Insurtech Root shared Q4 2022 results: premium 23% decrease to $122 mn
Insurtech Root continues to see opportunities to increase new writings from Carvana, as well as scale the platform to new partners
News
Malaysia’s Insurtech PolicyStreet received license for operate in Australia
Insurtech PolicyStreet has received the green light to operate in Australia by obtaining the Australian Financial Services License
Insurtech Kanguro launches pet insurance in Florida
Pet insurance startup Kanguro launched in 2021 as the only InsurTech offering an end-to-end customer experience that is 100% bilingual and 100% digital
Insurtech Kita secured £4mn led by Octopus Ventures to combating climate change
UK-insurtech Kita, focused on reducing the risks associated with carbon purchases, has secured a £4mn funding round
UNIQA Insurance Group improved 2022 consolidated earnings to EUR 425 mn
Austrian UNIQA expects significantly improved consolidated earnings before taxes for the financial year 2022 in the range of EUR 420 million to EUR 425 million
National Association of Insurance Commissioners announces Regulatory Priorities
National Association of Insurance Commissioners (NAIC) announced its strategic priorities for 2023. Each year, NAIC Members finalize the priorities
Reinsurance group Africa Specialty Risks approved as a coverholder at Lloyd’s
Pan-African focused reinsurance group Africa Specialty Risks has approved as a coverholder at Lloyd’s. Atrium, a Managing Agent at Lloyd’s, sponsored ASR
Expected credit losses at U.S. banks increased for Q4 2022 to $20.4 bn
Provisions for expected credit losses at U.S. banks increased for the seventh consecutive quarter in the last quarter of 2022, reaching $20.37 billion during the period
QBE Insurance Group announced 2022 net profit of $770mn, premium $20 bn
QBE Insurance Group has announced its 2022 (FY22) statutory net profit after tax of $770mn, compared with $750mn in FY21
Brazil Insurance Market in 2023. Top 25 Life & Non-Life Insurers
Brazilian Insurance Industry premiums continued with a double-digit growth trajectory in 2022, with an increase of 16.2% versus 12% in 2021
Middle Eastern insurance market: Fitch Ratings Outlook
Middle Eastern insurers’ company profiles are heavily influenced by the regional industry profile and operating environment (IPOE) ranges
Coalition expanses of cybersecurity insurance for US large enterprise businesses
Cyber insurtech Coalition has announced the expansion of its cybersecurity insurance offering in the US to large enterprise businesses with revenues up to $5 bn
Insurtech Kirontech tackles fraud & waste in medtech & scaling strategy
Medtech and insurtech company Kirontech, has announced the launch of its growth capital fundraise to help accelerate its goal of fixing the $1.2 bn problem
What Insurer Riders Should I Consider for My Property?
A basic home policy covers the loss or theft of possessions, property’s interior and exterior, and personal liability for harm to others
Chinese Reform of Health Insurance will help urban employees and retirees
Chinese localities are implementing a reform of health insurance for urban employees and retirees, drawing widespread attention
Global InsurTech Market to garner $160 bn by 2030 at 32.7% CAGR
Global insurtech industry was pegged at $16 billion in 2022, and is estimated to generate $160 billion by 2030, growing at a CAGR of 32.7%
Indian insurtech InsuranceDekho raised $150 mn in Series A funding
Indian insurtech InsuranceDekho has raised $150 mn in Series A funding consisting of a mix of equity and debt, in the largest ever series A round by an Indian Insurtech
SaaS insurtech Zylo secured an additional $5 mn in Series C funding
SaaS insurtech Zylo has secured an additional $5 mn in Series C funding from MassMutual Ventures and celebrates key milestones from 2022
A new Florida law have potential to reduce cost of homeowners insurance
A new Florida law and proposals have the potential to reduce the cost of homeowners insurance in the state, according to the Insurance Information Institute
How inflation affects U.S. auto and home insurance premium rates?
