SaaS insurtech-platform Liberate raised $7mn led by Eclipse
Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7mn in funding
InsurTech News
Fintech Papara launch of pet insurance in Turkey
Papara, the market-leading Turkish fintech, today announces the launch of pet insurance product to users in Turkey
Swiss Re’s digital B2B2C insurer iptiQ and SunLife launch an life insurance for UK
SunLife, part of Phoenix Group, and iptiQ, Swiss Re’s digital B2B2C insurer launch an innovative life insurance product for UK-based customers aged 50 years and above
Austrian insurtech Hi:health raised €6 mn in a pre-Series A financing
Vienna-based insurtech “Hi.health” raised €6 mn in a pre-Series A financing round led by existing investors SpeedInvest and Calm/Storm
Insurtech Hippo Insurance placed of reinsurance program’ 2023
Insurtech Hippo Insurance has placed of its reinsurance program for the 2023 year, which includes a 32% rise in per-occurrence excess of loss (XoL) limit
Insurtech Joyn secured a $17.7 mn Series A funding led by OMERS Ventures
Insurtech Joyn Insurance has announced it exceeded its target with a $17.7 mn Series A funding round led by OMERS Ventures, with participation from SiriusPoint
InsurTech MGA Loadsure received capacity from insurer Tokio Marine Kiln
InsurTech MGA Loadsure has received capacity baking from leading specialist international insurer Tokio Marine Kiln to further enhance
Battleface rolles a new API-driven insurtech platform Robin Assist
Insurtech Battleface has rolled out a new tech-driven platform as a service to support insurance carriers, brokers, managing general agents (MGAs)
Insurtech Cowbell released Modeling Catastrophic Cyber Events
Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs), has released a new whitepaper, “Modeling Catastrophic Cyber Events”
Insurtech XILO raises $6 mn in seed round led by ValueStream Ventures
San Diego insurtech startup XILO offering workflow software for insurance agents and others in the insurance space, capped off 2022 by increasing its seed round
Philly-based insurtech Propeller Bonds raises $6.4 mn in seed funding
Philly-based insurtech, Propeller, has raised $6.4 mn in seed funding led by a consortium of industry partners
How Bolttech, SingLife & ZhongAn revolutionising insurance industry in Asia
The InsurTech industry in Asia is still relatively smaller as compared to the western world of Europe and North America
Insurtech bolttech and Thailand’s mobile operator AIS delivers embedded insurance
Insurtech bolttech and Thailand’s mobile network operator AIS have partnered to deliver embedded protection services including mobile device switch
Insurtech Lumera acquires of a supplier for Dutch pension funds AxyWare
Stockholm-based startup Lumera has acquired AxyWare, a renowned system supplier for Dutch pension funds. Lumera delivers unified policy administration environments
Ondo InsurTech won a new contract with insurer Topdanmark
Ondo InsurTech has won a new contract with insurer Topdanmark, to expand its roll-out to 20,000 new customers in Denmark
Insurers benefit from interest rate hike in 2024
Insurance companies will have the chance to earn higher profits in 2023 thanks to a continual interest rate hike trend
Insurtech Cover Genius partners with HomeToGo to provide embedded protection for rentals
Cover Genius, insurtech for embedded protection, today announced it is partnering with HomeToGo, the marketplace with the world’s largest selection of vacation rentals
Insurtech Superscript completed of £45 mn Series B funding
London-based insurtech Superscript has announced the completion of its £45 million Series B funding round led by existing investor BHL UK
Insurtech Root launches investigation into $9.5 mn of marketing services transactions
In an SEC filing, insurtech Root Insurance has shared that it has engaged outside counsel to conduct an internal investigation with respect to a series transactions
Insurtech Alicia raises €7 mn in seed funding from Volta Ventures
Alicia Insurance, a Rotterdam-based insurance startup with an embedded insurance for freelancers proposition, has raised €7 million in seed funding from Volta Ventures
MetLife with EasyCancha introduces accident insurance coverage
MetLife has partnered with easycancha to introduce an on-demand accident insurance coverage in Chile
Singlife with Aviva launches of accelerator program to insurtech startups
Financial services company Singlife with Aviva launches of Singlife Connect, its accelerator program to support and spur the growth of promising insurtech startups
Insurtech Modern Life launches new technology End-to-end life insurance platform
Modern Life Insurance Group, the technology-enabled life insurance brokerage for advisors, has announced the launch of its latest technology platform
Insurtech Compass Network partnered with PremFina to provide insurance payment
The independent broker network insurtech, Compass Network has announced its partnership with PremFina – a premium finance provider fintech
Global digital twin financial & insurance services will grow to $6.8 bn in 2026
The global digital twin financial and insurance market services is expected to grow from $2.95 billion in 2021 to $3.57 billion in 2022 at a compound annual growth rate
UK insurtech Charles Taylor announces migration to cloud
UK insurtech Charles Taylor has announced the migration of all its technology processes to a cloud platform as part of the provider’s digital transformation journey
Insurtech Lemonade’s Survey explored the point of view of insured renters in U.S.
