Insurtech

June 16, 2024 @ 6:23 am By Omar Faridi  |  

With U.S. auto insurance rates up 11.2% on average during the past year—and insurers still losing an average of five cents “on every dollar of premium they collect—sky-high premiums do not appear to be leveling off anytime soon.” According to the J.D. Power 2024 U.S…. Read More

June 12, 2024 @ 8:23 pm By Omar Faridi  |  

Kin Insurance, Inc. announced that the Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, the reciprocal exchanges it manages, have completed their reinsurance programs for “the period of June 1, 2024 through May 31, 2025, at favorable economic terms.” Kin’s reinsurance program maintains Kin’s history… Read More

June 12, 2024 @ 6:04 pm By Omar Faridi  |  

Nubank (NYSE: NU), which claims to be one of the world’s largest digital banking platforms outside of Asia, and Chubb, a global enabler of insurance, announced that they have reached a significant milestone of 2 million active insurance policies in Brazil. Contributing to the success… Read More

June 7, 2024 @ 1:26 pm By Omar Faridi  |  

NEXT Insurance, a digital insurer transforming small business insurance, announced the availability of its Business Owner’s Policy (BOP), a comprehensive insurance solution designed with the specific needs of small businesses in mind. Building upon NEXT’s AI-powered, proprietary platform and underwriting expertise, NEXT’s BOP offering “enables… Read More

June 3, 2024 @ 11:11 am By JD Alois  |  

Insurtech Cover Whale Insurance Solutions, Inc. has hired Rachael Dugan as its first General Counsel & Corporate Secretary. The company states that Dugan will lead all legal, compliance, corporate governance and regulatory affairs matters for the company and report directly to CEO Dan Abrahamsen. She… Read More

June 1, 2024 @ 10:42 am By Omar Faridi  |  

bolt, the insurtech with the country’s largest technology-enabled insurance exchange, today announced the appointment of Jeff Staley as Head of Sales. Staley will be responsible for leading bolt’s sales efforts “across its core business segments and meeting the company’s growth targets.” Staley brings more than… Read More

May 30, 2024 @ 5:44 pm By Omar Faridi  |  

International insurtech bolttech has announced its partnership with HAVA.id, a B2B procurement company in Indonesia. HAVA.id will offer comprehensive device protection solutions “to its business customers as part of its procurement consultancy services to ensure their valuable inventory of technology devices is safeguarded.” As part… Read More

May 19, 2024 @ 5:28 pm By Omar Faridi  |  

Earnix, the global provider of AI-based SaaS pricing and rating solutions for financial services, and Exavalu, a global insurance digital advisory and system integration consulting firm, announced a partnership “to provide leading property and casualty insurance carriers with improved operational and analytical flexibility to accelerate… Read More

May 15, 2024 @ 6:04 pm By JD Alois  |  

According to a corporate statement, Insurtech Cover Genius has raised a $80 million Series E funding round. Spark Capital led the round, which was supported by existing investors Dawn Capital, King River Capital, and G Squared. Cover Genius said that it has experienced 107% year-over-year… Read More

May 15, 2024 @ 8:58 am By Omar Faridi  |  

bunq, which claims to be one of the largest neobanks in Europe, has taken a significant step forward to upgrade its user-facing AI assistant, Finn, to be fully conversational. The challenger has also “rolled out its worldwide one-time activation travel insurance, in partnership with Qover,… Read More

May 12, 2024 @ 7:10 pm By Omar Faridi  |  

Global insurtech funding falls to its lowest quarterly level since 2018, according to a report from CBInsights. Despite growth in broader venture funding in Q1’24, insurtech (insurance technology) funding declined 18% quarter-over-quarter (QoQ) to hit its lowest level in years ($0.9B), the CBInsights report reveals…. Read More

April 30, 2024 @ 7:38 pm By Omar Faridi  |  

Gig workers in Malaysia constitute over a quarter of the country’s workforce, with nearly two million of them being women, accounting for 46% of all gig workers. Acknowledging the gig workers’ contributions this Labor Day, PolicyStreet is partnering with Kiddocare, a Khazanah-backed on-demand care services… Read More

April 28, 2024 @ 9:54 am By Omar Faridi  |  

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), introduces Prime Tech with Cowbell Co-Pilot, Cowbell’s artificial intelligence (AI) solution for efficient underwriting. Prime Tech is Cowbell’s adaptive cyber insurance offering “that combines flagship Prime 250 cyber risk insurance with Technology Errors… Read More

April 24, 2024 @ 9:27 am By JD Alois  |  

PeppercornAI has raised £3.25 million in a funding round aided by the participation of Wealth Club, which invested £1.9 million in the Insurtech firm. The funding included high-net-worth investors and existing investors EHE Capital and Angels Invest Wales. Wealth Club offers sophisticated investors investment opportunities typically… Read More

April 23, 2024 @ 11:25 am By Omar Faridi  |  

In conjunction with Earth Day, PolicyStreet, a regional insurtech company, collaborates with ERTH, a social enterprise dedicated to the collection and recycling of e-waste, to insure the ERTH Heroes while on the job. The ERTH Heroes, who are gig workers, will “receive complimentary on-the-job personal… Read More

April 22, 2024 @ 2:27 pm By Omar Faridi  |  

The (re)insurance industry should brace itself for potential attacks on the public sector targeting government and election infrastructure, warns CyberCube, the market enabler of cyber risk analytics for the insurance industry. In a new research report, CyberCube warns government agencies and officials “must increase their… Read More

April 20, 2024 @ 11:21 am By Omar Faridi  |  

Mulberri, an AI-driven insurance platform, announced it has partnered with Acronis, a global leader in cyber protection, to embed Mulberri’s Cyber Insurance to Acronis small & medium-sized businesses customers based in the US. Through this partnership, Acronis customers can “opt-in for Mulberri’s embedded Cyber Insurance… Read More

April 18, 2024 @ 12:54 pm By Omar Faridi  |  

Percipience, an insurtech data and analytics software provider, is pleased to announce an implementation of Data Magnifier was delivered successfully by a small, blended team of Ascot Group Limited and Percipience resources on-time and under budget. Ascot is one of the specialty risk assumption organizations…. Read More

April 17, 2024 @ 11:18 am By Omar Faridi  |  

Aon plc (NYSE: AON), a global professional services firm, announced the successful completion of an innovative pilot for placing insurance using blockchain and smart contract technology. The pilot was conducted with Nayms SAC Ltd., “a crypto-compatible insurance marketplace, and Copper.co, a digital assets custodian.” Benefits… Read More

April 15, 2024 @ 7:35 am By Omar Faridi  |  

bolt, the insurtech with the country’s largest technology-enabled insurance exchange, announced the appointment of Matt More as CFO for North America. More joins from ThoughtSpot, a leader in enterprise business intelligence SaaS, “where he was VP of Finance and Strategy.” In this role, he built… Read More