This year’s top insurance modelThe topics of the best model for starting up in the (re)insurance industry and how existing companies must evolve their business models to stay ahead were discussed by senior executives at a roundtable held in New York by The Insurer – in association with Lloyds Bank.
Risks bound on PPL tops 50,000Over 50,000 risks have now been bound on the Lloyd’s electronic placing platform PPL.
Leading insurtechs growing fast, profits harder to findAn analysis of six prominent insurtechs with US statutory entities reveals consistently impressive premium growth figures but widely varying expense figures and underwriting losses for most.
Broker PPL adoption breaks 100 thresholdThe number of brokers registered on the Lloyd’s e-placement platform – PPL – has exceeded 100 for the first time, according to figures from the London and International Insurance Brokers Association (LIIBA).
Insurtech VC firm IA Capital raises $150mnInsurtech-focused venture capital firm IA Capital Group has raised $150mn across three funds as it looks for new investments in the sector.
Cyber risk insurtech Sayata Labs raises $6.5mnIsraeli start-up Sayata Labs has raised $6.5mn in seed funding and announced a partnership with French insurer Axa.
Cohen & Co venture eyes ILS and insurtech M&A with $151mn IPOCohen & Co’s blank-cheque start-up Insurance Acquisition Corp (IAC) has completed an IPO on Nasdaq, raising gross proceeds of $151mm as it sets out to identify targets for transactions in the (re)insurance sector.
Chaucer teams with marine insurtech ConcirrusLloyd’s specialty insurer Chaucer has partnered with marine focused insurtech, Concirrus, to use its data analytics platform.
German insurtech Friday secures Eur114mn of fundingDigital motor insurance company Friday has completed a round of funding, with founder The Baloise Group investing Eur75mn ($84mn) and Seven Ventures and German Media Pool investing a combined Eur39mn.
German insurtech Wefox raises $125mnBerlin-based Wefox Group has raised $125mn in what the company says is the largest ever series B round for an insurtech company.
ChainThat to launch blockchain-powered risk and capital exchange in BermudaA blockchain-powered risk and capital exchange for the re/insurance industry is set to be introduced in Bermuda later this year by ChainThat, providing access to capital markets with the use of blockchain.
Cyber insurtech Arceo.ai launches platform with heavyweight supportInsurtech cyber start-up Arceo.ai has officially launched its platform with the backing of a heavyweight advisory board that includes former Aspen executive Mario Vitale and ex-RMS CEO Hemant Shah.
Allianz increases digital investment unit’s fund size to Eur1bnAllianz X has received additional investment from its German insurer parent, increasing its fund size to Eur1bn ($1.13bn) from Eur430mn.
Risk trading insurtech Akinova gets investment from Hiscox & MS&ADElectronic risk trading insurtech Akinova has secured investment from both Hiscox Re and Japanese conglomerate MS&AD via its Silicon Valley based venture capital firm.
Asia poised for substantial insurtech growth: KPMGInsurtech “matured significantly as a sector” last year, with 13 deals worth more than $100mn each, according to a new KPMG report.
Nationwide and MS&AD invest in insurtech platform SocotraInsurtech platform Socotra has raised $5.2mn, bringing its overall funding to $18mn.
Beazley-backed Digital Risks gains Lloyd’s coverholder statusUK-based insurtech start-up Digital Risks has achieved Lloyd’s coverholder status, enabling it to cover more specialist risks and insure UK businesses that trade internationally.
Inshur raises $7mn in Munich Re-led Series A fundingCommercial auto insurtech venture Inshur has closed a Series A investment round, securing $7mn in equity funding and a further $2mn credit facility.
Renters InsurTech Jetty in $25mn fundraiseRenters insurance-focused InsurTech Jetty has raised $25mn in a Series B funding round led by Keith Rhabois of Khosla Ventures, who will join the firm’s board of directors.
Former Axa exec Touffut launches InsurTech MGAFormer Axa Global Parametrics CEO Tanguy Touffut has launched a new MGA called Descartes Underwriting with funding from BlackFin Tech.