Insurtech

December 7, 2023 @ 10:20 pm By Omar Faridi  |  

Millennial Shift Technologies Inc. has announced a strategic collaboration with CyberCube, the cyber risk analytics platform. mShift is a digital platform that allows insurance professionals to “quote, bind and issue multiple lines of business within the small to medium enterprise (SME) cyber liability space. mShift is… Read More

December 1, 2023 @ 4:09 pm By Omar Faridi  |  

Cowbell, a provider of cyber insurance for small- and medium-sized enterprises (SMEs), today announced a collaboration with Microsoft and Ingram Micro Inc. Through this collaboration, Cowbell policyholders “gain access to complimentary Microsoft Exchange migrations to Microsoft 365 Business Premium, empowering SMEs to harness the full… Read More

November 28, 2023 @ 10:16 pm By Omar Faridi  |  

Insurance is the biggest expense for gig companies, according to a recent update. Uber says its insurance costs “are roughly 10% of its gross bookings, exceeding $11B in 2022. Insurance-related costs are also rising every year.” In 2022, a top 10 auto insurer reportedly “increased… Read More

November 27, 2023 @ 1:54 pm By Omar Faridi  |  

hyperexponential and Akur8 announce a new partnership that will integrate their complementary pricing decision intelligence capabilities to offer insurers an automated, data-driven system for accurately pricing commercial and specialty insurance products. The partnership enables insurers to “integrate rating factors calibrated in Akur8 into pricing models… Read More

November 22, 2023 @ 5:42 pm By Omar Faridi  |  

LOTTE HIMART, one of the largest electronic goods retailers in South Korea, has partnered with international insurtech bolttech in order “to launch the country’s first-ever home appliance switching service.” Powered by bolttech’s embedded insurance technology, the service will “enable LOTTE HIMART customers to easily replace… Read More

November 22, 2023 @ 4:43 pm By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, announced it has named two new members to its Board of Directors, Deb Schwartz and Dr. Samer Haj-Yehia, “effective immediately.” The newly named Directors will “succeed departing Directors Irina Novoselsky and Silvija… Read More

November 21, 2023 @ 9:17 am By Omar Faridi  |  

Akur8 released a new research paper for the actuarial community entitled “Derivative Lasso: Credibility-Based Signal Fitting for GLMs.” Developed by a team of actuarial scientists at Akur8, including Mattia Casotto, Head of Product for the U.S. and Principal Scientist, and Thomas Holmes, Chief Actuary for… Read More

November 20, 2023 @ 8:29 am By Omar Faridi  |  

wefox, the European insurtech, has appointed Paul Onnen as Chief Technology Officer, with immediate effect. Mr. Onnen takes over the role from Sergi Banos who “was promoted to Chief Platform Officer (CPO) as the company accelerates its plans to launch the platform that will connect… Read More

November 14, 2023 @ 6:38 pm By Omar Faridi  |  

Kin, the direct-to-consumer home insurance company built for every new normal, announced operating results through the third quarter “ended September 30, 2023.” Kin finished the third quarter of 2023 “with $77.8 million in gross written premium and $24.2 million in total revenue.” Kin’s operating income… Read More

November 10, 2023 @ 11:23 am By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the welcoming of its two millionth customer. The pace to achieve the second million customers “was 35% faster than the first million, which was achieved in late 2020, while premium… Read More

November 9, 2023 @ 10:43 pm By Omar Faridi  |  

The Travelers Companies, Inc. (NYSE: TRV) announced that it has agreed to acquire Corvus Insurance Holdings, Inc. for approximately $435 million. Founded in 2017, Corvus is an industry-leading cyber insurance managing general underwriter, “powered by proprietary technology.” Alan Schnitzer, Chairman and Chief Executive Officer of… Read More

November 9, 2023 @ 6:23 am By Omar Faridi  |  

International insurtech bolttech announced a preferred partnership with French entrepreneur Xavier Niel’s NJJ telecom Group (NJJ) in order “to provide device insurance for European mobile operators under its portfolio.” Both Salt and Monaco Telecom are dedicated “to providing their customers with sustainable and safe device… Read More

November 8, 2023 @ 12:16 pm By Omar Faridi  |  

Coterie Insurance, the partnership-focused insurtech MGA simplifying small business insurance, announced a new partnership with Five Sigma, a claims management platform designed to streamline claims handling. The two companies are committed to “delivering innovation to simplify the insurance process across the value chain.” Morgan Smith,… Read More

November 6, 2023 @ 9:52 am By Omar Faridi  |  

CyberCube, the market participant focused on cyber risk analytics, announced that Toa Re has licensed its Portfolio Manager platform in order “to support its cyber book and to achieve best practice risk management solutions.” Toa Re Europe is “a Swiss-licensed reinsurance company established in 2002… Read More

November 6, 2023 @ 9:13 am By Omar Faridi  |  

Digital bank Monzo has appointed Phoebe Chibuzo Hugh, the founder of digital insurance firm Brolly, in order to help the challenger bank with entering the insurance services sector. Hugh reportedly launched insurtech Brolly back in 2016 following a couple rounds of the incubator program Entrepreneur… Read More

November 5, 2023 @ 7:12 pm By Omar Faridi  |  

Global compliance technology solutions and services provider Sovos announced a partnership with EXL, a data analytics and digital operations and solutions company. This partnership combines Sovos‘ record of accomplishment “in delivering innovative tax software and compliance solutions with EXL’s expertise in consulting and servicing for… Read More

November 5, 2023 @ 4:45 pm By Omar Faridi  |  

Layr, an insurance tech company, closed a $10 million round of financing led by Cota Capital. The K Fund, HSCM Ventures, Sandbox Industries, and Flyover Capitalalso participated in the round. The company will use the funds from the investment round “to expand go-to-market operations and… Read More

November 5, 2023 @ 11:33 am By Omar Faridi  |  

Insurance core technology provider Socotra announced today that it is stepping into its role as a title sponsor of InsureTech Connect 2023 in Las Vegas “on the heels of growth of its operations.” The producer of intelligent solutions for the P&C, general, and life insurance… Read More

November 2, 2023 @ 12:03 pm By Omar Faridi  |  

wefox, the Berlin-based insurtech, is launching a new brand claim: “wefox Empowering Insurance”. The new brand claim defines the company’s unique position “as more than just an insurance company.” It paves the way for wefox to also “provide a wide range of tech-enabled insurance solutions.”… Read More

November 2, 2023 @ 11:45 am By Omar Faridi  |  

Carriers are prioritizing profitability, especially when it comes to fostering innovation, according to Insurance Operations in a Changing Industry, a study published today by Earnix, the global provider of intelligent, SaaS solutions for insurers and banks. The survey of 400 insurance executives “provides insight into… Read More