#InsurTech / Venture fund FinTLV raises $120 million to hunt for the next insurtech unicorns

FinTLV will invest in the next wave of growth-stage insurtechs following its successful backing of unicorns in 2020. FinTLV will likely focus funds on insurtechs embedding their offering into partners’ platforms and insurtechs that tackle coverage gaps. Embedded insurance, in which nonfinancial firms integrate insurance products, will be a major insurtech trend of the nextContinue reading “#InsurTech / Venture fund FinTLV raises $120 million to hunt for the next insurtech unicorns”

#BNPL #InsurTech / Buy now, pay later and insurtech saw increase in funding

Globally “buy now, pay later” (BNPL) fintech startups raised record funding in 2020 and insurtech companies saw a big bump in fundraising in the second half of 2020. Alex Kern, intelligence analyst at CB Insights said he was surprised to see how much fundraising and deal activity was occurring in the BNPL industry because whenContinue reading “#BNPL #InsurTech / Buy now, pay later and insurtech saw increase in funding”

#InsurTech / Rhino raises $95m to support US renters

Rhino’s security deposit insurance acts as a “direct replacement” for a cash security deposit. Renters pay the firm monthly fees to insure their landlord’s property for damages and lost rent. The firm claims it has tripled in size to more than 100 employees. It says its policies cover one million homes in the US, andContinue reading “#InsurTech / Rhino raises $95m to support US renters”

#InsurTech / Update 2021: Five trends that will shape Insurance sector

1. Insurers without agile tech will not be winning any prizes in 2021 … Spending money on “point-in-time” systems which solely address today’s business problems, without consideration of what may come tomorrow, without warning, is the strategy of insurers who will not survive much beyond 2021. 2. Out with the old, in with the newContinue reading “#InsurTech / Update 2021: Five trends that will shape Insurance sector”

#InsurTech / TONI Digital launches new insurance-as-a-service platform on Socotra’s cloud-native core

TONI Digital has developed an insurance-as-a-service solution enabling large corporations to quickly enter the insurance market, generate revenue, and leverage existing brand and customer bases. Built on Socotra’s agile core platform, TONI Digital’s new proprietary insurtech service will be able to automate all aspects of the insurance life-cycle. It will offer highly competitive insurance premiumsContinue reading “#InsurTech / TONI Digital launches new insurance-as-a-service platform on Socotra’s cloud-native core”

#InsurTech / Digital Car Insurer Metromile To Go Public Through Merger With INSU II

Under the deal, INSU II will combine with Metromile for approximately $842 million in INSU II Class A common stock, up to $30 million in cash and an additional 10 million Class A shares if certain price targets are met. The combined company, to be led by Metromile CEO Dan Preston, will have a proContinue reading “#InsurTech / Digital Car Insurer Metromile To Go Public Through Merger With INSU II”

#InsurTech / Insurtech startup Novidea raises $15 million in series B round

[CEO:] “We’re seeing a growing demand in the world for a smart platform that translates insurance data into business insights in real-time, advanced analytic capabilities and information that users can act upon.” Israeli insurtech company Novidea, which has developed a system to help improve the efficiency of brokers and agents, has raised $15 million inContinue reading “#InsurTech / Insurtech startup Novidea raises $15 million in series B round”

#PropTech #InsurTech / Hippo, home insurtech startup, secures $350 million capital investment

Hippo, a startup focused on providing home insurance digitally, has secured a $350 million capital investment from Mitsui Sumitomo Insurance Company. Hippo and Mitsui Sumitomo Insurance Company plan to sign a reinsurance treaty where Mitsui Sumitomo will take on a “portion of risk” to support Hippo. Wand explained that Hippo has a treaty with aboutContinue reading “#PropTech #InsurTech / Hippo, home insurtech startup, secures $350 million capital investment”

#InsurTech / Kiwi founder rolls out insurance analytics firm Pilotbird

New York-based insurtech startup Kiwi founder Evgeny Aleksandrov has introduced a new lifestyle analytics solutions firm, dubbed Pilotbird. The new company is designed to offer risk scoring, customer acquisition, and claims verification services for property and casualty (P&C) and life insurance firms via leveraged social data. [Evgeny Aleksandrov:] “We can provide carriers with risk andContinue reading “#InsurTech / Kiwi founder rolls out insurance analytics firm Pilotbird”

#InsurTech / Metromile Launches Ride Along to Demystify Pay-Per-Mile Car Insurance

Metromile, the leading pay-per-mile car insurance company in the U.S., today announced the launch of Ride Along, a free new way for drivers to understand if their driving can result in a lower car insurance rate before they sign up. More than 124 million Americans could be overpaying for car insurance, missing out on asContinue reading “#InsurTech / Metromile Launches Ride Along to Demystify Pay-Per-Mile Car Insurance”