Paris-based cybersecurity insurtech Stoïk has raised €11m in a Series A round led by US investment giant Andreessen Horowitz (a16z) to roll out its hybrid insurance and cybersecurity product in European SME markets.
ALL LATEST FUNDING ROUNDS
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Laka, winner of the ‘Best Cycle Insurance Provider’ Award four years in a row has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG.
Wefox, the German digital insurer, is in advanced discussions to raise fresh funding at a valuation of $5 billion to $6 billion, people with knowledge of the matter said.
Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd’s and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re.
Corvus Insurance, the market-leading specialty insurance MGA offering Smart Commercial Insurance products powered by AI-driven risk data, today announced the appointment of Paul Gaspar as Chief Data Officer, effective immediately.
Pazcare, a Bangalore-based employee benefits and insurtech platform, announced today it has raised $8.2 million led by Jafco Asia, bringing its valuation to $48 million. The funding also included participation from returning investors 3One4 Capital and BEENEXT.
Middesk, a platform designed to automate business verification and underwriting decisions, today announced that it raised $57 million in a Series B round.
Branch snags $147M at a $1.05B valuation, showing that thorny insurtech market not impervious to growth
Branch, a startup offering bundled home and auto insurance, has raised $147 million in Series C funding at a postmoney valuation of $1.05 billion.
The French startup wants to disrupt the traditional pet insurance experience with personalised coverage, fast reimbursement, unlimited live vet chats and support, and charity-driven benefits.
Acrisure, a Fintech specialist that operates a top-10 global insurance broker, has closed a $725 million in Series B-2 Preferred Equity funding at a $23 billion valuation, representing a 31% increase from its last preferred equity raise in March 2021.
Medical care and travel startup Air Doctor has secured $20M in funding for scaling the company globally. This second round of investment capitalizes on the worldwide influx in travelers after the Covid-19 pandemic and will enable the company to enter its next phase of growth.
Any pet owner will be able to confirm it – our pets become part of our family and their health is just as important as the owners. Increasingly, people are becoming pet parents and are prepared to invest in all aspects of their pet’s care – from how they are fed, to insurance, to toys and beyond. It’s meant that a new area of innovation has sprung up – PetTech.
Indonesian insurtech startup Qoala has raised US$65 million in a series B round led by France-based investor Eurazeo and joined by MassMutual Ventures and Sequoia Capital India.
Meet Getlife, a Madrid-based startup that just raised $6.3 million (€6 million) in seed funding. The company wants to make it easier to access life insurance products in Europe. For instance, there’s no medical exams needed to subscribe to Getlife.
British insurer Hiscox (HSX.L) said on Thursday it had set aside $40 million for expected losses due to claims arising from the Russia-Ukraine conflict, mainly through its political violence, war and terror portfolio.
French startup Alan has raised a new €183 million funding round ($193 million at today’s exchange rate). The company sells its own health insurance products and has expanded to other medical products and services. In other words, Alan wants to build a healthcare super app and a one-stop shop for all your questions and needs when it comes to your health.
There were 25 funding rounds in the insurtech sector between April 1 and April 29, 2022, according to a review by Digital Insurance. What follows is a selection of the funding rounds, focusing on those in the P&C and life insurance sectors that are part of the venture-capital financing model.
The company intends to use the fresh funds to expand in new geographies, including international expansion into Southeast Asia scale its leadership team and strengthen its product line.
Hippo’s Expansion to the Empire State Further Diversifies its Portfolio, Reaching 88% of Americans in 38 States.
SafetyWing, a startup that’s providing health insurance coverage to remote workers, has secured $35 million in a Series B round.
Direct-to-consumer and fast-growing insurtech Kin Insurance coverage has now priced its debut Hestia Re Ltd. (Collection 2022-1) disaster bond issuance at a dimension of $175 million, with the coupon traders will obtain finalised on the top-end of preliminary steering.
Insoore plans to develop AI projects in damage detection, engage new talent and expand globally.
Swiss Re has successfully closed an innovative multi-year stop-loss transaction, with financing ultimately provided by J.P. Morgan and various institutional investors.
We’ve learned that direct-to-consumer and fast-growing insurtech Kin bolstered the surplus capital of its main carrier operating in Florida by $20 million in order to meet Demotech’s requirements for its rating affirmation recently.
Processing claims at scale presents a challenge for insurers, particularly where the claims entail factors like complex underlying health conditions.
