Insurance agents spend hours handling paperwork and grabbing client information over the phone. A new seed-stage startup, InsurGrid, has developed a software solution to help ease the process, and make it easier for agents to serve existing clients — and secure new ones.
ALL LATEST FUNDING ROUNDS
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Hepster, an insurtech platform from Germany, has raised $10 million in a Series A funding led by Element Ventures. Also participating was Seventure Partners, MBMV, and GPS Ventures, as well as previous investors.
A technology-enabled insurance firm in Alpharetta raised $3.5 million, according to a March 3 U.S. Securities and Exchange Commission filing.
Hippo Enterprises Inc., a home-insurance startup, agreed to go public through a merger with Reinvent Technology Partners Z, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors.
Symbo’s technology platform is used by individual agents, third-party administrators, brokers and corporates across India and Southeast Asia to distribute, purchase and administer a wide range of insurance products spanning life and general insurance.
Oscar Health Inc., a health insurance startup backed by Google parent Alphabet Inc., sold shares in its initial public offering (IPO) on Tuesday at $39 apiece, above its target range, to raise $1.2 billion.
A company best known for insuring people’s teeth is getting an investment from a company better known for insuring homes and cars.
TypTap Insurance Group, Inc., is pleased to announce that a fund affiliated with Centerbridge Partners, L.P. has invested $100 million in the company. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million.
Farmers Edge Inc. raised about C$125 million ($100 million) in its Canadian initial public offering after selling shares at the top end of its marketed range, according to people familiar with the transaction.
Reinsurer Munich Re has agreed to back the launch of a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson.
Healthcare’s Latest Unicorn: Big Data Startup Innovaccer Raises $105 Million At $1.3 Billion Valuation
On the heels of a year that saw a record amount of venture cash flow into healthcare startups, investor appetite for healthtech does not appear to be waning.
Devoted Health, a startup that sells health insurance to seniors, quietly raised $380 million last year, three people familiar with the matter told Insider. The round, led by Uprising, closed in July 2020, two people close to the company said. The sources were not authorized to speak on the record.
Zelros Raises $11 Million in Series A Funding to Bring AI-Powered Responsible Insurance Distribution to North America
French insurtech startup paves a path to automation and innovation for insurers.
My Policy, a leading UK provider of data analytics and telematics insurance, announces today an investment by Zurich Group, as part of which Zurich will become a long-term insurance capacity provider, joining an existing panel of insurers to enable rapid growth of My Policy’s recently launched usage-based insurance (“UBI”) product, JURNY.
Access to capital and insurance are some of the factors affecting not only peasant farmers but commercial farmers in Africa. A large majority of farmers in Africa still use hoe and cutlass and farm largely to feed their households and sell the surplus for cash.
Funds raised will help startup access new markets, finetune software that helps banks and insurers offer clients personalized pricing and products
A blank-check firm, backed by AmTrust Financial Services Inc. CEO Barry Zyskind, is looking to raise $300 million through an initial public offering, a regulatory filing showed on Friday.
Just five months after raising $250 million at a $2 billion valuation, Israeli insurtech company Next Insurance is working on another funding round, this time at a valuation of $4 billion, a person familiar with the move told Calcalist under the condition of anonymity
The IPOs of several insurance companies, such as Lemonade Inc (NYSE: LMND), in 2020 may lead to additional companies in the sector hitting the public market in 2021. Companies could explore a traditional IPO or a SPAC deal to bring their insurance companies public.
Leading online InsurTech company Waterdrop Inc. is reported to be in full preparation for a U.S. initial public offering (IPO) in the next quarter. According to Jiemian News, this development follows a recent valuation of the company at a total worth of tens of billions of dollars, citing people familiar with the matter.
Sweden’s Insurely Raises €2.5M to make the Insurance Industry more Transparent, Accessible; Here’s How
Stockholm-based Insurely, a digital insurance platform, has raised €2.5M in a fresh round of funding. The round was led by Swedish venture capital firm Luminar Ventures.
Berkshire disclosed a new $499 million stake in the professional services company Marsh & McLennan Cos.
Thailand-based insurtech platform AppMan announced it has raised US$4.6 million in its series A funding round from Siam Alpha Equity’s SME Growing Together 1 fund, Krungsri Finnovate, Casmatt, KTBST, and Poems Ventures, the venture arm of PhillipCapital Group.
Leading workers’ comp billing platform allows insurance providers to build a best-in-class solution for their policyholders
Pawlicy Advisor, the leading pet insurance marketplace, announced today it has raised a $6.5 million Series A funding round led by Rho Capital Partners and existing investor Defy Partners. The round also included significant investment from Slow Ventures. This brings the company’s total funds raised to $8 million to date.
