IM-Trellis-AMEX

Amex Ventures invests in insurtech Trellis

2022-05-20T20:26:00+01:00

Amex Ventures has invested a reported $5mn in Trellis, a San Francisco-based company that makes it easier for consumers to switch insurers.

Daniel Schreiber – Lemonade

Lemonade reaches $4mn settlement of Illinois biometric suit

2022-05-20T18:58:00+01:00

New York-listed insurtech Lemonade has reached a settlement of a consolidated class action lawsuit filed in Illinois state court that accused it of collecting and storing biometric information without consent.

Ed Gaze Lloyds Lab

Leader Gaze leaves Lloyd’s Lab

2022-05-19T15:12:00+01:00

Ed Gaze, who has been head of the Lloyd’s Lab since 2018, announced today that he will be leaving the innovation hub in August.

IM-McGriff-Covered-ReneeKeen-NorthCarolina

McGriff launches personal lines platform with insurtech Covered

2022-05-18T21:40:00+01:00

Truist-owned retail broker has launched a digital platform in conjunction with the insurtech Covered aimed at simplifying personal lines transactions by allowing clients to shop for insurance digitally while also having access to agents through chat, text, email, or by phone.

John Swigart Pie

Pie gets a bigger slice as it doubles GWP

2022-05-18T15:27:00+01:00

SiriusPoint and Allianz-backed insurtech Pie Insurance has today announced a solid set of Q1 figures, reporting growth in gross written premiums, a rise in annualised run-rate premium and strong customer acquisition.

IM-VESTTOO-NY-GW

Vesttoo continues build-out as Prudential’s Wadhwa appointed CFO

2022-05-16T13:00:00+01:00

Vesttoo has made another hire in its New York office with Gaurav Wadhwa joining the fast-growing insurtech as its new chief financial officer.

Rick McCathron – Hippo

Hippo shares rise 31% after big loss ratio improvement in Q1

2022-05-13T21:27:00+01:00

Investors sent Hippo’s share price up 31 percent on Friday after the homeowners insurtech reported a 122 point improvement in its gross loss ratio, while its president Rick McCathron has told this publication that it will shortly expand into North Carolina and Massachusetts.

Hippo Q1 results

Hippo reduces loss ratio to 76% as revenue rises 44% in Q1

2022-05-13T12:11:00+01:00

Hippo Insurance Services has reported a gross loss ratio of 76 percent for the first quarter of 2022, a reduction of 122 percentage points year on year and the strongest result for the metric since the homeowners insurtech became a public company last August.

VESTTOO NY

Vesttoo adds legal specialists Schonbrun and Goldfried to NY office

2022-05-12T23:58:00+01:00

Vesttoo has added to its New York based team with the hires of legal specialists David Schonbrun and Daniel Goldfried.

Andy Liu – Bees 360

Property inspection insurtech Bees360 closes Series A funding round

2022-05-12T15:23:00+01:00

Bees360, an insurtech that provides drone and AI technology for property underwriting and claim inspections, has closed a Series A round, The Insurer can reveal.

Harshet Lunani and Tommy Martin – Qoala

Indonesian insurtech Qoala raises $65mn in Series B round

2022-05-12T14:04:00+01:00

Indonesian insurtech start-up Qoala – which distributes retail insurance products for cars, bikes, homes and health – has raised $65mn of Series B funding led by Eurazeo.

II-AtBay

At-Bay confirms new capacity deal through fronting carrier Trisura

2022-05-11T19:58:00+01:00

Cyber insurtech MGA At-Bay has confirmed the launch of a new program through fronting carrier Trisura that is backed by a panel of “diverse and highly rated” capacity providers, a partnership first revealed by The Insurer on Wednesday morning.

Tomas Holub – Covergo

No-code platform CoverGo raises $15mn in Series A round

2022-05-11T15:41:00+01:00

CoverGo, a no-code software-as-a-service insurance platform, has raised $15mn in Series A funding led by SemperVirens VC with participation from a number of US venture capital firms and insurance groups.

Metromile

Metromile Q1 accident year loss ratio jumps 20 pts to 85.1%

2022-05-10T22:13:00+01:00

Metromile has reported its accident year loss ratio worsened to 85.1 percent in the first quarter as the auto insurtech suffered from an increase in claims severity observed industry-wide as well as bodily injury frequency.

IM-SiriusPoint-AVINEW

SiriusPoint invests in autonomous motor MGA Avinew

2022-05-10T20:43:00+01:00

SiriusPoint has invested in autonomous vehicle technology through a strategic partnership with Avinew under which the Bermudian (re)insurer will also offer fronting services, reinsurance and strategic advice to the MGA.

Daniel Schreiber – Lemonade

CEO Schreiber: High conviction in Lemonade despite share price drop

2022-05-10T18:38:00+01:00

The CEO of insurtech Lemonade Daniel Shreiber said he has “a high-level of conviction” in Lemonade’s future prospects, despite what he acknowledged has been a “spectacular” fall in the company’s share price.