Surance.io has recently completed a round of financing from Tech Mahindra that acquired 25% equity of the start-up with an option to invest in additional 20%. The initial investment is at the amount of US$ 4 million which will support the global expansion of the strong player in the InsurTech industry.
For any life insurer, future success means resonating with demographically diverse generations of new consumers where they live—and that’s increasingly in a digital world.
Digital life insurance platform Covr Financial Technologies has announced the completion of a Series B funding round.
Using AI and ML, Layr helps business owners get the right insurance faster, cheaper and easier.
There were about 25 funding rounds in the insurtech sector between March 1 and March 31, 2022, according to a review by Digital Insurance. What follows is a selection of the funding rounds, focusing on those in the P&C and life insurance sectors that are part of the venture-capital financing model.
– Life and retirement arm indicated to have $29 billion value
– Proposed terms for AIG selling shares in unit to be set later
German technology firm Xempus has completed a Series D funding round, raising USD 70 million.
Ondo has become the first ‘insurtech’ firm to go public in the capital today, as listed acquisition vehicle Spinnaker Acquisitions snaps up the firm and brings it onto the London Stock Exchange.
Sachin Bansal’s Navi Technologies, a fintech startup that offers customers insurance and loan products, has filed for a $440 million IPO as the 40-year-old entrepreneur who made his money by kick starting the e-commerce wave in the country once again makes a bold choice.
Investment commitment from Definity further solidifies APOLLO’s leading position in the Canadian market.
Crowley has joined forces with Insurtech MGA, Loadsure to help accelerate the development of proprietary smart technology serving the global cargo and freight insurance market by investing in the $11 million Series A funding round.
Nuon AI (Nuon) announces it closed an oversubscribed £1m pre-seed round today. Nuon extended the round led by Haatch Ventures to grow the team following earlier-than-expected customer traction in the UK and US.
Insurely, on its mission to digitize the insurance market with its easy-to-use solutions for open insurance, today announced the completion of a €19 million Series A funding round. The company will use the funds to scale the business into new markets in Europe.
There were 34 funding rounds in the insurtech sector between Feb. 1 and Feb. 28, 2022, according to a review by Digital Insurance. What follows is a selection of the funding rounds, focusing on those in the P&C and life insurance sectors that are part of the venture-capital financing model.
Pendella Technologies, a fast-growing technology company on a mission to take the bias out of life insurance, announced the completion of $5.2 million in Series Seed-2 funding.
Kin Insurance, the direct-to-consumer home insurance company built for every new normal, today announced the $82 million first close of its Series D round, with additional commitments for a second close totaling $18 million.
Nayya Raises $55 Million, Doubling its Valuation, to Transform the Way Americans Select and Utilize Benefits
Nayya will further its mission of providing consumers with a personalized benefits experience that meets the realities of today’s health and financial landscape. Helping Americans gain understanding and control in the wake of rapid inflation, surprise medical bills, and growing debt is more critical than ever.
Foxo Technologies Inc., whose artificial intelligence and genetics technology is used to underwrite life insurance, is going public through a deal with a blank-check company, according to people familiar with the matter.
The round, co-led by MLTPLY and Brooklyn Bridge Ventures, provides fit-for-purpose coverage and tools to help policyholders run their businesses more effectively.
Nirvana Insurance, a technology-driven platform that modernizes commercial fleet insurance using vast amounts of data from sensors on trucks, today announced the public launch of its services to make our roads safer and aid the imperiled truck industry.
UK life insurance stands out as the only life sector in Europe with an improving outlook, which is largely due to the likelihood of increasing business from pension schemes looking to transfer their risk to insurers, Fitch Ratings says.
Insurtech startup HealthySure has raised $1.2 Million (9crore approx.) in a Pre-Series A round led by Inflection Point Ventures (IPV). The round also saw participation from We Founder Circle, Dexter Angels, Campus Fund, HEM Angels and other private investors.
Lloyds Banking Group has completed a £5.5bn (€6.5bn) longevity swap deal with SCOR and Scottish Widows for its Lloyds Bank No. 1 Pension Scheme.
Redkenko Health Tech Pvt Ltd, which operates insurtech startup Kenko Health, has raised $12 million (around Rs 90 crore) as part of its Series A round led by Sequoia Capital India, the company said in a statement on Monday.
Gaia is a startup that is effectively out to ‘de-risk’ the whole process of IVF fertility treatment, using products like personalized insurance and payment plans. It’s almost BNPL for babies — but not quite.
Swiss Re has made a minority investment in insurtech digital platform Klimber Latam Corp as the reinsurer looks to grow in Latin America’s life and health insurance markets and replicate its strategy of supporting digital businesses in other regions around the world.
