Socotra, creator of the first cloud-native, productized insurance core platform, announced today that it has raised an additional $5.2 million in funding on the heels of its $5.5 million Series A, bringing its total funding to $18 million. Investors included 8VC, which also led the Series A, the venture investment arm of insurance and… Continue reading InsurTech Socotra Raises Additional $5.2 Million Funding with Insurers Nationwide and Mitsui Sumitomo
Tag: Insurtech
Chatbots Using AI Are Selling Insurance in 2019
Over $2 billion is estimated to be invested throughout 2019 in InsureTech companies. Artificial Intelligence, Automation, and Blockchain are driving technology disruption in the insurance industry. They are making insurance shopping experience much better for consumers. Meanwhile also improving service for policyholders who need help with renewals, claims, and add-on products and services. This is… Continue reading Chatbots Using AI Are Selling Insurance in 2019
Insurance Companies Use Emerging Technologies and Business Models to Shake Up Competition
Led by insurtech disruptors, novel business models are causing disintermediation in the insurance industry and altering power dynamics. The rise of technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and smart devices is placing the spotlight on flexible services based on usage-based insurance, on-demand insurance and Prevention-as-a-Service models, which are redefining the role… Continue reading Insurance Companies Use Emerging Technologies and Business Models to Shake Up Competition
InsurTech Investment Doubles in Q3
More than $1.3 billion of InsurTech funding was completed during Q3 2018, double the figure from the previous quarter. While individual investment rounds were larger, the number of transactions reported declined 20% to 57, according to the new Quarterly InsurTech Briefing from Willis Towers Watson, the leading global advisory, broking and solutions company. Q3 saw… Continue reading InsurTech Investment Doubles in Q3
Erie Insurance Invests in Two Startups
Erie Insurance took another step toward securing a bright, vibrant future for Erie, Pennsylvania, by investing in two startup companies. Startups were part of the Erie Innovation District’s accelerator – Secure Erie Accelerator. A total of nine startups participated in the accelerator this past summer. Of the nine, Erie Insurance identified several for potential investment.… Continue reading Erie Insurance Invests in Two Startups
Lloyd’s Begins Search for Next Wave of InsurTech Innovators
Lloyd’s Lab, the innovator accelerator launched by the Lloyd’s market last September, is launching a new global search for the next cohort of InsurTech innovators. The programme targets entrepreneurs and start-ups able to develop products, platforms and processes that offer technology driven solutions to some of the challenges faced by Lloyd’s. With the first cohort’s… Continue reading Lloyd’s Begins Search for Next Wave of InsurTech Innovators
Insurance App Lemonade Prepares for European Expansion
Lemonade revealed plans to expand into the European market. The news marks the first international expansion for the AI-powered insurance app, which launched in New York City in 2016. The official announcement issued by the company is extremely light on details, with the promise to reveal more pertinent information — namely, which country will be… Continue reading Insurance App Lemonade Prepares for European Expansion
$2.6 Billion Investment in InsurTech Helps Drive Fintech Boom
The Insurtech M&A Market Report from international technology mergers and acquisitions advisors, Hampleton Partners, reveals that 2018 global fundraising for insurtech start-ups has already reached an all-time high in volume with 204 deals and transaction values of $2.6bn, close to the 2015 peak of $2.7bn. Since 2016 the insurtech sector has reported 151 transactions, with… Continue reading $2.6 Billion Investment in InsurTech Helps Drive Fintech Boom
FinTech Global Says Over $7B Invested in InsurTech Solution Providers Since 2015
The world’s most innovative providers of technology solutions for the global insurance industry have been announced on this year’s InsurTech 100 list. InsurTech (insurance technology) is one of the largest and most active sectors within the FinTech space. According to FinTech Global, over $7bn has been invested in InsurTech solution providers since 2015 as insurance… Continue reading FinTech Global Says Over $7B Invested in InsurTech Solution Providers Since 2015
Willis Towers Watson and Plug and Play Announce Global InsurTech Partnership
Willis Towers Watson, a leading global advisory, broking and solutions company, today announced an international InsurTech partnership with Plug and Play, a global innovation platform. This agreement expands upon the two companies existing partnership by extending Willis Towers Watson’s access to early stage InsurTech start-ups across all of Plug and Play’s InsurTech platforms, which include… Continue reading Willis Towers Watson and Plug and Play Announce Global InsurTech Partnership