AI-powered method for predicting underwriting performance at Lloyd’s
New AI-powered method for predicting underwriting performance at Lloyd’s, focusing on relative performance as a benchmark
InsurTech News
Insurtech Verisk acquired SuranceBay for $162.5mn
Insurtech Verisk entered a definitive agreement to acquire SuranceBay, a provider of producer licensin, and compliance software for the life and annuity sector, for $162.5mn
Insurtech INSHUR secured $35 mn in new funding from Trinity Capital
Insurtech INSHUR, a provider of insurance solutions for the on-demand economy, secured $35 mn in new funding from Trinity Capital
Embedded insurtech Wrisk raised £12 mn in Series B to support European growth
Wrisk, a provider of embedded insurance solutions for the automotive industry, closed its Series B funding round, raising £12 mn to support European growth
Digital bank Monzo launched flexible home insurance product
Monzo has launched a flexible home insurance product specifically for homeowners, combining buildings and contents coverage to simplify and modernise
Insurtech Laka raised $10.4 mn in Series B funding round
Insurtech Laka continues to build momentum in the green mobility insurance market, reinforced by raising $10.4 mn in its latest Series B funding round
RV insurtech Roamly appointed as Lloyd’s coverholder
Four years earlier Outdoorsy, an online recreational vehicle rental and outdoor travel business, launched its insurtech division with SiriusPoint after raising $120 mn in equity and debt financing
Zurich acquired cyber insurtech BOXX Insurance
Zurich Insurance Group announced its acquisition of BOXX Insurance Inc., a Toronto-based cyber insurance and risk management insurtech
Ergo completed $2.6 bn acquisition of the NEXT Insurance remaining share
Munich Re’s Ergo primary insurance group completed its $2.6 bn acquisition of the remaining share capital of insurtech NEXT Insurance
Insurtech ZestyAI secured $15 mn credit facility from CIBC Innovation
ZestyAI, a provider of AI-based risk analytics for the property and casualty insurance industry, has secured a $15 mn credit facility from CIBC Innovation Banking
UK insurtech COVR raised $2.5 mn in seed funding
COVR Global, a London-based insurtech startup, has raised $2.5 mn in seed funding to advance the development of its AI-powered claims decision engine
Fintech Conquest Planning secured $80 mn in a Series B led by Goldman Sachs
Conquest Planning, a financial planning software company, has secured $80 mn in a Series B funding round led by Goldman Sachs Alternatives
E&S insurtech Ledgebrook raised $65 mn in a Series C
Ledgebrook, an excess and surplus (E&S) insurtech startup, has raised $65 mn in a Series C funding round led by The Stephens Group
MetLife expanded partnership with insurtech Sprout AI to accelerate claims automation
MetLife has expanded its partnership with insurance automation provider Sprout:ai to accelerate claims automation and improve customer experience
Aon launched Aon Broker Copilot, a proprietary AI platform
Aon announced the launch of Aon Broker Copilot, a proprietary, patent-pending platform that uses artificial intelligence, large-language models and predictive analytics
Clearspeed raised $60 mn in Series D to expand its AI-driven voice analytics
Insurtech Clearspeed has raised $60 mn in Series D funding to expand its AI-driven voice analytics technology for risk assessment across the insurance and national security sectors
Insurtech Testudo launched a technology and data platform for underwriting
Testudo, a start-up supported by Lloyd’s of London through its innovation accelerator Lloyd’s Lab, has launched a technology and data platform for underwriting
LHL Strategies acquired software company ClearLife
LHL Strategies, operating as Lighthouse Life, has acquired ClearLife, a UK-based firm with software and consulting operations in both the UK and the US
American InsurTech Council challenges NAIC’s push for data vendor definitions
The American InsurTech Council (AITC) has raised concerns about the current direction of the National Association of Insurance Commissioners’ (NAIC) Third-Party Data
Insurtech Instnt entered a strategic partnership with reinsurer Munich Re
Instnt, an insurance technology company backed by venture capital, has entered a strategic partnership with global reinsurer Munich Re
ICEYE expands SAR constellation to 54 satellites with latest SpaceX launch
Insurtech ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, has successfully deployed six additional Synthetic Aperture Radar
Kin Insurance finalizes $1.65 bn reinsurance program across key markets
Kin Insurance has completed its reinsurance placements for the term covering June 1, 2025, through May 31, 2026, for the reciprocal exchanges
95% of UK and 89% of US insurers use AI for data ingestion, but governance gaps remain
New research from insurtech provider hyperexponential (hx) reveals that data ingestion is the most widely adopted AI use case in the insurance sector
U.S. insurance regulators oppose federal AI moratorium in reconciliation bill
Insurance commissioners from across the United States have asked the U.S. Senate to reconsider specific provisions in the reconciliation bill known as the “One Big Beautiful Bill Act.”
