insurtech 2019 News

British Watchdog FCA Probes Data Sharing in Financial Services

Britain’s Financial Conduct Authority (FCA) is investigating whether sharing data with outside competitors could be extended beyond banks to savings, insurance, mortgages, investments, pensions and consumer credit to increase innovation and choice. “Open banking” rules already allow payment companies and …

Fast-Growing German Insurtech Wefox Raises $110 Million More

German insurance technology firm Wefox said on Wednesday it had attracted an additional $110 million of investment in its second funding round, bringing the total amount of money raised this year to invest in its expansion to $235 million. The …

Trov, U.K.’s Lloyds Banking Group Partner on Digital Renters Insurance App

Trov has rolled out its digital renters insurance application, an end-to-end product brought to market by a unit of Lloyds Banking Group in the U.K. Trov, an insurance technology company, said the product enables renters to activate their base home …

Up-Market Home Insurtech Openly Opens for Business in 2 States After Raising $7.6M

The tech-enabled high-end home insurance provider Openly announced it has begun selling in Illinois and Arizona at the same time it announced a $7.65M seed round of funding led by Gradient Ventures, Google’s AI-focused venture fund. Openly’s first product is …

Digital MGA C-Quence Joins with Insurtech Cytora to Transform Mid-Market Insurance

C-Quence, the digital managing general agent (MGA), and Cytora, the insurtech startup that operates an artificial intelligence-powered platform, are joining forces to “turbocharge innovation” in commercial property & casualty (P/C) underwriting. C-Quence will launch its P/C suite in January using …

Allianz Forms Partnership with Microsoft, Aiming to Transform Insurance Processes

Allianz SE and Microsoft Corp. announced a strategic partnership focused on digitally transforming the insurance industry, making the insurance process easier while creating a better experience for insurance companies and their customers. Through the strategic partnership, Allianz will move core …

Insurtech Root Expands Into Renters Market; Product Launched in 3 States

Root Insurance, a property casualty insurtech, has launched a streamlined renters insurance designed and personalized for consumers starting at $6 a month. In addition to covering customers’ personal property and liability from accidents, the new Root renters insurance product pays …

Insurtech Sales Platform Cover Genius Raises $10M for Expansion

Cover Genius, an insurtech that offers an insurance sales and payments tools to online retail, travel, property, shipping and other companies in multiple languages and countries, has raised $10 million in new financing. King River Capital, a Sydney and California-based …

Startup Zego Becomes 1st U.K. Insurtech to Get Insurance License

Zego has become the first ever U.K. insurtech to be awarded its own insurance license, which will enable it to build and sell its own products. While Zego will still work in tandem with its growing network of insurer partners, …

Insurtech Funding Reaches $4.4 Billion to Date in 2019, Blowing Past Full-Year 2018

Insurtech funding levels, reaching almost $4.4 billion in worldwide funding commitments through three quarters of the year, has already surpassed the 2018 full-year total, Willis Towers Watson announced Wednesday. According to the new Quarterly InsurTech Briefing published by the global …