Insurtech

Insurtechs have secured more access to capital in the last few years and by the end of 2020 the total market cap of listed insurtechs surpassed $22 billion, according to the World Insurtech Report 2021.

In other news: Hippo launches Builders Program; handdii wins the 2021 ACORD Insurtech Innovation Challenge New York; Blockchain-backed title insurance launches in five states.

In other news: Ethos adds board members, new executives; One Inc partners with Mastercard on insurance payments; and Notion, a Comcast company, works with Honey Insurance in Australia.

Amazon will require third-party sellers to secure product liability coverage after reaching $10,000 in sales in one month on Amazon.

Arturo, a spin-out of American Family Insurance, was founded in 2018 and is a real estate data and analytics startup.

SynchronoSure has three insurance products available in 48 states, and will be adding new products over the next 60 days. GigBOP, a low-end property/casualty product for the gig economy and small business accounts; a trucking general liability product designed to protect the office and garage operations for small trucking companies; and a recently announced excess liability product.

There were about 12 funding rounds in the insurtech sector in August 2021, according to a review by Digital Insurance and with data from Crunchbase.

In other news: Breeze's new hire; Guidewire acquires HazardHub; New York Life partners with Empathy.

Consumers still trust established traditional insurance companies over newer insurtech startups. A majority of respondents said they would prefer to buy a policy from companies like AIG over startups like Lemonade.

In other news: Nexar partners with New York’s Black Car Fund and Hannover Re collaborates with ExamOne.

Several companies are using artificial intelligence and data analytics to better map properties for coverage in potential high-risk wildfire areas.

The insurance enables motorcyclists to customize their insurance all year round and pay for the time they ride instead of high predetermined rates.

The company discovered three main problems in the insurance market in Mexico. One was that people, in general, lacked information about insurance plans, the potential benefits, and how they could save money in terms of healthcare, legal services, and other areas.

Multi-channel approach integrated with product design holds the key to a new era of protection products.

The regulator has ordered companies and local agencies to curb improper marketing and pricing practices, and step up user privacy protection, according to a notice seen by Bloomberg News.

In other news: CoreLogic collaborates with One Concern on weather prediction technology and One appoints new CEO.

Research from Next, which surveyed 30,000 small businesses, found that over 40% don’t have business-specific insurance coverage and instead rely on personal insurance policies.

The pandemic didn't stop insurers from wanting to invest heavily in digital capabilities, Deloitte survey finds.

Its the biggest investment the vehicle has made to date in South African startups.

Wingsure to fill a gap by providing coverage for farmers in India with a platform that operates like a digital broker.