Livelii, Canada’s first community-based platform that intersects Insurtech and Fintech to provide affordable Health Insurance and critical Financial tools to Independent workers is listing a securities offering via the online crowdfunding platform, FrontFundr.
The Israeli founded insurtech company is in negotiations with SPAC Reinvent Technology Partners, that includes Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors.
Talem Health Analytics has revealed that it has closed a $2.3 million seed round, which the insurtech hopes to use to accelerate the launch of its AI platform to the auto insurance industry.
Oscar Health filed preliminary paperwork for an IPO on Friday. The health insurance startup is betting that its technology can give it an edge as it fights for market share with bigger competitors.
SmartHop announced today that it raised $12 million in a Series A round, bringing the company’s total funding to date to $16.5 million. The round was led by Union Square Ventures, whose past investments include Stripe, Twitter, Coinbase, Etsy, MeetUp, SkillShare and Duolingo, among others.
Additional funding will be deployed into select startups whose solutions, technology, and capabilities can benefit Nationwide customers.
WeSure Global Tech, the parent company of digital insurance company WeSure, has published a prospectus for an Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE). The company plans selling a 20% stake for NIS 100 million (or £22 Million) at a company valuation of NIS 500 million(or £110 Million), after money.
The pay-per-mile pioneer completed its business combination with INSU Acquisition Corp. II, a publicly traded special purpose acquisition company sponsored by Cohen & Company, LLC.
Marble, the first digital wallet and loyalty platform for insurance, today announced $2.5 million in seed round funding.
Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay debt.
Gentem Health Inc., a Silicon Valley-startup focused on helping private practices thrive financially, has raised a $10 million Series A financing round, bringing total investment to $13.7 million.
Ushur, the no-code intelligent automation company, today announced a $5M addition to its over-subscribed $25M Series B funding in November 2020. Aflac Ventures and Iron Pillar participated in the round. This brings the total amount of the Series B to $30M, and Ushur’s cumulative funding to $41.5M.
Phable, a three-year-old health tech startup that is serving patients with chronic illnesses in India, has raised $12 million in a new financing round as it looks to scale in the world’s second most populated nation.
Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter.
Oscar Health, a health insurance start-up backed by Google parent Alphabet Inc, filed for an initial public offering on Friday, looking to cash in on the surge in demand for digital health services during the COVID-19 pandemic.
Eusoh is a radical new model that offers customers the same protection as best in class insurance products, but at a game changing price discount that is sustainable. This will have a significant impact on many lines of insurance.
PasarPolis Raises US$5M from World Bank’s International Finance Corporation to Democratise Insurance
The investment in PasarPolis is the first IFC has made in the insurtech sector in Indonesia, where insurance penetration rate remains low
CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp, in a deal that valued the data and technology provider to auto and insurance firms at about $7 billion.
LeaseLock, the world’s leading insurtech platform for real estate, today announced the closing of a $52 million Series B financing that will expand its industry-leading lease insurance product into the first AI-powered financial technology platform for enterprise real estate. LeaseLock has insured $1 billion in leases to-date, across the nation’s largest multifamily operators and preeminent asset owners.
TrustLayer, the collaborative risk management platform, today announced it has completed a $6.6 million seed round of financing. Abstract Ventures led the round with participation from Propel Venture Partners, NFP Ventures, BoxGroup, and Precursor Ventures. The round was heavily oversubscribed, a reflection of the strength of TrustLayer’s current compliance software and its success in developing a digital proof of insurance solution.
Global insurtech funding reached $7.12 billion across 377 deals, the most in any year to date, per Willis Towers Watson (WTS).
Metromile has attracted $50 million in new investment from a former Uber executive even as it has obtained regulatory approval to formalize a reverse merger deal that will make it a publicly-traded company.
FinTLV, a Tel Aviv-based fund that specializes in FinTech and InsurTech companies in their “growth stage” phases, announced in a press release that it has closed a new $120 million fund, FinTLV II.
Global insurtech investment reached a record $7.1 billion in 2020 despite substantial challenges to the re/insurance sector, according to a new report by Willis Towers Watson.
Berlin-based insurtech startup INZMO has closed a €3.1 million seed round led by Change Ventures. Swiss insurance company Helvetia, an existing backer from the pre-seed round in 2018, also participated.
Company aims to eliminate $1 trillion in healthcare waste annually by bringing transparency and consumer behavior to opaque US healthcare market
Insurance SaaS software provider Insly has secured a seed extension of 1.3M EUR from existing VCs Concentric and Uniqa Ventures, with participation from The British Business Bank’s Future Fund Scheme. Combined with solid results for 2020 – €72K in profits and €3.4M in revenues – this will pave the way for scaling up the business in 2021.
