BeSafe Group, a leading travel-insurtech company headquartered in Rome, has successfully closed a €3 million round in Series A funding.
ALL LATEST FUNDING ROUNDS
We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
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 Invests in Prismic Life Reinsurance: Boosts Combined Initial Equity Investment to US$1 Billion
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.
Coaction Global Raises US$200 Million in Funding to Boost Transformation into Full-Service Specialty Insurance Provider
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.
Spanish Insurtech Inari Secures US$5.2 Million in Funding to Advance Innovative Insurance Technology
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 Launches Digital Intelligence-Driven Risk Management Solution at Inslab Insurance Technology Festival
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.
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.
LEADERSHIP SPOTLIGHT: Ericson Chan, Zurich’s Group Chief Information & Digital Officer, Talks Innovation, Trends & Talent
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’s Emerging Risks Report: Threats Arise from Technological, Geopolitical, & Societal Changes
Swiss Re has unveiled the 11th edition of its SONAR report, providing valuable insights into the evolving landscape of emerging risks.
Insurtech Start-Up Breach Launches Carrier, Raises Investment Round Led by RW3 and LightShed Ventures
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 Closes US$9 Million in Seed Funding Round as It Introduces Capability to Digitise Demand Handling
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.
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.
Cover Genius report says consumers prefer CFAR protection for live event tickets or booking airfare and accommodations
A new report from Cover Genius has revealed a new customer trend. Data gleaned in the expensive study shows a strong marketplace preference for ‘Cancel for Any Reason’ (CFAR) cover when booking airfares, accommodation or event tickets.
Strategic priorities in the global insurance sector are shifting as firms increase their focus on operational resilience, according to new research from AutoRek, a reconciliation and finance automation fintech
Aviva is increasing its investment in Aviva Ventures by US$185.5 million, with the aim of investing in early stage businesses that offer new opportunities and insights into emerging technology and customer trends.
Koala, a Paris-based insurtech startup specialising in travel insurance technology, has successfully raised US$2.1 million in a recent funding round.
Investment in the start up space might well have slowed down, but insurtech unicorns are still a serious force to be reckoned with. We take a look at 12 US insurtech unicorns that are leading the disruption.
The Indian payments firm PhonePe has secured US$200 million in funding to launch insurance and wealth offerings
Founded out of Berlin in 2017, Medwing targets the healthcare industry in Germany and the U.K. with a platform designed to match hospitals and clinics with nurses and elderly caregivers, though it also caters to pharmacists, midwives, doctors, and similar professionals.
Pravina Ladva, Group Chief Digital & Technology Officer of Swiss Re writes about the importance of ‘co-opetition’ within the growing digital ecosystem
Lexasure Financial Group, a leading provider of reinsurance and digital insurance solutions in Southeast and South Asia, and Capitalworks Emerging Markets Acquisition Corp., a publicly traded special purpose acquisition company organized in the Cayman Islands to effect a merger, stock exchange, asset acquisition, stock purchase, recapitalization or other similar business combination, today announced a definitive business combination agreement to provide Lexasure with a path to becoming a publicly listed company through a new Cayman Islands holding company, Lexasure Financial Holdings Corp., that will acquire both Lexasure and CEMAC.
Allianz Group has announced the creation of Allianz Commercial, a global commercial insurance segment encompassing its AGCS business serving large corporate clients and its businesses serving mid-sized, country-based accounts.
Monnai, a provider of consumer insights infrastructure for financial institutions, has raised $6.5 million in a Series A funding round led by Tiger Global.
38M in series B funding, led by Octopus Ventures.
CyberSmart has raised 12.75 million pounds (about $15 million) in a Series B round.
The company — which provides cybersecurity solutions for small- to medium-sized businesses (SMBs) — will use the new capital to expand its business internationally and build out its cyber insurance offering, according to a Thursday (Feb. 23) blog post by Oxx, which led the funding round.
It’s only human nature. If you tell a driver their insurance premium will go down if they drive more safely, then – it turns out – they will probably drive more safely. Scale that up to entire commercial fleets and the costs saving can become extremely significant. However, the trick is to do the tracking in the first place.
US-based VC firm Altai Ventures has launched a new US$53mn fund to invest in early-stage insurtech startups, with the backing of Bain Capital Ventures.
The South African insurtech startup Naked, which is xpowered by artificial intelligence (AI) and provides customers with a new, entirely digital approach to insure their vehicles, houses, and belongings, has acquired US $17 million in Series B investment to fuel its expansion.
Asset-Map Holdings, Inc. (“Asset-Map”), the premier financial advice engagement experience for financial professionals, today announced the close of a $6 million Series B funding round.
Millennials and Gen Zers will represent 75% of the U.S. workforce by 2025 and will come to represent a huge chunk of the buying power in the economy. Industries across the board are adjusting to this vastly different consumer market, and insurance is no exception.
