At a symposium hosted by reinsurance brokerage Guy Carpenter at this year’s Baden-Baden conference, senior re/insurance figures provided a range of insights into the industry’s readiness to adapt and harness the benefits inherent to the tech-driven Industry 4.0. With the needs of clients in constant flux and business efficiency and interconnectedness evolving faster than ever… Continue reading Reinsurers Discuss Embracing Insurance 4.0 at Baden-Baden Conference
Tag: Insurtech
Next Insurance Raises $250 Million from Munich Re
Reinsurance company Munich Re AG has invested $250 million in Next Insurance Inc. in a funding round that valued the small-business insurance provider at more than $1 billion. Munich Re was the sole investor in the Palo Alto, Calif.-based company’s Series C round. Next Insurance offers general liability, professional liability, workers’ compensation and other types… Continue reading Next Insurance Raises $250 Million from Munich Re
Zurich Launches Second Edition of Its Worldwide Startup Competition
Applications are open for Zurich Insurance Group’s Innovation Championship, offering startups the opportunity to work with the global insurer to grow their business. Zurich is looking for startups with bold ideas in a broad range of application fields. In its second year, the global contest is looking for established startups with commercially viable technologies and… Continue reading Zurich Launches Second Edition of Its Worldwide Startup Competition
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
Root Insurance Raises $350M in Series E Funding, Led by Coatue and DST Global
Root Insurance, the largest property casualty InsurTech in the country, announced today $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional $100 million in debt financing. This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional… Continue reading Root Insurance Raises $350M in Series E Funding, Led by Coatue and DST Global
Insurtech Funding Rises Nearly 280% in Q2: CB Insights
A handful of very large insurtech funding deals in the second-quarter of 2019 helped to take the total amount of fundraising for the quarter to almost $1.4 billion, which is almost 280% up on the prior year. Data from CB Insights shows that insurtech funding was down slightly on Q1 of this year, as it… Continue reading Insurtech Funding Rises Nearly 280% in Q2: CB Insights
Slice and SOMPO Announce ICS Proof-of-Value Contract Bringing On-Demand Insurance to Asia
Slice Labs Inc., the first on-demand insurance cloud platform provider, announced today that it has entered into a proof-of-value contract with Sompo Holdings Asia (SOMPO), regionally headquartered in Singapore and part of Sompo Holdings, a top Japanese insurer. This new partnership brings on-demand insurance to the fast growing Asia Pacific region of Asia, the first… Continue reading Slice and SOMPO Announce ICS Proof-of-Value Contract Bringing On-Demand Insurance to Asia
Juniper Research: Global AI Insurance Premiums to Exceed $20 Billion by 2024
New data from Juniper Research forecasts that the value of AI underwritten insurance premiums will exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019. This growth will be driven by streamlined underwriting processes, faster customer onboarding and reductions in operational costs enabled by AI. According to the research, Insurtech: Impact Assessments,… Continue reading Juniper Research: Global AI Insurance Premiums to Exceed $20 Billion by 2024
Lloyd’s Lab Selects Third Cohort of Insurtechs for Accelerator Program
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, has announced the third cohort of insurtech firms selected to take part in its 10-week program. The 11 successful teams were selected from more than 130 applications around the world, and will begin working in the Lab from September 2. Lloyd’s said the… Continue reading Lloyd’s Lab Selects Third Cohort of Insurtechs for Accelerator Program
InsurTech Hippo Insurance Raises $100 Million in Series D Funding Round Led by Bond
Hippo, the high growth insurtech company that’s transforming the home insurance market, today announced a $100 million Series D funding round led by Bond, the global technology investment firm founded by Mary Meeker, Mood Rowghani, Noah Knauf and Juliet de Baubigny. Since its launch in 2017, Hippo’s modern take on home insurance, from coverage and… Continue reading InsurTech Hippo Insurance Raises $100 Million in Series D Funding Round Led by Bond