Vitesse, the global payment, liquidity and treasury management platform, today announced that it has raised $26 million in Series B funding led by Prime Ventures.
Meet Insify, an insurtech startup that raised a $17 million (€15 million) Series A round led by Accel. The company wants to modernize the insurance market. Instead of focusing on the consumer market like many insurtech startups, Insify has picked a different path. It’s a pure B2B play as Insify focuses on Europe’s small and medium companies.
A customer’s attention has been a rare commodity since long before the term “attention economy” entered the business lexicon. Wherever consumers are online, providers from all sectors are competing to get noticed. Staying visible is the name of the game, but it is becoming increasingly difficult as digitalization advances and delivers an ongoing clamor from companies in every conceivable industry vying for customers’ limited attention.
Seyna, the fast-growing insurance platform, announces a €33 million investment round to scale its service to all brokers and merchants in Europe.
UK-based insurtech startup Percayso Inform has raised £3.4m in a funding round led by Manchester-based venture capital investor Praetura Ventures.
Revolut, the financial superapp with almost 4 million UK customers, today announced the launch of Pet Insurance. The stand-alone product reinforces Revolut’s existing insurance offering including travel insurance, purchase protection and ticket- and missed event cover. Pet insurance is Revolut’s entrance into insurtech, and is the company’s first of many future standalone insurtech products.
African countries are yet to catch up with social security and safety programs commonly used in the West, where the government provides health insurance and unemployment benefits to citizens.
Chilean insurance-tech startup Betterfly plans to expand overseas after its latest funding round swelled its valuation to $1 billion.
There were 41 funding rounds in the insurtech sector between Jan. 1 and Jan. 31, 2022, according to a review by Digital Insurance. What follows is a selection of the funding rounds. A portion of the data was sourced from Crunchbase. For our previous edition, which covered the month of December, click here. These updates will continue monthly.
Bolttech, an insurance technology unicorn backed by Hong Kong billionaire Richard Li, is considering raising $200 million to $300 million in fresh funds this year, according to people familiar with the matter.
Descartes Underwriting, the insurtech company that specializes in parametric natural catastrophe products, has announced a $120 million Series B funding round.
Ascend Raises $30M Series A and Secures $250M Lending Commitment To Boost Modern Insurance Payment Offerings
Ascend, the first modern insurance payments platform, today announced that they have raised a $30M Series A in equity funding, bringing the total funding raised to $39M along with a $250M lending commitment to finance insurance premium loans through its platform facilitated by Hudson Structured Capital Management Ltd. – doing its re/insurance business as HSCM Bermuda – an investment adviser that specializes in re/insurance, insurtech, and transportation investments.
In health care, the process of underwriting and claims analysis can be both labor-intensive and error-prone. Claim adjusters and underwriters are often required to read and carefully parse hundreds of documents per case. Each year, the insurance market invests an estimated more than $3 billion in work hours devoted solely to collating and summarizing medical records.
On a mission to build the leading e-mobility insurtech offering in Europe, London-based Laka has secured over €10.6 million for its unique insurance model.
Sayata, a marketplace for insurance brokers and carriers, added $35 million to its latest funding round. The Insurtech previously raised $17 million five months ago, resulting in a total A round of $52 million.
Led by OMERS Ventures and with participation from Digital Garage Ventures, the George Kaiser Family Foundation, the round brings the total raised to $59 million.
Reask gains funding from leading early-stage investors to deliver next-generation global Nat Cat modelling
The funding, led by Tencent, plus SV Angel and Hawktail, will support Reask’s growth and development of its next generation AI-based models, as re-insurers seek to deal with the increased frequency and scale of losses from climate risk and natural catastrophes, worldwide.
Five Sigma, a cloud-native Claims Management solution provider, announced on Wednesday extension of its Series A round from Aquiline Technology Growth (ATG), bringing the company’s total funding to date to over $20 million. The company’s Series A funding was initially announced in September of 2021.
Greycroft and Crosslink co-lead funding round on the next generation permanent life insurance platform.
KYND, a leading provider of pioneering cyber risk management solutions for the insurance industry, has today announced a £3.25 million investment from BGF.
Meet Stoïk, a new French startup that wants to protect small and medium companies against cybersecurity incidents.
KYND, a provider of cyber risk management solutions for the insurance industry, has raised £ 3.25 million from UK and Ireland-based growth capital investor BGF.