U.S. auto and homeowners insurance premium rates lagged behind the inflation rate in 2020 and 2021, laying the groundwork for the premium increases
Combined ratio for the property & casualty insurance is forecast to be 106%
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 105.8%, a worsening of 6.3 points from 2021
Global average total cost of a data breach growth up to $4.88 mn
In the first half of 2025, there were approximately 1,732 publicly reported data breaches in the United States, an increase of 11% compared to the same period in 2024
Job Trends in the European Insurance Sector 2023
The number of active job postings in the Insurance sector of the Europe region increased by 13.8% MoM, and increased by 29.4% since December 2022
Trends at Europe’s largest insurers illustrate an upward movement in insurance pricing
Trends at Europe’s largest insurance companies illustrate an upward movement in commercial insurance pricing which is set to continue, albeit at a slower pace
B2B2C insurtech Roadzen mergers with Vahanna Tech Edge Acquisition
Insurtech Roadzen has plans to become a publicly traded company in the US via merger with Vahanna Tech Edge Acquisition in a blank-check vehicle in a deal valued $965mn
Lawyers sequred award in legal fees in $2.7 bn Blue Cross health insurance antitrust case
A group of plaintiffs’ lawyers has asked a U.S. appeals court to uphold what it called a “historic” $2.7 billion health insurance antitrust settlement
Insurtech Kin finished 2022 with $228 mn in gross premium (+117%)
Kin, the direct-to-consumer home insurtech, announced select preliminary operating results through the fourth quarter ended 2022
Allianz reports record operating profit, targets 2023 profit of 14.2 bn euro
Allianz reports record operating profit. Total revenues increased 2.8 percent to 152.7 (12M 2021: 148.5) billion euros
Swiss Re targets a net income of $3 bn for 2023
Swiss Re reported a net income of USD 472 million for 2022, with a net income of USD 757 million in the fourth quarter. Based on Swiss Re’s very strong capital position
Fairfax Financial Holdings announces 2022 net earnings of $1.1 bn
Fairfax Financial Holdings announces fiscal year 2022 net earnings of $1,147.2 million ($43.49 net earnings per diluted share after payment of preferred share dividends)
Net-Zero Insurance Alliance launched the first Target-Setting Protocol
United Nations-convened Net-Zero Insurance Alliance launched the first Target-Setting Protocol at the World Economic Forum’s Annual Meeting
Reinsurers pull back cat reinsurance coverage, cat bonds & ILS instruments
Following multiple years of large catastrophe losses, reinsurers are raising prices and pulling back cat reinsurance coverage
Total insured losses from Turkey Earthquake estimated $2.4 bn, property losses $20 bn
Total property losses from the M7.8 and M7.5 earthquakes are expected to be close to $20 billion, with the M7.8 earthquake accounting for the bulk of those losses
Digital assets are a threat to the safety of the banking industry
Digital assets are a threat to the safety and soundness of the banking industry, and banks should proceed with caution
South African insurtech Naked Insurance raised $17 mn in Series B funding led by IFC
South African insurtech Naked Insurance has raised $17 million in Series B funding led by the International Finance Corporation (IFC)
Blockchain cybersecurity platform Ironblocks raised $7 million in Seed round
Ironblocks, a blockchain-native cybersecurity platform, has announced that it has raised $7 million in Seed round co-led by Collider Ventures and Disruptive AI
Cybersecurity startup Descope raised $53 mn in Seed funding led by Lightspeed Venture
Cybersecurity startup Descope announced that it has raised $53 million in Seed funding and launched its new authentication platform
Israeli insurtech OpenEyes raised $18 mn in Series A funding led by Insight Partners
OpenEyes, an Israeli insurtech startup targeting commercial automotive fleets, has emerged from stealth with $18 mn in Series A funding led by Insight Partners
Insurtech Goose Insurance sequred $4 mn Series A funding led by Axis Insurance
Vancouver-based Insurtech Goose Insurance closed a $4 million Series A funding round led by Axis Insurance Managers, with participation from Impression Ventures
Security deposit insurtech Rhino is exploring $40mn fundraising round
Security deposit alternative insurtech Rhino is exploring $40mn fundraising round in what could end up being a massive down round compared to the ~$500mn valuation
