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Safe-Guard Products has announced a new investment from Hellman & Friedman, a private equity firm. Founded in 1992 and based in Georgia, Safe-Guard Products is a provider of third-party private label finance and insurance protection products for the automotive, RV, marine, and powersports industries.
Juno – the first company in the US to provide child disability insurance closes US$8.5 million Series A funding to expand reach of new core employee benefit
Insurtech funding in Latin America plummeted to a historic low of $26 million in the first half of 2024, representing a sharp 78% decline compared to the same period in 2023. Over the 12 months from July 2023 to June 2024, the total funding reached $43 million, marking the lowest figure on record.
The Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has announced an investment of €25 million in management agency Mundi Ventures, agreeing that the funding will be allocated to insurtech startups and parallel sectors aiming to improve and digitise the insurance sector.
Enzo the German-based startup dedicated to solving the global problem of tap water pipe damage in buildings, has announced the successful completion of a $2.5 million seed funding round.
Solera, a global provider of SaaS solutions, has announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock.
Natural Capital Research (Natcap), a startup specialising in nature and biodiversity intelligence, has announced it has successfully raised $10 million in a Series A funding round.
Wopta Assicurazioni, an insurtech MGA established to support businesses and professionals against everyday risks, has successfully closed a €4.1 million Series A funding round. The raise brings the total raised since its inception to approximately €8 million.
Supercede, a digital reinsurance platform, has successfully raised US$15 million in a Series A funding round. The funding was led by Alven, with participation from Mundi Ventures, Outward, Seedcamp, MMC Ventures, and AFG Partners.
Feather, a startup focused on providing digital insurance solutions for expats in Europe, has secured €6 million in a funding round led by Keen Venture Partners. Additional investors include Plural and industry leaders from Allianz, AXA, and Bastian.
Sidecar Health, an innovative health insurance company, has raised $165 million in a Series D financing round. This investment marks the largest private investment in employer health benefits for the year.
Lloyd’s has announced a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform.
Norm Ai, a cutting-edge regulatory compliance platform, has successfully raised $27 million in a Series A funding round. The round was led by Coatue, with significant participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital.
Climate risk intelligence company Climate X has raised $18 million in a Series A investment round led by Google Ventures. The funding round also saw participation from Pale blue dot, CommerzVentures, A/O, Blue Wire Capital, PT1, Unconventional Ventures, and Western Technology Investment.
IBISA, the global climate insurtech, has successfully raised $3 million to scale its parametric insurance solutions for weather-related risks in Asia and Africa.
PCF Insurance Services, one of the top twenty US insurance brokers operating across 40 states, has announced the acquisition of four key agencies: Ignitist in Pennsylvania, The Brady Agency in North Carolina, Roseberry Insurance Agency in Mississippi, and The Sinnott Agency in Iowa.
Verituity, a leading innovator in verified, intelligent payments, has successfully closed out an $18.8 million funding round.
Humata Health, a healthcare company specialising in frictionless prior authorisation payments for payers and providers through AI and automation, has successfully raised $25 million.
Kinetic Automation, an infrastructure company delivering digital maintenance and servicing for EVs and AVs, has successfully closed a $21 million Series B funding round.
African Risk Capacity (ARC) has announced it has received a $27 million contribution from the Dutch Government to help boost climate resilience in Africa and further promote parametric insurance across the continent.
Chexy, a Canadian startup which allows renters to pay their rent online whilst earning rewards and building credit, has announced it has raised $3 million in a seed round.
ZA Tech, a next-generation insurance core system SaaS provider, has rebranded as Peak3 and has also announced the completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures.
Amplify, an insurtech seeking to democratise life insurance, announced it has raised $20 million in a Series B funding round.
Insurtech funding has seen a significant uptick in recent weeks with raises almost reminiscent in frequency of the 2021 digital transformation boom.
Finsall, a Fin+InsureTech, has successfully secured a $1.8 million bridge round, led by existing investors Unicorn India Ventures and Seafund alongside other institutional participants.
Pyte, a Los Angeles-based company specialising in secure computation platforms, has announced it has raised an additional $5 million in funding, bringing its total funding to over $12 million.
YesWeHack, a prominent Bug Bounty and cybersecurity vulnerability management platform, announced it has successfully raised €26 million in a Series C funding round.
Anterior, an insurtech using AI to expedite health insurance approval for medical procedures, has successfully closed a $20 million Series A round at a $95 million valuation.
Axis Insurance, a Canadian specialty insurance brokerage, announced it had received a significant strategic investment from Lee Equity Partners, a mid-market fund specialising in the financial services and healthcare sectors.
Guidewire, a leading platform provider for property and casualty (P&C) re/insurers, has significantly contributed to a $19 million funding round for Indico Data, a company specialising in automating essential workflows for document-intensive industries such as insurance and financial services.
