Matic Insurance announced the close of a $24 million funding round led by IA Capital Group.
“With our B round secured, we will be able to further support customer and partnership demand across new channels. I am excited to have our new investors on board and for our existing investors to continue to support our mission of simplifying insurance. I am thrilled to have Andrew Lerner join our board of directors, bringing 25 years of financial services and insurance industry experience to our team of over 150.” – Matic CEO, Ben Madick.
“Matic has been synonymous with expertise in insurtech since their inception a few years ago. We chose to partner with Matic because of their unrivaled proprietary technology, differentiated distribution, and the customer-focused vision and values carried forth by their team. We look forward to seeing Matic’s growth continue as they expand their product offerings, partnerships, and internal talent.” – Managing Partner, IA Capital, Andrew Lerner.
Amid the COVID-19 pandemic, Matic’s customer-centric model continued to grow and navigate the changing home buying and refinancing landscape, seeing a 40% increase in customers leveraging the platform in Q2 compared to Q1. Throughout this time they maintained their industry-leading NPS of 88 and continued to save customers over 30% per year.
In addition to IA Capital, participating investors include Cultivation Capital, Clocktower Technology Ventures, MTech Capital, The K Fund, Protection America, Nationwide Ventures, Anthemis Group, ManchesterStory, Franklin Madison, and Fenway Summer.
Arbol Raises US$60 Million to Expand Climate Risk Solutions and Insurance Portfolio
Arbol, a climate risk solutions provider with a global footprint across more than 15 countries, has announced the successful closure of a $60 million Series B funding round.
Dubai’s US$850 Million Flood Losses Spur Urgent Call for Major Changes
As dramatic footage of Dubai’s storms unfolded earlier this month, it was clear that this was no ordinary weather event.
AEGIS London and Kayna Collaborate to Enhance Online Quote and Bind Platform
AEGIS London has announced a partnership with InsurTech firm Kayna to enhance its online quote and bind platform, Opal Underwriting.