Automated security validation firm Pentera, formerly called Pcysys, announced on Tuesday that it has raised $150 million in a Series C funding round at a valuation of $1 billion, making it Israel’s newest unicorn.
SecureNow, an end-to-end insurtech platform currently serving 25,000 small businesses across 150 locations, has raised a total of US$ 6 million in its last funding round.
Aviva announced a commitment to invest £50 million into venture capital funds focused on emerging technology which supports a more sustainable future.
A commercial insurance brokerage technology company that is up and running in the UK is targeting the U.S. after raising more than $7.9 million in a Series A funding round.
Herald, a digital infrastructure that connects software developers to commercial insurance carriers through a single API, announced today that it has raised $8 million in new funding.
Rockstart, global early stage investor, announces its co-investment in IBISA, a Rockstart AgriFood portfolio company.
HealthCare.com, a leading data-driven insurtech platform, announced today the closing of an oversubcribed $180 million Series C round led by funds managed by Oaktree Capital Management.
A robust supply of capital combined with growing ranks of new investors is driving record investment into the insurtech sector.
Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. The startup has closed three funding rounds of Series B within the past six months, bringing the company’s total raised to over $70 million.
AgentSync this morning announced that it has closed a $75 million Series B, pushing its valuation to $1.2 billion.
ThreeFlow, which provides software for insurance brokers selling employee benefits, announced today that it raised $45 million in Series B funding.
Azos, a digital life insurance provider increasing access to flexible and affordable life insurance products in Brazil, today announced a $10 million Series A round led by Prosus Ventures, with the participation of Kaszek Ventures, Maya Capital and Propel.
The round was led by iAngels and Menara Ventures, which will help the company expand its activities in the U.S. market.
Founded in 2019, Continuity, uses AI to help insurances improve underwriting for SME’s. The insurtech company has just bagged a funding boost of €5 million from Elaia Partners, Bpifrance, and Kamet Ventures.
Homeowners insurtech Slide has announced it has raised $100 million in a Series A funding round, led by Gries Investment Funds and Tampa Bay Ventures.
The funding, which comes just three months after a $6 million Series A round, will drive expansion of Vesttoo’s Insurance-Linked Program (ILP) offering, a security-based investment portfolio, as well as its fully digital marketplace for insurance-based risk transfer and investments
French startup Leocare has raised a big Series B funding round led by Eight Roads. Overall, the company has raised $116 million. It’s an equity and debt round, which means that part of this amount is a cash-for-equity transaction, while the rest is a credit line.
Resilience, an industry leader in cyber insurance and security solutions, announced today that it closed an $80 million Series C funding round, co-led by General Catalyst and Corey Thomas of Rapid7, with participation from Lightspeed Venture Partners, Founders Fund, Charles River Ventures, Shield Capital, and Intact Ventures.
One of the most noticeable — and noted — effects of climate change has been its impact on how other events in the environment — be they natural or man-made occurrences — play out: forest fires burn more violently and for longer; floods happen more often and are more severe when they do; and so on, with climate change often cited as the main culprit for all of the catastrophes.
EasyHealth, a startup focused on navigating the Medicare experience, announced a $135 million Series A round on Thursday.
Nirvana Health announces $7.5M seed extension to help therapists navigate a ‘new world’ of insurance
As funding pours into mental health tech, one thing remains relatively unchanged: complex insurance billing. Now, even that medieval process is starting to attract startup interest — from companies that scan claims for errors, to others looking to simplify filing itself.
Steadily serves the 17 million individual rental property owners who collectively own the large majority of single family and small apartment rentals across the US.
When you live in a home, something always breaks. And it can be difficult to know who to call and if you can afford the repairs. That’s where Puls Technologies come in.
Insurance lags behind other financial services in the adoption of digital technologies. Granted, a few unicorns have popped up from the modern digital insurance space such as Tractable and Lemonade; however, this sector hasn’t raced to the stage as quickly as say, payments or lending.
Enhance Health, a new technology-enabled, digital health insurance brokerage and care navigation platform focused on serving the Medicare Advantage market, today announced its launch with $150 million of total capital.
Improving the lives of workers in the gig economy isn’t just a political issue — it’s also becoming a hot topic for startups. The latest example is London-based newcomer Jove, an insurtech which has just closed a £600k pre-seed from Fuel Ventures and the heads of Octopus Group Ventures.
Founded in 2018 by Brandon Tobman, Dylan Gaines and Ryan Solomon, GetCovered was built to bridge the gap between the insurance and real estate sectors.