Continuity, an insurtech using artificial intelligence and external data for professional and commercial P&C insurers, has announced a successful €10 million Series A funding round.
Understory, a provider of insurance solutions against severe weather losses, has secured $15 million in a Series A funding round to develop a new product for the renewable energy sector.
Sixfold, a generative AI insurtech for underwriters, has raised $15 million in a Series A round.
Insurtech Insights USA 2024, the premier gathering for innovators and leaders in the insurance technology industry, is excited to announce its lineup of top speaker sessions taking place at the Javits Center on June 5th and 6th.
FintechOS, a leading end-to-end financial product management platform, has announced it has completed a successful $60 million Series B+. The round was led by Molten Venture, Cipio Partners, and BlackRock alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
ifeel raises US$20 million to save millions in mental health-related disability, productivity and claims for insurance companies and corporates around the world
Bondaval, a British insurtech which provides protection against payment defaults has secured backing from a leading European Venture Capital.
Canadian Insurtech APOLLO has raised US$13.4 million to establish its buy-now-pay-later (BNPL) subsidiary, Finshore. FinShore will provide a fully embedded monthly payment option to over 100,000 Canadians who are insured with Apollo.
Authentic Insurance, a New-York based insurtech startup has raised US$11 million in a Series A funding round led by First Mark Capital, with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures.
Swiipr, a travel paytech company announced it has secured US$7.6 million in funding to further develop its platform aimed at disrupting and revolutionising airline disruption payments.
Cover Whale, a leading InsurTech company specialising in connected insurance for commercial auto, has successfully secured US$27.5 million in debt and equity from investment funds managed by Morgan Stanley Expansion Capital.
Vitesse, a leading treasury and payment solutions provider for the insurance industry, today announced the completion of a $93 million Series C funding round led by leading global investment firm, KKR, with participation from existing investors, including Hannover Digital Investments.
Arbol, a climate-focused insurtech startup, has successfully raised $60 million in a Series B funding round. Giant Ventures and Opera Tech Ventures co-led the round, with participation from Mubadala Capital, joining existing investors Finch Finance and Space Capital.
Care coordination company Watershed Health has successfully completed a $13.6 million funding round.
Norwegian flood risk startup, 7Analytics, has announced a successful funding round of €4 million from Scale Capital, a prominent investment firm.
BimaPay, an insurtech startup, has successfully secured US$2 million (approximately INR 16.7 crore) in funding, led by LC Nueva Investment Partners.
Indian insurance startup Go Digit has successfully raised US$141 million from numerous investors in anticipation of its upcoming initial public offering (IPO).
Leading embedded insurance provider Cover Genius, has announced the successful closure of its $80 million Series E funding round.
In a significant stride towards revolutionizing senior healthcare accessibility, Chapter Medicare, a leading Medicare broker headquartered in New York, has successfully raised $50 million in its Series C funding round.
Maritime technology startup Vanguard has successfully secured US$1 million in new funding aimed at advancing its automated insurance underwriting platform for maritime operations.
Led by Portage with participation from AV8, Distributed Ventures, and Detroit Venture Partners, CoverTree launches an enterprise suite to provide homeowners with leading quality insurance coverage.
London-based insurtech company Eleos has raised US$4 million in a seed funding round to support its planned expansion into the United States.
Israeli insurtech company Honeycomb has secured US$36 million in a Series B funding round, the company has announced.
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.
London-based insurance startup Urban Jungle is set to announce a new funding round of approximately $14 million this week, according to a Sky News report.
FlashAid, a Mumbai-based healthcare and insurtech startup, announced it has raised $2.5 million in a pre-Series A funding round.
PCF Insurance Services, a top 20 U.S. insurance brokerage, has secured US$400 million in additional debt financing.
UK Insurtech firm PeppercornAI has successfully raised US$4 million in funding, with investments coming from Wealth Club, EHE, and Angels Invest Wales.
Faura, a startup focused on building resilience in the property insurance sector, has raised $500,000 in its first round of funding.
Rainwalk Technology, a leading white-label pet insurance technology provider, has announced the successful completion of a $4 million Seed funding round.
Estaly, a French insurance startup, has secured US$3.8 in seed funding from OneRagtime, CDG Invest, and approximately 20 angel investors.
AI insurance ventures experienced an 18% year-on-year increase in funding in 2023, raising nearly $2 billion through private equity and venture financing, according to GlobalData’s Technology Foresights model.
London-based startup Unwritten, previously known as Dovetail Finance, has completed a seed funding round, raising $3.5 million.
Jensten, a leading UK-based broker and underwriting group, has secured US$211 million in new borrowing facilities, and has announced it is pledging $1.2 million towards launching new brokers.
