insurance startup News

Startup Branch Starts Reciprocal Exchange for Personal Lines Insurance

Columbus, Ohio-headquartered personal lines insurance startup Branch has launched the Branch Insurance Exchange that it says will reduce the cost for its members. Branch formerly operated as a managing general agency, Branch bundles homes and auto insurance, requiring only a …

Alphabet’s Verily to Launch Insurer Focused on Employer Medical Stop Loss Market

San Francisco-based Verily, an Alphabet company, is creating a subsidiary, Coefficient Insurance Co., to compete in the medical stop loss market. The new business will be backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re …

New Firm’s Services for Consolidated Dairy Industry Include Crop Insurance

Two traditional U.S. Midwest brokerages serving the dairy market are combining their businesses as the industry consolidates. Chicago-based Rice Dairy LLC and Commodity Risk Management Group of Platteville, Wisconsin, are partnering to form a company with about 1,700 clients, the …

Insurance Startup in California Eyeing Gig Economy Opens $2M Seed Round

Bunker Project Inc., a San Francisco, Calif.-based insurance technology startup, announced a $2 million seed funding round. The round was co-led by Comcast Ventures and Route 66 Ventures. Insurance carriers Hiscox and American Family Ventures also participated in the round. …

Startup Embroker Raises $12.2M; Offers Firms Control Over Insurance Buying, Management

Investors have given $12.2 million to fund an insurance broker offering a cloud-based risk and insurance management system for small and mid-sized businesses. The broker, Embroker, promises to empower commercial lines customers by giving them tools to buy, compare, analyze, …