Insurance

In other news: Ethos adds board members, new executives; One Inc partners with Mastercard on insurance payments; and Notion, a Comcast company, works with Honey Insurance in Australia.

Amazon will require third-party sellers to secure product liability coverage after reaching $10,000 in sales in one month on Amazon.

Challenge comes with increased awareness of structural racism in financial services.

In other news: Cowbell Cyber releases API; Discount Tire, Motorq offer data analytics platform; and Roamly announces new hire and expansion plan.

Operating under the radar in Rhode Island since 2017, the company has launched in Arizona with an eye toward more.

Almost $87 billion will have been paid in improper or fraudulent supplemental unemployment insurance claims by the time the program expires in September, according to the report from the Pandemic Response Accountability Committee on Wednesday.

A $5 billion grant program in the infrastructure bill calls for utilities to harden power lines, including by taking them off of towers and burying them underground, but that option may be a poor fit for the Gulf Coast’s topography. It’s also expensive.

SynchronoSure has three insurance products available in 48 states, and will be adding new products over the next 60 days. GigBOP, a low-end property/casualty product for the gig economy and small business accounts; a trucking general liability product designed to protect the office and garage operations for small trucking companies; and a recently announced excess liability product.

Victims’ lawyers, concerned that Century may claim it can’t pay abuse victims, argue that a related Chubb subsidiary, Insurance Company of North America, known as INA, is also on the hook because it insured the Boy Scouts until about 1996. Chubb argues that INA turned over those policies to Century during a restructuring that year.

There were about 12 funding rounds in the insurtech sector in August 2021, according to a review by Digital Insurance and with data from Crunchbase.

General Manager Amrish Singh on how the company maintains a distinct strategy from the insurance business.

Carriers, pressed by lower expense insurtech models that emphasize direct-to-consumer engagement and new, rich data sources, are beginning to encounter a bifurcation of risk and client characteristics.

DealerPolicy, which functions as an insurance agency in the lower 48 states, connects car buyers with insurance quotes.

In other news: Breeze's new hire; Guidewire acquires HazardHub; New York Life partners with Empathy.

The decline is likely because of a lack of proactive support and personalized attention, according to a J.D. Power study.

To date, just one insurer has promised to take “significant action” in this regard, according to analysts at Societe Generale SA. Australia’s Suncorp was the first to announce it would no longer provide coverage for all new oil and gas production projects.

Luis Pino began to see the pain points in insurance industry operations. He believed that agencies needed better technology. Pino used that idea to launch Agentero, a digital insurance network.

Allowing FDI in LIC would permit so-called strategic investors such as massive pension funds or insurance firms to participate in the initial public offering, which is slated to be India’s largest ever.

Consumers still trust established traditional insurance companies over newer insurtech startups. A majority of respondents said they would prefer to buy a policy from companies like AIG over startups like Lemonade.

Future automobiles will likely need to include passive technology to monitor for driving under the influence and automatic emergency braking.