ICEYE, a global leader in satellite-powered disaster management solutions, has finalised a definitive agreement for an oversubscribed US$93 million growth funding round, with Solidium Oy at the forefront.
Health insurance claim assistance platform ClaimBuddy has successfully concluded its Series A funding round, securing a significant US$5 million investment.
Pula, a Kenyan-based insurtech firm, has successfully raised US$20 million in Series B funding to bolster its efforts in providing agricultural insurance to farmers in Africa, Asia, and Latin America.
2024 has seen a raft of impressive investment rounds hitting the headlines. Are we in full-blown investment recovery? Or is this a slowdown rebound? Insurtech Insights rounds up the top funding events.
Hudson Structured Capital Management Ltd. (HSCM), a leader in reinsurance, insurtech, insurance-linked securities (ILS), and transportation investments, has successfully raised more than $175 million for the launch of its new life insurance-focused continuation fund, HS Mohawk Fund I LP.
The Achmea Innovation Fund has announced its investment in Laka, a pioneering European micromobility insurer, as part of its strategic move towards fostering smart and sustainable mobility solutions.
Brazilian insurtech startup Akad has successfully raised US$22.5 million in Series A funding, with Valor Capital Group and Across Capital serving as co-leads in the investment round.
Novidea, the pioneer of cloud-based, data-driven enterprise insurance management platforms, has raised an additional US$30 million from HarbourVest Partners.
Australian insurtech startup Honey Insurance, has raised US$108 million in its Series A funding round, attracting significant interest from investors in the United States.
Canadian insurance sector, Summit, a burgeoning insurance brokerage, has successfully raised US$3.5 million in Seed funding.
CrashBay, the pioneering digital marketplace for collision repair solutions, has announced the successful closure of a $1.25 million funding round. Spearheaded by venture capital firm Markd, this funding round also saw participation from key figures in the collision and insurance industries.
Security and risk management startup SydeLabs announced their seed funding round of $2.5m to build solutions aimed at securing GenAI systems for enterprises.
Oka, a leading provider of carbon credit insurance, announced the successful completion of a $10 million funding round.
Qoala, a prominent Indonesian insurance startup, has successfully closed a funding round, raising an impressive US$47 million.
German insurtech startup ELEMENT has secured €50 million in funding from Versorgungswerk der Zahnärztekammer Berlin K.d.ö.R. and Alma Mundi.
Sertis, a Managing General Agent (MGA) specialising in property owner coverage, has successfully secured $3.2 million in a recent funding round.
Insurtech Coterie, which specialises in services for small businesses, has successfully secured a substantial US$27 million in funding during a post-Series B round.
Empathy, a pioneering company revolutionising the approach to grief and loss, announced the successful closure of a US$47 million Series B funding round, spearheaded by Index Ventures, alongside notable contributions from General Catalyst, Entrée Capital, Latitude, and Brewer Lane.
Sostengo, a leading insurtech based in El Salvador, has successfully closed a financing round amounting to $3.8 million, aimed at fueling its user growth across Latin America.
Vouch, a leading provider of business insurance services tailored for high-growth companies, has announced the successful closure of a $25 million Series C-1 funding round, with Ribbit Capital leading the investment.
The U.S. Federal Emergency Management Agency (FEMA) has solidified its commitment to bolstering the National Flood Insurance Programme (NFIP) by obtaining $575 million in reinsurance coverage through insurance-linked securities (ILS) reinsurance.
IDfy, a trailblazer in the realm of identity verification, has secured a substantial financial injection of $27 million in a recent funding round, signifying a pivotal moment for the company’s trajectory.
Fijoya, a specialised platform catering to health and wellness services tailored for employers, has successfully raised $8.3 million in a recent seed funding round.
Agio Ratings, a London-based startup specializing in crypto risk analytics, has announced a successful fundraising round totaling $4.6 million.
Sweet Security, an Israeli startup specialising in addressing cloud risks for companies, has successfully raised US$33 million in a Series A funding round.
Bluecyber.insure, a prominent player in the Insurtech sector specialising in cyber insurance within Brazil, has successfully secured a substantial financial boost, raising US$1.5 million in investment.
Healthee, a healthcare navigation startup formerly known as Insurights, has successfully raised $32 million in its latest Series A funding round.
The past month has seen some incredible funding results in the insurtech space. Insurtech Insights finds out who is catching investment interest – what their building, and why
Greek insurtech takes proactive stance against climate change, targets central and southern European markets
B2B Insurtech Coverdash has announced the successful closure of a significant US$13.5 million Series A funding round.
Intenseye, a leading provider of workplace safety solutions, has successfully closed a Series B funding round totaling $64 million.
Yurtle, a London-based insurtech focused on alleviating caregiver burnout in workplaces, has successfully concluded a Seed funding round amounting to £1.37 million.
