Lemonade Car in Tennessee, CNA on Vertafore platform: Roundup
March 25, 2022 6:42 AM
Lemonade has launched its car insurance product in Tennessee. The telematics-based product was first made available to Illinois drivers last November , the same month it acquired Metromile . In a blog post, Lemonade says that the mileage tracked will be tied to a tree-planting initiative to balance out the carbon from trips. Lemonade's philanthropic arm, the Lemonade Foundation, also announced yesterday a blockchain-based effort to bring insurance to farmers in Africa.
CNA has signed on with Vertafore's Commercial Submissions quoting platform for independent agencies. Workers' compensation and BOP will be the first CNA products on the platform. "Joining Commercial Submissions can help drive value for the agents we work with, helping grow their businesses and meet their business objectives," said Stephen Marohn, SVP, Small Business at CNA. "It has always been our goal to provide innovative solutions."
Sedgwick will be the third party administrator for Sensa's auto insurance product. Sensa is a newly launched insurtech that uses a proprietary sensor to detect collisions and proactively dispatch help in order to make the claims process easier. "We are pleased to have the opportunity to support Sensa and their policyholders with claims administration services, a nationwide network of appraisers and vehicle repair shops, as well as roadside assistance services," said Chris Mayo, Sedgwick's Senior Vice President of Operations. "Combining Sedgwick's auto claims expertise with Sensa's smart sensor technology ensures we take good care of people in their time of need."
Markd has closed its $100 million debut insurtech fund, the VC firm announced. Its founder and managing partner is Parker Beauchamp, who has been CEO of Inguard, a risk management firm, for 20 years. "Markd was founded to identify and support transformative insurance ideas of high-potential startups not getting the attention and funding they deserve. With ideas around the metaverse, blockchain, and everything in between, there are some remarkable founders primed to evolve the industry perpetually. We're committed to seeking investment partners who not only provide capital but possess industry expertise to create, reinvent and innovate conventional insurance models," he said in a statement.