise Strategic Ventures and Plug and Play. Insurdata stated it… Read More

Insurtech Startup Wrisk Launches Equity Crowdfunding Offer on Seedrs

Wrisk wants to give insurance a digital upgrade and it is crowdfunding on Seedrs to finance its vision of of insurance. Wrisk is seeking a minimum raise of £500,000 at a pre-money valuation of £7 million. Launched today, the Insurtech company has already raised over… Read More

Canadian Insurtech Covera Raises $1 Million During Seed Financing Round Led By Ferst Capital Partners

Covera Technologies Inc., a Canadian-based insurtech start-up that uses technology to find its customers optimal insurance rates every year, has raised $1 million through its seed financing round led by Ferst Capital Partners with participation from fintech angel investors. The latest funding round follows the company’s $500,000… Read More

Lemonade Takes a Stand on Guns: “600​ ​Casualties​ ​from​ ​One​ ​of​ ​the​ ​Deadliest​ ​Mass​ ​Shootings​ ​in​ ​US​ ​History​ ​Made​ ​Us Rethink​ ​Our​ ​Coverage”

“We simply don’t understand why civilians need military-grade weapons, and we prefer not to insure them.” Discussing guns has become a polarizing topic, which is why most companies avoid gun discussion. Period. But Lemonade, the insurance tech company powered by artificial intelligence and behavioral economics, was founded… Read More

China: WeiyangX Fintech Review

Tencent Received License to Sell Insurance on WeChat and QQ This week, China Insurance Regulatory Commission (CIRC) announced that it had grant an operation license to Shenzhen Wei Min Insurance Agency Co. Ltd. Tencent owns a majority stake (57.8%) of this new insurer. Fubon Property… Read More

Root Insurance Expands Insurtech Platform in the U.S.

Car insurance company Root Insurance announced on Thursday it is expanding its services to drivers in Illinois, Utah, Oklahoma, and Indiana. Founded in 2015, the Ohio-based insurtech company claims to be the first insurance firm that was founded on the “principle of fundamental fairness.” It has… Read More

Accenture Teams Up With Duck Creek Technologies to Launch Blockchain Proof-Of-Concept for Medical Bill Auditing

Earlier this week Accenture announced it has formed a partnership With Duck Creek Technologies to launch a blockchain proof-of-concept for medical bill auditing. While sharing details about the collaboration, Cindy DeArmond, managing director and P&C Core Platforms Lead for Accenture in North America, stated: “These new… Read More

Insurtech Startup Slice Secures $11.6 Million During Series A Funding Round

On-demand insurance platform Slice Labs, Inc. announced on Thursday it has secured $11.6 million through its Series A investment round, which was led by XL Innovate with participation from Horizons Ventures, Munich Re/HSB Ventures, SOMPO, Plug and Play, and Tusk Ventures. Launched in 2016, Slice… Read More

Aviva Makes Strategic Investment in Robo Investment Firm Wealthify

On Thursday, British multi-national insurance company Aviva announced it has made an agreement to acquire a majority shareholding stake in robo investment company Wealthify. According to Aviva, the investment is part of its strategy to build customer loyalty by providing customers with a wide range… Read More

Florida-Based Insurtech Ensurem Receives $12.25 Million Investment From A-CAP

Earlier this week, online insurance marketplace Ensurem announced it secured a $12.25 million investment from A-CAP, a New York City-based insurance holding company specializing in life and health insurance and related services. According to Ensurem, the funding from A-CAP comes just after the company’s successful angel… Read More

British Insurtech Startup PremFina Secures £27 Million in Equity & Debt Financing

PremFina Ltd, a UK-based company that increases access to insurance by providing financing options for the purchase of insurance premiums, announced on Wednesday it secured £27 Million ($36 million) in equity funding and a debt facility. According to the company, Rakuten Capital, the investment arm of… Read More

New & Improved: Haven Life Updates Insurance Buying Experience

The two-year-old Haven Life, an online insurance platform has launched an improved buying experience that is said to prioritize the delivery of real rates over quotes and features a friendlier application process and fewer laborious questions. Haven Life, a life insurance startup that’s backed and wholly… Read More

Insurtech Startup Pie Insurance Gets $4.3 Million Seed Funding

Pie Insurance, a direct distribution workers’ compensation Insurtech business, has launched today at InsureTech Connect. Pie Insurance said it had closed on a $4.3 million seed round led by Sirius Group, Moxley holdings and Elefund. Sirius Group, is a global specialty insurer and reinsurer with… Read More

Plug and Play Announces Winter 2017 Batches

California-based global innovation platform Plug and Play announced last week its Winter 2017 Batches. The platform reported that it will run five programs this quarter focused on Health & Wellness, Insurtech, Internet of Things, Mobility, and Travel & Hospitality. According to Plug and Play, the selection process engages… Read More

Cloud Software Company Vlocity launches Virtual Agent “Vella”

Cloud software company Vlocity, Inc. announced on Tuesday the launch of its new consumer-friendly mobile application, Vella. According to the company, Vella enables insurance carriers to offer a personalized and modern way for their customers to handle their insurance needs.  While sharing more details about the… Read More

Lemonade CEO & Cofounder Daniel Schreiber Squeezes in Some Time for a Few Questions

In celebration of its first anniversary, Insurtech platform Lemonade launched a freshly squeezed product, Zero Deductible. Zero Deductible offers new and existing Lemonade members a ‘zero deductible’ upgrade, so that customers may make up to two claims each year with neither deductible payments nor rate hikes. Powered by AI… Read More

Making Lemonade Even Sweeter: Zero Deductible Launched on First Anniversary

Lemonade, the insurance company powered by artificial intelligence and behavioral economics, has launched a new product called Zero Deductible which offers new and existing Lemonade members a ‘zero deductible’ upgrade, so they can make up to two claims each year with no deductible payments, and no rate hikes. The launch… Read More