Brazillian insurtech Loovi has successfully secured US$9 million in funding from prominent investors Marçal Holding and Oliveira Participações.
Hearing health startup Tuned has successfully closed a $3.2 million seed extension round, with Unum Group leading the investment and Distributed Ventures also participating.
Berlin-based insurtech Embea has successfully concluded its seed funding round, securing €4 million in investments.
Armilla AI has successfully concluded a US$4.5 million seed funding round. The funding initiative, led by Mistral Venture Partners, garnered significant support from key players such as MS&AD Ventures, SixThirty Ventures, Morgan Creek Digital, and Y Combinator.
KYND, a leading provider of cyber risk management solutions, has announced a significant investment from Verisk, aimed at driving its expansion and growth trajectory.
Rasa, a leading conversational AI platform, has successfully raised $30 million in a Series C funding round. The investment round was co-led by StepStone Group and PayPal Ventures, with notable participation from Andreessen Horowitz, Accel, and Basis Set Ventures.
Cake, a transactional marketplace tailored for independent insurance agents, has closed a pre-seed funding round, raising $1.3 million.
Insurtech startup Buddy has raised US$7 million from 49 investors, bringing its funding total to $8 million
Bupa has announced the establishment of a US$20 million venture capital fund, known as Bupa Ventures, aimed at backing Australian healthcare startups.
Lloyds Development Capital Limited (LDC), a mid-market private equity house and subsidiary of Lloyds Banking Group, has thrown its investment weight behind Uinsure – a cloud-based insurtech that connects financial intermediaries and lenders with a panel of the UK’s insurers.
MediConCen, an InsurTech company specializing in AI and blockchain-driven insurance claims automation, has secured $6.85 million in its latest Series A funding round.
Shepherd, a leading insurance technology platform catering to the commercial construction sector, announced today the successful closure of a $13.5 million Series A funding round.
Kin Insurance has secured a significant investment of US$15 million from Activate Capital, a new investor in the company.
Insurtech investment has seen a lot of challenges over the past 12 months, but January 2024 has seen some impressive raises from seed to series B. Insurtech Insights reports.
Insurtech Wisedocs has announced the successful conclusion of its Series A Funding Round, raising US$9.5 million.
AI-powered insurtech Indemn has closed a US$1.9 million pre-seed funding round – a milestone that highlights that Indemn’s commitment to revolutionising how people engage with and purchase insurance coverage through the integration of AI.
Switzerland-based startup CarbonPool, founded by former Allianz executives, has successfully concluded a significant funding round aimed at revolutionising the carbon credit market.
AVLA, a leading provider of surety and trade credit solutions, has successfully raised $25 million in funding from prominent investors, including Creation Investments Capital Management, DEG Invest, and Altra Investments.
MIC Global, a leading microinsurance provider, has announced the successful closure of a US$6 million seed funding round, signalling a significant milestone in its growth trajectory.
Porch Group, the parent company overseeing insurer/MGA Homeowners of America, has announced a landmark “strategic business collaboration agreement” with Aon and Aon Re, marking a significant development in the insurance landscape.
The past three years have been a rollercoaster ride for insurtechs globally. Gil Arazi, Founder & Managing Partner of FinTLV, gives Insurtech Insights his ‘eye-of-the-storm’ perspective.
Ansel, formerly known as Brella, is making strides in transforming the supplemental insurance landscape by securing a US$20 million funding round led by Portage.
Spotr, an innovative Dutch AI-powered property data platform, has successfully secured €4.5 million in funding.
Bharatsure, the Mumbai-based Insurtech startup that specialises inproviding Infrastructure-as-a-Service (IaaS) solutions tailored for insurance distributors, has successfully raised US$1 million (approximately 8.3 crore), with Capital-A taking the lead.
hyperexponential has raised US$73 million in capital in its Series B funding round, led by Battery Ventures, with participation from leading Silicon Valley investor a16z, and existing Series A investor Highland Europe, which increased its holding., three years after its Series A round.
Private investment firm Gallatin Point Capital and insurer American Family Insurance Group have successfully finalised a new partnership with reciprocal Insurer, Trusted Resource Underwriters Exchange (TRUE), in a US$1.25 billion deal.
Devoted Health, the tech-enabled Medicare Advantage startup, has successfully secured US$175 million in fresh funding.
Bain Capital Insurance has embarked on a significant venture with a US$200 million investment to establish The Mutual Group, an innovative insurance platform poised to transform the landscape of mutual insurance.
Mumbai-based insurtech startup Finhaat has successfully raised US$3 million (approximately INR 25 Crore) in a seed funding round.
Redactable, a cutting-edge AI-driven web application specialising in the redaction of sensitive documents, has successfully raised $5.5 million in seed funding.
OneDegree, Asia’s pioneering licensed insurer for digital assets, has joined forces with Dubai Insurance Co. to introduce digital asset insurance in the United Arab Emirates (UAE).
