Insurtech

September 16, 2023 @ 10:15 am By Michael Wong  |  

Hong Kong-based virtual insurer Bowtie has successfully wrapped up a $34.9 million Series B2 funding round, the company has confirmed. The latest financial injection was led by Sun Life Hong Kong Limited, and saw significant contributions from Mitsui & Co., Ltd. Bowtie’s announcement highlighted that… Read More

September 15, 2023 @ 8:23 am By Omar Faridi  |  

Kin, the direct-to-consumer home insurance company built for every new normal, today announced the closing of a $33 million Series D extension. The funding was led by QED Investors “with participation from returning investors Geodesic Capital, Allegis Capital, Hudson Structured Capital Management Ltd. (doing its… Read More

September 14, 2023 @ 10:08 am By Michael Wong  |  

In a strategic move aimed at streamlining its operations and capitalizing on growth opportunities, British insurer Aviva plc has unveiled plans to sell its 25.9% stake in Singapore Life Holdings Pte Ltd, commonly known as Singlife, along with two debt instruments, to Sumitomo Life Insurance… Read More

September 12, 2023 @ 9:44 pm By Omar Faridi  |  

Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs), today announced a new integration with Cloudflare, the security, performance, and reliability company helping to build a better Internet. With this integration, Cowbell has “added security insights from Cloudflare to its risk rating… Read More

September 11, 2023 @ 10:02 pm By Omar Faridi  |  

Globe, the telecommunications service provider and digital solutions platform in the Philippines, has partnered with international insurtech bolttech in order “to launch Gadget Xchange, a new mobile device program that will make postpaid device switching easier, no questions asked.” The innovative program reportedly “offers greater… Read More

September 7, 2023 @ 7:55 am By Omar Faridi  |  

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has announced plans to further expand its footprint in the UK market “with a new senior appointment and launch of its AI-powered cyber insurance program.” With more than half (54%) of SMEs in… Read More

September 6, 2023 @ 7:26 am By Omar Faridi  |  

Qover, which claims to be a leader in embedded insurance orchestration, announces the successful granting of a Financial Conduct Authority (FCA) full authorization. Following seven years of active operations in the UK market, this achievement ensures Qover’s continued growth “across the continent post-Brexit and underscores… Read More

September 5, 2023 @ 11:46 am By Omar Faridi  |  

Quantiphi, an Al-first digital engineering company, announced the launch of its AI-led Intelligent Underwriting Platform (AiUP), which will be “included in Google Cloud’s Industry Value Network (IVN) solutions and combines the power of Dociphi, Quantiphi’s intelligent document processing platform,” Unqork‘s codeless platform and Google Cloud’s… Read More

September 2, 2023 @ 6:22 am By Omar Faridi  |  

Cytora, the digital risk processing platform, is pleased to announce an integration with CAPE Analytics, a provider of AI-powered geospatial property data. CAPE Analytics’ commercial property data APIs will be “accessible on the Cytora platform, enhancing insurers’ capabilities to assess and manage risks associated with… Read More

August 26, 2023 @ 9:40 pm By Omar Faridi  |  

Socotra, the provider of modern, cloud-based technology for insurers worldwide, announced today that Sonny Patel has joined the company in the role of Chief Product and Technology Officer. She will be responsible for “leading the company’s Product and Engineering teams alongside Product Architect Matt Hamilton,… Read More

August 26, 2023 @ 8:46 pm By Michael Wong  |  

American Fintech SaaS company Irys Insurtech Inc has announced raising $3.5 million in a Seed funding round anchored by Markd, a venture capital investor focused on Insurtech innovations. The funding round, which also saw participation from insurtech firms such as Brokertech Ventures, Revtech Labs, Cofounders… Read More

August 23, 2023 @ 1:31 pm By Omar Faridi  |  

Pie Insurance, a tech-enabled provider of workers’ compensation insurance to small businesses, announced it appointed four industry experts to its leadership team. Carla Woodard was promoted “to vice president of claims, Jaime Gilliam-Swartz was appointed to vice president of customer service and operations, Arash Sadati… Read More

August 14, 2023 @ 8:49 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) licensed “Loan” to provide consumer microfinance solutions through financial technology. With Loan, there are now six authorized companies “offering consumer microfinance solutions in Saudi Arabia.” This decision reflects SAMA‘s endeavor “to support the finance sector, increase efficiency of financial transactions,… Read More

August 14, 2023 @ 11:59 am By Omar Faridi  |  

Kin, the direct-to-consumer home insurance company built for every new normal, recently announced select operating results through the second quarter ended June 30, 2023. Kin finished the second quarter of 2023 “with $109.7 million in gross written premium, bringing the year-to-date total to $192.9 million.”… Read More

August 14, 2023 @ 9:03 am By Omar Faridi  |  

Nubank (NYSE:NU), which claims to be one of the world’s largest digital financial services platforms, launched Nubank Lar Seguro, a home insurance offering, in partnership with Chubb, the world’s largest publicly traded property and casualty insurer. Nubank Lar Seguro will become “available to eligible customers… Read More

August 8, 2023 @ 8:38 am By Omar Faridi  |  

NEXT Insurance, a digital small business insurer, today announced it is expanding its insurance offerings for small businesses with the launch of commercial umbrella/excess liability in 41 states, and the expansion of liquor liability coverage in 7 additional states. Commercial excess/umbrella insurance “includes the same… Read More

August 6, 2023 @ 2:31 pm By Omar Faridi  |  

Lemonade, Inc. (NYSE: LMND) has released its second quarter 2023 financial results on August 2, 2023. In their Shareholder Letter, Insurance tech firm Lemonade notes that 2023’s second quarter “delivered better than expected top and bottom lines, as well as reinsurance and growth financing programs… Read More

August 4, 2023 @ 11:44 am By JD Alois  |  

Insurtech Functional Finance has raised $8 million in a seed round plus a SAFE of $2 million. A SAFE is typically a commitment for equity at a discount on a future date following an outlined event. The funding was led by New Enterprise Associates (NEA),… Read More

August 3, 2023 @ 11:48 am By Omar Faridi  |  

Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker is expanding its partnership with cyber risk analytics firm CyberCube by licensing CyberCube’s Industry Exposure Databases. CyberCube’s Industry Exposure Databases were “launched in October 2022 to enable (re)insurers and brokers to… Read More

August 1, 2023 @ 7:19 am By Omar Faridi  |  

CAPE Analytics, which claims to be the leader in AI-powered geospatial property intelligence, is pleased to announce its partnership with Intermap Technologies, a global firm focused on 3D geospatial products and intelligence solutions via its powerful suite of software applications. CAPE says that it will… Read More