Mumbai-based insurtech startup, Renewbuy, has successfully raised US$40 million in funding from Dai-ichi Life Holdings, a prominent insurance company based in Japan.

MCE Insurance Limited, self-proclaimed as the premier provider of motorcycle insurance in the UK, has entered into Administration.

Madison Mutual Insurance Company (MMIC) has partnered with Akur8, and will use the insurtech's Risk and Rate modeling solution to update its pricing processes.