The Toronto-based startup Terminal is on a mission to become the Plaid for telematics data in the commercial trucking industry, as it successfully closes a US$3.1-million ($4.2 million CAD) seed round.
BirdsEyeView, an insurtech startup backed by the European Space Agency, has successfully concluded a funding round, securing a significant seven-figure investment.
McKenzie Intelligence Services (MIS), a provider of geospatial data and analysis for insurers responding to catastrophic events, has successfully secured a strategic investment from Maven Capital Partners (Maven), a prominent private equity firm specialising in fast-growing businesses in the UK.
Mulberri, a cutting-edge AI-driven embedded business insurance platform tailored for small and medium enterprises (SMEs), has officially declared the successful closure of its Series A funding round, securing US$6.75 million.
Singapore-based insurtech startup Igloo has raised $36 million in pre-Series C funding led by Eurazeo’s insurance tech fund.
Ondo InsurTech PLC (LSE: ONDO) has successfully raised US$1.3 million through a placement completed yesterday after the close of the market.
New York-based private equity firm Lightyear Capital LLC to join forces with existing investor BHMS Investments, LP in fuelling Inszone Insurance Services’ growth
Balderton Capital leads investment round as Lassie aims to transform the pet insurance landscape
After raising almost half a billion dollars from investors across two funding rounds, bolttech has secured its reputation as a market leader.
CatX, a platform designed to facilitate the flow of alternative capital into the insurance sector, has successfully raised $2.7 million in seed funding.
CoverSelf, the unified platform revolutionising healthcare claims and payment integrity, has announced the extension of its seed round to US$8.2 million, attracting renewed interest from existing investors and prominent figures in the healthcare industry.
London-based Insurtech startup, Diesta, has successfully concluded its seed funding round, securing an impressive $1.9 million in capital.
Insly, a software provider specialising in low/no-code technology platforms, has successfully raised US$1.8 million in venture debt funding from Hambro Perks.
Paris-based insurtech Flitter has successfully secured €3.5 million in a recent funding round aimed at expanding its usage-based car insurance offerings.
The insurtech landscape experienced a significant milestone in the third quarter of 2023, surpassing the US$1.1 billion mark in new funding.
wefox has secured a substantial boost with $55 million in fresh funding from Deutsche Bank and UniCredit, according to reliable sources familiar with the deal as reported by CNBC.
Cowbell, the cyber insurance provider, has secured US$25 million in fresh funding in a round led by Prosperity7 Ventures, alongside contributions from both new and existing investors.
Next Insurance has raised US$265 million in a strategic investment round, marking a significant milestone for the insurtech company.
Atlanta-based Insurtech firm Layr has successfully secured US$10 million in funding round led by Cota Capital.
Generali has committed €250 million to its venture fund, Generali Ventures in a move to boost innovation in the insurtech and fintech sectors.
Sprout.ai, a leading insurtech specialising in claims automation, has successfully raised US$6.5 million in a funding round, with notable participation from venture capital investors Amadeus Capital Partners and Praetura Ventures.
Previsico has officially gone live in New York with its advanced flood forecasting technology, aiming to mitigate future losses following the recent record flooding that impacted major infrastructure, including LaGuardia Airport and John F. Kennedy Airport.
LegalTech Nuvalaw, the claims resolution platform that facilitates the online negotiation and arbitration of P&C insurance claims, has raised US$3million in pre-series A financing.
Massachusetts-based startup Boundless Rider has successfully raised US$4.25 million in a recent funding round, led by American Family Ventures.
October has seen a raft of incredible funding events across all sectors. From pre-seed to B rounds, millions of dollars of capital are being invested in this dynamic and scaling space.
UK-based insurance startup Assureful has successfully secured $1.5 million in a pre-seed funding round, with Markd leading the investment and Greenlight Re Innovations participating.
Upfort, a San Francisco-based cybersecurity and insurance provider, has successfully raised $8 million in a Series A funding round.
Kota, previously known as Yonder, has successfully concluded a US$5.2 million (€5M) Seed funding round, marking a significant milestone in its mission to streamline and automate insurance and retirement benefits for modern teams.
Insurtech startup QuoteWell has raised US$15 million in its Series A round – an investment that will be used to expand and scale the startup.
Canopy Connect, the leading platform for collecting, verifying, and monitoring insurance information has announced the closing of a US$6.5 million Series A funding round.
UK Insurtech start-up Laka has successfully raised US$8 million in a recent funding round, led by the French mobility fund Shift4Good.
Singapore-based cyber risk management firm, Protos Labs, has triumphantly concluded its seed funding round, raising US $2.1 million (SGD $3 million).
ClimateTech firm Previsico, renowned for its live flood alert solutions, has successfully concluded its latest funding round, marking a substantial increase in valuation compared to the previous round in August 2021.
