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Policybazaar has raised $75 million as the Indian online insurance platform looks to expand its presence in UAE and Middle East. billion people currently have access to insurance and some analysts say that digital firms could prove crucial in bringing these services to the masses. “India has an under-penetrated insurancemarket.
The answer informs how you integrate innovation into your operations and balance competing priorities to drive long-term success. For us, that means remembering our core mission: providing risk management and insurance solutions to our customers in a way that helps them protect their businesses and families.
If you think embedded insurance is the only hot thing in insurtech these days, we’ve got a surprise in store for you: While it’s true that startups that help sell insurance together with other products and services are enjoying tailwinds, there are plenty of other opportunities in the space, several investors told TechCrunch+.
Based in Hong Kong, Coherent helps insurance providers go digital. 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.
Choosing an insurance policy is one of the most complicated financial decisions a person can make. The startup, which says it is the country’s largest direct-to-consumer insurance marketplace, announced today it has raised a $9 million Series A. PasarPolis also partners with Gojek to offer health and accident insurance to drivers.
Cybercrime is on the rise, and today an insurance startup that’s built an artificial intelligence-based platform to help manage the risks from that is announcing a big round of funding to meet the opportunity. “Underwriting cyber insurance for SMEs is a more dire prospect than for large enterprises,” he said. .
Vouch , a provider of business insurance to startups and high-growth companies, announced today it has raised $90 million in new funding. While there are many insurance technology companies out there that serve consumers, there are far fewer that offer it to companies, much less startups. Insurtech is hot on both sides of the Atlantic.
Branch Insurance , a startup offering bundled home and auto insurance, has raised $50 million in a Series B funding round led by Anthemis Group. He then went on to build Esurance’s first online home insurance business. We are a full-stack insurance company transforming the way people think about their home and car insurance.”.
TrustLayer , which provides insurance brokers with risk management services via a SaaS platform, has raised $6.6 Twenty of the top 100 insurance agencies in the U.S. (as BrokerTech Ventures (BTV), a group consisting of 13 tech-focused insurance agencies in the U.S. million in a seed round.
Life insurance has had a new lease on life in the era of insuretech, and today one of the companies building a business out of rethinking everything — from target customers through to how to provision and pay for insurance, and how much coverage to give — is announcing some funding on the back of strong growth.
million equity funding, and $275K grants from various entities such as the Google Black Founders Fund, Africa Business Heroes by Jack Ma Foundation, FbStart, and Lafiya Innovators by Impact Hub. It recently entered the Kenyan market to tap the growth of its agriculture sector. The startup has so far raised $1.7
Insurance lags behind other financial services in the adoption of digital technologies. Granted, a few unicorns have popped up from the modern digital insurance space such as Tractable and Lemonade; however , this sector hasn’t raced to the stage as quickly as say, payments or lending. Image Credits: Root.
It was way back in 2018 that Omni:us appeared to disrupt the insurancemarket by applying AI to this most legacy of all industries. startup aims to do something similar, but this time it will be coming out of the key market of the U.K., where the insurance industry is enormous. to speed up insurance claims.
Alan has been building health insurance products from scratch. When I first covered the company back in 2016 , the startup had just managed to get approval from regulators to become an official health insurance company. Like other insurance companies, Alan has some capital requirements to comply with health insurance regulation.
“Challenger” startups in banking and insurance have upended their industries, and picked up significant business, by building more customer-friendly tools and services — more personalized, easier to access and usually competitively priced — than those typically provided by their bigger, incumbent rivals.
Coverdash , providing small businesses, e-commerce merchants and gig-economy workers with insurance, launched its product in all 50 states after closing over $2.5 Coverdash’s insurance policy dashboard. Meanwhile, the new funding will be used for go-to-market initiatives, product and technology development and hiring.
Set for Tuesday 19 November, the CIO100 ASEAN Awards event will bring together the top senior technology executives and teams in Southeast Asia and Hong Kong driving innovation and influencing rapid change. Our Next CIO winner will be an individual who exceeds expectations while driving innovation through their organisation.
Curacel , the YC-backed startup that is developing insurance infrastructure for the African market, has launched a new interface that allows digital businesses like those in retail, fintech, e-commerce and logistics to add insurance to their core products. without the outsized market of South Africa.
But with the region’s thirst for innovation, the market is expected to expand nearly tenfold over the next decade, with open banking through the use of APIs leading the way and acting as digital transformation facilitators. Fintech regulations in Latin America could fuel growth or freeze out startups.
CEOs, CIOs and CFOs are finding that deep tech is actively driving business innovation and profitability. From lab to market at lightning speed Not long ago, cutting-edge research might take decades to translate into real-world products. The path from lab to market keeps shortening.
Traditionally viewed as rock-solid and steady, the insurance industry is not exactly associated with taking big risks. We’ve broken up a large entity that required people to wait in line and put delivery people working on applications, business process improvement, and fintech innovation back in the hands of the business.”
CIO ASEAN is proud to announce the winners of the 2024 CIO100 Awards – recognising the top technology leaders and teams across Southeast Asia and Hong Kong who are driving innovation and influencing rapid change. These are in addition to CIO100 awards in the US, UK, and the Middle East. …
Taking a holistic approach to enterprise AI However, when AI is implemented effectively it can dramatically enhance productivity and innovation while keeping costs under control. AI in action The benefits of this approach are clear to see. 4] On their own AI and GenAI can deliver value.
