Cambridge Mobile acquires Amodo, Lemonade in France: Insurtech roundup
March 1, 2023 10:18 AM
Cambridge Mobile Telematics, a telematics and usage-based insurance service provider, has acquired Amodo, a similar company based in Europe. The combined company, which will operate under the CMT name and branding, now services nearly 100 programs in 25 countries. Marijan Mumdziev, Amodo CEO, became managing director for Europe for CMT, but there were no other staff changes, according to a CMT spokesperson. CMT also adds an office in Zagreb, Croatia. The deal closed in Feb. 2023.
DI's top 10 usage-based insurance stories
Lemonade has partnered with BNP Paribas Cardif to offer online renters insurance in France. The policies are accessible through either company's websites. The companies act as co-insurers for each policy. In addition to standard coverage, the policies also include some France-specific additions, the companies say:
Adjustable coverage limits
24/7 emergency assistance
Personal items coverage up to €5,000, with more available
Worldwide coverage for property taken on travel up to three months
Add-ons for theft and glass breakage
Lemonade's pet insurance line expansion
Adjustable coverage limits
24/7 emergency assistance
Personal items coverage up to €5,000, with more available
Worldwide coverage for property taken on travel up to three months
Add-ons for theft and glass breakage
Two insurers are expanding their presences in cancer insurance. Through its Workplace Benefits unit, Chubb is launching Cancer Advocate Plus. Designed in partnership with a health company called healthome, the Chubb program includes screening, disease management, recovery, insurance and education components. In addition, John Hancock has expanded access to the cancer-detection test Galleri, from its partner GRAIL, to its John Hancock Vitality PLUS customers.
John Hancock talks Grail at Insurtech Connect
Life insurance technology company Equisoft has received $125 million in new equity investment. Of that, $70 million comes from new investors, Investissement Québec and the government of Québec. The rest is from previous investors Export Development Canada (EDC) and Fondaction, the company says.