Branch

Insurtech Branch closing in on $100mn+ in Series C funding led by Weatherford

2022-05-10T14:34:28.527+01:00

Home and auto insurtech Branch is in the final stages of raising over $100mn in Series C funding Ied by Tampa-based investment firm Weatherford Capital, with existing backers Hudson Structured Capital Management (HSCM) and American Family Ventures also set to contribute to the round, The Insurer can reveal.

Counterpart Aspen Markel

Management liability insurtech Counterpart adds Aspen as carrier partner

2022-05-10T12:02:00+01:00

Counterpart has partnered with Aspen Insurance in a move the insurtech’s CEO Tanner Hackett told this publication will allow it to bring management liability products to larger businesses than it currently does on Markel paper.

Jonathan Sherling – DVx

Corvus FI head Sherling departs for DVx Ventures

2022-05-06T15:18:00+01:00

The head of Corvus Insurance’s newly launched financial institutions (FI) platform Jonathan Sherling has left the insurtech and joined DVx Ventures, a venture capital operation led by former Tesla president and Lyft chief operating officer Jon McNeill, The Insurer has learned.

Kin

Kin reports Q1 GPW hike as loss ratio tumbles

2022-05-06T00:02:00+01:00

Homeowners insurtech Kin recorded a more than threefold increase in gross premiums written (GPW) in Q1 2022 while the Chicago-based business saw its adjusted loss ratio for the period fall by 20.4 points year on year.

Lloyds Lab

The Lloyd’s Lab is a worthy experiment in innovation….

2022-05-05T07:12:00+01:00

Mark Huxley, non-executive director of Altus and 40+ year veteran of Lloyd’s explores the importance of the Lloyd’s Lab and explains why internal stakeholders need to pay greater attention if the initiative is to flourish

Jeff Greenberg – Aquiline

Aquiline closes new $365mn tech fund with insurtechs among targets

2022-05-04T19:33:00+01:00

Jeff Greenberg-led Aquiline Capital Partners has announced the final closing of Aquiline Technology Growth Fund II (ATG II) with more than $365mn in total commitments, exceeding its target of $300mn.

Simon Burton – Greenlight Re

Greenlight Re’s Q1 Russia-Ukraine losses do not reach retro attachment

2022-05-04T14:27:00+01:00

Greenlight Re’s $13.6mn of losses related to the Russia-Ukraine war do not reach the attachment point for its retrocession cover, CEO Simon Burton has commented, with the executive also bemoaning the fact that the days of the first quarter being benign for the industry “seem distant now”.

IM-Skyward-eMAXX-cranes-US

Skyward Specialty builds crane and rigging program with eMaxx

2022-05-04T06:34:00+01:00

Skyward Specialty Insurance Group has broadened its portfolio of construction-focused products with the launch of a new crane and rigging captive solution in partnership with insurtech eMaxx Assurance Group.

IM-Burns-Wilcox-Loadsure-Trucks

Burns & Wilcox agrees exclusive Canadian wholesale partnership with cargo MGA Loadsure

2022-05-04T00:24:00+01:00

Burns & Wilcox has entered into an exclusive wholesale partnership with UK-based insurtech MGA Loadsure to distribute the Lloyd’s of London coverholder’s transit insurance coverage to independent brokers in Canada.

IM-ErikJohnson-Victor

Johnson linked with MIC Global Lloyd’s move after Victor exit

2022-05-02T21:14:00+01:00

Erik Johnson has been linked with a move to newly launched MIC Global Insurance Syndicate in a box (SIAB) 5183 at Lloyd’s after leaving his position as deputy active underwriter of Victor Insurance Holdings’ Syndicate 2288, The Insurer can reveal.

IM-Sirius-Joyn

Insurtech Joyn out fundraising to support next leg of growth

2022-05-02T16:02:00+01:00

Seraina Macia-led SME-focused insurtech Joyn has launched a fundraising process that could see the company net between $20mn and $30mn in capital in what would be the company’s Series B round as it fuels up to support its growth, The Insurer can reveal.

Root

Root shares rise 10% on Q1 results, management reveals brokerage product

2022-04-29T14:02:00+01:00

Investors responded to Root’s better-than-expected first-quarter results by sending the auto insurtech’s share price up over 10 percent, with management also revealing it is preparing a brokerage product that will launch later in the second quarter.

Gallagher Re

Gallagher Re: Insurtech funding falls to $2.2bn in Q1, lowest total since Q2’20

2022-04-29T07:30:32.573+01:00

Funding for insurtech businesses slipped to $2.2bn in the first quarter, down from the record-breaking $5.6bn raised in Q4, as the number of “mega-round” deals fell while overall deal count was roughly flat, according to the latest Global Insurtech Report from Gallagher Re.

SiriusPoint Broker Buddha

SiriusPoint seeks enlightenment with Broker Buddha partnership and investment

2022-04-28T15:37:00+01:00

Bermudian (re)insurer SiriusPoint has announced a partnership with commercial insurtech Broker Buddha, a platform which simplifies submissions for brokers and enhances their clients’ experience.