Insurtech

Jetty Names Farmers Insurance the Exclusive Reinsurance Provider For All New Jetty Policies

Jetty, a U.S.-based fintech on a mission to make renting a home more affordable and effortless for everyone, announced on Wednesday it has named Farmers Insurance the exclusive reinsurance to provide for all new Jetty policies. Launched in 2017, Jetty describes itself as a new financial… Read More

U.S. Insurtech Breeze Joins Forces With Assurity Life to Launch Online Disability Insurance to Consumers During COVID-19 Pandemic

Breeze announced on Tuesday it has teamed up with Assurity Life to launch an API-driven disability insurance product with a digital application and underwriting process. Through the new service, individuals may request a personalized disability insurance quote and complete a secure application process online in 10-15… Read More

U.S. Financial Service Buckle Acquires Gateway Insurance Company

Buckle, a U.S.-based financial services group, announced on Wednesday it has Gateway Insurance Company (Gateway), including its 47 state insurance licenses. According to Buckle, Gateway was formerly an indirect subsidiary of Atlas Financial Holdings, Inc. (Atlas), which provides auto insurance to the light commercial automobiles market… Read More

Mexican Fintech Zenda.la Introduces New Insurance Package for Millennials, Gen Z Freelancers, Acquires Investment from Angel Ventures, Others

Companies from the insurance sector continue to develop products and services for tech-savvy younger clients including millennials and Generation Z consumers. Mexican Fintech firm Zenda.la has introduced an insurance product with pricing that adjusts to each individual consumers’ specific requirements and financial status. Zenda recently… Read More

U.S. Insurtech Plank Secures $16 Million Through Series B Funding Round

Planck, a U.S.-based AI data platform for commercial insurance, announced on Wednesday it raised $16 million through its Series B Funding Round. With its $12 million Series A, the company has raised a total of $28 million. Founded in 2016, Planck claims to be the… Read More

Policygenius Forms New Partnership With Brighthouse Financial to Offer Exclusive Accelerated Underwriting Life Insurance Product

Policygenius, a U.S.-based online insurance marketplace, announced on Tuesday it has formed a partnership with annuity and life insurance provider Brighthouse Financial to offer an exclusive accelerated underwriting life insurance product, Brighthouse SimplySelect. According to Policygenius, the insurance product features an accelerated purchase process that… Read More

Chilean Insurtech Jooycar Raises $700,000 Through HCS Capital For U.S. Expansion Plans

Jooycar, a Chilean insurtech that is seeking to disrupt the auto insurance and telematics space in Latin America, has reportedly secured $700,000 through HCS Capital as it plans to continue expansion to the U.S. efforts. The company announced its U.S. expansion plans back in December… Read More

Insurtech Lemonade Files for Initial Public Offering on NYSE

Lemonade, one of the most prominent Insurtechs in the US, has filed an S-1 for an initial public offering (IPO) on the New York Stock Exchange (NYSE). Co-founded by CEO Daniel Schreiber and Shai Wininger, Lemonade seeks to disrupt the traditional insurance market with consumer-friendly… Read More

Tencent WeSure CEO Observes: COVID-19 Spurs Insurance Demands in China

 Alan Lau, CEO of Tencent’s insurance platform WeSure, recently announced that research has revealed the COVID-19 pandemic unexpectedly raised the sense of urgency in insurance purchase in China. Lau notably referred to the latest research Tencent WeSure conducted in partnership with Shanghai-based Fudan University, which showed a string… Read More

U.S. Insurtech Hippo Set to Acquire Spinnaker Insurance

Insurtech startup Hippo Insurance announced on Wednesday it is set to acquire Spinnaker Insurance Company, a national property and casualty insurer. Hippo reported it has partnered with Spinnaker as its largest carrier platform since 2017, with Spinnaker-backed Hippo products currently available to consumers in nearly… Read More

Plug and Play Japan Announces 104 Startups For Summer/Fall 2020 Batch

Accelerating program Plug and Play Japan announced on Tuesday it has selected 104 startups in six verticals (IoT, Fintech, Insurtech, Mobility, Brand & Retail, and Hardtech & Health ) together with 38 corporate partners for the Summer/Fall 2020 Batch acceleration program, which will be run… Read More

Pie Insurance Secures $127 Million Through Latest Investment Round

Insurtech startup Pie Insurance announced on Thursday it secured $127 million through its latest investment round. The companies that participated in the funding round are Gallatin Point Capital, Greycroft, SVB Capital, Aspect Ventures, Elefund, and Sirius International Insurance Group, Ltd. As previously reported, Pie describes… Read More

Insurtech Trov Partners With P&C Insurer Seguros Sura Brazil to Bring On-Demand Insurance to Brazil

Trov, a U.S.-based insurtech company, announced earlier this week it has formed a new partnership with Seguros Sura Brazil, a Latin American P&C insurer, to bring on-demand insurance to Brazil.  Trov stated it has been working with Seguros Sura Brazil for the past several months… Read More

UK’s Insurtech By Miles Secures £15 Million in Capital via Round Led by CommerzVentures

UK-based, By Miles, a pay-by-mile automobile insurance service provider, has secured £15 million in funding through a Series B investment round led by CommerzVentures. Existing investors Octopus Ventures, Insurtech Gateway and JamJar investments also took part in By Miles’ latest round. Established in October 2014… Read More

U.S. Insurtech Haven Life Rolls Out 100% No Medical Exam Product & API Solution to Expand Partnership Efforts

U.S. insurtech Haven Life announced on Tuesday it is rolling out a new 100% no medical exam product that can be sold directly through partners. Haven Life reported that banks, advisors, insurance brokers, etc. may now offer the product, Haven Term Simplified, to clients who… Read More

UK Insurtech Zego Expands Partnership With RSA to Launch Flexible Insurance For Fleets of Vans

Zego, a UK-based insurtech, announced on Thursday it has expanded its partnership with insurer RSA to provide flexible insurance for van fleets. The company reported that with the partnership it is able to offer usage-based policies to delivery, courier, and trade van fleets for 20-200… Read More

German Insurtech omni:us Joins Forces With Rokk3r to Enter Latin American Insurance Market

omni:us, an insurance-focused artificial intelligence (AI) solution business based in Germany, announced this week it has joined forces with Rokk3r, a global innovation technology and consulting company, to enter the Latin American insurance market. As previously reported, omni:us is an Artificial Intelligence as a Service (AIaaS) provider… Read More

Fintech Revenues Projected to Increase from $150 Billion in 2018 to $500 Billion in 2030: Report

Revenues from Fintech are expected to increase from $150 billion in 2018 to $500 billion by 2030 at an average annual growth rate that’s about 3x faster than the larger financial industry’s projected revenue growth, according to a recent report from UBS. The report notes… Read More

Insurtech: Snapsheet Partners with Clearcover on Auto Insurance

Snapsheet, a virtual claims management platform, has partnered with Clearcover to power Clearcover’s approach to auto insurance. Snapsheet has digitized the entire claims management process. Clearcover is an insurance provider that claims to offer better coverage for less money. In a release, Brad Weisberg, CEO… Read More

Insurtech: Total Funding for Insurance Technology Firms Dropped 54% in Q1 2020, Compared to Last Year, but Number of Deals Increased

More insurance technology (Insurtech)-related deals were finalized during Q1 2020, when compared with the same time period last year. However, overall funding for Insurtech dropped by 54% to $912 million, due to the COVID-19 outbreak and resulting economic uncertainty. This, according to Willis Towers Watson’s… Read More

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