Insurtech

November 14, 2023 @ 6:38 pm By Omar Faridi  |  

Kin, the direct-to-consumer home insurance company built for every new normal, announced operating results through the third quarter “ended September 30, 2023.” Kin finished the third quarter of 2023 “with $77.8 million in gross written premium and $24.2 million in total revenue.” Kin’s operating income… Read More

November 10, 2023 @ 11:23 am By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the welcoming of its two millionth customer. The pace to achieve the second million customers “was 35% faster than the first million, which was achieved in late 2020, while premium… Read More

November 9, 2023 @ 10:43 pm By Omar Faridi  |  

The Travelers Companies, Inc. (NYSE: TRV) announced that it has agreed to acquire Corvus Insurance Holdings, Inc. for approximately $435 million. Founded in 2017, Corvus is an industry-leading cyber insurance managing general underwriter, “powered by proprietary technology.” Alan Schnitzer, Chairman and Chief Executive Officer of… Read More

November 9, 2023 @ 6:23 am By Omar Faridi  |  

International insurtech bolttech announced a preferred partnership with French entrepreneur Xavier Niel’s NJJ telecom Group (NJJ) in order “to provide device insurance for European mobile operators under its portfolio.” Both Salt and Monaco Telecom are dedicated “to providing their customers with sustainable and safe device… Read More

November 8, 2023 @ 12:16 pm By Omar Faridi  |  

Coterie Insurance, the partnership-focused insurtech MGA simplifying small business insurance, announced a new partnership with Five Sigma, a claims management platform designed to streamline claims handling. The two companies are committed to “delivering innovation to simplify the insurance process across the value chain.” Morgan Smith,… Read More

November 6, 2023 @ 9:52 am By Omar Faridi  |  

CyberCube, the market participant focused on cyber risk analytics, announced that Toa Re has licensed its Portfolio Manager platform in order “to support its cyber book and to achieve best practice risk management solutions.” Toa Re Europe is “a Swiss-licensed reinsurance company established in 2002… Read More

November 6, 2023 @ 9:13 am By Omar Faridi  |  

Digital bank Monzo has appointed Phoebe Chibuzo Hugh, the founder of digital insurance firm Brolly, in order to help the challenger bank with entering the insurance services sector. Hugh reportedly launched insurtech Brolly back in 2016 following a couple rounds of the incubator program Entrepreneur… Read More

November 5, 2023 @ 7:12 pm By Omar Faridi  |  

Global compliance technology solutions and services provider Sovos announced a partnership with EXL, a data analytics and digital operations and solutions company. This partnership combines Sovos‘ record of accomplishment “in delivering innovative tax software and compliance solutions with EXL’s expertise in consulting and servicing for… Read More

November 5, 2023 @ 4:45 pm By Omar Faridi  |  

Layr, an insurance tech company, closed a $10 million round of financing led by Cota Capital. The K Fund, HSCM Ventures, Sandbox Industries, and Flyover Capitalalso participated in the round. The company will use the funds from the investment round “to expand go-to-market operations and… Read More

November 5, 2023 @ 11:33 am By Omar Faridi  |  

Insurance core technology provider Socotra announced today that it is stepping into its role as a title sponsor of InsureTech Connect 2023 in Las Vegas “on the heels of growth of its operations.” The producer of intelligent solutions for the P&C, general, and life insurance… Read More

November 2, 2023 @ 12:03 pm By Omar Faridi  |  

wefox, the Berlin-based insurtech, is launching a new brand claim: “wefox Empowering Insurance”. The new brand claim defines the company’s unique position “as more than just an insurance company.” It paves the way for wefox to also “provide a wide range of tech-enabled insurance solutions.”… Read More

November 2, 2023 @ 11:45 am By Omar Faridi  |  

Carriers are prioritizing profitability, especially when it comes to fostering innovation, according to Insurance Operations in a Changing Industry, a study published today by Earnix, the global provider of intelligent, SaaS solutions for insurers and banks. The survey of 400 insurance executives “provides insight into… Read More

November 2, 2023 @ 8:39 am By Omar Faridi  |  

Cowbell, a provider of cyber insurance for small- and medium-sized enterprises (SMEs), today announced significant momentum and new financing on the heels of its top-grossing quarter and amid continued corporate growth. Cowbell’s new financing builds on its $148M raised to-date. Cowbell announced a new investment… Read More

November 1, 2023 @ 8:21 am By Omar Faridi  |  

NEXT Insurance, a technology-first small business insurer, announced its strategic partnership with Allstate that will combine the companies’ expertise in small business insurance to develop and “offer innovative and unique new products to a large underserved market, as well as a commitment to deepening its… Read More

October 31, 2023 @ 3:01 pm By Omar Faridi  |  

NEXT Insurance, a digital small business insurer, achieved a marked milestone in reaching 500,000 active small business customers. Throughout NEXT’s journey as a digital insurer, its commitment to the small business community has “remained paramount, driving all aspects of its continued product innovations, partnerships, and… Read More

October 30, 2023 @ 9:13 pm By Omar Faridi  |  

Shippo, the shipping platform for modern e-commerce, and Cover Genius, the insurtech for embedded protection, today announced a partnership to enhance the merchant experience with the launch of Shippo Total Protection, a solution that “provides merchants with comprehensive protection, global coverage and seamless claims handling.”… Read More

October 27, 2023 @ 4:50 pm By Omar Faridi  |  

Upfort, a cyber security and insurance platform, today announced it has raised $8 million in a Series A funding round led by SYN Ventures, “with participation of Eniac Ventures and Fika Ventures, which co-led Upfort’s seed round.” This investment round advances Upfort’s goal “to simplify… Read More

October 27, 2023 @ 10:27 am By Omar Faridi  |  

CoverForce, the insurance platform bringing streamlined comparisons and one-click buying to commercial insurance, emerged from stealth mode, “unveiling its comprehensive suite of products made specifically for agency networks, wholesalers, and software companies.” The company’s infrastructure and easy-to-integrate API aim “to provide digital access and one-stop… Read More

October 24, 2023 @ 9:29 am By Omar Faridi  |  

International insurtech bolttech announced its partnership with Three Sweden, an innovative telecommunications service provider based in Sweden, in order “to offer comprehensive device protection solutions to customers both online and in-store.” This strengthens bolttech’s existing collaboration “with CK Hutchison Holdings (CKHH), building on other key… Read More

October 21, 2023 @ 4:32 am By Omar Faridi  |  

Founders are discussing cyber insurance more than ever, with 83% talking to their investors and boards about cyber protection often or always — a 42% increase year-over-year. The report, titled “Cyber Risk Index: Startup Edition 2023” comes from Embroker, the digital platform making it simple… Read More