insurtech 2021 News

German Insurtech ELEMENT Raises $19.5M to Continue Growth

ELEMENT, the Berlin-based white-label provider of digital insurance solutions, has raised €16 million (US$19.5 million), in additional investment from existing and new investors. The additional capital will be used to continue the company’s growth. With the latest funding round, total …

Canadian Fintech Company Ratehub Launches Insurance Brokerage

Canadian fintech company Ratehub Inc. has launched a property/casualty (P/C) brokerage called RH Insurance. Toronto-based Ratehub, which operates the financial product comparison site Ratehub.ca, said the launch brings the company one step closer towards achieving its goal of “being Canada’s …

German Insurtech Wefox Raises $650M in Funding, Valuing Firm at $3B

BERLIN – Digital insurance startup Wefox said on Tuesday it had raised $650 million from investors, in what it called a record-breaking round for a so-called insurtech company that valued the business at $3 billion. The funding means Berlin-based Wefox …

Kenya Startup Pula Offers Insurance to African Farmers Hit by Effects of Climate Change

KITUI, Kenya – When Kenyan farmer Waki Munyalo’s crop of lentils shrank by three quarters last year because of unusually low rainfall, disaster was averted thanks to a simple remedy that was previously unavailable to most African farmers – insurance. …

Lloyd’s Lab Picks 11 Insurtech Start-ups, Focused on Product Simplification, Climate

Lloyd’s announced the next 11 insurtech start-ups that are participating in the sixth cohort of its Lloyd’s Lab innovation accelerator program. These insurtechs will be focused on creating simpler products for customers, including building solutions related to climate risks. This …

The Zebra Raises $150 Million to Expand Online Insurance Comparison Operations

Insurance comparison site The Zebra raised $150 million in new financing that will support expanded hiring and brand building. “This investment is going to be used to grow our team and build our brand. We are accelerating our efforts to …

Chinese Insurtech Waterdrop Faces Regulatory Pushback on Planned IPO: Sources

SHANGHAI/HONG KONG – Chinese online insurance technology firm Waterdrop Inc. is receiving pushback from domestic regulators on its planned U.S. initial public offering as its business model is seen as risky, four people familiar with the situation told Reuters. Waterdrop, …

Smart Home Insurance Specialist, Hiro, Partners with MGA Incubator Pro MGA Solutions

Independent global managing general agency incubator platform Pro MGA Solutions (Pro.MS) announced it has partnered with smart home insurance specialist Hiro. London-based Hiro has developed a home insurance product that aims to proactively mitigate the risk of customers suffering loss …

Indian Insurtech Policybazaar Plans Mumbai IPO

Indian online insurance platform Policybazaar is planning to file a draft prospectus as soon as next month for its Mumbai initial public offering that could raise about $500 million, according to people familiar with the matter. The SoftBank Group Corp.-backed …

UK Insurtech Zego Launches Flexible Cover for Food, Grocery Delivery Businesses

Zego, the London-based insurtech and commercial motor insurance provider, has launched two new flexible insurance products for moped and e-bike fleets in the UK. The new products, developed in partnership with Wakam, enable businesses in the fast-growing food and grocery …