When people left big cities during the COVID-19 pandemic, COVID deals ran the residential rental market, according to an update from Insurtech Lemonde
Data analytics provider Verisk acquires Swedish SaaS-insurtech Mavera
Verisk, a global data analytics provider, has entered into an agreement to acquire Sweden-based InsurTech Mavera, a firm with a strong regional presence
Indian fintech Paytm launches insurance protect to mobile transactions with ERGO
Indian One97 Communications, that owns the brand Paytm, has launched “Paytm Payment Protect”, a group insurance plan, in association with HDFC ERGO
CarDekho focuses on its insurtech platform InsuranceDekho and planning IPO
CarDekho, run by Girnar Software Pvt., is sharpening focus on its insurance platform InsuranceDekho even as it scales down its asset-heavy used car marketplace
Insurtech Bolttech selects Sapiens Intelligence for complete P&C transformation
Sapiens International Corporation, a global provider of software solutions for the insurance industry, announced the deployment of its cloud-first P&C core platform
Digital experiences of P&C insurance customers throughout the claims process
The ongoing digital transformation of the property and casualty (P&C) insurance industry has hit some speedbumps when it comes to customer satisfaction
Insurtech NEXT Insurance launches employment liability insurance for Restaurants
NEXT Insurance, a digital insurtech transforming small business insurance, today announced its renewed commitment to small business restaurant owners
SaaS-insurtech Vertical Insure closes a $4 mn seed round
SaaS-insurtech Vertical Insure has closed a $4 million seed round co-led by Rally Ventures and Dundee VC
Insurtech Walnut raises $4 mn for embedded insurance platform
Walnut Insurance, a technology company that provides infrastructure for embedded insurance, announced their $4 mn seed round, with ATB Financial and NAventures
B2B insurtech Bondaval raises €15 mn in a Series A, total raised €23.5 mn
B2B insurtech Bondaval has raised €15 million in a Series A funding round. The London-based startup is aiming to give credit teams more certainty
Singapore-based insurtech Aktivolabs raises $7 mn in a Series A funding
Singapore-based insurtech startup Aktivolabs has secured $7 million in a Series A funding round, according to regulatory filings
Insurtech PasarPolis raises $12 mn funding after last raised $54 mn in a Series B
Indonesian insurtech PasarPolis has raised $12 million in bridge funding. Existing investors including UK-based equity investor Leapfrog Investment
South Korean digital insurance carrier Carrot secures $250 mn funding
South Korean digital insurance carrier Carrot General Insurance has secured a fresh funding of $25 million. Led by private equity firm Affirma Capital
Insurtech Oyster secured $3.6 mn in seed round led by New Stack Ventures
Oyster, an insurance technology company that provides personal insurance through seamless point-of-sale and post-purchase experiences
India’s insurtech Coverfox Group closes of POS operations
Coverfox Group, India’s largest insurtech group, announced the closure of their POS operations. The senior management has decided to keep the company’s focus
Vehicle InsurTech Prima Assicurazioni signed a strategic agreement with iptiQ
Vehicle InsurTech Prima Assicurazioni has signed a strategic agreement with iptiQ, the digital platform and white-label insurance provider of the Swiss Re Group
Nassau Re/Imagine launches an insurtech incubator TalentBridge23
Nassau Re/Imagine launched TalentBridge23 an incubator program focused on the Hartford insurtech community
Cover Genius reports that home owners will switch to embedded insurance
Cover Genius’ latest report says a rising segment of property owners will switch away from traditional insurance and towards embedded options
QBE Ventures invested in Geosite – geospatial data aggregator for insurers
