Insurtech

January 20, 2024 @ 9:36 pm By Michael Wong  |  

Bharatsure, an emerging Insurtech startup based in India, has reportedly raised $1 million in a funding round anchored by early-stage venture capital fund Capital-A. The round also saw contributions from Grip Invest and a cohort of existing investors, including Inflection Point Ventures, Dexter Ventures, HEM… Read More

January 19, 2024 @ 2:10 pm By Omar Faridi  |  

CoverForce, which claims to be the first independent API to deliver instant quotes and one-click binding from the insurance carriers, announced the addition of cyber insurance to its API toolkit. According to S&P Global, cyber is one of “the fastest-growing subsector of the insurance market… Read More

January 19, 2024 @ 8:34 am By Omar Faridi  |  

Getsafe, Europe’s neo-insurer based in Germany with over 550,000 customers, has acquired deineStudienfinanzierung, Germany’s digital platform for student loans. This acquisition is said to be a testament to Getsafe’s direct-to-consumer approach and the company’s focus on “guiding young people as they plan for their futures.”… Read More

January 16, 2024 @ 3:59 pm By Omar Faridi  |  

Akur8, the insurance pricing solution powered by transparent machine learning, is pleased to announce its new partnership with Quincy Mutual Group, one of the oldest and “respected” regional mutual insurance companies in the United States, “offering a wide range of insurance products to protect the… Read More

January 13, 2024 @ 4:30 pm By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the extension and expansion of its financing relationship with General Catalyst (GC) – AKA ‘Synthetic Agents’ – whereby GC “finances up to 80% of Lemonade’s spending specifically related to customer… Read More

January 13, 2024 @ 4:26 pm By Omar Faridi  |  

hyperexponential, the global firm focused on pricing decision intelligence (PDI) software, announced completion of its $73m Series B funding round reportedly “led by global technology-focused investment firm Battery Ventures, with participation from leading Silicon Valley investor a16z, and existing Series A investor Highland Europe, which… Read More

January 10, 2024 @ 3:29 pm By Omar Faridi  |  

Cyber insurance provider Cowbell announced its cyber insurance solutions are extending their reach beyond small and medium-sized enterprises (SMEs), now catering for mid-market businesses with an annual turnover of up to £1 billion. Backed by A+ rated (re)insurers, US-based Cowbell officially “entered the UK market… Read More

January 9, 2024 @ 11:16 pm By Omar Faridi  |  

PolicyStreet, a regional insurtech company, secured approval from the Labuan Financial Services Authority (LFSA) to commence its Takaful and Retakaful operations. This accreditation positions PolicyStreet among “the select group of approved Takaful and Retakaful operators in Malaysia, granting the insurtech company the capability to reinsure… Read More

January 2, 2024 @ 12:17 pm By Omar Faridi  |  

NEXT Insurance’s CEO has shares his 2024 predictions with CI. In a detailed note, the firm has commented on key 2024 industry predictions, which are attributed to NEXT Insurance’s Guy Goldstein. Guy’s insights aim to reflect on the major developments and trends in the insurance… Read More

December 26, 2023 @ 10:59 am By Omar Faridi  |  

CoverForce, the “independent “API delivering instant quote and one-click bind from the leading insurance carriers, announced a partnership with agency management system, NowCerts. Through this partnership, NowCerts has “launched an instant commercial lines quote and bind platform enabled by leveraging CoverForce’s API infrastructure.” Cyrus Karai,… Read More

December 23, 2023 @ 3:36 am By Omar Faridi  |  

Traditional reinsurance companies will start offering meaningful cyber capacity in 2024 as cyber insurance is “one of the fastest growing lines of insurance to emerge in a generation,” according to the CEO of cyber risk analytics specialist, CyberCube. In a series of predictions from CyberCube… Read More

December 22, 2023 @ 4:11 am By Michael Wong  |  

Sumitomo Life Insurance Company (Sumitomo Life) has agreed to acquire all shares of Singapore digital insurer Singlife held by TPG, which currently owns about 35% of the insurtech firm. Furthering its investment, Sumitomo Life plans to extend offers to purchase shares from the remaining shareholders… Read More

December 19, 2023 @ 5:02 pm By Omar Faridi  |  

Lydia, a mobile banking application, has partnered with insurtech Qover to introduce a seamless travel insurance experience. This offering is exclusively available “to Lydia’s premium cardholders, known as Black+ users, in Belgium, France, Portugal and Spain.” Qover’s embedded insurance orchestration platform is at the heart… Read More

December 18, 2023 @ 11:31 pm By Omar Faridi  |  

CyberCube, the insurance industry’s cyber analytics company, has launched Version 5.0 (v5) of Account Manager, the software-as-a-service (SaaS) solution designed explicitly for underwriters. Account Manager v5 reportedly “extends the capabilities of Portfolio Manager, CyberCube’s portfolio modeling product.” For clients that license both solutions, this gives… Read More

December 18, 2023 @ 3:46 pm By Omar Faridi  |  

The Green Insurer, a car insurance provider committed to reducing drivers’ impact on the environment, launched a new car insurance product “that rewards customers for driving responsibly.” The Green Insurer calculates “a driver’s carbon footprint by analysing driving data and fusing it with information about… Read More

December 18, 2023 @ 9:28 am By Omar Faridi  |  

Prima Seguros, an Insurtech that acts as an insurance agency specialized in the automotive sector, aims to “reach 100,000 active clients in 2024, more than doubling its premiums to 20 million euros.” This update comes after a successful first year of operations in the country,… Read More

December 16, 2023 @ 12:22 pm By Michael Wong  |  

OneDegree, a Hong Kong-based insurer specializing in digital assets, has formed a strategic alliance with Dubai Insurance Company to introduce digital asset insurance in the United Arab Emirates (UAE). This partnership includes Dubai Insurance’s investment in OneDegree’s Series B funding round. The collaboration aims to… Read More

December 14, 2023 @ 9:16 pm By Omar Faridi  |  

In Q3 2023, $1.7 billion was invested across 115 deals, “representing an increase of 53.0% in deal value but roughly flat in terms of deal count, QoQ,” according to the latest Insurtech industry report from Pitchbook. The deal value was “the highest amount over the… Read More

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