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.
Tag: Insurtech
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.
Allstate, Allianz Invest $265 Million in Next Insurance
Allstate and Allianz are making a sizable bet on the digital transformation of the commercial insurance market with a $265 million strategic investment in Next Insurance, an insuretech startup focused on the small business market.
Insurtech Vesttoo Cites Reorganization Effort as It Resists Creditors’ Motion to Allow Liquidation
As it seeks support for a reorganization plan amid bankruptcy proceedings, insurtech Vesttoo Ltd. is resisting a motion by it creditors to put it into liquidation.
This Gen-Z Lemonade Might Sour
Shares in New York-based insurer Lemonade are trading around $14 after it reported a second-quarter net loss of $67 million earlier this month. Two years ago, they were briefly above $180. The company went public at $29 in 2020.
Automated Weather Insurance Could Offer Help in an Increasingly Hot World
A startup wants to help the insurance industry be more responsive to volatile weather and the widespread damage it can cause.
Insurtechs Have Yet to Transform Insurance Pricing As Touted
A generation of startups promised to transform the insurance industry with new types of data and algorithms to more accurately assess risk and price policies nearly a decade ago. So far, this has not occurred.
JPMorgan and Barclays Back $4.5B Insurance Tech Giant Wefox
German digital insurer Wefox said Wednesday it raised $110 million of fresh funding from backers including JPMorgan and Barclays.
Global Insurtech Funding Rises by 37.6% in Q1 2023: Gallagher Re
According to Gallagher Re’s latest Global InsurTech Report, insurtech funding rebounded strongly in the first quarter of 2023, with global investments reaching $1.39 billion.
Digital Insurance Market Policygenius to Be Acquired by Eldridge’s Zinnia
Online insurance marketplace Policygenius has agreed to be acquired by fellow digital insurance platform Zinnia, to create a tech-focused platform covering the full insurance process.