Insurtech

January 12, 2020 @ 7:10 pm By Samantha Hurst  |  

UK-based insurtech Honcho has successfully secured its initial £700,000 funding target through its latest Crowdcube round. The campaign comes less than two years after Honcho raised £829,370 on Crowdcube.  As previously reported, Honcho describes itself as a reverse-auction marketplace where insurers enter a competitive real-time… Read More

January 9, 2020 @ 9:00 am By Samantha Hurst  |  

Corvus Insurance, a U.S.-based insurtech startup, announced on Thursday it raised $32 million through its Series B funding round, which was led by Telstra Ventures with participation from Obvious Ventures and existing Corvus investors including .406 Ventures, Bain Capital Ventures and Hudson Structured Capital Management…. Read More

January 8, 2020 @ 9:38 pm By Omar Faridi  |  

eBaoTech, an established multinational online insurance solution provider based in Shanghai, and Willis Towers Watson (NASDAQ: WLTW) have revealed that they will be working cooperatively to offer a robust, one-stop insurance middle office platform, in order to promote digitalization across the insurance industry. The collaboration… Read More

January 8, 2020 @ 12:46 pm By Samantha Hurst  |  

InsurTechNY, an InsurTech community that is based in the New York metro area, announced on Tuesday it has opened applications for the 2020 InsurTech Startup Competition. According to InsurTechNY, the competition has two tracks and will award $300,000 in prizes to the six winning teams. Startups in… Read More

January 8, 2020 @ 8:58 am By Omar Faridi  |  

Chicago-headquartered Clearcover, a company focused on improving the way people acquire car insurance, has completed its third investment round. Clearcover revealed on January 3 that it had finalized a $50 million Series C round, which was led by OMERS Ventures. Existing investors American Family Ventures,… Read More

January 7, 2020 @ 9:36 pm By Omar Faridi  |  

Bold Penguin, a commercial insurance technology (Insurtech) firm, is reportedly set to acquire xagent, an excess and surplus brokerage tech solution provider, so that it’s able to scale its services being offered to insurance carriers, brokers and agents. xagent says it will be integrating with… Read More

January 7, 2020 @ 9:29 pm By Omar Faridi  |  

Tel Aviv-headquartered Axell, a Fintech and insurance technology (Insurtech) innovation hub, revealed that it officially launched on January 6, 2020. The Israeli tech innovation hub will reportedly be led by Moshe Tamir, former deputy CEO at Tel Aviv-listed insurance firm Migdal Insurance and Financial Holdings,… Read More

January 7, 2020 @ 7:14 am By Samantha Hurst  |  

 Sapiens International Corporation, (NASDAQ: SPNS) and (TASE: SPNS), a global provider of software solutions for the insurance industry, announced on Tuesday it has acquired Germany-based insurtech sum.cumo for €28.4 million. Founded in 2010, sum.cumo claims it stands for the “successful, integrated digitalization” of traditional business… Read More

January 6, 2020 @ 10:14 am By Omar Faridi  |  

Solidarity Bahrain, one of Bahrain’s largest insurance service providers and a subsidiary of Solidarity Group Holding, has reportedly launched its newly developed core insurance system, TCS BaNCS. The TCS BaNCS insurance platform is part of the foundation of Solidarity’s digital transformation plan and has been… Read More

January 5, 2020 @ 2:33 pm By Omar Faridi  |  

Boston-headquartered Corvus Insurance, a company that offers artificial intelligence (AI)-enhanced cyber insurance policies for firms, has sold shares worth around $31 million in a $33 million investment round, a US Securities and Exchange (SEC) filing confirmed. Corvus Insurance, which is notably one of BostInno’s 50… Read More

January 3, 2020 @ 7:33 am By Omar Faridi  |  

The insurance technology (Insurtech) vendors aim to provide software that should simplify the decision-making process for clients. North America is reportedly experiencing the highest rate of Insurtech adoption because of how much customers in the area are spending on insurance-related products (according to a new… Read More

December 30, 2019 @ 11:17 am By Samantha Hurst  |  

UK-based insurtech Wrisk recently announced it has partnered with BMW Group Financial Services to offer MINI Flex Car Insurance. Wrisk reported that now all new MINIs will be sold with three months’ free insurance to eligible car buyers in the UK through the insurance product,… Read More

December 29, 2019 @ 10:26 pm By Samantha Hurst  |  

Jooycar, a Chilean insurtech that is seeking to disrupt the auto insurance and telematics space in Latin America, is reportedly set to launch in the U.S. this upcoming year. According to Contxto, Jooycar is looking to expand its customized car insurance service to the U.S…. Read More

December 26, 2019 @ 10:06 pm By Samantha Hurst  |  

Insurtech startup Hippo Insurance recently announced it has formed a new partnership with Home Point Financial, a national mortgage originator and servicer. Hippo reported that with its online application process integrated directly into the Home Point online mortgage platform, customers may now take advantage of… Read More

December 22, 2019 @ 5:01 pm By Omar Faridi  |  

Fintech startups Spendesk, Wynd, and Lunchr conducted some of the largest fundraising rounds in France in 2019. A study by “Observatoire de la Fintech” reveals that these financial technology companies secured a total of $700 million (appr. €625 million) in capital. Mikaël Ptachek, head of… Read More

December 21, 2019 @ 11:03 pm By Omar Faridi  |  

Volvo Financial Services (VFS), the global finance division of automobile manufacturing giant Volvo, has made an investment in REIN, an insurance technology (Insurtech) firm. REIN has created a configurable platform that lets insurance carriers build and deploy their own programs and solutions. This allows them… Read More

December 20, 2019 @ 3:24 pm By Samantha Hurst  |  

Less than two years after securing £829,370 through its previous equity crowdfunding campaign on Crowdcube, UK-based insurtech Honcho has returned to the funding platform to raise an additional £700,000 in funding. The company is offering 9.21% in equity at a £6,899,999 pre-money valuation.  As previously… Read More

December 19, 2019 @ 10:56 pm By Samantha Hurst  |  

Found, a UK-based insurtech, is now seeking 250,000 through its equity crowdfunding round, which was launched on Seedrs. Founded in 2017, Found describes itself as an innovative, community-focused, technology-driven lost property management start-up with an exciting insurtech​ offering. “By reuniting the public with their lost… Read More

December 19, 2019 @ 7:57 am By Omar Faridi  |  

Gurugram, India-based insurance technology (Insurtech) firm Toffee Insurance revealed on December 17 that it had secured $5.5 million via a Series A investment round led by IVM Intersurer, Omidyar Network, Flourish Ventures, Accion Venture Lab and Kalaari Capital. Toffee says it will use the capital… Read More

December 18, 2019 @ 2:45 pm By Samantha Hurst  |  

Hourly, a U.S.-based insurtech/fintech that simplifies workers’ comp insurance, payroll and time tracking for small business owners, announced on Wednesday it secured $7.15 million through its latest seed funding round, which was led by Aya Peterburg and Haim Sadger of S Capital, with participation from Inovia Capital, J-Angels and… Read More