QBE Ventures has invested in California-based geospatial data aggregator Geosite, saying the platform does the “heavy lifting” to extract insurance-relevant information
Sydney-based insurtech Butter Insurance secured $1.3 mn of pre-seed funding
Butter Insurance, a Sydney-based insurtech start-up, secured $1.3million worth of pre-seed funding; it has also become the first to embed an insurance solution
25% of InsurTechs will exit the insurance market in 2023
More than a 25% of insurtechs will leave the insurance marketplace in 2023 – just a couple years after investments in the space were at an all-time high
Insurtech Otonomi builds blockchain parametric cargo platform
Insurtech Otonomi announced that it has closed a $3.4 mn funding round to build a first-to-market blockchain-powered parametric cargo
Insurtech Kin secures new committed credit facility
Kin Insurance announced the closing of a $145 million committed credit facility. The new facility, which was led by Runway Growth Capital LLC and the Avenue Venture
Pet insurance startup Napo chase the Gen Z and millennials pet ownership
Pet insurance startup Napo has decided to take a particular angle on this topic, not only offering pet insurance but also pet health prevention information
Largest InsurTech Funding Rounds in November 2022
There were more than 20 funding events in the insurtech sector in November 2022. What follows is a selection of these, focusing on those in the P&C and life insurance
Insurtech Arbol delivered a $10mn parametric insurance payout
Arbol, an insurtech platform underwriting climate and weather insurance, has delivered a $10-million parametric insurance payout to property and casualty (P&C)
Insurtech Get Covered raised $6 mn, bringing its total funding to date to $14.5 mn
Insurtech Get Covered has raised $6 mn from RET Ventures, State Farm Ventures, WISE Ventures, and LeFrak, bringing its total funding to date to $14.5 mn
Singapore-based insurtech BoltTech offer insurance on the card’s Max Me
Insurtech unicorn BoltTech has partnered with Max Solutions Service, a subsidiary of PTG, to offer insurance on the card’s Max Me application
Insurtech Intelligent AI raised £2m in seed funding leading by SuperSeed
Insurtech Intelligent AI, which claims to be disrupting insurance risk management with AI and data analytics, has reportedly raised £2m in seed funding.
Insurtech BeeHero raised $42m in Series B funding
Insurtech BeeHero, an insurer-investor backed data-driven technology company mitigating pollination risk to address global food security, has raised $42m
Insurtech Co-op partnered with Amazon to promote pet insurance product in UK
Provider of pet insurance, Co-op Insurance has partnered with Amazon Ads to promote its pet insurance product in the UK
Insurtech Pie Insurance partnered with Ford Credit to provide vehicle insurance by AI
Pie Insurance and Ford Credit have announced the launch of a new commercial vehicle insurance product for Ford Pro customers
AIaaS insurtech Omni:us raised a €12mn for end-to-end insurance claims automation
German insurtech Omni:us, which provides intelligent end-to-end insurance claims automation, has raised a further €12mn as part of an extension to its Series A funding round
US insurtech Patra secured $146mn investment from FTV Capital
US insurtech Patra has announced a $146mn investment to help it continue to address major structural challenges within America’s $60bn insurance industry
Fifteen days of percentage-only rankings replace wallet-size advantages with a pure skill metric. A live-streamed final strips capital gaps out of the equation entirely
Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
Bitcoin ETFs simplify the process. This structure enables you to access your exposure within an asset via an already harmonized structure within the regulations concerning settlement and risk management