InsurTech and innovation

HSCM public insurtech index down 8% this year after surging in 2020

Hudson Structured Capital Management (HSCM) has created an insurtech index to measure the sector’s performance in public markets, with the index down 8 percent so far this year after rising 75 percent in 2020.

Canadian insurtech Apollo secures Lloyd’s coverholder status

Canadian small business and personal lines-focused insurtech Apollo Insurance Solutions has secured Lloyd’s coverholder status, with the platform readying several products that will be unveiled in the coming months with support from its new syndicate partner.

Insurtech unicorn production line looks strong but are valuations rational?

Two insurtechs attained unicorn status in Q1 and there were more additions to this growing club this month, with observers suggesting there are plenty more insurtechs on the production line that will make the grade this year either through new funding rounds or SPAC combinations.

HDI’s VC arm backs Safehub’s $9mn Series A round

HDI Group’s venture capital arm Hannover Digital Investments GmbH has backed Safehub, a San Francisco-based start-up specialising in sensor-driven data analysis.

WTW: Insurtech investment hits quarterly record of $2.55bn in Q1

Global investment in the insurtech sector reached a new quarterly high of $2.55bn during the first three months of 2021, according to the latest insurtech briefing from Willis Towers Watson (WTW), with the quarter notable for a trend of mega-rounds moving earlier in the funding cycle.

AmFam insurtech spin-out Arturo closes $25mn B round

Arturo – an AI-powered property analytics platform spun out of American Family in 2018 – has raised $25mn in a Series B funding round led by Atlantic Bridge Capital, with participation from RPS Ventures and existing investors Crosslink Capital and IAG Firemark Ventures.

Vault appoints Ross CIO as expansion continues

Vault Holdings has named Robert Ross chief information officer as the high net worth specialist continues to expand following its change of ownership last year.

Insurtech Qover raises $25mn in Series B round

Brussels-based insurtech start-up Qover has raised $25mn in a Series B funding round led by Prime Ventures and supported by Cathay Innovation.

Shah-led insurtech Archipelago raises $34mn in Series B round

Archipelago has raised $34mn in a Series B round led by Scale Venture Partners, bringing total funding to over $55mn for the Hemant Shah-led property risk-focused technology and data analytics company.

Amwins partners with MGA Loadsure on per-load cargo insurance

Amwins Specialty Logistics Underwriters (ASLU) has partnered with London-based insurtech MGA Loadsure to provide per-load cargo insurance to the US freight industry.

Broker Hubb appoints former Munich Re Digital Partners CEO Rear as chair

Usage-based commercial insurance broker Hubb has named former Munich Re Digital Partners CEO Andrew Rear as chairman.

Insurify partners with Toyota on auto comparison product

Insurify is partnering with Toyota Insurance Management Solutions (TIMS) to provide vehicle owners with a way to compare and buy car insurance policies online.

Next adds commercial property to product offerings

Next Insurance has entered the commercial property market in a move the company said is “the final step” in its bid to offer “full comprehensive coverage” through its platform.

Greenlight Re invests in amateur sports MGU

Cayman Islands-based carrier Greenlight Re has invested an undisclosed sum in Player’s Health, a managing general underwriter that provides insurance and risk management services to the amateur sports organisation market.

SynchronoSure names ex-Aspen exec Seib as CUO

Steve Hartman-led insurtech SynchronoSure has appointed former Aspen head of excess casualty Lorraine Seib as its chief underwriting officer.

FCA planning regulatory “nursery” for fintechs

The UK’s City regulator is developing plans for a “regulatory nursery” to support firms post-authorisation, and will also launch a digital sandbox targeted at fintech and insurtech firms developing solutions to improve financial market infrastructure.

Lemonade to enter US auto market by year-end

Lemonade has announced plans to begin underwriting auto insurance policies by the end of the year as the fast-growing insurtech looks to target the $300bn segment of the US market.

Insurtech Kin surpasses $100m in annual recurring premium

US homeowners insurtech Kin Insurance has surpassed $100mn in annual recurring premium.

Lloyd’s Lab puts focus on product simplification as it unveils latest cohort

Eleven insurtech start-ups have been selected to join the sixth cohort of the Lloyd’s Lab accelerator programme, which will focus on climate change and decarbonisation as one of its key themes.

Aquiline-backed FRISS buys commercial lines data insurtech Terrene

FRISS – an Aquiline-backed company that provides fraud, risk and compliance solutions for P&C insurance carriers – has acquired fellow insurtech Terrene Labs.

Region

Topics

Events & Conferences

Content Types