Pula, a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million.
HSBC Holdings Plc and Malayan Banking Bhd.’s insurance venture are among shortlisted bidders for AXA SA’s business in Singapore, which could raise about $700 million in a sale, according to people familiar with the matter.
Aviva announced it is expanding its investments in fintech and insurtech through a collaboration with venture capital firm Anthemis. The aim is to “transform its customer experience through innovation.”
The funding round was led by XBTO, alongside other top investors across insurance, capital markets and crypto such as Coinbase Ventures, Maven11, the founders of Synthetix and Insurtech Gateway, who co-founded the project with CEO, Dan Roberts, from day one.
Insurtech startup Leocare, which offers a ‘modern’ way to get homes, cars, motorbikes and smartphones insured, is raising €15 million from Felix Capital, Ventech and Daphni to fuel its growth.
Paris-based neo-insurer Lovys has announced that it has secured €17 million in Series A funding from Heartcore, NewAlpha, Raise Ventures and prior backers Maif Avenir, Portugal Ventures and Bpifrance.
Global specialty insurer and reinsurer, Canopius Group, is reportedly in discussions about a potential public offering that could value the Lloyd’s of London player at over £2 billion (USD 2.7bn), according to Sky News.
Indian insurtech firm Digit Insurance announced it has raised 135 crore rupees (US$18.5 million) from existing investors, bringing its valuation to US$1.9 billion and achieving unicorn status.
Digital insurer Lemonade has announced plans to sell 3 million shares of common stock to raise money for “general corporate purposes.”
International brokerage Howden Group Holdings has completed its first underwriting capital investment, with an $84 million investment in support of DUAL Group’s reinsurance arm, Tamesis DUAL Ltd.
Loop Insurance, a B-Corp auto insurance MGA that leverages AI, big data, and telematics to create more ‘fairly’ priced insurance products, announced it has closed a $3.25 million seed round.
New York-based health insurtech Oscar bagged $140 million in its latest funding round—trailing its $225 million haul just five months ago. For context, Oscar offers health insurance plans in 18 states and 286 counties across the US, which include individual, family, small group, and Medicare Advantage offerings.
Closes Series B Only Six Months Following Series A Round, a Testament to Openly’s Rapid Customer Adoption and Dedication to Empowering Independent Agents through Technology.
B3i Services AG has recently completed the first closing of its Series B funding round. In addition to further investments from existing shareholders, Türk Reasürans has become the latest investor in B3i. This continues to expand B3i’s global footprint to include 21 insurers and reinsurers from five continents with offices in over 100 countries.
The Insurtech M&A Market Report from international technology mergers and acquisitions advisors, Hampleton Partners, forecasts a record 95 or more M&A deals in 2020, with 48 already banked in the first half of the year. Volume has more than doubled since the year 2013, which saw 46 insurtech transactions.
Life insurance startup Bestow brought in its second investment in 2020, this time a $70 million Series C funding round.
A technology that makes selling vehicle insurance policies and solving claims more effective has been funded by angel investors from Estonian unicorns and a customer.
Travel and fintech startup Battleface has won the backing of Drive Capital in a Series A round to the tune of $12 million.
Backed by Elefund, Fremont Group, Human Capital, and other investors, the Embedded Insurance® technology company is expanding its platform.
Cybersecurity insurance startup At-Bay has raised $34 million in its Series C round, the company announced Tuesday.
Getsafe, the digital-first insurance startup that initially launched with an app for home contents insurance, has closed $30 million in Series B funding.
French insurtech company Luko has raised €50 million in Series B funding led by EQT Ventures. Existing investors Accel, Founders Fund and Speedinvest also participated in the round, alongside angels with insurance and technology backgrounds, including Assaf Wand, the CEO and co-founder of US unicorn Hippo Insurance.
Artivatic.ai, an asset-light insurtech and healthtech startup, has raised bridge funding led by Scale Ventures and existing investor IAN. The funding proceeds will be utilized by the startup for research and development by investing in cutting-edge technology solutions, especially aimed at scaling sales and delivery.
Asistensi receives the support of Mundi Ventures and Mountain Nazca to accelerate its international expansion.
Insurtech Metromile announced Tuesday that it is the latest fintech to go public via a SPAC (special purpose acquisition company) at a valuation of $1.3 billion.