Fintech business insurance startup Nimbla has today announced a £5.1m funding round led by Silicon Valley venture fund Fin VC with participation from Barclays Bank.
owl.co, an insurance claims monitoring platform, today announced that it secured $30 million in Series-B funding to accelerate the company’s growth.
Collective Benefits (part of our Future50 Europe), an insurance platform for gig and independent workers, has raised $10 million in a fresh capital injection from investment giant Prosus.
Insurance policy provider Acko is the latest Indian startup to become a unicorn, joining nearly three dozen other firms in the world’s second-largest internet market that have attainted the coveted status this year.
Sana, a provider of health insurance for small and midsize businesses, announced today the closing of $20M in series A extension funding.
Coterie Insurance, the insurtech company making small business insurance easy, today announced the completion of a $50 million Series B financing round — totaling $75 million raised since its founding in 2018.
Justos, a startup that says it will be the first insurance company in Brazil to use data when determining rates, has raised a $35.8 million Series A round of funding led by Ribbit Capital.
Claim Genius, a rapidly emerging global InsurTech leader of AI-based claims solutions advancing the automotive industry, announced the closing of its $6 million Series A3 funding round today, following its earlier funding of $7.8M; now totaling $14.8M to-date.
Insurtech startup Lydia AI, formerly Knowtions Research, has raised $10 million CAD ($8 million USD) to launch the first series of insurance products using its health score technology in Taiwan, as it targets the Asia-Pacific insurance market.
For independent retailers, inventory financing is often a complicated and lengthy process that ties up their working capital. BondAval, an insurtech startup with offices in London and Austin, Texas, is focused on helping them access better credit terms while providing assurance to suppliers that they will be paid on time.
Weecover, a Spanish startup specialising in embedded insurance, has raised €2.3M in its seed round of funding.
Health insurance technology startup Devoted Health has raised a whopping $1.15 billion in a Series D funding round. After the round closed, the company’s valuation reached $12.6 billion.
Surer has raised US$1M in its seed round of funding from Norwegian private investment company Kistefos, global specialist insurer Markel Corporation through its insurtech investing arm, Markel Digital Investments, and an angel investor. Antler, a global early-stage venture capital firm, also invested in Surer in an earlier round.
At-Bay today announced the closing of a $20 million extension to the company’s Series D financing, adding new investor ION Crossover Partners.
The average penetration rate for insurance in Africa is between 3% to 5%. South Africa makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt.
Cover Whale, an Insurtech MGA focused on disrupting the commercial auto space, announced the completion of a $15.5 million fundraising led by investors Ambac Financial Group and TigerRisk Partners’ Applied Financial Technologies subsidiary.
Today, the car insurance industry is rife with bias; priced on things many would say has little or nothing to do with their driving.
Sure raises $100M at a $550M valuation to help companies launch insurance products with its ‘flexible’ APIs
Sure, an insurance infrastructure startup, announced today that it has closed on $100 million in Series C funding at a $550 million valuation.
Stable, an insurtech aiming to help minimize a businesses’ risk due to volatile commodity prices, today announced it has raised $46.5 million in a Series A round of funding led by Greycroft.
Loop Health aims to be the “Oscar Health of India” and targets the country’s health insurance gap with its approach to primary care and insurance.
Following its recent launch into Denmark, the Nordic neo insurer Hedvig announced today that it closed a €38.6 million Series B funding round led by Anthemis, with participation from existing investors including Cherry Ventures, Obvious Ventures, CommerzVentures, along with Swedish Novax, Nineyards Equity, Jonas Kamprad and Mathias Kamprad.
Coalition, a San Francisco-based cybersecurity insurance company, has raised $205 million in Series E funding, valuing the pre-IPO company at more than $3.5 billion.
BOXX, a cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed USD $10 million (CAD $12.7 million) Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund (CMF), Zurich Insurance Group (Zurich) and SixThirty Ventures.
Just Insure, a pay-per-mile insurance technology company, has raised $8 million in a funding round.
bolttech, one of the fastest growing international insurtech unicorns, today announced the extension of its recently-announced US$180 million series A funding round led by Activant Capital Group, bringing the series total to US$210 million. The largest ever Series A round for an insurtech now adds two new strategic investors in bolttech, Singapore-based global investor EDBI (“EDBI”) and Alma Mundi Insurtech Fund, Spain (“Mundi Ventures”).
