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
Tag: Insurtech
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
Plenty of Money for Insurtechs, But Fewer New Entrants: Deloitte
Insurtech investment is likely to remain vigorous, but strategic, according to Deloitte’s newest report. The “Insurtech Entering its Second Wave” report, which includes data from the Venture Scanner database, finds that investors will shift their focus from new startups to established innovators and more mature firms. The tactical change may have appeared due to the… Continue reading Plenty of Money for Insurtechs, But Fewer New Entrants: Deloitte
Insurance Startups Have Raised Billions as Industry Players Fight Tech Disruptors
The once sleepy world of insurance has become the hot ticket for venture investors. Insurance technology companies have raised multiple billions of dollars in the past four years as venture capitalists finance industry disruptors and enabling technologies for established players to fend off new technology-based challengers. In the month since tech-enabled car insurance startup Root… Continue reading Insurance Startups Have Raised Billions as Industry Players Fight Tech Disruptors