On Monday, Root filed to go public, adding a second name to the Insurtech IPO rolls in 2020. Lemonade was first out the gate this summer, taking its rental and home insurance business public at an attractive valuation, compared to its revenues and margins as we traditionally understand them. Wall Street was enticed by its… Continue reading InsurTech Root Files IPO with SEC
Tag: Insurtech
Next Insurance to Seek $2.25 Billion Valuation in Funding Round
Next Insurance is in talks to raise new capital in a round that values the insurance technology startup at about $2.25 billion, according to people familiar with the matter. Alphabet Inc.’s CapitalG is in talks to lead the roughly $250 million funding round for the Palo Alto, California-based company, the people said, asking not to… Continue reading Next Insurance to Seek $2.25 Billion Valuation in Funding Round
ITC Global Moves Its Virtual Session to October 19-21
ITC Global announced today that it will now be taking place Monday, October 19 through Wednesday, October 21, instead of Monday, September 21-23. Following is the announcement: “Having already gone through the very difficult decision of moving our Las Vegas event from in-person to virtual, and having already spent the last several months at a… Continue reading ITC Global Moves Its Virtual Session to October 19-21
Lemonade CFO Promotes Do-Good Status, Path to Profitability to New Investors
Lemonade Inc.’s finance chief faces a peculiar challenge: explaining to new investors why a company that is not yet profitable is giving away money to charity. Customers signing up for one of Lemonade’s products—homeowners, renters or pet insurance—select a charity of their choice. The company then contributes a portion of unclaimed insurance premiums—$1.1 million in… Continue reading Lemonade CFO Promotes Do-Good Status, Path to Profitability to New Investors
Roper Technologies Buys Vertafore for $5.35 Billion
Roper Technologies, Inc., a leading diversified technology company, today announced that it has reached a definitive agreement to acquire Vertafore in an all-cash transaction valued at approximately $5.35 billion. “In Roper we have found a partner who shares both our vision and our values,” said Vertafore Chief Executive Officer Amy Zupon. “Their acquisition of Vertafore… Continue reading Roper Technologies Buys Vertafore for $5.35 Billion
Lloyd’s Lab Selects Ten New InsurTechs Focused on COVID-19 Risks
Lloyd’s, the world’s leading specialist insurance and reinsurance market, today announced its new cohort of InsurTech disruptors that will join the Lloyd’s Lab innovation accelerator programme, and includes start-ups who are focused on providing solutions to support the Market to respond to the COVID-19 pandemic. More than 140 applications were received from across the world… Continue reading Lloyd’s Lab Selects Ten New InsurTechs Focused on COVID-19 Risks
eMaxx Announces the Appointment of Eileen Currie to Lead Insurance Operations
eMaxx, a leading commercial property and casualty InsurTech, today announced that Eileen Currie has been appointed President / CEO of eMaxx’s insurance operating companies. Eileen Currie will lead the insurance operations in underwriting, client services, and distribution for its alternative risk captive insurance programs. “We are honored to have Eileen join eMaxx to serve as… Continue reading eMaxx Announces the Appointment of Eileen Currie to Lead Insurance Operations
Hippo Closes $150M Series E Funding Round
Hippo Enterprises, a Palo Alto, Calif.-based home insurtech company, closed a $150m Series E funding, valuing its business at $1.5 billion post-financing. Backers included new investors FinTLV, Ribbit Capital, Dragoneer and Innovius Capital and existing investors BOND, Comcast Ventures, Felicis Ventures, Fifth Wall, Horizons Ventures, ICONIQ Capital, Innovius Capital, Lennar Corporation, Pipeline Capital, Propel Venture… Continue reading Hippo Closes $150M Series E Funding Round
Lloyd’s Fast-Tracks Three New InsurTechs to Help Market Respond to COVID-19 Pandemic
Lloyd’s has started work with three new InsurTechs to help the Market respond to the COVID-19 pandemic. As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has reimagined and expanded the scope, process and timings for new applicants to the Lloyd’s Lab innovation accelerator. The purpose of this is to… Continue reading Lloyd’s Fast-Tracks Three New InsurTechs to Help Market Respond to COVID-19 Pandemic
InsurTech Lemonade Raises $319M for IPO
Insurtech Lemonade, backed by SoftBank, raised $319 million late Wednesday, which was more than expected. The New York startup sold 11 million shares at $29 each. This was above its $26 to $28 price range. Lemonade will trade Thursday on the New York Stock Exhange under the ticker LMND. Goldman Sachs, Morgan Stanley, Allen &… Continue reading InsurTech Lemonade Raises $319M for IPO