Willis Towers Watson’s latest quarterly insurtech briefing included a provocative suggestion: is it time to stop labelling companies as insurtechs?
Lemonade’s soaring share price in its first day of trading will help assuage fears over how insurtechs are viewed in a post-Covid world.
Investors have sent HCI’s share price soaring after the carrier reported strong growth in second quarter premiums and hyped the potential of its insurtech subsidiary TypTap.
Property casualty software provider Duck Creek has priced its initial public offering of 15mn shares of common stock at between $19 and $21 a share.
Bold Penguin has named former KPMG auditor Dan Gifford as its chief financial officer, and projected the commercial insurtech will double in size in 2020.
Commercial property and casualty insurtech eMaxx has appointed Eileen Currie as president and CEO of its insurance operating companies as it prepares to become a full stack insurtech insurance company, The Insurer can reveal.
HCI’s Florida-focused homeowners and flood insurtech TypTap Insurance has announced plans to expand nationwide, with a goal to generate $5bn in revenue by 2030.
Home and auto insurtech Branch has moved a step closer to writing business on its reciprocal exchange after the platform was registered with regulators in its home state of Ohio and received a financial strength rating from Demotech.
Private equity firm SkyKnight Capital has continued to expand its (re)insurance industry portfolio through a strategic investment in technology-solutions provider Patra.
Commercial auto insurer Atlas Financial Holdings has revealed that steps to reduce expenses as part of its transition to an MGA include laying off or furloughing 30 percent to 40 percent of its staff, following an agreement to sell two more indirect subsidiaries to insurtech Buckle.
Buckle has raised $31mn in a series A funding round co-led by HSCM Bermuda and venture capital firm Eos Venture Partners, with the rideshare insurtech also continuing to build out its insurance balance sheet capabilities with a deal to buy two more Atlas subsidiaries.
CoverWallet, the US digital insurance platform acquired by Aon last year, has unveiled a new product focussed on VC-backed start-ups.
Fast growing intermediary platform Acrisure has bought artificial intelligence (AI) specialist Tulco’s insurance practice in a move it says will allow it to bring best-in-class data science, AI and machine learning capabilities to the insurance brokerage industry.
Data and analytics insurtech Jupiter Intelligence has raised additional capital from Liberty Mutual and MS&AD as the platform looks to expand its operations and push on with its product development to enable at-risk infrastructure to get a better understanding of the possible implications they face from climate change.
Lloyd’s Lab participant Phinsys has continued to scale up its operations with the addition of William Moore and Michael Toran to its senior management team.
Insurtech funding rebounded strongly in the second quarter but deal count was significantly down, as investors shunned seed and angel deals in favour of supporting later-stage fundraisings, according to Willis Towers Watson.
Lemonade’s share price fell 6.4 percent to close at $73.00 in trading Monday after analysts initiated coverage on the renters insurtech with a wide range of expectations, including Goldman Sachs analyst Heath Terry slapping it with a sell rating and $44 price target.
P&C software provider Duck Creek has set out plans to raise up to $200mn in an initial public offering (IPO).
Claim Genius, an insurtech offering vehicle damage assessment solutions using AI, has closed $5.5mn in a series A funding round, following a $2.3mn seed round in 2018.
Insurtech Branch is following up its recently closed Series A funding round by launching a reciprocal exchange platform that will be reinsured by Scor, The Insurer can reveal.
Home and auto insurtech Branch has closed a $24mn Series A funding round that was co-led by Hudson Structured Capital Management (HSCM) and which also saw Scor Global P&C make an inaugural investment in the platform.
Marrikel, founded by James Karim and Frederik Eloff, has launched a web-based reinsurance placement platform and signed its first broker licensee.
Hippo has closed a $150mn series E financing round that values the homeowners insurtech at $1.5bn.
Insurtech start-up Coverly is closing down and will no longer offer small business insurance.
Policybazaar is planning to go public in 2021 at a valuation of more than $3.5bn, its CEO and co-founder Yashish Dahiya has told Bloomberg News.
Cyber insurance start-up Arceo.ai has continued to build out its team of cyber insurance talent with the appointment of Charles “CJ” Pruzinsky as executive vice president and chief underwriting officer for its US operations.
UK broker consolidator PIB Group has made a move into the online insurance distribution space through the acquisition of specialist commercial property insurance website UKinsuranceNET.
BrokerTech Ventures, a broker-led investor group and accelerator programme for insurtech innovation, has added Cincinnati Insurance, RT Specialty, Amerisure Mutual and AmWINS as partners.
Despite pulling capacity from Hippo and Jetty, Munich Re remains committed to its Digital Partners platform amid a greater awareness of how quickly accumulations can mount across the broader group due to the rapid growth of some of its insurtech-focussed underwriting partnerships.
Electronic trading platform and PPL rival Whitespace has added Lockton Re and Carbon Underwriting to its growing list of customers which has surpassed 100 in the ten months after the platform’s launch.