insurtech 2017 News

Insurtech CoverWallet Secures $18.5 Million to Expand Small Business Insurance Platform

Digital business insurance agency CoverWallet said it has closed a $18.5 million Series B funding round led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr and Two Sigma Ventures. The firm uses analytics …

Insurtech Lemonade Opens Its Sales Platform for All to Use

Lemonade announced Tuesday that it launched a public API (application programming interface), allowing anyone to seamlessly offer Lemonade policies through their apps or websites. The insurtech home insurer announced: “Today, we’re thrilled to announce that we’re opening up the Lemonade …

Crowdsourced Insurer Rater Clearsurance Raises $4 Million

Clearsurance, a crowdsourced review, rating and educational platform for the insurance industry, has raised $4 million in a Series A funding round. The round was led by its co-founder, Michael Crowe, and includes Davis Capital Partners, a Sausalito, Calif.-based investment …

Insurtech Slice Raises $11.6M; Will Offer Its On-Demand Platform to Other Carriers

Slice Labs Inc., a company offering an on-demand insurance platform for rideshare and homeshare risks in the United States, has announced a Series A investment of $11.6 million led by XL Innovate, with participation from Horizons Ventures, Munich Re / …

Insurtech Pie Insurance Eyes Slice of Workers’ Comp Market with $4.3M Funding and Pricing Tool

Oddly-named Pie Insurance took an initial step toward entering the workers’ compensation insurance market at the InsureTech Connect conference in Las Vegas by introducing an interactive pricing tool for small and medium-sized businesses. The pricing tool is the first step …

XL Catlin’s Accelerate Partners with UK Artificial Intelligence Startup Cytora

XL Catlin’s internal innovation team, Accelerate, announced it is working with Cytora, a UK-based insurtech startup that uses artificial intelligence (AI) and open source data to improve the way insurers quantify, select and price risk. XL Catlin said it will …

State Auto Labs Launches $25 Million Innovation Venture Fund

State Auto Labs Corp., the innovation arm of Columbus, Ohio-based State Automobile Mutual Insurance Co., has launched a $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry. State Auto Labs said it is collaborating with …

PartnerRe Forms Partnership with Fintech Money Transfer Specialist, RemitRadar

PartnerRe has entered into a strategic cooperation agreement with RemitRadar, a London-based money transfer specialist. PartnerRe and RemitRadar said they have formed this agreement “to capitalize on RemitRadar’s money transfer ecosystem, web presence and social media channels, including AI [artificial …

Zebra Online Insurance Agency Gets $40M from Investors and New CEO from Kayak

The Zebra, an online auto insurance comparison marketplace, plans to use $40 million in new venture funding to double down on brand building, product expansion and customer outreach. Company co-founder and Chief Operating Officer Joshua Dziabiak told Carrier Management via …

Insurtech Firms Often Help, Not Disrupt, Traditional Reinsurers: JLT Re

A wave of insurtech startups are entering the re/insurance market – but that’s not necessarily a disruptive trend, according to a report published by JLT Re. Indeed, the report points to close collaboration between many new insurtech companies and established …