The global InsurTech sector has reached a new funding milestone, with more than $60 billion raised and invested since 2012, according to Gallagher Re’s latest Global InsurTech Report.
Tag: Insurtech
American InsurTech Council and InsurTech Association Form Strategic Alliance to Advance Insurance Technology
The American InsurTech Council and the InsurTech Association have announced the creation of a new strategic alliance to help shape the direction of how insurance carriers use AI and related digital technologies.
Turvi Launches, Set to Transform Insurtech with Advanced SaaS
A new player has officially entered the insurtech landscape: Turvi, a SaaS technology company backed by industry leader Crawford & Company, has launched with a mission to transform the insurance claims ecosystem.
Stock Market Crash Sends Shockwaves Through Insurtech Sector
The recent stock market crash has had a significant impact on insurtech companies, many of which are struggling to secure funding and maintain valuations. The downturn is leading to tighter financial conditions, forcing these startups to reassess their growth strategies and operational expenses.
FloodFlash Gets Munich Re Support to Expand Parametric Flood Product Across America
FloodFlash, a flood risk focused insurtech company that offers an innovative sensor-based approach to parametric flood insurance, has secured capacity support from reinsurance giant Munich Re’s Specialty division to enable it to expand its parametric flood product across America.
Prudential to Shut Down Assurance, the Insurtech Startup It Acquired for $2.35B in 2019
Insurance giant Prudential is shutting down Assurance IQ, five years after spending $2.35 billion to acquire the under-the-radar tech startup based in the Seattle region.
Lemonade Narrows Net Loss to $47.3M; Employee Count Down 11% as Premiums Rise
Insurtech Lemonade Inc. narrowed its first-quarter net loss to $47.3 million from $65.8 million a year earlier as artificial intelligence enabled its “relentless pursuit of automation at every stage,” the company said in a shareholder letter.
ReSource Pro Releases 300th Research Report for P&C Insurance Leaders
ReSource Pro, a leading strategic operations partner to insurance organizations, today released new primary research titled “The Future of Embedded Insurance: Disruptor or Distraction?,” marking the 300th report delivered to the P&C community via its research practice, ReSource Pro Insights.
Lemonade Narrows Quarterly Net Loss by 33%
Lemonade Inc. narrowed its fourth-quarter net income loss to $42.4 million from a net loss of $63.7 million a year earlier, the company said in a letter to shareholders.
Funding Dries Up for Insurance-Focused Fintech Startups
Startups using technology to shake up the insurance industry have generally failed to deliver for investors buying publicly traded shares.