SURE, an insurtech startup and the developer of the world’s first on-demand insurance app powered by artificial intelligence, announced today it has raised additional $12.5 million in a Series B funding. The round was led by W. R. Berkley Corporation, an insurance holding company that is among the largest specialty commercial writers in the United… Continue reading Insurtech Startup SURE Secures Additional $12.5M in Funding
Tag: Insurtech
Insurance Startup Lemonade Expands into Europe
Lemonade, the insurance company that’s raised $780 million, is today expanding into Europe with the launch of Lemonade in Germany. As part of the launch, Lemonade is officially unveiling Policy 2.0, a simplified and easy-to-understand version of its renters and home owners insurance, to the European market. Lemonade launched back in 2015 with a brand… Continue reading Insurance Startup Lemonade Expands into Europe
How Lemonade, A Millennial-Loved Fintech Unicorn, Is Disrupting the Insurance Business: Forbes
In the summer of 2017, a Los Angeles man in his mid-20s put on a necklace, blond wig and makeup and made a cellphone video describing how his camera and other electronics had been stolen. He submitted the video to his renters insurance provider, Lemonade, which paid the $677 claim in two days. Three months… Continue reading How Lemonade, A Millennial-Loved Fintech Unicorn, Is Disrupting the Insurance Business: Forbes
Lemonade Raises $300 Million to Fuel Expansion
Tech-driven insurance startup Lemonade Inc has signed a $300 million funding round led by Japan’s SoftBank Group Corp , the company said on Thursday. Other investors included insurer Allianz SE, Alphabet Inc’s venture capital arm GV, General Catalyst, OurCrowd and Thrive Capital. The company will use the funds to expand in the United States, launch… Continue reading Lemonade Raises $300 Million to Fuel Expansion
Trends in Online Insurance Purchasing Habits Point to Enhanced Opportunity for Agents and Brokers
A new survey from Chubb, “Winning the New Client Journey,” finds that more than half of consumers (53%) have shopped online for homeowners insurance in the past 12 months, and 61% are likely to do so in the future. According to Chubb, this trend in researching and shopping online underscores an enormous opportunity for agents… Continue reading Trends in Online Insurance Purchasing Habits Point to Enhanced Opportunity for Agents and Brokers
InsurTech Investment by Reinsurers Rises as New Tools are Developed to Manage Cyber Risk
Sixty-three InsurTech deals with a total value of $1.59 billion were announced world-wide in Q4, 2018, up 24% and 155% respectively over Q4, 2017. The total, including all-stage investments in property/casualty and life & health ventures, is the second-highest ever behind the exceptional second quarter of 2015, according to the new Quarterly InsurTech Briefing from… Continue reading InsurTech Investment by Reinsurers Rises as New Tools are Developed to Manage Cyber Risk
Allianz Boosts Tech, Insurance Investments to $1.1 Billion
European insurer Allianz SE is increasing the size of its tech investment fund to 1 billion euros ($1.1 billion), making it one of the largest corporate-backed venture funds in Europe. Allianz X was launched in 2016 with a 430 million-euro checkbook and has done about 15 deals, including an investment in Indonesian ride-hailing firm Go-Jek,… Continue reading Allianz Boosts Tech, Insurance Investments to $1.1 Billion
Cohen & Co. Targets Reinsurance & Insurtech Acquisitions
Cohen & Company, LLC, a fixed income financial services specialist with over $3 billion under management, is seeking to raise capital for what is termed a blank check company that will target acquisitions in the insurance, reinsurance and insurtech space under the leadership of John Butler. Cohen & Company hired John Butler as Managing Director… Continue reading Cohen & Co. Targets Reinsurance & Insurtech Acquisitions
InsurTech Socotra Raises Additional $5.2 Million Funding with Insurers Nationwide and Mitsui Sumitomo
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
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