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
Tag: Insurtech
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
Insurance Startup Lemonade Plans to Raise $286M in IPO
Tech-driven insurance startup Lemonade Inc said on Thursday it was looking to raise up to $286 million in its U.S. initial public offering (IPO). The company intends to sell 11 million shares in the IPO, and has set a target range of $23-$26 apiece, according to a regulatory filing here The higher end of the… Continue reading Insurance Startup Lemonade Plans to Raise $286M in IPO
Hippo Acquires Spinnaker Insurance Company
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
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.