Total new worldwide funding commitments to the InsurTech sector in 2019 were $6.37 billion, 33.9% of the historical total, following a record-breaking $1.99 billion of investment in 75 projects during Q4 2019, according to the new Quarterly InsurTech Briefing from Willis Towers Watson, a leading global advisory, broking and solutions company. During the year, eight… Continue reading 2019 InsurTech Investment Reaches All-Time High at $6.37B
Tag: Insurtech
Insurtech Bold Penguin Announces Acquisition of xagent to Better Serve Commercial Insurance Market
Bold Penguin today announced its acquisition of xagent, an independent, multi-quote platform for standard and surplus lines business insurance market. This acquisition will enable Bold Penguin to better serve Insurance Carriers, Brokers and Agents through increased scale and a single choice in the market, while maintaining its commitment to simplifying the commercial insurance process. The… Continue reading Insurtech Bold Penguin Announces Acquisition of xagent to Better Serve Commercial Insurance Market
Commercial Insurtech Juniper Labs Announces Open Data Launch at Plug and Play Winter Summit
Automated underwriting insurtech company Juniper Labs announced that it is launching the first-ever open-sourced dataset purpose-built for commercial insurance. Juniper Labs plans to release over 40 million business records it acquired to train its underwriting models for anyone to use. Commercial carriers can use this data to verify an applicant’s information, supplement their own datasets… Continue reading Commercial Insurtech Juniper Labs Announces Open Data Launch at Plug and Play Winter Summit
Next Insurance Hires Former Fitbit and Yelp Executives
Next Insurance, the leading digital insurtech company transforming small business insurance, today announced the appointment of former Fitbit executive Melanie Chase as Chief Marketing Officer and former Yelp executive Effi Fuks Leichtag as Chief Product Officer. Next Insurance provides digital small business insurance coverage across the US and is upending the traditional industry model by… Continue reading Next Insurance Hires Former Fitbit and Yelp Executives
2019 InsurTech Investment Already Ahead of 2018 Total
Total new worldwide funding commitments to the InsurTech sector in 2019 have already surpassed the 2018 full-year total, and during the third quarter exceeded $1.2 billion for the fifth consecutive quarter-year period, according to the new Quarterly InsurTech Briefing from Willis Towers Watson, a leading global advisory, broking and solutions company. 83 deals with a… Continue reading 2019 InsurTech Investment Already Ahead of 2018 Total
Reinsurers Discuss Embracing Insurance 4.0 at Baden-Baden Conference
At a symposium hosted by reinsurance brokerage Guy Carpenter at this year’s Baden-Baden conference, senior re/insurance figures provided a range of insights into the industry’s readiness to adapt and harness the benefits inherent to the tech-driven Industry 4.0. With the needs of clients in constant flux and business efficiency and interconnectedness evolving faster than ever… Continue reading Reinsurers Discuss Embracing Insurance 4.0 at Baden-Baden Conference
Next Insurance Raises $250 Million from Munich Re
Reinsurance company Munich Re AG has invested $250 million in Next Insurance Inc. in a funding round that valued the small-business insurance provider at more than $1 billion. Munich Re was the sole investor in the Palo Alto, Calif.-based company’s Series C round. Next Insurance offers general liability, professional liability, workers’ compensation and other types… Continue reading Next Insurance Raises $250 Million from Munich Re
Zurich Launches Second Edition of Its Worldwide Startup Competition
Applications are open for Zurich Insurance Group’s Innovation Championship, offering startups the opportunity to work with the global insurer to grow their business. Zurich is looking for startups with bold ideas in a broad range of application fields. In its second year, the global contest is looking for established startups with commercially viable technologies and… Continue reading Zurich Launches Second Edition of Its Worldwide Startup Competition
Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors: J.D. Power Finds
Nearly three-fourths (74%) of homeowners insurance customers believe the industry needs improvement, with 13% of customers indicating that “radical improvement is needed,” according to the J.D. Power 2019 U.S. Home Insurance Study.SM The study also finds that overall customer satisfaction with home insurance has declined for the first time since 2015, creating an opportunity for… Continue reading Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors: J.D. Power Finds
Root Insurance Raises $350M in Series E Funding, Led by Coatue and DST Global
Root Insurance, the largest property casualty InsurTech in the country, announced today $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional $100 million in debt financing. This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional… Continue reading Root Insurance Raises $350M in Series E Funding, Led by Coatue and DST Global