Openly Inc., the tech-enabled home insurance provider designed to empower rather than replace agents and simplify the home insurance buying process, announces a $7.65M seed round of funding led by Gradient Ventures, Google’s AI-focused venture fund. Simultaneously, Openly announces its market debut in Illinois and Arizona. Openly is backed by a diverse coalition of investors… Continue reading Openly Secures $7.65 Million to Empower Insurance Agents and Simplify Home Insurance
Tag: home insurance
Wildfire Victims Insist $11 Billion Insurance Pact Is Blocking PG&E Deal
Victims of wildfires linked to PG&E Corp.’s equipment said property insurers with billions of dollars on the line aren’t at the negotiating table, lowering the chances of a comprehensive deal to end the bankruptcy. “They took the cash. There’s no cash left,” fire victim lawyer Robert Julian said at a hearing Tuesday in the U.S.… Continue reading Wildfire Victims Insist $11 Billion Insurance Pact Is Blocking PG&E Deal
French Start-Up Luko Raises $22 Million to Improve Home Insurance
French startup Luko has raised a $22 million Series A round led by Accel (€20 million). Founders Fund and Speedinvest are also participating in today’s funding round. When you rent a place in France, you have to provide a certificate to your landlord saying that you are covered with a home insurance product. And, of… Continue reading French Start-Up Luko Raises $22 Million to Improve Home Insurance
Reducing U.S.’s Wildfire Risks Will Require Concerted Action
Nearly a year after the deadliest and costliest wildfire in U.S. history, insurers and the customers they cover are revisiting how to reduce their collective exposure to this risk, according to the Insurance Information Institute (I.I.I.). “While our research has been in the works for the last year because of California’s catastrophic wildfires in 2017… Continue reading Reducing U.S.’s Wildfire Risks Will Require Concerted Action
More Californians Could Lose Home Insurance After Wildfires: WSJ
A new wave of wildfires is likely to reduce the availability of home insurance in vulnerable areas of California. Home insurance already became scarce and expensive in some regions after insurers’ massive payouts for wildfire losses in the state in 2017 and 2018. Home insurers have declined to renew tens of thousands of home-insurance policies… Continue reading More Californians Could Lose Home Insurance After Wildfires: WSJ
Evacuations Underway in Los Angeles as Getty Fire Threatens Thousands of Homes
A growing brush fire was threatening thousands of homes in Brentwood and other hillside communities on the westside of Los Angeles, burning homes and prompting widespread evacuations early Monday. The Getty fire broke out shortly after 1:30 a.m. along the 405 Freeway near the Getty Center and spread to the south and west, rapidly burning… Continue reading Evacuations Underway in Los Angeles as Getty Fire Threatens Thousands of Homes
Are Adjusters Cheating California Wildfire Victims?
Two wildfire victims are suing California’s top insurance regulator, alleging the state failed to protect Californians from unscrupulous, out-of-state adjusters working illegally in California who mishandled claims. The Department of Insurance is fighting the case in court, saying in documents that the suit is “an attempt to manufacture a ‘crisis’ that does not exist.” Yet… Continue reading Are Adjusters Cheating California Wildfire Victims?
Unprecedented Power Outages Begin in California as Winds Bring Critical Fire Danger
In an unprecedented move, Pacific Gas & Electric early Wednesday began shutting off power to about 800,000 customers across Northern California in an attempt to avoid wildfires caused by winds damaging power equipment. The power cutoffs started in several counties around Sacramento, including Placer and Yuba, amid increasing winds. Officials said cutoffs will continue throughout… Continue reading Unprecedented Power Outages Begin in California as Winds Bring Critical Fire Danger
AAIS and Munich Re Partner to Help Close the Flood Insurance Gap in the U.S.
AAIS (American Association of Insurance Services), the only national not-for-profit insurance advisory organization, today announced a new partnership with Munich Reinsurance America, Inc. (Munich Re), one of the world’s largest reinsurers, that will focus on improving flood insurance for U.S. homeowners. As the risk of flood continues to rise in the U.S., so too does… Continue reading AAIS and Munich Re Partner to Help Close the Flood Insurance Gap in the U.S.
Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors: J.D. Power Finds
Nearly three-fourths (74%) of homeowners insurance customers believe the industry needs improvement, with 13% of customers indicating that “radical improvement is needed,” according to the J.D. Power 2019 U.S. Home Insurance Study.SM The study also finds that overall customer satisfaction with home insurance has declined for the first time since 2015, creating an opportunity for… Continue reading Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors: J.D. Power Finds