insurtech 2018 News

New Florida Insurtech Agency HoneyQuote Looks to Shake-Up Agency Model

A new insurtech agency has entered the Florida homeowners market space with a rating engine offering quotes from multiple domestic carriers and the ability to purchase coverage in one transaction. HoneyQuote.com, launching next month, was created by Franklyn Taveras and …

China’s Tech-Focused Insurer Ping An May Be Poised for Major Asian Growth Leap

China’s Ping An Insurance (Group) Co. has 23,000 research staff, 500 big-data scientists and spends billions of dollars a year on R&D. Last year, it attracted 46 million new customers, equivalent to the population of Spain — almost all of …

Workers’ Comp Insurtech Pie Insurance Raises $11 Million

Pie Insurance, an online seller of workers’ compensation policies to small-and-medium-sized businesses, reported it has completed an $11 million Series A funding round. The company, a full stack managing general agent (MGA) operation, currently offers its online buying process that …

Insurtech Firm Wefox Seeks New Funding with Softbank Among Investors: Sources

Wefox, one of Europe’s fastest-growing insurance technology firms, is close to settling on a new “triple-digit million” euro funding round, with Softbank’s Vision Fund among the suitors, three sources familiar with the negotiations said. One of the sources said Softbank …

AXIS Launches AXIS Digital Ventures to Accelerate Innovation via Insurtech Partners

AXIS Capital Holdings Ltd. announced the launch of AXIS Digital Ventures, a new unit that will lead enterprise-wide efforts to partner with insurtech companies that focus on high value re/insurance applications, new product opportunities and new distribution and re/insurance business …

MGAs Working with Insurtech Firms to Bolster Customer Centricity: Survey

Managing general agents (MGAs) are increasingly interested in working with insurtech firms to enable their businesses to become more customer-centric, according to a new survey of UK MGAs. More than 42 percent of survey respondents feel insurtech helps MGAs evolve …

Reinsurers, Insurtech Startups Increasingly Seek Mutually Beneficial Partnerships

Reinsurance companies increasingly are funding insurtech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will these investments have? There are a number of reasons reinsurers are getting involved …

With Ambitions to Expand (and Disrupt Allianz), German Insurer DFV Weighs IPO

With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG [DFV] needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering is one path Stefan Knoll, founder and chief …

Insurtech Can Help Agents, Brokers Build Their Businesses: Furtado of Ratehub.ca

In today’s increasingly digital world, consumers expect to be able to access online information on insurance products, compare prices and carrier options, and apply for coverage using a simple and efficient process. But many agencies and brokerages are falling short …

Winners Announced for 3rd Annual Efma-Accenture Innovation in Insurance Awards

Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture announced the winners of the third annual Efma-Accenture Innovation in Insurance Awards. Showcasing the best examples of insurance technology innovations in multiple categories, the …