In other news: Chubb teams up with Betterfly in Latin America; Franklin Mutual partners with vipHomeLink; Aon announces last-mile insurance with CarrierHQ.

Chubb Ltd. is joining with insurance-tech startup Betterfly for offerings in Mexico, Colombia, Ecuador, Chile and Argentina as the companies seek to tap into under-served Latin American markets.

As the wave of SPAC mergers crested in the past two years, startups that chose this path found it difficult to keep up with more established companies and investor expectations. The insurtech companies that went this route are not exempt from experiencing that strain.

There were an equal amount of rounds of more than $20 million and seed or pre-seed rounds.

In this segment of the series, the authors examine the role M&A will play in the industry’s adoption of insurtech—and more generally, the need for established carriers to adapt to the increasingly innovative and service-based product and service offerings new entrants bring to bear.

Today’s clients are looking for financial guidance and product recommendations that account for their entire financial lives. Unfortunately, because of legacy technology in place, most insurance advisors can’t credibly weigh in on the whole picture.

Metromile went public via a SPAC in February.