Tokio Marine , a Tokyo-headquartered insurance corporation, said Tuesday it has launched its $42 million corporate venture capital (CVC) fund, dubbed Tokio Marine Future Fund, to invest in early-stage startups around the world. . Corporate venture capital follows the same trend as other VC markets: Up.
Collie believes it’s far more productive to ask business leaders about their own jobs, including their view of market trends and the key business challenges they’re facing. He adds that silos can also be a major hinderance to innovation and employee upskilling.
Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance. We nailed how to disrupt it in our core market,” Teicke said. But what makes Wefox different from legacy insurance companies? We’re tackling that $5.2
The insurance company decided to migrate from on-premises BMC Remedy to cloud-based BMC Helix ITSM and Discovery. About the author: Stela Udovicic is the senior director, solutions marketing management at BMC Software Visit here for more information or contact BMC.
For us, its about driving growth, innovation and engagement through data and technology while keeping our eyes firmly on the business outcomes. Its impossible to drive meaningful innovation if you dont understand how the business works and what its core purpose is. Being in IT has never been just about technology.
Those that innovate now to introduce adjacent services will emerge as winners in the next few years, with some inevitably becoming billion-dollar companies. This is particularly common in the commodities market, where futures contracts specify a commodity to be delivered on a certain date in the future.
As the markets turned early this year, insurtech left most generalist investors’ playbooks almost as fast as Metromile and its peers’ plummeting valuations. If you are solving a real pain point as an enterprise software company, tech providers or insurers might be interested in acquiring you.
For a sector that has enjoyed a year in the sun , recent trading sessions have punctured a period of market adoration. It is too soon to say that the market is repricing tech stocks, but the selloff has reached the point of materiality and is therefore something we need to note. The now-infamous ARK Innovation ETF is off 6.5%
For CIOs, the message was clear: Efficiency, future-ready technology, and innovative workforce strategies are essential. CIOs should drive technology-enabled sustainability initiatives, such as green logistics , ensuring supply chain visibility and security will help meet regulatory requirements and improve brand reputation and market growth.
Most people in Africa wish to utilize various insurance products but are often deterred by the associated high premiums. It is, therefore, not surprising that insurance penetration across the continent remains marginal, with reported premiums per capita being 11 times lower than the world average, according to a McKinsey study.
Like many legacy markets poised for change, the insurance industry has already seen its first wave of innovation. brought a centuries-old product into the digital era by giving customers a way to apply for insurance online. That’s because insurance, fundamentally, is about risk.
There is an imbalance between demand and supply of general insurance due to the tedious workflow and processes that insurance intermediaries and insurance companies face. . trillion general insurance industry. . Hong Kong insurtech startup Coherent gets $14 million Series A led by Cathay Innovation.
A savvy CIO must go beyond traditional expectations, driving innovation and aligning technology with business strategy to deliver measurable business value. The next step is to blend this understanding with technology-driven innovation to create new revenue streams, strengthen the companys competitive position, and leapfrog the competition.
The funding was led by Tokio Marine, Japan’s first insurance company, and life insurance leader MetLife through its subsidiary MetLife Next Gen Ventures. Bolttech’s Series B is closed to new interest from the market, but we continue to engage with the investor community in case of future opportunities,” he told TechCrunch.
“Soci became an essential partner to brands for this transformation, which led to an increased need for brands to turn to technology to manage their presence in local digital market channels.” Khoury says he was inspired to found Soci by the dearth of options for brands to manage their presence across digital marketing channels.
For over 130 years, Hastings Mutual Insurance Company has served and protected its clients throughout the Midwest. Hastings management decided on a proactive approach, taking on the challenge of modernizing its existing mainframe operations to an open-source environment to remain competitive in future markets.
As private health insurers weather industry headwinds, strategic transformation priorities remain firmly centered on operations and patient-centric experiences that accelerate efficiencies. health insurers as industry leaders work to improve operations, efficiency, and effectiveness. Leading Digital Transformation for U.S.
Reports say healthtech in Africa should reach a market value of over US$11 billion by 2025 and Reliance Health is looking to play a pivotal role in the continent reaching that capitalization. It uses an integrated process to provide health insurance and telemedicine via partnerships with hospitals and healthcare facilities. “So
As businesses strive to meet changing consumer demands and navigate a competitive landscape, AI is emerging as a key driver of innovation in finance. By harnessing predictive analytics, fintech firms can anticipate market shifts and consumer behavior, enabling them to make informed decisions and craft targeted marketing strategies.
The first tranche of $19 million was announced in March, and led by Cathay innovation with participation from ACA and returning investors OpenSpace. Other lead investors were the Women’s World Banking Asset Management (WAM), FinnFund, La Maison and returning investors Cathay Innovation.
Contact centers play a key part in call a company engages with customers, amounting to what is a $400 billion market globally. Recall that Zoom has had some big ambitions to crack into the contact center market for a while. When you are a buyer getting insurance, you want to get a human and trust.”
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