Insurtech

May 23, 2020 @ 3:22 pm By Omar Faridi  |  

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

May 19, 2020 @ 1:03 pm By Samantha Hurst  |  

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

May 14, 2020 @ 4:51 pm By Samantha Hurst  |  

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

May 8, 2020 @ 2:01 pm By Samantha Hurst  |  

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

May 8, 2020 @ 7:48 am By Omar Faridi  |  

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

May 7, 2020 @ 4:27 pm By JD Alois  |  

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

May 6, 2020 @ 10:47 pm By Omar Faridi  |  

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

May 6, 2020 @ 10:02 am By Samantha Hurst  |  

Buckle, a U.S.-based financial services, announced on Wednesday it has been temporary approval to add insurance coverage to its rideshare driver members’ policies for the delivery of food, household supplies, and other packaged goods during the COVID-19 pandemic. Buckle reported that due to the virus,… Read More

May 5, 2020 @ 11:35 pm By Omar Faridi  |  

ZA Bank, the first digital bank to officially launch in Hong Kong, has decided to expand its line of products and services by offering insurance. This, soon after ZA Bank acquired a digital-only insurer license from the Hong Kong Insurance Authority under its Fast Track… Read More

May 5, 2020 @ 9:30 pm By Samantha Hurst  |  

 First Dollar, a U.S.-based health care savings platform, announced on Tuesday it secured $5 million through its seed funding round, which was led by Next Coast Ventures with participation from Meridian Street Capital, former athenahealth CEO Jonathan Bush, Everlywell CEO Julia Cheek, Bright Health CTO… Read More

May 5, 2020 @ 12:44 pm By Samantha Hurst  |  

Getsafe, a Germany-based insurtech startup, is reportedly delaying expansion into other European markets due to the COVID-19 pandemic. This news comes just a few months after Getsafe announced its expansion into the UK. As previously reported, Getsafe claims it is looking to reinvent insurtech and is… Read More

May 4, 2020 @ 8:25 pm By Omar Faridi  |  

Fintech firm GoBear, which offers a financial products comparison website, confirmed on May 4, 2020, that it has acquired AsiaKredit, a Singapore-based digital lender. The amount paid for the acquisition has not been shared publicly. GoBear’s acquisition has come after the Fintech company secured $80… Read More

May 4, 2020 @ 9:26 am By Samantha Hurst  |  

  Branch, a U.S.-based insurtech startup, announced on Monday it has launched in Texas. The launch notably marks the company’s fifth expansion since launching in August 2019. As previously reported, Branch “taps” into the power of community to make insurance accessible and affordable for everyone,… Read More

May 3, 2020 @ 11:52 pm By Samantha Hurst  |  

QOALA, an Indonesia-based insurtech, announced earlier this week it secured $13.5 million through its Series A funding round, which was led by Centauri Fund with participation from  MDI Ventures, Sequoia India, Flourish Ventures, Mirae Asset Daewoo’s Mirae Asset Venture Capital and PT Mirae Asset Sekuritas Indonesia. Founded in… Read More

May 3, 2020 @ 11:33 pm By Samantha Hurst  |  

OneDegree, a Hong Kong-based insurtech, recently announced its medical pet insurance. This launch comes just after the company received its virtual insurance license. Founded in 2016, OneDegree claims to be it is part of a new generation of insurers that are reimagining the industry with… Read More

April 30, 2020 @ 9:39 am By Samantha Hurst  |  

Covered by SAGE, a modern, tech-enabled Property and Casualty (P&C) insurance brokerage, announced this week it secured $6 million through its latest seed funding round, which was led by NFX with participation from Tectonic Capital and Treasury, the fintech platform launched by Acorns and Betterment Co-Founders…. Read More

April 29, 2020 @ 10:49 am By Samantha Hurst  |  

Novae, a U.S.-based fintech and insurtech firm, has formed a new partnership with Latin American airline loyalty program LifeMiles to launch a new travel protection program called Miles Care. According to the duo, the program will enable travelers’ protection for trip cancellation and interruption, delayed… Read More

April 25, 2020 @ 2:47 pm By Omar Faridi  |  

Singapore-based Axinian, an insurance technology (Insurtech) firm, has reportedly finalized its Series A+ investment round. To date, the company has secured $16 million in capital for its ongoing growth and development. Axinian’s funding round was led by InVent, the corporate venture capital division of Intouch… Read More

April 22, 2020 @ 2:22 pm By Samantha Hurst  |  

John Hancock Financial announced on Wednesday it has joined forces with Clareto, a provider of digital solutions to acquire and aggregate electronic health data,  improve underwriting speed and efficiency of life insurance purchase processing. Through the collaboration, John Hancock will use Clareto’s network to obtain… Read More

April 22, 2020 @ 11:20 am By JD Alois  |  

Even Financial, a Fintech that helps to match loans to borrowers, has acquired LeapLife – an Insurtech platform – in a move to add more services. Terms of the deal were not disclosed. According to a company release, the addition of LeapLife allows Even to… Read More