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.
Tag: Insurtech
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.Â
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.
Arch Insurance Buys Insurtech Thimble
Arch Insurance today announced it has acquired Thimble, a leading insurtech platform for small business customers and agents.
Altai Ventures Launches $50M Fund to invest in Insurtechs
Early-stage VC firm Altai Ventures has launched a $53mn investment fund that will target startups in the insurtech and fintech space.
Global Insurtech Funding Stable: Gallagher Re
Investment in the global insurtech-sector in Q3 2022 was $2.35 billion.