FCA partners with NVIDIA to support AI innovation in UK insurance & financial services
FCA has partnered with NVIDIA Corp. to provide regulated financial firms with access to the company’s computing infrastructure and enterprise AI software
Insurtech AIFT and Shin Kong Life Insurance partnered to expand into Vietnam
Insurtech AIFT and Shin Kong Life Insurance have signed a cooperation agreement to expand into Vietnam’s digital insurance sector
Cover Genius and TAL innovate to address underinsurance in Australia
Australian life insurer, TAL, has partnered with leading global insurtech Cover Genius to launch embedded life insurance in Australia
Insurtech Kota secured €12.8 mn in a Series A led by Eurazeo
Kota, an Dublin-based insurtech startup focused on simplifying insurance benefits administration, has secured €12.8 mn in a Series A
TPA insurtech Reserv secured $25 mn in Series B funding
Reserv, a technology-driven third-party administrator (TPA), has closed a $25 mn Series B funding round led by Flourish Ventures
Insurtech platform Empathy raised $72 mn in a Series C funding
Insurtech platform Empathy has raised $72 mn in a Series C funding round led by Adams Street Partners
Igloo introduced Igloo Tech Solutions, focused on digital tools for insurance
Igloo has introduced Igloo Tech Solutions, a new product line focused on digital tools for insurance operations in Southeast Asia
Auto insurance platform Crabi secured $13.6 mn in Series A funding
Crabi, a digital auto insurer based in Mexico, secured $13.6mn in Series A funding. The round was co-led by Kaszek and Ignia, with additional support from 30N
Cyber insurtech Baobab secured €12 mn in Series A
Baobab, a Berlin-based cyber insurance company, secured €12 mn in a Series A funding round led by Viola FinTech and eCapital
Startup Voxel raised $44 mn in Series B round led by NewRoad Capital
Voxel, a California-based startup founded in 2020, has raised $44 mn in a Series B round led by NewRoad Capital Partners
Insurtech bolttech completed $147 mn Series C funding round
Insurtech firm bolttech has completed a $147 mn Series C funding round, bringing its valuation to $2.1 bn
EIOPA proposed guidelines on artificial intelligence use in insurance
European Insurance and Occupational Pensions Authority (EIOPA) has proposed draft guidelines on artificial intelligence use in insurance
Canada expands data pooling program that uses AI to detect potential fraud
The Canadian Life and Health Insurance Association (CLHIA) is expanding its data pooling program that uses artificial intelligence to detect potential fraud
Insurtech XChange TEC INC to appeal Nasdaq delisting after market value shortfall
Insurtech XChange TEC.INC will appeal a Nasdaq delisting notice after failing to maintain the required $35 mn minimum market value
CLARA Analytics study shows AI can spot insurance fraud early
A recent study by CLARA Analytics shows that AI tools can flag possible fraud in property and casualty claims just two weeks after filing, much faster than traditional methods
Insurtech Wefox sells Italian insurance subsidiaries
Wefox, an insurtech and managing general agent, announced it will sell all shares in its Italian subsidiaries—Wefox MGA and Wefox Services Italy
Willis launched FinTech Plus — global insurance solution for fintechs
FinTech Plus offers a unified structure that addresses a wide range of financial exposures, now including comprehensive Cyber protection
GenAI insurtech Sixfold launched new feature called Discrepancy Scan
Sixfold, a company focused on generative AI for insurance risk analysis, has launched a new feature called Discrepancy Scan
Insurtech KatRisk acquired Gamma to strengthen location intelligence and risk capabilities
KatRisk, a provider of catastrophe risk modeling software for the insurance and financial sectors, has acquired Gamma
IHC launches AI-based reinsurance platform in Abu Dhabi
Institutional investor IHC announced the launch of a new artificial intelligence-based reinsurance platform, headquartered in the Abu Dhabi Global Market
