small business insurtech News

Munich Re Backs Small Business Insurtech Next Insurance with $250 Million

Insurtech Next Insurance has pulled in a $250 million financing round from a single investor: Munich Re. Palo Alto-based Next said it plans to use the Series C cash infusion to scale up its small business insurance products and expand …

Small Business Insurtech CoverWallet Expands to Offer Its Tech, Markets Access to Agents

CoverWallet, a technology company that has been on a mission to “reinvent insurance for small business” customers, is now offering its platform for insurance agencies, the company revealed today. With 16 agencies already using the platform, another 100 are on …

The Hartford Adds Employee Benefits, E&S Options to Small Business Online Quote System

The Hartford has enhanced ICON, its online quoting system for agents and brokers, to include access to quote employee benefits as well as excess and surplus (E&S) coverage for their small business customers. Employee benefits are now integrated with the …

Insurtech CoverWallet Secures $18.5 Million to Expand Small Business Insurance Platform

Digital business insurance agency CoverWallet said it has closed a $18.5 million Series B funding round led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr and Two Sigma Ventures. The firm uses analytics …

Allianz Specialty Goes Live with ‘Insurtech’ for Small Business Brokers, Policyholders

Borrowing ideas from some insurtech startups, Allianz Global Corporate & Specialty has a new platform for brokers and their Main Street customers “from barber shops to bakeries and toy stores to tailor.” The site, AllianzGo, promises U.S. brokers and policyholders …

Travelers Says It’s ‘Where It Needs to Be’ to Compete; Q2 Results Dampened by Weather

Small business insurance leader Travelers Companies is well-positioned to continue to compete in the small commercial insurance space that is attracting new entries including technology-driven start-ups, according to CEO Alan Schnitzer. “We think we are where we need to be …

Startup Next Insurance Closes Funding Round Worth $35 Million with Amex Aboard

Next Insurance, a digital insurance agency for small to medium businesses, announced that American Express Ventures has joined its previously announced Series A Round led by Munich Re/HSB Ventures. In May, Next reported the round had reached $29 million and …

Study Finds Insurtech Funding Dips as Startups Launch; Predicts Small Business Disruption Ahead

Total insurtech funding in the first quarter of 2017 was down, but the drop-off could be a result of the significant investments in 2016 now reaching the product launch phase, according to a report by Willis Towers Watson Securities. The …