Despite a 50 percent increase in insured losses from natural catastrophes during 2016, the global reinsurance industry achieved profitable results for the third quarter and remains on track to close out another profitable full year, according to a report published …
German fintech company N26, which made its name mocking traditional banks, has found itself on the receiving end of criticism after a security researcher proved its smartphone apps exposed users to potential account hijacking. N26, previously known as Number26, has …
Insurance startup Lemonade is eyeing a national expansion and has filed for licenses to operate in 46 states and the District of Columbia. The peer-to-peer insurer that is focused on renters and homeowners insurance is pursuing the broader regulatory approval …
Zhongan Online P&C Insurance Co. scrapped plans for an initial public offering in Hong Kong or the U.S. and is instead focusing on a listing in mainland China, people familiar with the matter said. Lukewarm overseas interest and an attempt …
Insurtech was an insurance buzzword in 2016 and that’s likely to continue next year when it will permeate almost every aspect of U.S. industry, according to a prediction from international law firm Clyde & Co. Clyde & Co.’s insurance team …
XL Catlin’s venture fund, XL Innovate, committed $4 million in first-round financing to Stonestep, a property/casualty insurtech startup looking to streamline how microinsurance is sold in emerging markets. The Series A funding is designed to help Stonestep grow in the …
Global claims management firm Crawford & Co. has acquired a majority interest in WeGoLook, an online and mobile inspection firm that calls itself the “Uber of inspections.” Crawford said it agreed to pay $36.1 million for an 85 percent stake …
Smartphone-only bank Number26 is now offering its services in 17 countries in the euro zone, expanding from a smaller core of European markets it entered a year ago, it said on Tuesday. The Berlin-based company is backed by Li Ka-shing, …
Lemonade, the home and renters insurance company run by artificial intelligence and behavioral economics, announced a $34 million B round of funding. The latest round was led by General Catalyst with participation from GV (formerly Google Ventures), Thrive Capital and …
Insurtech has a complementary place in the traditional insurance world, despite remaining uncertainty in the industry about how it will function on a wide scale, Standard & Poor’s said in a new report. “We do not expect traditional insurance business …
