TechCrunch

FEBRUARY 14, 2023

of Africans are insured , which is less than half the global average of 6.3%, making it the least insured continent in the world. But soon, the co-founders realized a much bigger problem facing healthcare, particularly as regards insurance. As many as 2.8% Despite the abysmal number, there’s some good news.

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TechCrunch

JANUARY 9, 2023

Superscript , an insurance broker and tech platform targeting SMEs and “high-growth” tech firms, has raised £45 million ($54 million) in a Series B round of funding. Founded out of London in 2015, Superscript constitutes two core insurance businesses: an online-only “self-serve” platform that’s available to U.K.

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TechCrunch

MARCH 16, 2023

With inflation sparking an increase in the cost of repairs, labor and claims, fees for insurance are similarly spiking across the board. Car insurance premiums rose 13.7% Home insurance, meanwhile, climbed 12.1% Fairmatic applies AI to commercial auto insurance. year-on-year, Policygenius found.

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TechCrunch

JANUARY 19, 2022

French startup Luko is acquiring German startup Coya in order to grow its European presence and get an insurance license from German regulator. Luko started as a home insurance company for both homeowners and renters. Luko started as a home insurance company for both homeowners and renters.

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TechCrunch

FEBRUARY 9, 2022

French startup Alan currently insures more than 200,000 people with its own health insurance contracts. With this new activity, called Alan-as-a-service, Alan essentially provides all the services that you need to run a health insurance in France — except that other insurance companies are creating those insurance products.

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TechCrunch

NOVEMBER 24, 2020

Metromile , the pay-per-mile auto insurer that earlier this year laid off a third of its staff due to economic uncertainties caused by COVID-19, is taking the SPAC path to the public markets. Metromile is credited for disrupting some of the inefficiencies of the auto insurance business model, notably how consumers are charged.

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TechCrunch

MARCH 17, 2021

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 insurance market.

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TechCrunch

APRIL 8, 2023

W elcome to the TechCrunch Exchange, a weekly startups-and-markets newsletter. B2C When I reached out to investors recently for our latest insurtech survey , I was curious to know how the economy was affecting insurance purchase decisions and whether this made B2B companies more appealing to VCs than their B2C peers. Sign up here.

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TechCrunch

JANUARY 29, 2023

Founded by two insurance industry veterans, Eazy Digital wants to give small insurance companies in Southeast Asia the same advantage as their larger competitors. Its SaaS platform lets insurers digitize many parts of their operations, enabling them to scale up more efficiently.

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TechCrunch

JANUARY 24, 2022

Insurance broker and carrier marketplace Sayata took in $35 million in additional funds toward its Series A after raising $17 million in funds last August. Founded two years ago, the company offers a way for small and medium businesses to secure insurance. Securing business insurance takes a big chunk of a broker’s day.

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TechCrunch

MARCH 15, 2022

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. .

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TechCrunch

OCTOBER 5, 2021

The average penetration rate for insurance in Africa is between 3% to 5%. South Africa makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. million seed round to provide insurance services for Egyptians.

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TechCrunch

MAY 14, 2023

It recently entered the Kenyan market to tap the growth of its agriculture sector. Kenya is a very interesting market for us, especially because of the agricultural play. We also believe it could be a very key springboard into new markets,” Iortim , Figorr founder and CEO, told TechCrunch.

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TechCrunch

DECEMBER 10, 2020

Next Insurance , a startup that competes in the small business (SMB) insurance market, announced this morning that it has acquired its first company. Next Insurance raised $250 million earlier this year at a valuation of $2 billion , making it one of the richest startups to compete in the broad insurtech niche.

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TechCrunch

FEBRUARY 2, 2021

If you’re not familiar with the company, Seyna is an insurtech startup that has obtained an insurance license focused on property and casualty. The company’s go-to-market strategy is also interesting as it doesn’t sell insurance products to consumers directly. Clients include Garantme and Decathlon.

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TechCrunch

FEBRUARY 2, 2022

African countries are yet to catch up with social security and safety programs commonly used in the West, where the government provides health insurance and unemployment benefits to citizens. The general perception of insurance on the continent has been bland for years, and its penetration rate, except South Africa, is subpar.

