Finance

The insurer is investing in startups, including insurtech Surround Insurance, to generate positive social impact alongside financial returns.

Inshur led the way with a big round and an acqusition.

Researchers at the Federal Reserve Bank of Philadelphia have come up with a plan for letting banks innovate with artificial intelligence and widening access to credit at the same time.

Joyn Insurance's partnership with Commit allowed the company to launch its platform amidst a downturn of insurtech investments.

Fintechs were already clustered in New York and San Francisco. Now that most startups work with the four largest banks, it's even harder to create new technology in the heartland.

There were more than 30 funding events in the insurtech sector.

The startups will receive $50,000 in seed funding.

In an all-cash transaction valued at approximately $2.6 billion.

Digital Insurance spoke with Joel Albarella, founder and head of New York Life Ventures

The collapse of Silicon Valley Bank ratcheted up the financial pressure on startup companies that was already building. How can new entrants adapt?

Some tech startup clients had to scramble to retrieve money as the bank was closing. Many wonder which financial institution will fill the void. 

Panic withdrawals brought down a bank within two days, and many point to some venture capitalists, who urged companies to pull money out of the bank.

Some venture capitalists raced to assist in setting up temporary cash funds to help affected startups make payroll next week.

The funds were seen as safe havens when word spread that SVB's finances were worsening.

While depositors will be made whole under an extraordinary move by regulators, a fire sale of the entire bank and advisors fleeing to competitors create new challenges.

Lenders have focused on front-end cost differences since key secondary market players opened up the option, but what happens when a problem emerges down the road is worth weighing too.

Being immersed in the startup ecosystem can be the answer to staying ahead of the innovation curve.

Most rounds were Series A or earlier.

Artificial intelligence programs are seeing plenty of use, according to a survey by Marcum.

Auto-insurer Geico reported a full-year underwriting loss of almost $1.9 billion as inflation ate into margins alongside elevated claim frequency and severity.