Digital Insurance News

2022 Holds Promise for Insurance Agents and Digital Carriers

Technology will continue to influence changes in insurance markets in 2022, especially among agents and digital carriers. So say the people at Agentero, a digital platform and network that uses data and analytics to enable agents to proactively offer insurance …

Regulation, Technology Know-How Are Delaying Embedded Insurance’s Full Potential

Embedded insurance has made substantial gains in 2021, but the technology faces regulatory and other roadblocks that could postpone its full potential, a panel of experts and industry insiders said during InsureTech Connect 2021 in Vegas. “Regulation is a roadblock …

$245M Insurtech Funding Wrap-Up: Corvus, AgentSync, Cowbell Cyber, WeLab, Hi Marley

Some serious money has been sent the way of various insurance startups over the past week. Investors backed cutting-edge commercial lines and cyber insurance products as well as advances in texting communications, producer management and licensing compliance, and digital risk …

New Unicorn Wealthsimple Plans Insurance, Mortgage Products Buildout Before IPO

Fresh off achieving a $1 billion valuation, Wealthsimple Inc.’s top executive says the firm has more work to do before pursuing an initial public offering. The online investment company, which on Wednesday announced a new funding round that raised C$114 …

Progressive Integrates Home Insurance Quoting Into Mortgage Lending Program

Progressive Insurance is serving home buyers in the digital mortgage process and using information they’ve already entered for their loans to serve up homeowners’ insurance quotes with a single click. Working with mobile-first digital mortgage software company StreamLoan, the insurer …

Next Insurance Attracts $250M in New Financing; Its $631M to Date Beats Lemonade

Next Insurance secured another $250 million in financing designed to fuel continued national expansion of its digital small business insurance offerings. CapitalG, Alphabet/Google’s independent growth fund, led the Series D round. But existing investor Munich Re Group also participated in …

Do Auto Insureds Prefer Insurer Websites Over Agents? J.D. Power Thinks So.

Remember all the talk that digital transformation would disrupt the auto insurance industry? Well, it’s real, according to the consultants at J.D. Power. The firm says its 2020 U.S. Auto Insurance Study proves that insurance company websites—for the first time …

Pandemic Stay-at-Home Experience Raises P/C Insurers’ Bar for Delivering Digitally

Significant investments in direct-to-consumer website and mobile design have helped property/casualty insurance companies improve their digital service and shopping experiences. Consultants at J.D. Power say insurers have made across-the-board improvements in clarity of information, but many still struggle with the …

Allstate to Retire Esurance Brand

Allstate is retiring its Esurance brand and combining its remaining Allstate, Encompass and Answer Financial personal lines brands under a single business model. The company says dropping Esurance and creating the new business model will lower costs and allow it …

Lloyd’s Insurer AEGIS London Launches Digital Trading Division

Lloyd’s insurer AEGIS London has launched a digital trading division, dedicated to building and distributing digital products. Tom Squires, AEGIS London’s head of digital trading, will lead the division, reporting to Nigel Roberts, head of distribution. He will be supported …