Tagged: insurance

UK-Based Insurtech Honcho Completes Crowdcube Round With Nearly £850,000 in Funding

Over the weekend, UK-based insurtech Honcho completed its equity crowdfunding round on Crowdcube with a total of £849,880 secured from 712 investors. The campaign was launched in December and successfully raised its initial £650,000 days before the funding closed. As previously reported, Honcho is described as a reverse-auction marketplace… Read More

California Insurtech Hippo Announces Partnership With Spinnaker Insurance

On Wednesday, California-based insurtech company Hippo announced it has formed a strategic partnership with Spinnaker INsurance Company. The company revealed that through the new collaboration, it will expand to new states and bring its smart home coverage to over 60% of the U.S. population by… Read More

Data Science Company CLARA Raises $11.5 Million Through Series A Funding Round For AI Insurtech Claim Solutions

Artificial intelligence (AI) and data science company, CLARA Analytics, announced on Thursday it raised $11.5 million Series A funding round led by OAK HC/FT for its AI insurtech claim solutions. Founded in 2016, CLARA Analytics states it builds easy-to-use, AI/machine-learning based products. The company revealed: “Today, solutions… Read More

Overfunding: Honcho Surpasses £650,000 Funding Target on Crowdcube

Honcho, a UK-based reverse-auction marketplace where insurers enter a competitive real-time bidding process to offer the best price to customers, has successfully secured its initial £650,000 funding target from more than 475 investors on equity crowdfunding platform Crowdcube. As previously reported, the platform is aiming to launch… Read More

Global Consulting & Actuarial Firm Milliman Launches New Cloud-Based Insurtech Solutions Process

On Wednesday, global consulting and actuarial firm Milliman announced it has launched its new cloud-based insurtech solutions process, Arius Enterprise. According to the company,  Arius Enterprise is part of its Arius family of solutions and relies on the Arius software to provide the analysis and… Read More

Root Insurance Now Approved to Sell Auto Insurance in Mississippi

This week, insurance company Root Insurance announced it is now able to offer its services to drivers in Mississippi. The company stated: “That’s right Mississippi, we’ve arrived, and we’re here to save you from paying too much for car insurance. Because if you’re a good… Read More

Honcho Looks to Raise £650,000 Through Crowdcube For Upcoming Insurance Platform

Honcho, a UK-based reverse-auction marketplace where insurers enter a competitive real-time bidding process to offer the best price to customers, has launched an equity crowdfunding campaign on Crowdcube seeking £650,000 as it prepares to launch its upcoming platform. The company revealed: “Honcho is a new mobile app… Read More

Overfunding: Insurtech Startups Wrisk Surpasses £500,000 Funding Target on Seedrs

Just days after launching its equity crowdfunding campaign on Seedrs, UK-based insurtech Wrisk has successfully secured its initial £500,000 funding target from more than 300 investors. As previously reported, Wrisk wants to shake up the antiquated insurance industry with their smartphone app that makes purchasing insurance and filing… Read More

Accenture Teams Up With Duck Creek Technologies to Launch Blockchain Proof-Of-Concept for Medical Bill Auditing

Earlier this week Accenture announced it has formed a partnership With Duck Creek Technologies to launch a blockchain proof-of-concept for medical bill auditing. While sharing details about the collaboration, Cindy DeArmond, managing director and P&C Core Platforms Lead for Accenture in North America, stated: “These new… Read More

Lemonade CEO & Cofounder Daniel Schreiber Squeezes in Some Time for a Few Questions

In celebration of its first anniversary, Insurtech platform Lemonade launched a freshly squeezed product, Zero Deductible. Zero Deductible offers new and existing Lemonade members a ‘zero deductible’ upgrade, so that customers may make up to two claims each year with neither deductible payments nor rate hikes. Powered by AI… Read More

Making Lemonade Even Sweeter: Zero Deductible Launched on First Anniversary

Lemonade, the insurance company powered by artificial intelligence and behavioral economics, has launched a new product called Zero Deductible which offers new and existing Lemonade members a ‘zero deductible’ upgrade, so they can make up to two claims each year with no deductible payments, and no rate hikes. The launch… Read More

India Insurance Company Coverfox Secures $15 Million During Series C Funding Round Led By Transamerica

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

Insurtech Startup Lemonade Now Available in California

Lemonade, a new spin on providing insurance, has announced it has received regulatory approval in California and is now available for homeowners to purchase insurance online. The Insurtech firm is now operating in three states including New York and Illinois. Lemonade said that launching in… Read More

Insurtech: Next Insurance Raised $13 Million in Seed Funding to Fix SME Insurance

  The Insurtech sector has been a hot segment of the Fintech industry. In Q1 according to KPMG, Insurtech investment slowed overall but still registered a health $243 million across 43 deals. KPMG predicts this “lull” will not last as insurance companies around the world… Read More

South Korean Life Insurance Company Kyobo Life Tests Blockchain

Last week, the South Korean government selected life insurance company, Kyobo Life, to pioneer blockchain technology for the money payments of commercial insurance. This new project aims to create a foundation for promoting the Internet of Things (IoT) infrastructure in South Korea. This government sponsored… Read More

Lemonade Adds Illinois to List of States Where it Provides Insurance

Insurtech firm Lemonade has moved into the midwest by adding Illinois to the list of the states where it may offer insurance. Adding Illinois comes six months after launching in New York state by receiving regulatory approval to offer insurance. Lemonade is an insurance company… Read More

Insurtech Firm Lemonade Continues Transparency Push with Growth Update

Lemonade, the Insurtech firm that wants to bulldoze insurance as we know it, has published their 3rd and final in a series about platform growth and transparency. Chief Behavioral Officer Dan Ariely, the author of the update, recognizes that 100 days of data isn’t really that… Read More

Insurtech Platform Lemonade Updates on First Quarter of Operations

Lemonade, the Insurtech company that wants to be your preferred insurance provider, has just published a report on their first quarter of operations. Note that Lemonade is only operating in the state of New York right now but they have plans to expand across the… Read More

Insurtech Startup Lemonade Touts Ability to Pay Claim in 3 Seconds

Disruptive insurance platform Lemonade is pointing to its ability to pay customer claims really fast. How fast – you ask? Lemonade has staked a claim on a “new world record” as its artificial intelligence allowed the Insurtech firm the ability to pay a claim in… Read More

World Bank Invests in Myanmar’s Financial Inclusion, $100M in Credit

The World Bank established the Financial Sector Development Project to support Myanmar’s SMEs — the latest sign of progress in the country’s economy.  The five-year project includes $100 million in credit, which will be used to allow SMEs increased access to financial services.  The project will… Read More