Bikmo, the insurtech company that provides coverage to Deliveroo’s fleet of bikes and e-bikes, has successfully secured US$4.1 million (£3.4 million) in funding.
Veruna has announced the successful closure of its Series B fundraising round, raising a substantial $10 million.
iink Payments, a digital payments network specialising in expediting fund disbursements related to multi-party property insurance claims, has successfully raised $12 million in a Series A financing round.
Prove, a leading provider of digital identity solutions, has successfully concluded a funding round, raising $40 million. The funding round was led by MassMutual Ventures and Capital One Ventures.
Pantomath, a leading “data pipeline observability and traceability platform,” has raised US$14 million in its Series A funding round.
Howden, the prominent UK insurance broker, has successfully secured £500 million in insurance capacity from a consortium of Lloyd’s of London firms.
Raising capital in these challenging times is an impressive achievement. Insurtech Insights rounds up the latest investment events in Insurtech
Vellum Insurance, a cutting-edge provider of data and analytics solutions for the insurance and reinsurance sector, has emerged from stealth mode with a successful US$7 million seed funding round.
Scription, an emerging Insurtech company based in Alberta, has successfully concluded its recent funding round, securing an impressive US$2.5 million in capital.
Matic Insurance has successfully raised an additional US$20 million in an extension of its Series B funding round.
Egyptian startup Amenli has raised US$1 million in equity funding, to scale its North African operations.
Indian insurtech InsuranceDekho has announced the successful completion of its Series B funding round, raising an impressive US$60 million.
Onsurity, a startup specialising in employee healthcare benefits, has successfully secured $24 million in its latest Series B funding round.
Reserv, a frontrunner in AI-powered insurance claims processing, has successfully concluded its Series A funding round, securing $20 million to enhance its generative AI tools for claims data analysis.
Cyber insurtech leader Coalition has announced a strategic partnership with MS&AD Insurance Group, the largest non-life insurer in Japan and across the ASEAN region, to provide cybersecurity monitoring solutions to small and medium-sized businesses (SMBs).
Insurtech startup Allium Data, Inc., has announced the conclusion of its pre-seed funding round, amassing a US$750,000 in financial backing.
BeSafe Group, a leading travel-insurtech company headquartered in Rome, has successfully closed a €3 million round in Series A funding.
Root, the comprehensive digital insurance platform, has revealed its expansion plans for the UK and Europe following its latest funding success.
Atlanta-based company Safely has successfully secured $8 million in funding, with Highgate Technology Ventures leading the investment and participation from LAGO Innovation Fund.
Previsico has announced the completion of its latest funding round, at a significantly higher valuation than the prior one in August 2021.
Fernride, a cutting-edge German startup based in Munich, has successfully raised an impressive $50 million in funding for its innovative self-driving trucks initiative.
Markel, a prominent specialty insurer, and cutting-edge insurtech firm Cytora have unveiled the extraordinary outcomes of their collaborative effort, which have led to an astounding 113% increase in productivity (Gross Written Premium per Full-Time Equivalent) for Markel’s underwriting team.
Authentic, the turnkey insurance platform catering to vertical Software-as-a-Service (SaaS) enterprises, has successfully raised US$5.5 million in seed funding.
In a significant financial development, home insurance startup Openly has successfully raised $100 million in its latest Series D funding round, with Eden Global Partners spearheading the investment.
Singapore-based insurtech leader, bolttech, has successfully raised $50 million in its latest Series B funding round, with impact investment firm LeapFrog Investments at the helm of this strategic investment.
Kayna, the Cork-based award-winning embedded insurance infrastructure platform, has closed a US$1.06 million pre-seed funding round.
European insurance giant Talanx has initiated a €300 million capital raising effort aimed at expanding its free float, a strategic move to bolster the liquidity of its shares and solidify its standing in equity indices.
Redkik has announced it is joining forces with Lockton Companies, the world’s largest privately held insurance broker, in an exciting strategic partnership with McLeod Software.
In a recent undisclosed series funding round, cybersecurity insurance startup Stoïk has successfully raised $10.7 million, with contributions from both existing investors such as Alven and Andreessen Horowitz, as well as new backers, including Munich Re Ventures and Opera Tech Ventures.
Hong Kong-based virtual insurer, Bowtie, has announced the successful conclusion of a Series B2 funding round, raising a substantial $34.9 million in capital.
Leading P&C insurtech Hippo has come under scrutiny, after a concerned shareholder group sent an open letter to the company’s board of directors.
Benekiva, a leading provider of innovative digital claims automation and optimisation solutions, proudly announces the appointment of Tony Diodato as its new Chief Revenue Officer.
Hub International Limited (HUB), a leading global insurance brokerage, announced today that it has successfully completed a substantial minority investment from Leonard Green & Partners, L.P. (LGP), along with several other prominent institutional minority investors.