Previsico gains £1.75mil funding to support growth and next generation global flood warning solution
Insurtech Previsico today announced that it has gained £1.75mil Seed Plus funding, led by Foresight Group,
a listed private equity and infrastructure investment manager, to support the next stage of their product development, including IoT sensors, team expansion and sales growth, in the UK and beyond.
Ascend on Wednesday announced a $5.5 million seed round to further its insurance payments platform that combines financing, collections and payables.
Envelop Risk, a leading data-driven underwriting and risk analytics business, today announced a Series B investment of $130 million led by SoftBank Vision Fund 2.
BriteCore, a leading provider of next-generation core platforms for P&C insurers, today announced the appointment of Ray Villeneuve as CEO and the completion of a $20 million Series C financing.
The company now offers instant-issue life-insurance policies both direct-to-consumers and through the 1.2 million licensed insurance sellers in the US via its new Agent Platform.
Technology tools, including web portals and exposure mitigation techniques, have become critical parts of modern risk managers’ arsenals, helping to inform and automate a range of functions.
London-based insurtech with high profile backers including one of the world’s largest reinsurer SCOR has become Britain’s next unicorn with its latest funding round. The company is looking to “disrupt” the insurance market worth $5 trillion globally.
Israeli insurtech startup Vesttoo announced on Sunday that it has completed a $6 million funding round led by Hanaco venture capital fund, just four months after raising $2 million.
Kalepa, an insurance underwriting platform based out of New York, has raised a $14 million Series A funding round led by Inspired Capital, with participation from previous investor IA Ventures.
Sunday, an insurtech startup based in Bangkok, announced it has raised a $45 million Series B.
Shepherd, an insurtech startup focused on the construction market, has closed a $6.15 million seed round led by Spark Capital.
The Series A investment will be used to further develop Balance Re’s proprietary asset-liability management technology and to support its fully licensed German reinsurance company.
Blueprint Title, an insurtech startup working in the title insurance space, announced this morning that it closed a $16 million Series B. The new round was led by Forté Ventures. The startup previously raised an $8.5 million Series A in the final weeks of 2019.
Insurify, America’s highest-rated virtual insurance agent and comparison platform, announced today it has closed $100M in Series B funding led by Motive Partners, a specialist private equity firm focused on financial technology investments.
Having a loved one with specialized care needs is incredibly challenging, but not something that people who have never had to deal with the issue would necessarily quite understand.
Australian insurtech Open has raised a $31 million series B as it looks to launch in New Zealand and the UK in the 12 months.
Slope Software, the Atlanta insurtech startup that is modernizing actuarial modeling for insurers, today announced a $2.0 million investment led by Tech Square Ventures, a leading early-stage investment firm.
Hong Kong-based digital insurance platform OneDegree has raised $28 million in a new round of funding as the startup looks to expand in Asia. Sun Hung Kai & Co. and AEF Greater Bay Area Fund took part in the series B1 round along with six existing investors. To date, the company has raised ~ $70 million.
Fresh Off $120M Funding Round, Outdoorsy Makes Pivotal Hire And Debuts Expansion Plan Of Insurtech Business, Roamly
Following the company’s latest investment, Roamly is on the fast track to becoming a revolutionary RV insurance provider, with international expansion to Canada and additions to its claims business.
Goldman Sachs Group Inc.’s asset manager is backing startup DealerPolicy in a funding round that raised $110 million for the company, which provides auto dealers with insurance quotes for their customers.
General insurance provider Digit Insurance had announced in July that it raised $200 million at a valuation of $3.5 billion.
In addition to the funding from from ManchesterStory, The Hive and Avanta Ventures, InShare names chief underwriting officer and CTO.
Sayata has raised $17 million in new venture capital and has a broad growth strategy in mind. The Massachusetts-based Insurtech startup has a platform designed to help brokers and carriers quickly and easily grow their business insurance portfolios, and the cash infusion will help it expand into new insurance lines.
The platform’s AI underwriting support, blockchain-enabled access to real-time data, and advanced automation aim to significantly increase the speed at which specialty insurance can be sold, underwritten and serviced.
DigiSure, the mobility insurance platform with high-tech screening, comes out of stealth with $13.1M raise
DigiSure, a digital insurance company that caters to modern mobility form factors like peer-to-peer marketplaces, is officially coming out of stealth to announce a $13.1 million pre-Series A funding round.
The deal with a top-3 reinsurer, with fronting support from an A-rated carrier, spans across multiple years and multiple states to support Loop’s expansion plans.
High Definition Vehicle Insurance Group, ranked on Insurtech Insights Future50 Americas is planning new products and a national expansion, following $32.5 million in new venture funding.
