Insurtech
The insurtech sector is well-positioned despite second-quarter data showing a year-over-year decline in funding, but companies may need to refine their strategies, according to speakers and attendees at the InsureTech Connect conference in Las Vegas last week.
The insurtech sector is well-positioned despite second-quarter data showing a year-over-year decline in funding, but companies may need to refine their strategies, according to speakers and attendees at the InsureTech Connect conference in Las Vegas last week.
An insurtech revolution that started with intentions to wrest business from long-standing incumbents has morphed into more of a collaboration between technology upstarts and established companies.
An insurtech revolution that started with intentions to wrest business from long-standing incumbents has morphed into more of a collaboration between technology upstarts and established companies.
Growth and change were key topics of discussion Tuesday morning at the 2022 InsureTech Connect conference, as speakers mused about the ways technology has influenced the commercial insurance sector.
Bermuda-based insurer and reinsurer SiriusPoint Ltd. said Wednesday it has teamed with Insurate, a newly launched insurtech managing general agent to offer workers compensation insurance to companies with above-average safety performance.
Pie Insurance, an insurtech specializing in workers compensation insurance for small businesses, said Wednesday it raised $315 million from investors to fund its growth and expansion into new lines of business.
Bermuda-based insurer and reinsurer SiriusPoint Ltd. said Wednesday it has teamed with Insurate, a newly launched insurtech managing general agent to offer workers compensation insurance to companies with above-average safety performance.
Global investment in insurance technology companies totaled $2.41 billion in the second quarter, down 50% from the year-earlier period, as investors grew nervous about frothy valuations, broker Gallagher Re said in a report released Thursday.
Global investment in insurance technology companies totaled $2.41 billion in the second quarter, down 50% from the year-earlier period, as investors grew nervous about frothy valuations, broker Gallagher Re said in a report released Thursday.
Climate-focused insurtech company FutureProof on Monday said former Lexington Specialty Insurance Agency executive Joseph Strickland has joined the company as head of underwriting.
New York-based insurtech Kalepa Corp. said Monday it is introducing a managing general agency, Kalepa Insurance Services, with capacity provided by units of Ambac Financial Group Inc.
Allianz SE said Thursday it has started a multiyear partnership with insurtech Coalition Inc., a managing general agent specializing in cyber risk.
Amwins Group Inc. said Tuesday it is partnering with FusionMGA, a Kansas City, Kansas, cyber insurtech managing general agent, to provide cyber liability coverage for accounts without minimum security controls in place.
Jason Mezyk, former vice president of risk and insurance at Revantage Corporate Services, a Blackstone Inc. unit, has joined RiskRelease, an insurtech focused on coverage of multifamily real estate units, as CEO.
Newfront Insurance Inc. said Thursday it had hired former Marsh McLennan Agency principal Jeff Simpson as a senior vice president.
Due to multiple requests for more time, Business Insurance on Friday extended the deadline to submit nominations for the Business Insurance 2022 Innovation Awards to May 20.
Technology investment in the insurance sector continued at a record pace last year, with two recent reports showing insurtech funding breaking records.
Funding for insurtech companies reached $19.8 billion in 2021, up 176% from the prior year, according to a report Friday from research firm Forrester Research Inc.
Insurtech Foxquilt Insurance Services Inc. said Tuesday it has introduced an e-commerce insurance product for small businesses in Canada.
Insurtech brokerage Newfront Insurance Inc. said Tuesday it has raised $200 million, giving it a $2.2 billion valuation.
Private equity firm Thomas H. Lee Partners L.P. has taken a majority stake in Carpe Data, an insurtech providing data services to insurers, the companies announced Monday.
Markd VC LLC, a Boulder, Colorado-based venture capital firm devoted to the insurtech sector, said Thursday it has closed its $100 million debut fund.