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TechCrunch

JULY 7, 2022

The latest is an insurance company called Ranger , which aims to elevate the agents in the insurance industry, rather than replace them. Most of the new-wave insurance platforms out there have been squarely focused on the end-consumer. According to Garrison and Krim, the $500 billion market is basically split among two segments.

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TechCrunch

MAY 21, 2021

Melbourne O’Banion is co-founder and CEO of digital life insurance company Bestow. An estimated 41 million Americans say they need life insurance but have yet to purchase coverage. There’s latent demand for life insurance currently unaddressed by much of the financial services industry, and embedded finance can be the solution.

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TechCrunch

DECEMBER 7, 2020

Lemonade is launching its renters insurance in France. Lemonade is now a public company with a current market capitalization close to $4 billion. Lemonade has optimized its insurance product in different ways. First, it’s supposed to be easier to sign up with Lemonade compared with a legacy insurance company.

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TechCrunch

FEBRUARY 10, 2022

The company wants to modernize the insurance market. Instead of focusing on the consumer market like many insurtech startups, Insify has picked a different path. With Insify, companies that are just getting started can get property and casualty insurance without much effort. Its insurance products are backed by Munich Re.

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TechCrunch

AUGUST 19, 2021

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.

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TechCrunch

JANUARY 23, 2023

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.

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CIO

DECEMBER 1, 2022

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.

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TechCrunch

APRIL 12, 2022

Processing claims at scale presents a challenge for insurers, particularly where the claims entail factors like complex underlying health conditions. A growing cohort of startups including Alan, Tractable and Snapsheet offer tools to help customers navigate through the insurance claims process. ” Accelerating insurance claims.

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TechCrunch

SEPTEMBER 15, 2021

million seed round to further its insurance payments platform that combines financing, collections and payables. While working with insurance companies they recognized how fast the insurance industry was modernizing, yet insurance sellers still struggled with customer experiences due to outdated payments processes.

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TechCrunch

SEPTEMBER 10, 2021

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.

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TechCrunch

APRIL 10, 2023

The inability to accurately assess risk for insurance purposes is costing the industry a lot of money. The 1-year-old company developed a universal API for insurance data and is taking an approach of a “Plaid for insurance,” Cameron Duncan, co-founder and CEO of Axle, told TechCrunch. Axle is trying to change that. Duncan said.

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TechCrunch

MARCH 13, 2023

Mercury , a startup that provides banking services for other startups, is offering customers expanded FDIC insurance of up to $3 million via a new product in the wake of Silicon Valley Bank’s collapse. That’s 12x the industry standard for institutions of $250,000 in FDIC insurance that other institutions offer. invested in U.S.

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TechCrunch

MAY 6, 2022

The demand for more and enhanced automated experiences in our daily lives is growing, and the insurance sector is no exception. This points to a changing market where consumers have higher and different expectations for insurance experiences, based partly on the ease with which they now do other tasks digitally, like shopping and banking.

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TechCrunch

JANUARY 27, 2022

Four months after a seed round, Ascend is back with its first big boost to enable the company to expand its “buy now, pay later” commercial insurance tool that combines financing, collections and payables. Its technology revolves around payments APIs that automate end-to-end insurance payments. Ascend dashboard. Image Credits: Ascend.

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TechCrunch

MARCH 9, 2021

Zego , the insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150 million. s burgeoning e-scooter rental market, partnering with companies like Tier, Voi and Dott.

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TechCrunch

FEBRUARY 2, 2021

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.

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TechCrunch

APRIL 28, 2021

Wunderite builds and sells software designed to help insurance agencies more rapidly process insurance applications, and automate some of their processes. MacDonald previously worked for his family’s insurance business, while Schnare earned insurance experience by working for a large player in the market.

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TechCrunch

MARCH 10, 2022

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.

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TechCrunch

MAY 25, 2022

Affordability is one of the biggest impediments for insurance penetration in Kenya. The API-powered platform is using technology to disrupt a market that is largely dominated by traditional insurance companies, many of which are reluctant to abandon lengthy paperwork, and traditional payment modalities for both premiums and claims. “We

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TechCrunch

OCTOBER 4, 2021

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.

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TechCrunch

NOVEMBER 11, 2021

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.

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