Insurtech

In other news: Nationwide launches digital platform Pet HealthZone and Bain Capital Insurance closes its 1.15B inaugural private equity fund.

Consumers preferred to share data using smart devices in the home: 45% said they are happy to share information via Amazon Alexa, Google Home and the like. A little over a third of consumers (36%) said they were willing to share data through wearables or fitness health tests.

In other news: Embroker names new CEO and Swiss Re announced global head of property and casualty solutions.

Coterie Insurance, a small business insurance underwriter, is seeking to expand its ability to provide instant quotes and coverage with AI-powered data technology.

Digital Insurance's State of Insurance 2023 report also reveals that underwriting technology and staffing difficulties are top of mind for insurers.

Roots Automation, Cowbell Insurance and Capitola are among the younger companies that have started using GPT technologies.

Digital insurance companies could pay more to use banking services that have previously been virtually free as banks tighten regulations and increase prices.

State Farm and Allstate are no longer writing new homeowner policies in California. But some insurtechs argue that with better data, carriers can make more nuanced decisions.

It is important to leverage human-in-the-loop processes, rather than automating them away, and to surface relevant information for agents to help contextualize interactions with policyholders.

Co-founders Anthony Marshi and Toby Hung recently secured $2 million in funding for a platform automating cyber insurance coverage focused on medium and large sized businesses.