Startup

Since 2017, there have been 86 weather-related disasters in the U.S. exceeding $1 billion in damage.

There were about 25 funding rounds.

The round isn’t finalized yet and the details could change, the people said, who asked not to be named discussing private information.

Forbes recently released its fourth annual list of America’s Best Startup Employers, which includes 12 insurtechs.

This was supposed to be the first year Ukraine would send an official delegation of startups to South by Southwest, the annual technology and arts festival in Austin, Texas. The plan was, of course, disrupted by a war at home.

As this booming market evolves, the value of innovation by insurtech startups is becoming clear. These companies drive change by meeting customer demands, as consumers increasingly demand insurance is delivered in a way that suits them – digital services that are quick and easy to use.

The company is preparing to begin operations in seven new markets in 2022 -- Mexico, Colombia, Argentina, Peru, Ecuador, Panama and Costa Rica –- using the proceeds of its Series C round, according to founder and Chief Executive Officer Eduardo della Maggiora.

In 2020, American Family Insurance launched a partnership with the Creative Destruction Lab and the University of Wisconsin-Madison that provides support and mentorship to start-up founders in their companies’ early stages. A year into the partnership and there are truly inspiring to learn from the startup founders.

Insurtechs are everywhere, covering every sector and raising money at record-setting clips. But the legacy insurance businesses, from carriers to agencies, have already been here and have the deep pockets to remain. So naturally the story has become about competition for market share.

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