Lloyd’s invested in cyber insurtech BreachBits
Lloyd’s has invested in BreachBits, a cyber risk technology company founded by former US military cyber warfare professionals
ClimateTech Mitigrate secured strategic investment from Lloyd’s
Mitigrate, a ClimateTech SaaS company and Lloyd’s Lab alumni, has secured a strategic investment from Lloyd’s, with continued backing from existing investors
ZestyAI received regulatory approval for Severe Convective Storm suite
ZestyAI, a provider of AI-based insurance risk analytics, has received regulatory approval from the Ohio Department of Insurance for its Severe Convective Storm suite
MediHelp International launched CoverGo’s health insurance platform
MediHelp International has officially gone live with CoverGo’s next-gen, end-to-end health insurance platform
Lemonade reported a net loss of $62.4 mn for Q1 2025
Lemonade Inc. reported a net loss of $62.4mn for the first quarter, up from $47.3mn in the same period last year
Lemonade reports driver’s license data exposure linked to quote system flaw
Insurtech Lemonade disclosed that the driver’s license numbers of approximately 190,000 insurance applicants were mistakenly shared
Verisk launched a catastrophe model designed to assess the SRCC in the U.S
Verisk, a data analytics and technology firm, has introduced a catastrophe model designed to assess the financial impact of strikes, riots, and civil commotion (SRCC) in the U.S
Home insurtech Kin exceeded $100 bn in total insured property value
Digital home insurance provider Kin has exceeded $100bn in total insured property value (TIV), marking a significant milestone in its expansion and profitability
Likewize acquired Speedperform, a company specializing in AI customer support
Likewize, a global provider of device protection, repair services, and technical support, has acquired Speedperform, a company specializing in AI-based customer support
Sapiens acquires AdvantageGo for £43 mn to expand global P&C platform in the UK
Sapiens International Corporation, a global software provider for the insurance industry, has signed a definitive agreement to acquire AdvantageGo
AI-insurtech Earnix acquired Zelros, a GenAI startup for insurers
Dynamic AI platform for insurance Earnix has signed a definitive agreement to acquire Zelros, a pioneer in Generative AI for insurers and banks
Insurtech Steadily raised $30 mn in Series C, reaching $355 mn valuation
Landlord insurtech Steadily secured $30 mn in Series C funding, bringing its total valuation to $355 mn. This latest round increases the company’s total funding to $89.5 mn
Sentra raised $50 mn in Series B to expand AI and Cloud Data Security Platform
Cloud data security insurtech Sentra secured $50 mn in Series B funding, increasing its total capital raised to over $100 mn
SECUTIX and insurtech Cover Genius launched ticket protection partnership
SECUTIX, a market leader in advanced digital solutions for the event industry, announced the launch of a new ticket protection partnership with Cover Genius
Admiral sells U.S. auto insurtech Elephant to refocus on UK & Europe
Admiral Group announced the sale of its U.S. automobile insurtech, Elephant Insurance Co. and Elephant Insurance Services
Fintech Octane Lending secured a $700 mn facility from life insurers
Octane Lending, a fintech company that finances recreational purchases such as all-terrain vehicles, secured a $700 mn forward-flow facility from a group of life insurers
1 billion-dollar startups have become commonplace. More than 600 new unicorn companies were formed in this year. Globally, there were more than 1,300 active unicorns
The global fintech market, valued at $272 bn in 2023, is projected to reach $723 bn by 2030 and $1.265 trln by 2034, growing at a CAGR of 15%
A slowdown in financial technology sector deal flow is lingering, with a wait-and-see sentiment extending into the second half of the year
Private equity and venture capital investment in financial technology and payments companies in Europe has been dwarfed by the $10 billion