Celo, an app-based insurance provider, is now seeking £100,000 through its equity crowdfunding campaign on Crowdcube. The insurtech company reported that it is planning to offer insurance cover for motor vehicles, travel, health, and gadgets.
By Darrel Etherington for TechCrunch
Oscar Health, the startup run by Josh Kushner (yes, brother of Jared), has raised $165 million at a reported valuation of $3.2 billion, CNBC’s Christina Farr reports. The funding comes from Alphabet’s Capital G investment company and Verily life sciences corporation, Founders Fund and others. (more…)
By Insly,
Insly, a cloud-based insurance platform, announces an investment of € 2.2 million led by Concentric and Black Pearls VC. (more…)
By Accenture
Global investment in the insurance technology (insurtech) industry surged in 2017, with Europe emerging as a new insurtech hub outside the U.S., according to new research from Accenture (NYSE: ACN). (more…)
Prominent Insurtech firm Lemonade is having a pleasant Holiday season following the announcement they have raised $120 million to fuel platform growth. The funding round was led by SoftBank, a group that has been highly active in the Fintech sector. Valuation was rumored to be over $500 million. Lemonade last raised funding a year ago with a $34 million Series B led by General Catalyst and included the participation of GV (aka Google Ventures), Tusk Ventures and Thrive Capital. (more…)
By Steve O’Hear for TechCrunch
Insurance tech features on an increasing number of VC decks lately. On the surface at least, the insurance industry presents an almost perfect storm for disruption. (more…)
Insurdata, London-based insurtech firm that intelligently captures, enhances, scores and transfers high-resolution, peril-specific exposure and risk data, announced this week it has raised more than $1 million in seed financing from investors including Menlo Ventures, Anthemis Baloise Strategic Ventures and Plug and Play.
Covera Technologies Inc., a Canadian-based insurtech start-up that uses technology to find its customers optimal insurance rates every year, has raised $1 million through its seed financing round led by Ferst Capital Partners with participation from fintech angel investors. The latest funding round follows the company’s $500,000 pre-seed financing round and brings the total capital raised to $1.5 million.
Founded in 2016, Covera describes itself as a simple solution that pro-actively re-shops for insurance on the user’s behalf. The company stated: (more…)
Revolut users will now be able to insure their mobile phone for as little as £1.00 per week as the innovative fintech launches the first phase of its insurance offering. (more…)
by Matthew Lynley for Techcrunch
Talking about filling out a will and setting up life insurance is probably one of the more sensitive subjects you’ll tackle as you get older — but Dave Hanley says it’s something that a lot of people end up dodging altogether. (more…)
By Catherine Sho for Techcrunch
SoftBank Group has agreed to be a cornerstone investor in the initial public offering of ZhongAn, China’s first online-only insurance agency, on the Hong Kong Stock Exchange today. SoftBank Group will buy a 5 percent stake in the company, or about 72 million shares, at the offer price, which is in the range of HKD $53.70 to HKD $59.70 per share. If calculated based on the range’s mid-point price of HKD $56.70, that means SoftBank Group’s stake would be worth about HKD $4.08 billion, or $522 million. (more…)
by Sarah Buhr for Techcrunch
Oscar Health seems to be expanding rather than shrinking in the next year. Despite worries that the Affordable Care Act wasn’t working out for health insurance companies, Oscar has filed to expand in 2018, adding the states of Ohio and Tennessee, expanding in Texas and California and heading back to New Jersey, where it pulled out at the beginning of this year. (more…)
By Artjom Kartaschow for his blog
At least 10 teams in Germany are currently trying to build a new fully digital insurer. Among them are for example the startup Ottonova from Munich or the Finleap Venture Element. Other young tech companies secretly work on their ventures. (more…)
Oliver Wyman is out with a report on the emerging Insurtech sector. Oliver Wyman is a global management consultancy operating in 30 different countries. For this specific report, they partnered with Policen Direkt Group in Germany, an insurance technology firm. (more…)
By Paul Sawers for Venture Beat
Next Insurance, an online insurance platform that targets small to medium-sized businesses, has raised $29 million in a Series A round of funding led by Munich Re/HSB Ventures, Markel, and Nationwide, with participation from other existing investors. (more…)
By Jonathan Keane for TechEU
Israeli-founded online insurance company Next Insurance has raised $29 million from Munich Re/HSB Ventures with participation from Markel, and Nationwide. (more…)
Insurtech startup Singapore Life raised $50m in Series A funding. (more…)
As part of its Ventures activities, BearingPoint has invested in the Oslo-based start-up Tribe. (more…)
By Michael Tegos for Tech in Asia
Insurtech firm Singapore Life announced today it has raised a blockbuster US$50 million for its series A round. (more…)
BIMA, the InsurTech pioneer bringing microinsurance to underserved families in emerging markets, today announced the close of an investment of USD16.8 million by Axiata Digital, the digital services arm of Axiata Group Berhad (Axiata), one of Asia’s largest telecommunications groups. (more…)
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, today announced a strategic investment by Allianz, the world’s largest insurance company. (more…)
ByMuhammad Waqar Asghar for e.27
In Pakistan, insurance is now becoming even more accessible to the market, thanks to the ongoing digital transformation, which can help grow the industry and improve coverage for customers (more…)
2016 was all about InsurTech: cash flowed in, the incumbents sat up and took notice, and a slew of start-ups arrived on the scene to grab the insurance industry by the shoulders and give it a good shake. Now, as the hype subsides, FinTech Futures have launched InsurTech Bytes podcast series, inviting John Egan, strategy practice lead at Anthemis, Dan Smith, Managing Partner at Exponential Ventures, and Jannat Shah, Associate at AXA Strategic Ventures to chew the fat on all things InsurTech: where’s the smart money heading? Why should the big players partner with start-ups? What effect is Brexit having on InsurTech VCs? (more…)