How to Start With A Strong Financial Plan
Outlining a strategy to improve one’s financial health as the new year begins is an excellent first step toward a more prosperous 2023
Re/Insurers are waiting for answers on whether new price cap on Russian refined product export
The insurance industry is waiting for answers on whether the new price cap on Russian refined product exports will be applied to delivered bunker fuel
Flood insurtech reThought raised $10.5 mn in a Series B funding round
Flood insurtech reThought Insurance has raised $10.5 million in a Series B funding round led by InsurTech venture capital firm IA Capital Group
Insurer Saga talks with AI-insurtech Open about sale of Acromas underwriting
UK insurer Saga is in talks with Sydney-based insurtech Open Insurance – best-known for its artificial intelligence-driven brand Huddle – about the sale
Kotak Mahindra Bank is considering selling a Kotak General Insurance
Kotak Mahindra Bank, backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit
Insurance industry in Bangladesh is grappling with a major crisis with unpaid to reinsurers
The insurance industry in Bangladesh is grappling with a major crisis as a shortage of US dollars has made it difficult for local insurers to make premium payments
Andrew Brooks takes up the Deputy Chair of the Council of Lloyd’s
Lloyd’s, a leading marketplace for commercial, corporate and specialty risk solutions, is pleased to announce Andrew Brooks as the new Deputy Chair of the Council of Lloyd’s
Insurtech startup Branch launches condo insurance
Branch Insurance, a full-stack insurtech company, has launched condo insurance, expanding its array of instantly bindable insurance products
Insurance losses of earthquakes in Turkey & Syria will be in the $5 bn, economic losses $10 bn
Insurance losses relating to the series of earthquakes in Turkey and Syria are expected to be in the billions of dollars
Insurtech io:insure – a digital M&A insurance marketplace for SME launched in the UK
M&A tech and InsurTech firm io.insure, which claims to be the world’s first online mergers and acquisitions (M&A) insurance marketplace for SME transactions
Creditworthiness of Japan’s insurers will likely remain stable
With inflation and its consequences roiling global financial markets, preparations for tougher times by Japan’s insurers are looking to have paid off
SaaS-Insurtech Socotra a 71% increases in revenue for 2022
Insurtech Socotra has reported robust 2022 results, with 71% increase in revenue and a 75% growth in customers
Qonto tapped insurtech Qover to simplify embedded insurance for cardholders
Business finance solution Qonto is using insurtech Qover to simplify and overhaul its embedded insurance programme for cardholders.
Global re/insurance broker AON launches of a CyFi – digital cyber insurance for SME
Global re/insurance broker Aon, a leading provider a broad range of risk, retirement & health solutions, launches of a CyFi – digital insurance solution
MIM, an investment arm of insurance giant Metlife, acquires Raven Capital Management
The investment arm of insurance giant Metlife had agreed to acquire Raven Capital Management, a U.S. private credit manager with $2.1 bn in assets under management
Crypto asset protection insurtech Coincover raises $30 mn led by Foundation Capital
Coincover, a Cardiff, UK-based crypto digital asset protection company, has raised $30 million in funding led by Foundation Capital to protect people and their digital assets
Global re/insurance broker WTW reported 4% revenue growth for 2022 to $8.9 bn
Business finance solution Qonto is using insurtech Qover to simplify and overhaul its embedded insurance programme for cardholders.
Insurtech Vertical Insure raised $6mn in seed round led by reinsurer Greenlight Re
Embedded insurtech startup Vertical Insure has secured a $2mn extension to its seed funding round. Startup is embedded insurance platform built for vertical SaaS
GlobalData predicts gig economy insurance market growth
The market for gig economy insurance is set to grow amid continuing cost-of-living pressures, according to GlobalData survey
Insurtech Angle Health secured $58mn of Series A funding led by Portage
Insurtech Angle Health Insurance has announced the completion of its Series A funding round, which raised $58mn led by Portage, a global investment platform
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
Private equity’s grip on US insurers deepens risk concerns as assets shift into opaque credit, offshore deals and affiliated investments