PCF Insurance Services, a top 20 U.S. insurance brokerage, has secured US$400 million in additional debt financing.

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.

London-based startup Unwritten, previously known as Dovetail Finance, has completed a seed funding round, raising $3.5 million.

Health insurance claim assistance platform ClaimBuddy has successfully concluded its Series A funding round, securing a significant US$5 million investment.

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.

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.

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.

Greek insurtech takes proactive stance against climate change, targets central and southern European markets

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.

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.

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. 

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.

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. 

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.

Mumbai-based insurtech startup Finhaat has successfully raised US$3 million (approximately INR 25 Crore) in a seed funding round.

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).

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

CatX, a platform designed to facilitate the flow of alternative capital into the insurance sector, has successfully raised $2.7 million in seed funding.

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.

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.

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.

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.

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.

UK Insurtech start-up Laka has successfully raised US$8 million in a recent funding round, led by the French mobility fund Shift4Good.

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.

Pantomath, a leading “data pipeline observability and traceability platform,” has raised US$14 million in its Series A funding round.

Raising capital in these challenging times is an impressive achievement. Insurtech Insights rounds up the latest investment events in Insurtech

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.

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. 

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.

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. 

The direct-to-consumer home insurance company, Kin, has raised US$33 million in its Series D funding round extension.

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).

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.

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.

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).

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. 

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.

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.