IA Capital-backed insurance loyalty platform Marble launchedMarble Pay, an insurtech that bills itself as the “first and only loyalty programme for insurance”, has been launched with support from IA Capital.
Lloyd’s Lab assigns Covid-19 focused fifth cohortLloyd’s has named the fifth cohort of insurtech firms to join the Lloyd’s Lab innovation accelerator programme, including start-ups who are focused on providing solutions to support the market’s response to the Covid-19 pandemic.
HCI share price soars 27% after revealing ambitious growth plansInvestors have sent HCI’s share price soaring after the carrier reported strong growth in second quarter premiums and hyped the potential of its insurtech subsidiary TypTap.
Duck Creek targets up to $315mn as prices IPOProperty casualty software provider Duck Creek has priced its initial public offering of 15mn shares of common stock at between $19 and $21 a share.
Bold Penguin projects doubling in size in 2020, hires CFOBold Penguin has named former KPMG auditor Dan Gifford as its chief financial officer, and projected the commercial insurtech will double in size in 2020.
Insurtech eMaxx engages Stonybrook Capital to realise carrier ambition; makes senior insurance hireCommercial property and casualty insurtech eMaxx has appointed Eileen Currie as president and CEO of its insurance operating companies as it prepares to become a full stack insurtech insurance company, The Insurer can reveal.
HCI’s TypTap targets $5bn revenues by 2030 with nationwide expansionHCI’s Florida-focused homeowners and flood insurtech TypTap Insurance has announced plans to expand nationwide, with a goal to generate $5bn in revenue by 2030.
Branch’s BIX closer to launch after regulatory registration and Demotech ratingHome and auto insurtech Branch has moved a step closer to writing business on its reciprocal exchange after the platform was registered with regulators in its home state of Ohio and received a financial strength rating from Demotech.
SkyKnight builds out insurance portfolio with Patra strategic investmentPrivate equity firm SkyKnight Capital has continued to expand its (re)insurance industry portfolio through a strategic investment in technology-solutions provider Patra.
Atlas Financial to reduce staff up to 40% following new Buckle dealCommercial auto insurer Atlas Financial Holdings has revealed that steps to reduce expenses as part of its transition to an MGA include laying off or furloughing 30 percent to 40 percent of its staff, following an agreement to sell two more indirect subsidiaries to insurtech Buckle.
Buckle raises $31mn in series A round co-led by HSCM and EosBuckle has raised $31mn in a series A funding round co-led by HSCM Bermuda and venture capital firm Eos Venture Partners, with the rideshare insurtech also continuing to build out its insurance balance sheet capabilities with a deal to buy two more Atlas subsidiaries.
Aon insurtech CoverWallet unveils new digital cover for start-upsCoverWallet, the US digital insurance platform acquired by Aon last year, has unveiled a new product focussed on VC-backed start-ups.
Is the end nigh for the term ‘insurtech’?Willis Towers Watson’s latest quarterly insurtech briefing included a provocative suggestion: is it time to stop labelling companies as insurtechs?
Acrisure buys Tulco’s AI insurance business to deploy insurtech at scaleFast growing intermediary platform Acrisure has bought artificial intelligence (AI) specialist Tulco’s insurance practice in a move it says will allow it to bring best-in-class data science, AI and machine learning capabilities to the insurance brokerage industry.
Jupiter welcomes new funds from Liberty Mutual and returning investor MS&ADData and analytics insurtech Jupiter Intelligence has raised additional capital from Liberty Mutual and MS&AD as the platform looks to expand its operations and push on with its product development to enable at-risk infrastructure to get a better understanding of the possible implications they face from climate change.
Phinsys adds Moore and Toran to management teamLloyd’s Lab participant Phinsys has continued to scale up its operations with the addition of William Moore and Michael Toran to its senior management team.
Q2 insurtech funding surges 71% over Covid-hit Q1: WTWInsurtech funding rebounded strongly in the second quarter but deal count was significantly down, as investors shunned seed and angel deals in favour of supporting later-stage fundraisings, according to Willis Towers Watson.
Lemonade shares drop 6.4% after analyst says it is overpricedLemonade’s share price fell 6.4 percent to close at $73.00 in trading Monday after analysts initiated coverage on the renters insurtech with a wide range of expectations, including Goldman Sachs analyst Heath Terry slapping it with a sell rating and $44 price target.
Duck Creek targets $200mn IPOP&C software provider Duck Creek has set out plans to raise up to $200mn in an initial public offering (IPO).
Auto insurtech Claim Genius raises $5.5mn in series A roundClaim Genius, an insurtech offering vehicle damage assessment solutions using AI, has closed $5.5mn in a series A funding round, following a $2.3mn seed round in 2018.