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.
Amazon.com Inc. is to start offering insurance to small and medium-sized U.K. business customers, the technology giant's first foray into business insurance in the country, broker Superscript said Monday.
Insurtech company Cover Whale Insurance Solutions Inc., which focuses on commercial auto, said Monday it is partnering with insurtech Everspan Indemnity Insurance Co. in a trucking program.
The insurance industry has been an obvious target for digital transformation, with antiquated information technology stacks that still engage paper, phone and fax processes.
Restrictions on in-person collaboration during the COVID-19 pandemic do not seem to have stifled innovation in the insurance and risk management sector.
Financial technology companies from investment, lending and payment platforms to robo-advisers, insurtechs and cryptocurrency exchanges are taking root, as the pandemic has accelerated a shift to digital operations.
Insurtechs that specialize in cyber risk can take numerous paths with their future dependent at least in part on their investors patience but not all will survive, experts say.
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London-based claims management company Davies Group Ltd. said Wednesday it has acquired Asta Capital Ltd., a third-party Lloyds managing general agent.
Business Insurance on Thursday announced the winners of the 2021 Innovation Awards.
Cyber managing general underwriter Corvus Insurance Holdings Inc. said Thursday it has acquired Cambridge, Maryland-based SeQure Underwriters LLC, an insurtech managing general agency.
Global insurtech funding reached a record $7.4 billion in the first half of this year, exceeding full-year totals for any previous year, according to Willis Tower Watson PLC’s quarterly InsurTech Briefing released Thursday. There were 162 deals totaling more than $4.824 billion combined in the second quarter, a 210% increase in funding over the second […]
British drone insurer Flock has raised $17 million from investors in early-stage funding led by venture investor Chamath Palihapitiya's Social Capital, Flock said Thursday.
Global insurtech funding reached a record $7.4 billion in the first half of this year, exceeding full-year totals for any previous year, according to Willis Tower Watson PLCs quarterly InsurTech Briefing released Thursday.
Cyber insurance startup At-Bay Inc. said Tuesday it raised $185 million at a $1.35 billion valuation to expand its business as many in the cyber industry face growing losses due to ransomware attacks.
Insurtech brokerage Newfront Insurance Inc. said Thursday it has agreed to merge with established brokerage ABD Insurance and Financial Services Inc. Terms of the deal were not disclosed. San Mateo, California-based ABD is the 40th largest brokerage of U.S. business, with $112.5 million in 2020 brokerage revenue, according to Business Insurance’s latest ranking. The combined […]