Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced it is readying ‘Lemonade Car’ for launch within the year. Early registration is now open at www.lemonade.com/car. Today’s news marks the company’s third expansion into a major new insurance category in less than 12 months. The company started with homeowners products, adding pet… Continue reading Lemonade Opens Early Registration for Lemonade Car
Tag: Insurtech
Insurance Startup Clearcover Raises $200M from Eldridge, Others at $1B Valuation
Clearcover has raised $200 million in fresh capital as part of a late-stage financing round led by Eldridge, the investment firm helmed by Los Angeles Dodgers owner Todd Boehly, the digital car-insurance startup will announce on Tuesday. In a statement seen by Reuters ahead of the announcement, Chicago-based Clearcover did not comment on its valuation,… Continue reading Insurance Startup Clearcover Raises $200M from Eldridge, Others at $1B Valuation
K2 Insurance Services Acquires Loss Run Pro
K2 Insurance Services is pleased to announce that it has recently invested in Loss Run Pro, LLC. Headquartered in Missoula, MT, LRP is an Insurtech that was founded in early 2020 by Reghan Brandt. Since its founding, the company has gained nationwide recognition, attracting a broad range of retail brokers to its platform. K2 Insurance… Continue reading K2 Insurance Services Acquires Loss Run Pro
Reliance Global Group Adds Travelers, Nationwide to Its 5MinuteInsure.com Platform
Reliance Global Group, Inc., an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced its subsidiary, Fortman Insurance Services LLC, has been approved to offer Travelers and Nationwide insurance products nationally through the Company’s 5MinuteInsure.com platform. Reliance plans to initially focus on home and auto insurance,… Continue reading Reliance Global Group Adds Travelers, Nationwide to Its 5MinuteInsure.com Platform
Hippo to Go Public in $5B Merger with Mark Pincus, Reid Hoffman-Backed SPAC
Hippo Enterprises will go public through a $5 billion merger with a blank-check firm backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a sign of rising interest in the fast-growing “insurtech” sector. The deal, announced on Thursday, comes when the COVID-19 pandemic has forced the insurance sector to rely heavily on technology… Continue reading Hippo to Go Public in $5B Merger with Mark Pincus, Reid Hoffman-Backed SPAC
Homeowners & Flood InsurTech Company TypTap Raises $100 Million
HCI Group, Inc. subsidiary corporation, TypTap Insurance Group, Inc., is pleased to announce that a fund affiliated with Centerbridge Partners, L.P. has invested $100 million in the company. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million. TypTap is an InsurTech company. Its rapidly growing, technology driven… Continue reading Homeowners & Flood InsurTech Company TypTap Raises $100 Million
Commercial Insurtech Bold Penguin Joins American Family
Madison, Wisconsin-based American Family Insurance Mutual Holding Company (American Family) today continued its innovative and collaborative approach to serving customers, this time focusing on small businesses with the acquisition of Insurtech company Bold Penguin. Bold Penguin, based in Columbus, Ohio, is a technology company that simplifies and quickens the often complicated and time-consuming process of… Continue reading Commercial Insurtech Bold Penguin Joins American Family
Tech Startups Want to Sell You Their Life Insurance
Technology startups are ready to challenge traditional life insurers head on. Bestow Inc. and Dayforward Inc. are making the leap to become life-insurance carriers, a move away from a model where startups only sell traditional insurers’ policies. The companies are banking on their versions of online technology for sizing up the risk of insurance applicants… Continue reading Tech Startups Want to Sell You Their Life Insurance
InsurTech Lemonade Posts Q3 Loss
Lemonade Inc. reported a third-quarter net loss of $30.9 million, or a loss of 57 cents per share, compared with a net loss of $31.1 million, or a loss of $2.78 per share, in the prior-year quarter. The company attributed the improvement in net loss to operating expense efficiencies, which offset the reduction in revenue… Continue reading InsurTech Lemonade Posts Q3 Loss
Root Insurance Aims to Show It’s A Different Kind of Insurer with Bubba Wallace Ad
One of the few drivers that people who don’t follow NASCAR can name is Bubba Wallace, and he’s never even won a major race. Of course, he is one of the best up-and-coming drivers in the country, a young, magnetic sports star. But it’s off the track where Wallace has really grabbed headlines, primarily for… Continue reading Root Insurance Aims to Show It’s A Different Kind of Insurer with Bubba Wallace Ad