The funding surge continues into Q2
Continuing the trend of a record-breaking quarter in Insurtech funding (see our coverage here), insurance solutions providers Qover and Arturo have each raised $25m in Series B funding.
Qover, headquartered in Brussels and specialising in business insurance, counts Revolut and Deliveroo among their highest profile clients. Their funding round is led by Cathay Innovation, alongside Arthemis and Alven.
Quentin Colmant, Qover CEO, is ambitious about their growth, saying that “[their] mission is to connect all the platforms to our fully embedded insurance solution.”
Arturo, an analytics-driven property insurtech based in Chicago, has seen their funding round led by Atlantic Bridge Capital alongside RPS Ventures, Crosslink Capital and IAG Firemark Ventures.
Marsh partners with Chubb to participate in Covax
Marsh, the specialist insurance broker and risk advisory firm, is partnering with Chubb to insure the Covax No-Fault Compensation Programme.
Covax is an initiative led by The World Health Organization, CEPI the Coalition for Epidemic Preparedness Innovation, Gavi and Unicef to broaden access to the vaccine to 92 developing countries.
The partnership is providing $150m (£107m) in insurance for injury claims related to Covax. This is the first time that an injury compensation scheme has been rolled out internationally.
Ramage appointed as LMA Legal Director
The Lloyd’s Market Association (LMA) has announced that Arabella Ramage, currently general counsel for International Insurance and Reinsurance at AXA XL will be their Legal Director.
After 20 years at AXA XL, she succeeds Klees van der Klugt – he is preparing to retire after 10 years in the role.
Matt Kenyon is a content producer at Insurtech Insights.
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