insurtech 2018 News

Tokio Marine Kiln Forms Strategic Agreement with Australian Insurtech Firm Evari

Tokio Marine Kiln (TMK), the specialist and corporate insurance business, announced it has formed a strategic agreement with Australian insurtech firm Evari. The agreement will allow TMK to access Evari’s digital insurance platform and on-demand products in the Australian market. …

Octo Telematics’ Execs to Buy 20% of Russian Shareholder Stake, Paving Way for IPO

Italy’s Octo Telematics announced that its chairman and chief executive have signed a binding agreement to purchase 20 percent of Octo’s shares from Russian company Renova Holdings. This share purchase will reduce Renova’s shareholding in the company to 48.55 percent, …

VC Firm Eos Venture Partners Plans to Raise $100M for Insurtech Investment Fund

Eos Venture Partners, the insurance technology-focused venture capital firm, announced plans to raise a $100 million debut fund, EVP I. The fund will be one of the first global, independent insurtech investment funds targeting early and growth stage investments, Eos …

AIG Launches Travel Insurance on Demand App in Canada

Travel Guard Group Canada, Inc., the Toronto-based subsidiary of AIG, has launched a travel insurance app allowing Canadian customers (except Quebec residents) to purchase coverage in blocks of time through their iPhone. Customers can now conveniently optimize travel insurance in …

Cloud-Based Insurtech Startup Insly Raises €2.2M ($2.7M) in Funding

Insly, a cloud-based insurance platform, announced an investment of €2.2 million (US$2.7 million), led by Concentric and Black Pearls VC. Founded in 2015, Insly offers insurance policy management for insurance brokers and agents, as well as MGAs and wholesale. The …

European Insurtech Investment Growth Surpasses North America in 2017: Accenture

Global investment in the insurance technology (insurtech) industry surged in 2017, with Europe emerging as a new insurtech hub outside the U.S., according to new research from Accenture. The research, which includes new analysis of CB Insights data on insurtech …

China’s 2nd Largest E-Commerce Firm, JD.com, Seeks to Expand in Insurance, Banking

JD.com Inc’s finance arm is looking to raise about 12 billion yuan ($1.9 billion) in fresh equity that could see its value double from last year to more than $20 billion, three people with knowledge of the matter said. The …

WEF Helps Create Fintech Cyber Security Consortium; Members Include Zurich, Citigroup

The World Economic Forum has led the creation of an industry consortium focused on improving the cyber security of financial technology companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup Inc, online lender Kabbage, …

Romanian Firm UiPath Ascends as Leader in Automating Business Tasks Such as Claims

Romanian firm emerges as leader in automating business tasks Romanian software firm UiPath has raised $153 million in new venture financing, marking both the company’s rapid ascent as a leader in automating routine business tasks and the emergence of Central …

Workers’ Compensation Insurtech Pie Insurance Starts Selling in 4 States

Digital agency Pie Insurance said it is ready to start selling its workers’ compensation policies in four states this month, with a goal of operating in as many as 20 states by the end of 2018. The startup that claims …