Capital markets

CEO Mario Schlosser said in a statement Monday that it had submitted its draft registration for an IPO to the SEC.

Buoy Health, a startup that makes a widely used Covid-19 symptom checker, has raised $37 million from investors including the venture arms of major insurers Cigna Holding Co., Humana Inc. and UnitedHealth Group.

About $5 billion has been invested in insurtech this year, and top-tier insurers have taken part in more than 60 deals.

The Columbus, Ohio-based company sold 24.2 million shares, together with investors selling 2.6 million shares of their own, at $27 each.

Bank will partner with Anthemis, which is one of the most active insurtech investors.

The startups will work closely with 18 member corporations to establish proofs of concept and partnerships.

The 23 rounds of more than $10 million is indicative of a noted shift toward mature companies.

As carriers, distributors, service providers and insurtechs consider how to adapt these initial pandemic responses into long-term strategies, we see heightened interest from investors to provide strategic support.

Despite a big dip in March and April, insurtech funding in the first half of 2020 is only 2% behind last year.

PasarPolis offers microinsurance, allowing ride-hailing drivers, couriers and online shoppers and sellers to buy protection that cost as little as a few U.S. cents.