Spanish insurtech start-up Bdeo, the leading firm of its kind in Spain and Latin America, is in the process of launching and building a team in the UK following a €5m raise
Pier, leader in full-stack insurance in Latin America, has recently received a US$ 14.5 million Series A investment led by monashees — pioneer venture capital fund in Latin America, leader in unicorn creation — and with the participation of Canary, Mercado Livre and BTG Pactual
Hippo Insurance, the well-known insurtech that offers homeowners insurance, has raised fresh capital as it weighs going public next year
On a mission to revolutionise corporate health insurance, Indian employee insurance provider Plum has announced fundraising of $4.1 million, led by Sequoia Capital India’s Surge and Tanglin Venture Partners
NY-based cloud-based platform for managing the entire insurance distribution lifecycle, Novidea, has announced the successful completion of $15 million in Series B financing
Metromile is revolutionizing the fragmented $250+ billion U.S. personal auto insurance market with real-time digital auto insurance personalized for low-mileage drivers. About two-thirds of U.S. drivers are considered low-mileage and could be overpaying for auto insurance because they do not pay per mile
Tencent Holdings Ltd. is investing about $150 million in Waterdrop Inc. to bankroll the Chinese startup’s expansion in health-care crowdfunding, according to people familiar with the matter
“We are committed to maintaining our strong position of financial stability and flexibility, while continuing to allocate capital to the highest ROIC (return on invested capital) opportunities.”
Mumbai-based online insurtech startup Turtlemint has raised $30 Mn in Series D funding round led by GGV Capital, American Family Ventures, MassMutual Ventures and SIG
The company currently partners with Aetna, Cigna, United, Oxford, and Oscar
Buoy Health, a startup that makes a widely used Covid-19 symptom checker, has raised $37 million from investors including the venture arms of major insurers Cigna Holding Co., Humana Inc. and UnitedHealth Group.
Mind Foundry, an Artificial Intelligence (AI) company that spun out of the University of Oxford’s Machine Learning Research Group (MLRG), today announced it has raised an additional $13.6 million in Series A funding.
Based in Hong Kong, Coherent helps insurance providers go digital. With their services more relevant than ever during the COVID-19 pandemic, the startup announced it has raised $14 million in new funding. The Series A round, led by Cathay Innovation with participation from Franklin Templeton, will be used to grow Coherent’s client base in Asia, including insurers who want to add more digital services to their usual sales processes because of the pandemic.
Laka, a collective-based insurer of cyclists, has today publicly launched its funding round with Seedrs and already smashed the £1million target as people recognise the pandemic’s effect on altering people’s mobility plans.
Insurer American International Group Inc., which plans to separate its life and retirement business from the rest of the company, said on Friday it was considering options for the business, including an initial public offering or a stake sale of nearly 20%.
AI leader Ushur today announced $25M in Series B funding, fueled by a rapidly modernizing insurance industry and a growing demand for self-service customer experiences.
When it comes to using algorithms and other formulae to determine what kinds of services you might offer to specific customers and at what price,
Through a round led by Cathay Innovation, the firm seeks to enable the digital transformation of the enterprise in insurance, financial services and other industries.
The Series C funding will be used to accelerate innovation by giving consumers a cutting-edge means of sharing health data with the enterprises and researchers
The investment round will be used to recruit top-tier talent and aggressively expand Assurely’s technology infrastructure and to bring more products to market rapidly. Assurely,
Superscript, the business insurance challenger, has announced a new £8.5 million fundraise, led by existing investor, BHL Holdings, alongside investment from the Government’s Future Fund,
Automobile insurance startup Root Inc sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4
In collaboration with Willis Re, Willis Re Securities says it has structured and placed $100 million of insurance-linked securities (ILS) for Minnesota Life, a life
Insurtech firm Cover Genius has teamed up with Intuit to offer a new parametric earthquake policy, which is backed by capacity from Swiss Re and
Cohere Health Closes Additional $10 Million in Funding to Accelerate Delivery of Patient Journey Platform for Better Healthcare Quality and Outcomes
The funding will be used to enhance the company’s scalable CohereNext platform that is built on next-generation cloud and data technologies and provides interoperability to
An entrepreneur who started health benefits company Definity Health and sold it to UnitedHealth Group for $300 million is looking to shake up the health
Automobile insurance startup Root Inc said on Tuesday it plans to raise as much as $604.1 million in its initial public offering on the Nasdaq,
Insurance tech company Cover Genius has scored $15 million in fresh funding from King River Capital and Leap Capital as it looks to win more
Home services and insurance start-up Hometree has raised £7 million in a funding round that will help it capitalise on a spike in demand amid
Australian insurtech startup Integrity Life has announced a $43 million series B round of funding, raised before and during the COVID-19 pandemic. The majority of
The health care company, in talks with an affiliate of the billionaire Chamath Palihapitiya, hopes to use the money to fuel growth and achieve profitability.
Health tech funding snapshot—Bright Health lands $500M to expand into employer-based insurance; PicnicHealth scores $25M PicnicHealth was founded to help patients with chronic or complex
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