Hippo, the high-growth company that’s transforming home insurance and ownership, announced today that it has entered into a definitive agreement, pending regulatory approval, to acquire Spinnaker Insurance Company, a national property and casualty insurer licensed in 50 states and rated A- (Excellent) by A.M. Best Company. As part of the acquisition, Spinnaker will join Hippo’s… Continue reading Hippo Acquires Spinnaker Insurance Company
Tag: Insurtech
P&C Insurers Raise Digital Games as COVID-19 Elevates Customer Expectations, J.D. Power
Significant investments in direct-to-consumer website and mobile design have helped property and casualty (P&C) insurance companies improve their digital service and shopping experiences. According to the J.D. Power 2020 U.S. Insurance Digital Experience Study,SM released today, insurers have made across-the-board improvements in clarity of information, but many still struggle with the balance of too much… Continue reading P&C Insurers Raise Digital Games as COVID-19 Elevates Customer Expectations, J.D. Power
Sprout.ai Raises $2.5M to Speed Up Insurance Claims
Sprout.ai, an insurtech incubated at London’s Imperial College that is applying AI to insurance claims, has raised $2.5 million in additional seed funding. Leading the round is Amadeus Capital Partners, with participation from Playfair Capital, and Techstars. Founded in 2018, Sprout.ai has developed AI-based software that it says enables insurance claims to be settled within… Continue reading Sprout.ai Raises $2.5M to Speed Up Insurance Claims
Twelve New InsurTechs Selected to Join Lloyd’s Lab
Lloyd’s has selected twelve new InsurTech disruptors to join the global reinsurance market’s innovation accelerator, as part of Lloyd’s commitment to becoming the most technologically advanced insurance marketplace in the world. More than 190 applications were received from across the world for the fourth cohort of the Lloyd’s Lab, which starts on 27 April 2020.… Continue reading Twelve New InsurTechs Selected to Join Lloyd’s Lab
Swiss Re Announces a Strategic Alliance with Microsoft
Swiss Re and Microsoft Corp. announced today a strategic alliance to further advance insurance innovation and extend financial protection to more people globally. The centrepiece of the strategic alliance is the launch of Swiss Re’s Digital Market Center, which will help develop next-generation, large-scale tools to transform the way the insurance industry predicts and manages… Continue reading Swiss Re Announces a Strategic Alliance with Microsoft
KPMG: Insurtech Riding High in U.S.
KPMG’s latest Pulse of Fintech report finds insurtech investment in the U.S. rising, bucking wider fintech trends. According to the report, fintech investment in the U.S. hit a record $59.8 billion last year, which includes investments in mergers and acquisition, venture capital and private equity. Global fintech investment in 2019 decreased from the 2018 results,… Continue reading KPMG: Insurtech Riding High in U.S.
Verisk Expands Inspection Collaboration Tool, OneXperience, to Commercial Lines
Verisk, a leading data analytics provider, announced today the expansion of its new InsurTech solution OneXperience™ into commercial insurance. This expansion will enable agents and businesses to engage and closely collaborate with insurers by sharing video surveys of commercial properties in real time, helping insurers and their customers accelerate the underwriting process. “Commercial property insurers… Continue reading Verisk Expands Inspection Collaboration Tool, OneXperience, to Commercial Lines
Direct Online Small Commercial Insurance Market Poised to Grow to $12B by 2025: Novarica
Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, Direct Online Small Commercial Insurance: 2020 Update, research and advisory firm Novarica projects significant growth in the market as insuretechs and major carriers alike try to serve America’s 30 million… Continue reading Direct Online Small Commercial Insurance Market Poised to Grow to $12B by 2025: Novarica
The Zebra Raises $38.5M As the Insurance Marketplace Race Heats Up
Tuesday morning The Zebra, an Austin-based insurance marketplace startup, announced it has closed a $38.5 million Series C. Accel led the funding event, which was participated in by prior investors Silverton Partners, Ballast Point Ventures, and the company’s CEO Keith Melnick. Floodgate and Weatherford Capital also invested in the round. According to Melnick, the company… Continue reading The Zebra Raises $38.5M As the Insurance Marketplace Race Heats Up
Boost Insurance Expands Infrastructure-as-a-Service Platform with Suite of Breakthrough Products
Today, Boost Insurance (“Boost”) announced a $14 million Series A round of financing to expand its cutting edge infrastructure-as-a-service (IaaS) platform that is transforming the insurance industry. The round was co-led by Coatue and Greycroft, with participation from Tusk Venture Partners, Conversion Capital, and MetLife Chairman Glenn Hubbard. Existing investors Norwest Venture Partners and IA… Continue reading Boost Insurance Expands Infrastructure-as-a-Service Platform with Suite of Breakthrough Products