Insurtech

May 24, 2023 @ 11:53 am By Omar Faridi  |  

Mulberri, an AI-driven embedded insurance platform, today announced the launch of its Risk Engine, a first of its kind risk assessment offering “for workers compensation underwriters.” The Risk Engine, which is already being “deployed by customers like Paychex’s PEO department, uses machine learning models to… Read More

May 22, 2023 @ 9:59 pm By Omar Faridi  |  

On Thursday, May 18, 2023, Insurtech Pie CEO, John Swigart, shared an important message with all “Pie-oneers.” Swigart noted that as Dax and him shared with the team earlier, during their all-hands meeting, they’ve made “the very hard decision to reduce their headcount by about… Read More

May 20, 2023 @ 12:59 pm By Omar Faridi  |  

Kin, the direct-to-consumer home insurance company built for every new normal, today announced select operating results through the first quarter ended March 31, 2023. Kin finished the first quarter of 2023 “with $83.2 million in gross written premium, which was positively impacted by $33.5 million… Read More

May 18, 2023 @ 4:38 pm By Omar Faridi  |  

Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs),  announced Andrea Collins’ appointment as its first Chief Marketing Officer. Collins brings “over two decades of strategic and creative marketing and communications expertise, building and overseeing iconic brands.” She will report “to founder… Read More

May 18, 2023 @ 11:26 am By Omar Faridi  |  

Socotra, Inc. announced availability of their insurance policy core platform Connected Core in AWS Marketplace. This move will make it easier for insurers “to adopt the platform, resulting in faster implementation times and improved efficiencies.” AWS Marketplace is “a digital catalog with thousands of software… Read More

May 18, 2023 @ 9:27 am By Omar Faridi  |  

bolttech announced it raised $196 million in connection with its Series B with an up-round valuation of $1.6 billion. The investment round was “led by Tokio Marine – Japan’s first insurance company with a 140-year history.” Other key investors “include global life insurance giant MetLife… Read More

May 17, 2023 @ 9:32 am By JD Alois  |  

wefox, a Germany-based Insurtech, has raised $110 million in Series D funding along with a $55 million revolving credit facility from Barclays and JP Morgan. The equity capital was raised at a valuation of $4.5 billion. wefox described the funding as buttressing its business model… Read More

May 13, 2023 @ 4:27 pm By Omar Faridi  |  

Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs), today released its Cyber Round-Up: Q2 2023 report. The report explores insights from small and medium-sized enterprise (SME) leaders “across the U.S., revealing that many SME leaders with cyber insurance feel better prepared… Read More

May 9, 2023 @ 10:05 pm By Omar Faridi  |  

PolicyStreet, an emerging regional insurtech company, has recorded exponential growth in FY22, with its topline growing by five times compared to the previous financial year (FY21) and attaining sum insured of more than USD 6 billion. Despite the challenging business environment in FY22, PolicyStreet claims… Read More

May 9, 2023 @ 7:55 am By Omar Faridi  |  

NEXT Insurance, a digital insurtech company transforming small business insurance, today announced the promotion of Rachel Jrade-Rice to General Counsel. Jrade-Rice joined NEXT Insurance in 2020 “as Insurance Regulatory Counsel and was quickly promoted to Head of Regulatory Affairs and then again to Associate General… Read More

May 7, 2023 @ 11:24 pm By Omar Faridi  |  

wefox, which claims to be one of the world’s leading Insurtechs, has launched its global affinity business, which connects insurance companies with partners to distribute insurance products. This new business “increases the existing distribution channel for wefox and extends the company’s ability to deliver insurance… Read More

May 7, 2023 @ 3:11 pm By Omar Faridi  |  

U.S. specialist insurance brokerage U.S. Risk Insurance Group will license CyberCube’s Broking Manager, the cyber risk analytics platform for insurance intermediaries, “to support its retail agents and insureds in quantifying cyber risk financial exposure.” U.S. Risk Insurance Group, LLC is “a privately owned specialty lines… Read More

May 6, 2023 @ 10:30 am By Omar Faridi  |  

Sutherland, a digital transformation technology and services company, has entered a partnership with Bold Penguin, a digital platform with integrated solutions that simplify commercial insurance. This partnership allows Sutherland and Bold Penguin “to drive digital transformation in customer acquisition, new business, and underwriting for the… Read More

May 4, 2023 @ 3:44 pm By Omar Faridi  |  

Novidea, creator of the born-in-the-cloud, data-driven platform optimizing the entire insurance policy and distribution lifecycle, announced that it has raised $50 Million in Series C funding. The investment round was “led by Battery Ventures with participation from Cross Creek, both new investors, and the company’s… Read More

May 4, 2023 @ 10:33 am By Omar Faridi  |  

Lemonade, Inc. (NYSE: LMND) has released its first quarter 2023 financial results. The Q1 2023 financial results were shared by Lemonade in the Letter to Shareholders and can be accessed via the company’s investor relations section. As covered, Lemonade reportedly “offers renters, homeowners, car, pet,… Read More

May 2, 2023 @ 8:13 am By Omar Faridi  |  

Iress recently announced that Reassured, the UK’s “largest” life insurance broker, has selected The Exchange platform in order “to power both its advised and non-advised protection business.” Iress was “chosen after a thorough selection process based on the potential for a long-term partnership and its… Read More

April 30, 2023 @ 5:28 pm By Omar Faridi  |  

Etherisc, the open-source, “decentralized” insurance protocol and ecosystem, has launched the first-of-its-kind USDC depeg protection cover to the public. As a peer-to-peer parametric product, customers “receive automatic payouts should the price of the USDC stablecoin fall below its $1 USD pegged value by 0.5% for… Read More

April 27, 2023 @ 4:30 pm By Omar Faridi  |  

NEXT Insurance, a digital insurtech company transforming small business insurance, today announced the launch and availability of the Certificate of Insurance (COI) Analyzer – an innovative, new offering “for small business owners to generate free, instant, custom-made COIs to show valid insurance coverage to potential… Read More

April 27, 2023 @ 3:33 pm By Omar Faridi  |  

Majesco, a global player focused on supporting cloud insurance platform software for insurance business transformation, announced a new digital payment offering for Majesco Claims for P&C customers. This new “out-of-the-box” integration with One Inc ClaimsPay reportedly “offers fast and secure digital claims payments through the… Read More

April 26, 2023 @ 12:02 pm By Omar Faridi  |  

Zinnia, a life and annuity insurance technology and digital services company, today announced it is acquiring Policygenius, a digital insurance marketplace. The acquisition “lays the foundation for the industry’s first front-to-back architecture to power the entire insurance value chain and better serve carriers, advisors, and… Read More