State Farm Ventures was involved in a $111 million Series C funding round for May Mobility, an autonomous vehicle tech company. Tokio Marine also participated in the round. May Mobility plans to use the funding to deploy its programs using the Toyota Sienna Autono-MaaS vehicle platform, among other things. "May Mobility's technology is a potential compelling advancement in the evolution of autonomous driving and may help to reduce accidents and improve road safety," Michael Remmes, vice president of State Farm Ventures, said in a statement.
MassMutual announced its life and disability income insurance products are now available through iPipeline on iGO, a digital platform for insurance and financial services. MassMutual Strategic Distributors, a third-party distribution channel, is expanding access to more people by enhancing digital. "We are committed to significantly expanding our ability to deliver on our purpose to help people secure their future and protect the ones they love," said Lisa Todd, head of life and disability insurance distribution, MassMutual Strategic Distributors, in a statement. "With iPipeline's technology, we can provide our distribution partners with an easy, quick, and efficient digital journey that will help them grow their business."
Cover Whale, a commercial auto insurtech, is using Swiss Re’s Motor Market Analyzer, a predictive model for auto accidents, in its product offerings to enhance its risk predictions. "This is a powerful example of how advanced risk prediction tools can dramatically improve insurance protection," said Duare Perez, head of P&C analytics Americas at Swiss Re, in a statement. "We've seen Cover Whale make significant progress using technology to increase speed, efficiency and affordability, and we're thrilled to team up with them as they seek to further support their customers."
Neptune Flood, an AI flood insurtech, announced a partnership with SIAA to give member agents access to the insurtech’s instant flood solution, which provides more flood coverage. Neptune Flood will be available to members through the SIAA MarketFind, an online portal. "Our partnership with Neptune fulfills a growing demand for private flood insurance options, and alternatives to the coverage available through the National Flood Insurance Program," said SIAA Chief Operating Officer, Jeff Holmes, in a press release. "By adding Neptune Flood to our platform, member agencies will be able to offer their clients an outstanding flood coverage option, in an efficient, data-driven manner, often at considerable savings."
Amwins launched two wildfire products for residents in California. The single and multi-peril options are meant to complement a self-insured or California FAIR plan. "Our strategy at Amwins Access is two-fold: first, to deliver profitable results and best-in-class distribution for our market partners; and second, to problem-solve on behalf of our retail agent partners and build innovative products around their needs," said David Lavins, president of Amwins Access, in a statement. "That focus, in addition to months of productive collaboration with our market partners, contributed to a successful launch of excess wildfire products in California."
Next Insurance and Evident, an insurance verification service, partnered to create an embedded insurance program for small businesses through Next Connect. "Our mission is to enable small businesses to thrive by providing them with fast, affordable and customizable insurance. Our partnership with Evident helps small businesses achieve and remain compliant with the coverage requirements of their larger enterprise customers," Eric Harnden, vice president of partnerships and agency at NEXT Insurance, said in a press release.
Harford Mutual Insurance selects One Inc. ClaimsPay. The move is a part of the insurer's strategy to digitize its customer experience. The ClaimsPay technology will be integrated into the company’s claims administration software provider, Origami Risk. Ian Drysdale, CEO at One Inc, said in a statement: “As Harford Mutual adopts new ways to be more efficient, many insurers are eyeing their claims technology to provide digital infrastructure that can help them rapidly adapt to the ever-changing needs of customers and stay ahead of the competition.”