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
InsurTech News
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
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
CerebrumX incorporates connected vehicle data from Ford to support usage-based insurance
Automotive data company CerebrumX is planning to incorporate connected vehicle data from Ford Motor Company to support its data-driven usage-based insurance
Sure delivers frictionless digital embedded insurance experience for PorchPals members
Sure has announced a new partnership with PorchPals, a just launched platform that provides affordable porch piracy package insurance
Malaysian InsurTech InsureComFree secured an investment from KTCC
InsureComFree, a Malaysia-based InsurTech, has secured an investment from KT Cap Consulting (KTCC), a Singapore-based management consultancy firm
Pet insurance startup Napo raised £15m in Series A funding
Napo, a UK-based pet insurance startup, has raised £15m in Series A funding in a round led by DN Capital
SaaS-InsurTech Send closed a Series A funding investment of $10m
InsurTech Send Technology Solutions Ltd (Send) has today announced it has closed a Series A funding investment of $10m
Fitch survey shows European insurers turning to private credit for illiquidity premiums, diversification, and ESG goals, as market grows to $2.7tn by 2029
Insurance stocks fell in Q3 while the S&P 500 gained nearly 7%. P&C names lagged, with analysts calling the quarter underwhelming after 2024’s strong run
Global infrastructure faces a $11.5tn gap by 2035, driven by energy transition, AI demand, and urban growth, requiring $4.2tn yearly investment
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual