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.
Insurance Technology: Four Trillion Dollar Industry Finally Goes Digital Insurance Technology is riding a wave of innovation and investment that is attempting to do in a few short years what the insurance industry itself has failed to do over the last decade: a complete digital migration across all business processes. With $4.6 Trillion in global annual premiums, or 5.6% of global GDP, the insurance industry is a highly attractive market where incumbents have been slow to embrace innovation
The Future of Insurance is InsurTech Every insurance sector player must pose this question: “How do we use new technologies to reshape the insurance value chain?” In his keynote presentation at the 2017 Insurance-Canada.ca Executive Forum, Matteo will discuss four main benefits: frequency of interaction; bolstering the bottom line; knowledge creation; and sustainability.
JLT Specialty USA Partners With Altumai to Develop Insurtech Worker Compensation Solutions in the Food/Ag Industry JLT continues to build partnerships to develop Insurtech solutions JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (LSE:JLT), one of the world's leading specialty-focused providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, is partnering with Altumai, a pioneer in IoT driven, advanced analytics enabled solution development, deployment and commercialization to develop solutions to reduce worker injuries in the food/agriculture industry.
Software is eating the auto insurance Connected Insurance represents a new paradigm for the insurance business, an approach that fits with the mainstream Gen C, where “C” means connectivity. This novel insurance approach is based on the use of sensors that collect and send data related to the status of an insured risk and on data usage along the insurance value chain.
Octo Telematics Wins Best Insurance Telematics Product or Service of The Year BOSTON--(BUSINESS WIRE)--Octo Telematics (Octo), the number one global provider of telematics for the auto insurance industry, with 39% of the market in terms of active usage-based insurance (UBI) policies, announced today that it has been crowned the Best Insurance Telematics Product or Service of the Year at TU-Automotive Detroit 2017. In addition, three Octo executives presented important telematics themes in keynote and panel discussions at the industry-leading show.
8 Startups Offering On-Demand Insurance Our recent article on 10 Artificial Intelligence Startups in Insurance has been receiving all kinds of interest from our readers which shows we’ve touched on a hot topic. In that article, we talked about how auto insurance companies are not operating in a sustainable fashion and the only way we can resolve that is through technology. It’s important to note that since the insurance industry is so far behind the times when it comes to technology, you don’t even need to do anything that advanced to add value.