Leadenhall backs InsurTech focused “insurance challenger” Gryphon Specialist insurance and reinsurance linked investment manager Leadenhall Capital Partners has invested in the launch of what is being called an “insurance challenger” start-up, a new initiative to launch an insurer that will leverage InsurTech and a fresh approach to protect more UK families. Gryphon Group Holdings Limited, an entrepreneurial start-up that aims to launch disrupters into established sectors, has raised £180 million in funding to design and build what it terms an “insurance challenger” with the goal of offering more and better protection to UK families.
Zurich uses accelerator to influence strategies of insurtech start-ups Major Swiss insurer Zurich is working with accelerator Startupbootcamp to influence the strategy of insurtech start-ups, group head of business transformation Antony Elliott told Intelligent Insurer. “A few years ago, the insurance sector thought that these start-ups were coming to eat our lunch, now we see them more collaborating and joining us for lunch,” he said.
FinTech and InsurTech company IATAI Enterprises and payment solutions enabler BPP create Handy U, a universal and customizable payment, benefits and rewards solution SAN FRANCISCO, June 15, 2017 /PRNewswire/ -- The FinTech and InsurTech company IATAI Enterprises (IATAI), which specializes in making mobile transactions, communications and other interactions quicker and easier across platforms, has joined forces with the payment solutions enabler BPP to develop Handy U, a universal and customizable payment, rewards and insurance solution for consumers, businesses and merchants.
Inside the hub of Canada’s insurtech community Digital companies offering new, optimized experiences are driving up consumer expectations and insurance professionals are under pressure to not only embrace the innovation, but also be a driving force behind it. “To some extent, innovation is key to the survival of the industry. It also presents fantastic opportunities for companies to find new ways of distributing products or even creating new product categories altogether,” says Isotta-Riches, who is Aviva Canada’s chief information officer.
InsurTech Futures: Four insurance companies in FCA's second innovation sandbox cohort The Financial Conduct Authority (FCA) has unveiled the list of firms that were successful in their applications for the second cohort of its regulatory sandbox. Four of the 24 firms that are ready to begin testing shortly are doing projects focused on the insurance sector. In the first round of the project, which started in November 2016, only one insurance organisation took part.
Insurers confident against digital-only players The overwhelming majority of personal lines insurers are confident in their ability to compete with new, digital-only players, despite just a tiny fraction saying they themselves are completely, or almost all, automated. A whopping 92% of insurers surveyed in a new LexisNexis study said they believe that digitisation has allowed new types of insurance to emerge and disrupt the market,
Insurance startup Sure raises $8 million and launches smartphone protection based on virtual diagnostics Fledgling insurance startup Sure has raised $8 million in a series A round of funding led by IA Capital, with contributions from Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant, and AmTrust. Founded out of New York in 2014, Sure is one of a number of insurtech startups to come to the fore in recent years, promising on-demand coverage for everything from apartments to pets, flight cancellations, and weddings
Insurance companies competing on price and value It took the head of one of the UK’s biggest insurers to say what many had been thinking for a long time – much of the industry is broken and neither companies nor customers like it. According to Aviva chief executive Mark Wilson: “The dysfunctional market is a problem for the whole industry that requires an industry-wide solution.”
The Case for Telematics in Auto Insurance Claims The last century has seen automobiles evolve tremendously, yet auto insurance has been slow to follow suit. Only in recent years have insurers really embraced technology that is influencing the insurance process. Auto telematics is one technology that US insurers have been rapidly adopting, mostly through usage-based insurance programs.