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
Tag: Insurtech
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
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