Insurtech

August 25, 2017 @ 2:44 pm By JD Alois  |  

S&P Global Market Intelligence is out with a report questioning three emerging Insurtech platforms. The report states that profitability is elusive for these startups. Mentioning specifically Lemonade, Metromile, and Root Insurance, S&P says that each reported overall net losses in the second quarter, as incurred losses… Read More

August 25, 2017 @ 8:51 am By JD Alois  |  

ONE, the German Insurtech company, has thrown down the gauntlet claiming they will outgrow US based Lemonade in service growth.  Lemonade is one of the highest profile Insurtech platforms that is doggedly rolling out across the US. Starting first with homeowners / renters insurance, Lemonade… Read More

August 15, 2017 @ 10:47 pm By JD Alois  |  

ONE (part of the Wefox Group) wants to change the way the world uses and purchases insurance and apparently the company is going to launch in September.  Starting in Europe, ONE, the newest Insurtech startup, says it will reinvent insurance many different ways. The insurance… Read More

August 2, 2017 @ 9:00 am By JD Alois  |  

Insurtech company Lemonade is now available for residents of New Jersey. Homeowners and renters may purchase insurance in seconds at Lemonade.com, or through the Lemonade app. New Jersey is the fourth state in Lemonade’s nationwide roll out.  The Garden State joins New York, California, and… Read More

July 25, 2017 @ 2:10 pm By Samantha Hurst  |  

On Tuesday, the British Insurance Brokers’ Association (BIBA) announced it has teamed up with Insure Apps to launch a new insurtech app, called Claims Made Easy, that may reduce the average claims reporting of 23 days by up to 90%. According to BIBA, the app significantly… Read More

July 24, 2017 @ 4:44 pm By Samantha Hurst  |  

Global innovation platform Plug and Play announced last week it achieved its latest milestone by signing its 50th participant only a year after its launch. According to the platform, Arch Insurance Group Inc was named the 50th participant shortly after its 45th partner joined the program in May. Plug and… Read More

July 16, 2017 @ 3:00 pm By Xu Gao  |  

CBRC Partners with 19 Banks to Establish Fintech Cloud Stack. By 2020, 60% of systems in China’s banking industry will be deployed in the cloud, most with the approval of the China Banking Regulatory Commission. According to the report, China Banking Regulatory Commission (CBRC) has… Read More

July 11, 2017 @ 9:00 am By JD Alois  |  

  Lemonade has announced the results of the company’s annual Giveback program, where a portion of the underwriting profits go to nonprofits. The Insurtech firm shares that the program has funded 14 charities chosen by Lemonade policyholders. Lemonade Insurance Company is a licensed insurance carrier offering… Read More

July 8, 2017 @ 9:12 am By Xu Gao  |  

Ant Financial Brings Artificial Intelligence to Auto Insurance On June 27th, The Alibaba Group financial affiliate rolled out an artificial intelligence-driven, image-recognition system to aid vehicle insurance claims adjusters in operating faster and more efficiently. In its demonstration in Beijing, Ant pitted man against machine,… Read More

July 5, 2017 @ 2:12 pm By Samantha Hurst  |  

Breega Capital, a France-based venture capital firm, announced this week its new venture fund, Breega Capital Venture 2, which is aimed towards startups in the fintech and insurtech sectors. The fund offers startups €100 million ($113 million). Founded in 2013, Breega describes itself as a… Read More

July 5, 2017 @ 1:26 pm By JD Alois  |  

A Discussion with Charles d’Haussy, Head of Fintech, InvestHK. Hong Kong has been a definitive leader in global finance and trade for many decades. Yet when it comes to Fintech, embracing financial innovation has been slower than some other centers of alternative finance. But recently Hong… Read More

June 28, 2017 @ 12:43 pm By Erin Hobey  |  

Each year CB Insights publishes The Fintech 250, recognizing the 250 top private companies changing the face of financial services around the world. From insurance to blockchain to lending to wealth management to regtech, the alphabetical list is comprised of companies in sectors from across… Read More

June 20, 2017 @ 9:00 am By JD Alois  |  

Lemonade, an insurance company powered by artificial intelligence, has published survey results indicating it has overtaken Allstate, GEICO, Farmers, Liberty Mutual, Progressive, State Farm, USAA and all other legacy insurers amongst first-time buyers of renters insurance in New York state.  According to Lemonade, the first… Read More

June 15, 2017 @ 4:48 am By Erin Hobey  |  

SURE, an insurtech startup that offers on-demand personal insurance via an app, has closed an $8 million Series A funding round led by with participation from Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant and AmTrust. The NYC and LA-based company also launched a Smartphone… Read More

June 12, 2017 @ 3:37 pm By Samantha Hurst  |  

India-based Coverfox has reportedly raised Rs 96 crore ($15 million) during its latest Series C Funding Round, which was led by U.S. insurer Transamerica with participation from existing investors. Founded in 2013 byVarun Dua and Devendra Rane, Coverfox reportedly offers products online for Indian customers across… Read More

June 10, 2017 @ 4:00 pm By Xu Gao  |  

Tsinghua PBCSF Global Finance Forum (2017) convened in Beijing On June 3, 2017 Tsinghua PBCSF Global Finance Forum, which was hosted by Tsinghua University, and organized jointly by the Tsinghua University PBC School of Finance (PBCSF) and Tsinghua University National Institute of Financial Research (NIFR),… Read More

June 7, 2017 @ 9:48 pm By Cole Lyons  |  

CreditEase, a China based peer to peer lender and wealth management platform, has announced its plans to open a new office in the Asia Square Tower in Singapore. The CEO of CreditEase, Ning Tang, said at the opening ceremony: “After 11 years of development, CreditEase… Read More

June 1, 2017 @ 3:27 pm By JD Alois  |  

Insurtech platform Lemonade has posted an update on platform growth. According to their information, they now have over 14,315 customers after 8 months of offering home-owners insurance. Lemonade is in the process of rolling out to much of the US (they must receive approval in… Read More

June 1, 2017 @ 9:54 am By Erin Hobey  |  

Trov has launched its on­-demand insurance platform in the UK, in partnership with AXA Insurance. Users are provided with a personalized quote and can quickly turn insurance on (or off) for an item without the need for any interaction with a traditional insurance agent. Items protected through… Read More

May 17, 2017 @ 12:59 pm By JD Alois  |  

Oliver Wyman is out with a report on the emerging Insurtech sector. Oliver Wyman is a global management consultancy operating in 30 different countries. For this specific report, they partnered with Policen Direkt Group in Germany, an insurance technology firm. The authors believe that the… Read More