SalesRiver, an enterprise sales enablement platform for distributed sales teams, announced today that it has secured a $3.95mm Series A investment led by Mucker Capital.
Betterview, an InsurTech that provides property risk intelligence, has closed a round of funding.
PhonePe, one of India’s largest fintech platforms, has announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.
Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7m in funding and launched its platform
Zurich-headquartered startup TONI Digital has secured $12.5 million in a Series B funding round.
ESP Logistics Technology Has 1st Closing on $5.0m Series A Round with Japan Post Group As Lead Investor
ESP Logistics Technology (ESP), a company dedicated to solving global supply chain problems through our cloud-based geospatial platform, announced that it conducted a 1st closing on its Series A financing. Japan Post Capital Co., Ltd (Japan Post Group), a company group with global logistics reach and extensive supply chain operations, led the round.
Insurance technology company Joyn Insurance announced today that it exceeded its fundraising target with a $17.7 million Series A funding round led by OMERS Ventures with participation from Avanta Ventures, ManchesterStory, Cohen Circle, SiriusPoint and several private individual investors.
actyv.ai, a Singapore-headquartered, category creator in the enterprise SaaS with embedded B2B BNPL and insurance space, has raised a total of $12 million as part of Pre-Series A funding round from 1Digi Ventures, Singapore, the family office of Raghunath Subramanian, Founder and Global CEO of the company.
The MGA will use the funds for personnel, to finish its development roadmap, expand its product base, and increase marketing and sales efforts to add agents to its ecosystem.
Alicia, an insurance-as-a-service provider for independent contractors with headquarters in Rotterdam has raised €7M in a Seed round of fundraising.
Vertical insure , the embedded insurance platform for vertical SaaS platforms, today announced its $4 million seed round co-led by rally ventures and dundee vc . Vertical Insure provides vertical SaaS platforms with embedded, white label insurance products that can be deployed to their current customer base.
$10 Million in Funding, new Patent for AI Technology, Product Innovation, and Executive Hire with Deep AI Experience Mark Another Successful Year for the Company
Evertas, “the first cryptoasset and blockchain insurance company,” has closed a $14 million funding round led by Polychain Capital, with participation from SinoGlobal Capital, CMT Digital Ventures, Foundation Capital, Morgan Creek, Bloccelerate, network0, Matrixport, HashKey, and several individual investors.
Claims Carbon, a Stockholm-headquartered software business that helps insurance firms assess the carbon footprint of their value chains, has announced a €1.1 million seed raise led by Helsinki investment firm Vaens.
Surround Insurance, an InsurTech passionate about changing the insurance experience for consumers in their 20s and 30s, has raised $2.5m in seed funding.
Send’s core product is a SaaS underwriting workbench designed to streamline operations, automate admin-heavy tasks and free up underwriters to focus on core work.
InsurTech Otonomi has raised $3.4 million in order to build a blockchain-powered parametric cargo platform, according to a company press release.
Anzen, a US insurance startup focused on executive liability, has raised $10 million in fresh funding.
Kin Insurance announced the closing of a $145 million committed credit facility. The new facility, which was led by Runway Growth Capital LLC and the Avenue Venture Opportunities Fund, L.P., provides Kin with additional capital to support the expansion of the Kin Interinsurance Network, a reciprocal exchange.
The company’s emergence as a unicorn is surprising when taking into account the slowdown in fund raising and that it had a valuation of just $22 million last year.
Insurtech and parametric cargo insurance platform, Otonomi has announced that it has closed a $3.4 million funding round to build a first-to-market blockchain-powered parametric cargo platform.
bolttech, one of the world’s fastest growing international insurtech companies, today announced Tokio Marine, alongside other shareholders, will lead bolttech’s Series B funding round.
Re, a blockchain-powered reinsurance company, has raised $14 million in seed-round funding to build a decentralised system for investors which will allow them to gain exposure to “a massive and uncorrelated asset class” that is insurance premiums.
French insurtech startup Olino scores €2.2 million to bolster its embedded insurance product for European SMEs
Paris-based insurtech company Riskee is changing its name to Olino and announcing the close of a €2.2 million funding round to accelerate its growth.
Our investors have been instrumental to our growth and continued innovations,” Thomas continued. “We are excited and humbled to work with such great partners and look forward to continued growth.”
AIG Inc’s life insurance and retirement division Corebridge Financial Inc raised $1.68 billion on Wednesday in the biggest initial public offering (IPO) so far this year, braving market volatility and ending a seven-month lull in major listings.
Insurtech CoverTree Acquires $10M In Funding, Introduces Digital Manufactured Home Insurance – Crowdfund
Detroit-based InsurTech CoverTree has raised $10m in a seed funding round and launched a home insurance offering.
