Insurtech

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

July 31, 2023 @ 4:44 pm By Omar Faridi  |  

Insurtech firm bolttech says it is pleased to share that the international insurance technology company has appointed Stuart Watson as its Director, Insurance Exchange, Asia. In his new role, Stuart will “lead business development for bolttech’s embedded insurance and marketplace propositions in the region, working… Read More

July 31, 2023 @ 8:49 am By Omar Faridi  |  

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs),  announced that it has joined the Amazon Web Services (AWS) Cyber Insurance Partner Initiative. Participation in this initiative demonstrates that Cowbell “has deep expertise in serving SME customers with cyber insurance coverage tailored… Read More

July 27, 2023 @ 4:28 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) announced that insurance policy owners will soon have online options to nominate their beneficiaries. Amendments have been “made to the Insurance (Nomination of Beneficiaries) Regulations 2009, to enable insurers to provide these options from 2 January 2024.” The process… Read More

July 26, 2023 @ 8:46 pm By Omar Faridi  |  

Embroker, the digital platform making it radically simple to get business insurance, today announced strategic partnerships with Dashlane, a security-first password management provider, and Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs). With these, Embroker increases customer security through Dashlane’s… Read More

July 22, 2023 @ 7:26 pm By Omar Faridi  |  

⁠Tractable, which claims to be a leader in artificial intelligence (AI) using computer vision to assess the condition of cars and homes, announces a $65M Series E investment led by SoftBank Vision Fund 2. Existing investors in the investment round include Insight Partners and Georgian… Read More

July 22, 2023 @ 5:50 pm By Omar Faridi  |  

Snapsheet, which claims to be an industry leader specializing in claims management technology, today announced a strategic investment from State Farm Ventures. Through its innovative platform, Snapsheet streamlines and “expedites the claims process, providing insurers and policyholders with a seamless, user-friendly experience.” Snapsheet offers “a… Read More

July 20, 2023 @ 11:09 am By JD Alois  |  

Rnwl, an Insurtech that claims to be building the insurance platform of the future, has closed its most recent funding round on Seedrs. Initially targeting a raise of £150,000, Rnwl closed at almost double that amount raising £295,754 from 394 individual investors. Rnwl raised equity… Read More

July 18, 2023 @ 4:07 pm By JD Alois  |  

Evertas has acquired Bitsure, according to a company statement. Evertas is a digital asset insurance provider. Bitsure provides insurance for crypto miners. Both companies clame to be the first of their kind in the Insurtech sector. Evertas reports that today, Bitsure policies insure about 6%… Read More

July 17, 2023 @ 4:46 pm By Omar Faridi  |  

Slide Insurance, the full-stack insurtech focused on providing affordable, effective homeowners coverage, announced it has finalized pricing for its latest catastrophe (cat) bond, closing the $100 million Purple Re Ltd. (Series 2023-2). This is the second cat bond sponsored by Slide this year, “following the… Read More

July 16, 2023 @ 12:39 pm By Omar Faridi  |  

ZestyAI, the provider of climate and property risk analytics solutions powered by artificial intelligence (AI), announced an agreement with Coterie Insurance, a partnership-focused Managing General Agent (MGA), leveraging data and technology to provide instant quoting and issuing of small business insurance policies. Coterie will use… Read More

July 16, 2023 @ 11:52 am By Omar Faridi  |  

Socotra, the modern core platform provider for innovative insurers, announced that Steadily, America’s landlord insurance solution, has adopted the Socotra Connected Core policy administration system. The collaboration has allowed Steadily to enhance its systems and deliver an exceptional user experience to its customers. One of… Read More

July 15, 2023 @ 6:53 pm By Omar Faridi  |  

Kin, the direct-to-consumer home insurance company built for every new normal, today announced its expansion into Arizona. The Grand Canyon State marks Kin’s first move “into the U.S. Southwest, and it builds upon Kin’s growth and success in coastal, catastrophe-prone states like Florida, Louisiana, South… Read More

July 15, 2023 @ 10:43 am By Omar Faridi  |  

NEXT Insurance, a digital Insurtech transforming small business insurance, announced its integration with Ivans Download for General Liability and Workers’ Compensation policies. This feature reportedly “offers a seamless exchange of policy data between NEXT and its appointed agents, furthering the company’s commitment to facilitating an… Read More

July 11, 2023 @ 9:12 pm By Omar Faridi  |  

AXA Hong Kong and Macau (AXA) announced its collaboration with CoverGo, the global no-code insurance SaaS core platform for health, life, and P&C, “to improve AXA’s general insurance ecosystem in Hong Kong.” With the advanced technology supported by CoverGo, AXA will “use the insurtech’s platform… Read More

July 9, 2023 @ 7:17 am By Omar Faridi  |  

Qover, an insurtech specialising in embedded insurance orchestration, has successfully closed a $30 million Series C up-round funding. The investment will fuel “the company’s growth trajectory, empower it to continue orchestrating innovative solutions, launch even more successful partnerships and propel it closer to achieving profitability… Read More