Newfront gets $100 million investment, CCC texting: Roundup

October 26, 2020 9:38 AM

A worker uses a nail gun in a home under construction at a Romanelli and Hughes Building Co. subdivision in Dublin, Ohio, U.S., on Thursday, July 9, 2020. The U.S. housing market this week surprised economists by rallying in the midst of a pandemic. But the coronavirus may drag down home values after all. Photographer: Ty Wright/Bloomberg

Ty Wright/Bloomberg

Kin Insurance, home insurance insurtech company, has announced a partnership with Cinch Home Services, a home services provider. Cinch offers a nationwide network of service technicians to Kin customers. The insurtech says it will implement new coverages that protect homeowners' most valuable assets thanks to the partnership. “We partnered with Cinch to empower our customers to make their homes safer with home protection plans – an essential financial safety net,” shares Sean Harper, CEO and co-founder of Kin Insurance.

Coterie, business insurance insurtech, has patnered with Intuit QuickBooks to make its products available to the accounting software company’s customers through the QuickBooks Online small business platform. After submitting a few details, users will be provided with business insurance recommendations that can be purchased through Coterie. "Customers now have the opportunity to access more of the tools required to help run their businesses that extend beyond our core offerings,” shares Mauricio Comi, Head of SMB Insurance at Intuit.

CCC Information Services is launching a two-way texting service to connect insurers to engage policyholders throughout the claims process. Quick Chat integrates with CCC's mobile and AI-powered claims solutions, enabling real-time text conversations across each phase of a claim. Jason Verlen, senior vice president, CCC, shares, "As consumer interactions with insurers continue to transition online and in apps, the ability to engage digitally, and in real-time, has become essential. We're excited to support insurers in the next step of their digital transformation."

Breathe Life has signed FaithLife Financial to a long-term deal whereby the latter will use the insurtech’s platform as its core distribution platform. Glenn Hymers, President & CEO of FaithLife Financial says “We realized that we needed to empower our advisors and brokers with a modern experience, including new digital tools to more effectively and efficiently serve customers. Breathe Life emerged from our rigorous review process as the best partner and provider for this critical digital transformation initiative.”

Newfront, a technology-driven insurance brokerage, has announced more than $100 million in funding, with lead investors Founders Fund and Meritech Capital. The company will use the funds to invest in its platform, resources for clients, and growth strategy. Its team include former employees of Alliant, HUB, and Lockton, as well as non-insurers like Uber, LinkedIn, and Intuit. "Newfront assembled the right team with the right vision and experience to bring about the change our industry so desperately needs,” shared Garth Hamilton, former Chief Sales Officer at HUB International who has the same role at Newfront.