In our latest insurtech investment funding round-up, we look at SEVEN companies that have raised significant amounts of capital that will drive their scaling strategies and disruption in the industry.
Delos Insurance Solutions, a pioneering player in the insurance industry, has successfully concluding a seed extension funding round, amassing an impressive US$7.3 million in investments.
The direct-to-consumer home insurance company, Kin, has raised US$33 million in its Series D funding round extension.
Nomura has announced an equity investment into Prismic Life Reinsurance, Ltd. (Prismic), a licensed Class E Bermuda-based life and annuity reinsurance platform, alongside Prudential Financial, Inc. (US) (“PFI”), Warburg Pincus and other investors.
Private specialty insurance group, Coaction Global, has secured approximately US$200 million in a recent capital injection to propel its evolution into a comprehensive specialty insurance provider.
DGTAL, a pioneering insurtech specialising in AI-powered tools for insurance portfolios, has successfully secured US$3 million in strategic funding from various investors.
Inari, a Barcelona-based insurtech that provides core technology infrastructure for the global insurance and reinsurance sectors, has raised US$5.2 million in funding through a seed round led by Caixa Capital Risc in partnership with Criteria Venture Tech.
The latest data from Swiss Re suggests the non-life reinsurance sector will continue to see growth, as insurers proactively anticipate and manage risks to catastrophic events.
CLARA Analytics, a leading provider of artificial intelligence (AI) technology for insurance claims optimisation, today announced its $24 million Series C funding, bringing its total funding to $60 million.
Guy Carpenter, a leading global risk and reinsurance specialist, has introduced the latest iteration of its catastrophe analytics platform, GC AdvantagePoint.
Catching the interest of an investor is a hard task in these times. But many companies are still attracting successful funding events. Insurtech Insights talks to investors and insurtech startups to find out what makes a startup an attractive investment prospect.
News regarding the future of funding is consistently gloomy, but insurtech startups and more established insurance companies are still winning new investment. Insurtech Insights has rounded up some of the biggest investment events to have taken place this month.
Newfront, the tech-driven insurance brokerage firm based in San Francisco, has introduced a powerful Total Rewards dashboard.
SpyCloud, a leading force in operationalising identity analytics for automating digital identity protection, has secured US$110 million in its latest funding drive.
Irys Insurtech, Inc. has successfully concluded a seed funding round, amassing an impressive US$3.5 million.
India-based Square Insurance Brokers, a firm authorised by IRDA under the Insurance Brokers Regulations of 2002, has just added another feather to its cap.
Venteur, the digital health startup helping companies provide personalised health insurance options to their employees, has closed a seed funding round at $7.6 million.
The Liberty Company, a prominent property/casualty insurance broker headquartered in Florida and renowned as one of the largest in the nation, has triumphantly unveiled its accomplishment in securing a substantial US$340 million funding injection.
FINEOS has impressively clinched a $40m investment to fortify its financial foundation in its latest funding drive.
The Demex Group, a tech-driven managing general agent (MGA), has successfully raised $5 million from a consortium of both existing and new investors, led by Blue Bear Capital.
On-demand insurance platform INSHUR has appointed Chris Wells as President of its fully owned Third-Party Administrator (TPA), Genoteq Claims Investigations.
The Berlin-based insurtech startup SureIn has closed a €4M Seed round for its mission to provide end-to-end insurance solutions to small and medium-sized businesses (SMBs).
Nubank, one of the world’s largest digital financial services platforms, launched Nubank Lar Seguro, a home insurance offering, in partnership with Chubb, the world’s largest publicly traded property and casualty insurer. Nubank Lar Seguro will become available to eligible customers in Brazil over the next few months.
Waterdrop Inc., a leading technology platform focused on insurance and healthcare services, recently introduced an innovative digital intelligence-powered risk management approach at the 2023 Inslab Insurance Technology Festival in Zhejiang province, China
Nuveen and Nuveen Green Capital have launched a new fund, which has started with $525 million from six major insurance companies.
FloodFlash, the first insurance technology company to offer sensor-enabled parametric flood insurance, has today announced a new partnership with Hiscox.
Resilience, a leading cyber risk solution company headquartered in San Francisco, has successfully raised $100 million in a Series D equity financing round.
As the latest industry reports show insurtech funding to be falling, recent investment rounds, including several startups in the Middle East and Africa, are bucking the trend and scaling fast.
Private equity firm Bain Capital has successfully raised $1.15 billion for its inaugural fund dedicated exclusively to investments in the insurance industry.
Hailstone Labs, a prominent Web3 venture studio based in Hong Kong, has recently announced a strategic investment in OneDegree Group, an insurtech company with a strong presence across Asia.