With 75% of U.S. businesses underinsured, TrustLayer continues its momentum as the preferred solution for reducing risk and cost amid 200k daily insurance verification requests.
E-commerce platform for buying and selling used cars Carvana and insurer Root are teaming up to develop integrated auto insurance solutions for Carvana’s online car buying platform. In connection with the partnership, Carvana will invest ~$126 million in Root, subject to customary regulatory approvals.
The funding will be used advance Breeze’s mission to protect families in their most financially vulnerable moments.
Marshmallow Financial Services is soon to announce its latest fundraising round that will bring its valuation to $1.2bn (£869m), joining the ranks of other recent UK unicorns Starling Bank, Gousto and Zego.
Afilio, a Berlin based Insurtech, has secured USD13 million in highly competitive Series A funding to support the expansion of their ‘Peace of Mind-as-a-Service’ platform offering users digital estate management services.
Just months after raising $28 million, Jerry announced today that it has raised $75 million in a Series C round that values the company at $450 million.
HCI Group, Inc. announced that its InsurTech subsidiary, TypTap Insurance Group, Inc., a Florida-based writer of private market homeowners and flood insurance, has confidentially submitted a draft registration statement for a proposed initial public offering with the Securities and Exchange Commission.
Digital health insurer Ottonova has received fresh capital of around 60 million euros. Existing investors Debeka, HV Holtzbrinck Ventures, Vorwerk Ventures and btov Partners are increasing their commitment, according to an Ottonova press release.
Some people may think insurance is boring, but not Maria Goy. She is passionate about it. As an executive at New York Life, she came to view insurance as a product that differentiates the haves and have nots.
A hippo is on Times Square — Hippo Insurance, that is.
A few weeks after closing a Series A-2 round of nearly $3.8 million from 10 investors, insurance technology company Synchrono Group Inc., which operates under a trademarked brand name of SynchronoSure, is launching its third product, according to founder, CEO, and chairman Steve Hartman.
This week we spoke with Ron Rock, senior director for insurance and insurtech at Jobs Ohio. Following the departure of Tesla and Oracle from the once dominant Silicon Valley, we discuss whether insurtech could be the next big part of the tech world to pursue high-growth regions.
Colorado-based reThought Insurance, a managing general agency focused on the flood insurance market, has secured $15.5 million in investment to accelerate its growth.
Indian online insurance aggregator PolicyBazaar has filed for an initial public offering in which it is seeking to raise $809 million, becoming the fourth startup in the past two months from the South Asian market to explore public markets.
The COVID-19 pandemic has led life insurers to speed up their digital enhancements like mobile insurance shopping and accelerated or automated underwriting. Most insurance carriers are looking for ways to provide more services such as e-signatures, digital applications and online digital quoting.
Guros Receives $5.8M USD in Seed Funding to Accelerate the Digitization of the Insurance Industry in Latin America
The $5.8M USD raised will be used to strengthen their platform capabilities, build Guros’ team, expand into health insurance, and enhance its APIs for commercial partners, such as Kavak, Creditas and albo.
Amplify Life Insurance, a digital permanent life insurance platform, announced today it has raised $2.5M in Seed funding led by Anthemis with participation from Transverse Ventures Fund.
Dutch and US-based FRISS is a cybersecurity company that focuses completely on automated fraud and risk detection for P&C insurance companies across the world.
The company seeks to make injury insurance coverage more affordable, working through a network of affinity group partners.
Flock has raised $17M in Series A funding to supercharge its expansion into new geographies and product lines. This funding round marks a major milestone in building a global, fully digital insurance company for connected and autonomous vehicles.
Employers typically offer three options for healthcare insurance. When it’s time to switch to Medicare, particularly Medicare Advantage, there are over 3,500 plans available nationwide, and an average of 30 plans someone can choose from in their particular area. Connie Health is leading seniors through the Medicare maze, helping whittle down those 3,000 plans into a handful of best choices based on care requirements.
Munich Re Ventures’ HSB fund has reinvested in cyber insurance start-up At-Bay at a valuation of $1.35 billion to support the expansion of the insurtech into new markets.
Agentero serves over 800 independent agencies by converting existing data into actionable insights that enable them to maximize their earned revenue.
Insurtech Gateway Australia says global investment activity in the first half has seen records broken as funders see attractive insurance opportunities, and has called for more local activity.
Just two short months after announcing a $200 million Series D round that took its valuation to $2 billion, Ethos, the insurtech leader that’s transforming the life insurance space, has raised an additional $100 million in capital.
