InsurTech 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, …

MetLife Seeks ‘First-Mover’ Tech Advantage by Joining MIT Media Lab

MetLife has launched a multi-year collaboration with the Massachusetts Institute of Technology (MIT) focused on technologies that it believes will transform the insurance industry. MetLife has joined the MIT Media Lab. The Media Lab’s work has led to tech innovations …

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 …

Investment in Innovation to Rock Chicago Stadium at Insurtech Conference

Three stages, a packed football stadium overlooking Lake Michigan, decked out luxury suites. A rock concert? No, it’s an insurance innovation and investment event. But some attendees might be star-struck by the industry heavyweights in attendance at the OnRamp Insurance …

Insurtechs Continue to Perform Miracles for Policyholders

APRIL 1, 2018— The competition among insurtechs trying to make their insurance customers “deliriously happy” continues to evolve with the latest news that one insurer is paying claims before they even happen. New York-based BlackRaspberrySoda said it has paid out …

Chubb Invests in Startup Bunker to Develop Gig Worker Insurance

Bunker and Chubb are working together to develop new insurance products focused on freelance workers. Chubb has also become a minority investor in Bunker, committing at least $2 million to the startup digital broker and its focus on the small …

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 …

Startup Auto Insurer Root Raises $51 Million for Further Expansion

Columbus, Ohio-based auto insurer Root Insurance, which incorporates individual driver behavior data from mobile phone apps in every quote, announced the closing of a $51-million Series C funding round. Investors were led by Redpoint Ventures, with Scale Venture Partners and …

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 …