Sivan Iram launched Capitola – an insurtech digital marketplace that connects brokers and underwriters – in 2021. In April, the startup generated US$15.6 million in its Series A round. Insurtech Insights finds out more.
Sigo Seguros, a rapidly expanding insurtech company renowned for its Spanish-first approach, delivers auto insurance services predominantly for immigrant and working-class communities.
Hepster, a leading embedded insurance startup, has raised $11 million in its latest funding drive and has emerged as a key player in the rapidly advancing insurtech landscape.
Qover, a leading insurtech specialising in embedded insurance orchestration, has recently concluded a successful Series C up-round funding, securing an impressive $30 million.
Guy Carpenter, a global risk and reinsurance specialist and subsidiary of Marsh McLennan, has finalised its acquisition of Re Solutions, an independent reinsurance broker headquartered in Israel
Last month, the insurtech sector saw more than 30 funding events take place globally. We’ve rounded up eight of the biggest funding events that span the insurance industry sectors.
Federato, an innovative Insurtech firm, introduced as the insurance industry’s premier RiskOps underwriting platform, disclosed today a successful $25m Series B fundraising round.
London, UK – Rnwl, a groundbreaking insurtech company dedicated to streamlining insurance purchase and management, has introduced its latest feature, ‘Instant Quotes,’ as the first in a series of innovative product line enhancements.
Reask, a prominent ClimateTech company specialising in natural hazard modelling, has recently announced a strategic partnership with InsurTech MGA Kettle.
Insurtech Insights talks to top CIDO and financial technology leader Ericson Chan, who shares his unique perspective on the future of insurtech
Atlanta-based insurance company Accelerant has successfully raised $150 million in a recent funding round led by Barings LLC, a global investment firm owned by MassMutual.
Slide Insurance, an InsurTech firm with a specialised focus on homeowners insurance, has announced a noteworthy stride in its financial journey.
Brent Williams entered the insurance industry 20 years ago, and since then, has accumulated a wealth of experience in insurance and financial services consulting.
Cover Whale Insurance Solutions, the commercial trucking insurance provider and rapidly growing insurtech, has has surpassed the £500 million mark in all-time written premiums.
Swiss Re has unveiled the 11th edition of its SONAR report, providing valuable insights into the evolving landscape of emerging risks.
Breach, an insurtech start-up that is building insurance technology and products for the growing cryptocurrency market, has been approved by the Bermuda Monetary Authority (BMA) to launch a new class IIGB insurer.
Reask, a climate analytics and technology-driven risk modelling firm, has successfully raised a total of £6.55m in investment funding, with its recent seed round attracting £4.6m.
Precedent, the insurance industry’s first Digitised Demand Handling technology, announced today that it has closed $9 million in Seed funding, provided by Adir Ventures (Adir).
Life5, formerly known as Getlife, has successfully raised $10.8 million in funding from investors Singular, Mundi Ventures, and Global Brain (Sony Financial Ventures).
Thinksurance, an InsurTech firm specialising in digital insurance consultations, has successfully raised a hefty €22m in its latest funding round.
Andrey Koptelov, an innovation Analyst at Itransition, discusses the transformational benefits of adopting RPA in the insurance industry.
Sami, a pioneering Brazilian insurtech and primary care startup, has successfully raised $18 million in their Series B funding round.
The London-based motor insurtech company, Marshmallow, has announced a significant milestone in its growth journey with the procurement of a $18.6 Million three-year revolving credit facility from investment firm Triple Point Private Credit.
Munich Re Ventures has led a US$10 million Series A funding round for the digital-first travel insurtech, Faye.
Insurtech Obie has raised $25.5 million in its Series B funding round, following a $10 million Series A raise in 2021.
Embedded Insurtech bolttech has successfully raised US$196 million in its Series B funding round, putting the company’s valuation at $1.6 billion.
Israeli insurtech Novidea just raised US$50 million in investment capital and is scaling fast. CEO and Founder, Roi Agababa tells us more
Global InsurTech funding has surged by 37.6% in the first quarter of 2023, according to the latest Global InsurTech Report from Gallagher Re.
Marble, a digital wallet and loyalty platform for insurance, has secured $4.2m in funding from a round led by Distributed Ventures.
Ventures (BTV), a broker-led convening platform and accelerator program, has joined hands with InsurTech venture capital investor ManchesterStory Group to launch the BrokerTech Fund, LP.
Novidea, a leading insurtech provider of a cloud-native, data-driven insurance management system, has announced that it has raised US$50 million in Series C funding.
Investment might be sluggish, but innovative startups with solid offerings are still attracting new capital. April 2023 saw Nayms, Capitola, YellowBird, Axle, Justos and Arma Karma attract healthy funding rounds
Nayms, a blockchain insurance startup, has announced a successful funding round at an $80 million valuation through a private token sale.
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