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Insurtech firm Yokahu to be part of ninth cohort of Lloyd’s Lab
15th September 2022
Insurtech firm Yokahu has been selected for inclusion in the ninth cohort of the Lloyd’s Lab to develop a new parametric loan default protection product. A statement from the firm said the product had been selected after a competitive pitching process. It will be embedded into, or alongside, a loan such ... Read the full article
Insurtech Waterdrop adds Swiss Re Asia exec to board
8th September 2022
Waterdrop, the Swiss Re-backed technology platform for insurance and healthcare services, has announced the appointment of Wenjie Guan to its board of directors. Guan currently serves as Head of Principal Investments and Acquisitions North Asia at Swiss Re, and will take up her board position from September 7th. Prior to joining Swiss ... Read the full article
AccuRisk Holdings invests in insurtech MyHealthMath
5th September 2022
AccuRisk Holdings, a leader in health solutions innovation has announced an investment in insurtech firm, MyHealthMath. MyHealthMath combines the power of big data and mathematical modeling with personalised live engagement to give employees, employers, carriers and consultants unparalleled healthcare benefits decision support. The company is based in Poland, Maine, and has direct ... Read the full article
Kojo founder highlights changing relationship between insurers and insurtechs
25th August 2022
The founder of Kojo, Lara Varjabedian has released a report highlighting the changing relationship between insurers and insurtechs, noting the key friction points and the growing demand for partnerships rather than competition. The gap of understanding between insurers and insurtechs is shrinking, says Varjabedian, as insurers are gaining insurtech experience, and ... Read the full article
Insurtech Accelerant launches $175mn reinsurance sidecar vehicle
24th August 2022
Insurtech platform Accelerant has launched a new $175 million sidecar investment vehicle, called Flywheel Re. The new sidecar will provide multi-year risk capital to Accelerant and its cohort of underwriting-led specialist members. Goldman Sachs & Co. LLC served as exclusive placement agent to Accelerant and Sidley Austin LLP acted as legal counsel. Founded ... Read the full article
Insurtech investments fall by 80% in 2021: GlobalData
19th August 2022
According to GlobalData, insurtech investments fell by 79.6% in 2021, leading to job losses and tough economic conditions in 2022. GlobalData’s Deals Database reveals that the value of global investments in insurtech fell by 79.6% in 2021. This follows a consistent flow of stories of insurtechs struggling in 2022. Recently, Lemonade cut ... Read the full article
Insurtech startup Ledgebrook raises $4.2m in seed funding
18th August 2022
Boston-based insurtech, Ledgebrook, has announced that it has raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022. The company plans to start by launching a broad-appetite E&S GL product to establish its value prop to wholesale brokers ahead ... Read the full article
Insurtech startups shift focus to profitability: S&P
17th August 2022
A recent S&P Global Market Technology report suggests insurtech startups have shifted from a "growth at all costs" mentality to one more focused on profitability. Full-stack companies, or those that have licensed carrier subsidiaries, will require profitable underwriting and investing to achieve this goal, though the report says this may prove ... Read the full article
Tokio Marine Asia partners on insurtech investing with Arbor Ventures
12th August 2022
Tokio Marine Asia has announced a strategic partnership with Arbor Ventures, a leading global Fintech/InsurTech-focused venture capital (VC) firm headquartered in Singapore. The partnership marks Tokio Marine’s commitment to accelerating the digital transformation of the global insurance industry. The union was established through Tokio Marine’s Innovation Lab in Singapore. In April 2022, ... Read the full article
Convex makes “strategic investment” in insurtech Quotech
4th August 2022
Specialty insurance and reinsurance company, Convex Group Limited, has made a “strategic investment” and acquired a 7.7% share in Quotech, an underwriter-led insurtech. Quotech has raised one million pounds from a number of angel investors and Convex, who has become the lead investor. Proceeds from the funding round will be used to ... Read the full article
Insurtech investments up to $2.4 billion in Q2 2022, says Gallagher Re
4th August 2022
Investment in the insurtech space in the second-quarter of 2022 increased by 8.3% from the opening quarter of the year to $2.41 billion, as a rise in the average deal size masked a decline in the overall number of deals, according to reinsurance broker Gallagher Re's latest Global Insurtech Report. Despite ... Read the full article
Insurtech Mulberri raises $4mn Series Seed
29th July 2022
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). In a press release, it notes ... Read the full article
Swiss Re GBS India and T-Hub partner to boost insurtech innovations
28th July 2022
Swiss Re Global Business Solutions (GBS) India, an analytics and innovation hub of Swiss Re, and T-Hub an innovation hub and ecosystem enabler, have announced a partnership aimed to improve innovation in the insurtech sector. Based in Hyderabad, T-Hub is the world’s largest innovation campus, according to the business incubator; it ... Read the full article
Insurtech Gateway completes first close on Seed Fund II
22nd July 2022
Insurtech Gateway, an independent insurtech incubator authorised by the FCA, has announced the first close of Seed Fund II. According to the announcement, this funding will allow the Gateway to support another 20 teams over the next 4 years from pre-seed to Series A. Insurtech Gateway was founded in 2016 with a ... Read the full article
Munich Re syndicate backs new spot-cargo insurtech
11th July 2022
Munich Re Syndicate, the Lloyd's of London Marine & Specialty underwriter of reinsurance giant Munich Re, is set to back MiKargo247.com, a new insurtech, created specifically for one-way, spot-cargo freight. MiKargo247.com will aim to provide freight brokers, 3PLs and motor carriers with access to insurance that protects cargo and helps it ... Read the full article