Join LendIt for a webinar about blockchain technology and how it can streamline operations for wealth managers and insurance back office operations; register here for the August 14 webinar at 2:00 PM EST; presenters include Jayant Khadilkar, global head of analytics and technology at Tiger Risk, and Ryan Rugg, business development at R3. Source
Provides details on announcements from both companies and compares the offerings; PolicyGenius has entered the rental insurance market, launching its rental insurance product this week; also this week Lemonade announced expansion of its rental and homeowners insurance to New Jersey. Source
The insurer launched a product based on taking a photo of yourself and their technology will then estimate a number of items based on the photo; the product is launched at SelfieQuote.com and according to Coverager this is the first products of its kind; this is currently being used in beta mode and the technology comes from Lapetus Solutions, Inc.; after the initial beta period Legal and General America will decide if this solution will become a mainstay of their offerings; Jim Galli, executive vice president of business strategy and innovation for Legal & General America, tells Coverager, "This could revolutionize the life insurance application process for millions of consumers, as it allows for a much more engaging user experience while also showing in a matter of seconds how affordable a life insurance policy can be." Source
Jetty is an insurtech startup that focuses on insuring belongings in customers' apartments; the company also announced a $4 million seed round from investors that include Ribbit Capital, Box Group, Social Capital, SV Angel, Red Swan, MetaProp NYC and Solon Mack Capital; the company is initially offering property coverage, liability coverage, loss of use coverage and medical payments coverage; consumers have the ability to upgrade if they have high priced items in need of insurance; Jetty was founded in 2016. Source
According to a new report from Accenture, nearly half of investment in insurtech startups globally is going towards artificial intelligence (AI) and internet of things (IoT) technology; the report, titled, "The Rise of InsurTech," includes analysis from CB Insights data on 450 insurtech deals over the last three years; the report was released with the launch of Accenture's Fintech Innovation Lab in London, which will include a focus on insurtech. Source
Join LendIt for a webinar about blockchain technology and how it can streamline operations for wealth managers and insurance back office operations; register here for the August 14 webinar at 2:00 PM EST; presenters include Jayant Khadilkar, global head of analytics and technology at Tiger Risk, and Ryan Rugg, business development at R3. Source
Join LendIt for a webinar about blockchain technology and how it can streamline operations for wealth managers and insurance back office operations; register here for the August 14 webinar at 2:00 PM EST; presenters include Jayant Khadilkar, global head of analytics and technology at Tiger Risk, and Ryan Rugg, business development at R3. Source
Allianz has invested in Lemonade, an insurance startup powered by artificial intelligence and behavioral economics; Solmaz Altin, chief digital officer stated: "Allianz is committed to staying at the cutting edge of insurance. We follow the insurtech space closely and globally, and have seen nothing to match Lemonade in terms of technology, user experience and business model innovation. We're thrilled to become a stakeholder in Lemonade, and will do what we can to accelerate their rapid expansion throughout the US and beyond." Source
Insurtech firm Trov has announced a $45 million investment from a Series D fundraising round; the platform plans to use the funds to expand its products, further develop its technology and enter new global markets; investors in the recent fundraising round included Munich Re/HSB Ventures, Oak HC/FT, Suncorp Group, Guidewire, Anthemis and Japan's Sompo Holdings; the single item insurer is already active in Australia, the UK and the US with its next expansion planned for Japan. Source
Through the partnership BBVA Compass Insurance Agency will offer a new online insurance portal powered by Covr; BBVA Compass Insurance Agency is an affiliate of banking provider BBVA Compass which is supported by the Spanish bank BBVA; the new insurance offering will provide customers with a range of options and quote comparisons for life, disability, home, auto and pet insurance with access through desktop and mobile connections. Source