A London insurtech has announced that it has raised £6m of funding in a round led by a Silicon Valley investor.
N26 GmbH is holding discussions with investors to raise several hundred million dollars in a fundraising that could value the German fintech at about $10 billion, according to people familiar with the matter.
American International Group Inc (AIG.N)plans to use an IPO to sell part of its life and retirement business, while Blackstone Group Inc (BX.N)agreed to buy a sizeable stake, according to a person familiar with the matter.
Today, Insurello, which helps consumers get fair compensation, announces it was able to claim €20 million in insurance compensation for its clients and the young company also just raised €15 million in fresh funding.
Hellas Direct today announced agreement of a EUR15 million loan from the European Investment Bank (EIB).
Cryptocurrency insurance platform Coincover raised $9.2 million in a Series A funding round led by Element Ventures.
This week we spoke with Ron Rock, Senior Director at JobsOhio, about insurance disruption and the future of work – and the State of Ohio.
Digit Insurance, backed by Indian skipper Virat Kohli, has attracted $200 million investment from existing and new investors which has helped rocket its valuation to $3.5 billion (approximately Rs 26,000 crore).
INSHUR, a leading global Insurtech firm carving out a name for itself in commercial insurance, today announced completion of additional Series B funding, led by JVP alongside existing investors Viola Fintech, and MTech Capital. The new funding takes the total raised to $35 million.
London-based insurtech hyperexponential (“hx”) – which has a mathematical modeling software for the commercial insurance sector – has closed an $18m funding round led by growth capital fund Highland Europe.
Bequest is creating a digital revolution in the insurance industry with the sole purpose of simplifying wills and life insurance for the millennial market.
Acko is in talks to raise $200 million in a new round of funding that could value the online general insurance startup at $1 billion, according to people aware of the negotiations. A successful deal will propel the startup into a fast-expanding set of newly minted Indian unicorns this year.
EIS, a core and digital platform provider for insurers, today announced a growth investment of more than $100 million from TPG, a global alternative asset firm.
Having secured its $2.1m seed funding round in January this year, Nayms brings in a new cohort of investors who have subscribed to a future listing of the project’s native token, NAYM.
The company seeks to disrupt the $22B market multi-family property market by delivering a simple, efficient, and transparent experience for buildings and communities.
The US-based AI-enabled insurtech raised a $60 million Series D funding round, valuing it at $1 billion, per TechCrunch. Tractable’s AI solution uses computer vision technology to evaluate photos of vehicle damage rather than relying on human appraisals, which both increases the accuracy of damage estimates and streamlines the customer claims journey.
RenewBuy, one of India’s leading InsurTech companies, has raised US$ 45 million, in a series C funding round. This funding round has been led by an investment from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, a UK-based asset manager that supports growth stage financial services and financial technology businesses. RenewBuy’s existing investors, Lok Capital and IIFL Wealth also participated in the fundraise.
Hellas Direct, an innovative, technology-driven insurance company operating in Greece and Cyprus, announced that it has raised a further EUR 32m in funding in its latest financing round, bringing the total raised to date to EUR 56m.
Vital, a next-generation InsurTech platform, has raised $3mn in total with a pre-series A round led by India’s renowned venture capital company BLinC Invest. Venture Catalyst, Survam Partners and several other angel investors also participated in the pre-series A round.
As the insurance industry adjusts to life in the 21st century (heh), an AI startup that has built computer vision tools to enable remote damage appraisals is announcing a significant round of growth funding.
Automating insurance claims is a big business, and the world of AI is coming at it ‘full pelt’. The latest is Akur8, an insurtech automating insurance platform whose ‘Transparent AI’ product is trying to eat into the incumbent large business of Willis Towers watson, among others.
Honey Insurance launches with $15.5M AUD, the largest seed round ever for an Australian tech startup
When Richard Joffe moved his family to Australia in 2019, he said applying for home insurance “was like traveling back in time 30 years.”
As the insurance industry continues to seek the best way to digitize and simplify the property claims experience, claim management platform handdii is announcing a $3 million Seed round led by Brick & Mortar Ventures, with participation from Nine Four Ventures and Australia-based Scale Investors and Fifty-Second Celebration.
Bright Health Group today announced the launch of its initial public offering of 60,000,000 shares of its common stock pursuant to a registration statement filed with the Securities and Exchange Commission.
This week Stéphane Guinet, founder and CEO at Kamet Ventures discussed the key attributes of startups that can rise above the rest and attract major funding.
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