Insurance industry leaders RGAX, Securian Financial and Siriuspoint join existing investors HCS Capital and Westdale Properties and a Tier 1 Canadian bank to round out the $18M Series A funding for PolicyMe.
Planck Raises $71M to Date to Expand its First-to-Market Cognitive Business Analytics Platform.
South Korean digital insurance carrier Carrot General Insurance (“Carrot” or the “Company”) today announced it has secured a fresh funding of 300 billion Korean won.
Lloyd’s of London (SOLYD.UL) has set aside 1.1 billion pounds ($1.26 billion) to pay claims related to the war in Ukraine, the commercial insurance market said on Thursday, as it recorded a first-half pre-tax loss of 1.8 billion pounds.
Business-to-business (B2B) SaaS insurance startup MetaMorphoSys has raised $3 million in funding led by Info Edge-backed technology fund Capital2B. Angel investors such as Pavitar Singh and Dhruv Dhanraj Bahl participated in the funding.
Digital private health insurer Ottonova has closed its Series F financing with an equity raise of €34 million. The current round is led by private equity investor Cadence Growth Capital (CGC). In addition, existing investors and a Munich-based family office are participating.
The company, co-founded and headed by Israeli Jonathan Matus, has developed AI-powered risk and pricing models that have been trained with nearly 200 billion miles of driving data and tested over five years of operations.
Insurtech Ledgebrook raises $4.2M to provide a best-in-class quoting experience to wholesale brokers
Ledgebrook, an insurtech MGA startup focusing on middle market E&S, has closed a $4.2M seed round led by Brand Foundry Ventures alongside American Family Ventures.
Indian insurer Digit has filed for an initial public offering, looking to raise about $440 million even as many of its local peers have deferred plans to list publicly in the South Asia nation.
Modern Life (New York), a tech-enabled life insurance brokerage for advisors, announced that it has exited stealth with $15M in seed funding. Thrive Capital (New York) led the funding with participation by founders of Hippo, Plaid, Reddit, Flatiron Health, Newfront, At Bay, Vouch, Cedar, and Lattice.
For many businesses, obtaining or renewing cyber insurance has become expensive and arduous.
Cyber insurance and security provider, Coalition, has appointed Jim Young as its first Chief Financial Officer (CFO) after raising $250m in a Series F funding round.
Pie Insurance has parnered with Talage, Bold Penguin and Tarmika as part of the insurtech’s growth strategy.
Axio, a platform for cybersecurity risk evaluation, today announced the closure of a $23 million Series B round led by Temasek’s ISTARI, with participation from investors NFP Ventures, IA Capital Group and former BP CEO Bob Dudley.
Right from the launch of its first product in 2020, Kenyan insurtech Lami Technologies set out to increase insurance penetration in Kenya and the rest of Africa.
JAROWA has successfully closed its Series A funding round, led by Eos Venture Partners, a strategic venture capital fund focused on InsurTech. The proceeds will be used to further expand JAROWA’s offering throughout Europe.
Mulberri, a pioneering insurtech and business insurance platform for modern PEOs and brokers, has announced that it has raised a $4 million Series Seed led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio).
Wallife, the Italian insurtech startup that protects individuals from new risks originating from technological and scientific progress in the areas of genetics, biometrics and biohacking, today announced the close of a €12 million investment round led by United Ventures, the Italian venture capital firm specialising in digital technology investments.
Cinven private equity firm has raised more than 37 billion euros since its inception in 1977. Headquartered in London, it now operates internationally across nine locations.
European insurance tech startup Wefox has raised $400 million in a series D round of funding, giving the German company a post-money valuation of $4.5 billion. This represents a 50% increase on last year’s $3 billion valuation at its series C round.
Coalition Closes $250 Million in Series F Funding, Valuing The Cyber Insurance Provider At $5 Billion
Coalition, the world’s first Active Insurance company designed to prevent digital risk before it strikes, today announced it has raised an additional $250 million to accelerate its rapid growth, power international expansion, and broaden the services Coalition offers to help organizations manage digital risk.
Since departing his role as Casper CEO in 2021, Philip Krim has spent the majority of his time investing and incubating companies via Montauk Ventures. The latest is an insurance company called Ranger, which aims to elevate the agents in the insurance industry, rather than replace them.
Tech-driven insurance company YuLife will use its new capital to fundamentally change how people and businesses around the world derive value from financial products.
In just one year since its launch, Paris-based insurtech startup Orus has raised €5 million. The company is aiming to reinvent professional insurance for small businesses, providing a tailored service to underserved players.
Insurtech startup Upcover has raised $2.7 million in a Seed funding alongside $2 million in debt as it looks to transform the small business insurance sector.
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.
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.
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