Insurance

The company sold as much as 162 million new shares, at 120 rubles each in Moscow, it said in a statement. The sale values the insurance group, controlled by investors led by Boris Jordan, at 66.8 billion rubles. The stake was smaller than initially planned, when the company said it could raise up to 25.2 billion rubles.

Digital Insurance spoke with Maroun Mourad, president of global underwriting and leader of the life unit at Verisk about life insurance technology and what’s ahead for the industry.

Insurers should enhance the capabilities and broaden the roles of claims professionals to reap the benefits of advanced tools while maintaining personal engagement at moments that matter.

The company said it has taken a majority stake in Cardif Pinnacle, a pet insurance-focused subsidiary of BNP Paribas SA, and is buying Chicago-based Figo Pet Insurance LLC, beginning a series of investments in the sector. The prices weren’t disclosed.

In other news: Algorithm calculates number of good health years; Hiro rebrands to Locket; Alliant launches diversity initiative.

The P&C industry has been on an automation path for many years. When the pandemic hit, it became a catalyst for accelerating automation and digital transformation.

Marshmallow, a car insurance app which recently became the U.K.’s second black-founded firm to reach a billion-dollar valuation, won’t be working from its current Old Street digs for much longer. It’s moving to a nearby office with triple the space after headcount grew more than threefold during the pandemic and as it plows ahead with expansion plans into Europe.

With so many touchpoints across the insurance industry, and so many potential use cases, there is a lot of room for innovation — and there is a lot of room for failure. As an early adopter of AI technology, Harmon shares some of his key insights.

Digital Insurance spoke with Angela Orbann, vice president of property, PI product management at Travelers about how technology can optimize a home insurance policy and how artificial intelligence and satellite imagery is helping insurers.

The partnership provides Lyft drivers with the opportunity to select an auto insurance policy that is built for rideshare drivers. Policyholders are also eligible to get money back with each ride using the Lyft platform.