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The latest fundraise comes after the auto carrier entered the Californian market. -
CEO and Co-Founder Alex Timm said the company needs someone who can focus on managing growth.
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Co-founder Niall Barton will move from the CEO role to executive chairman.
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Bought By Many, Evari, Floodflash, Sherpa, So-Sure and Worry+Peace will join a trade mission to promote the UK InsurTech sector.
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Greenlight Re Innovations and three other investors participated in the round
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The investment is the 12th by the innovation unit since it was founded last year.
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A new platform will cover policy sales, claims, customer management and business intelligence.
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The Brazilian reinsurer will become the blockchain initiative’s only Latin American investor.
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The trade credit InsurTech’s policies were previously underwritten by Great Lakes Insurance, with whom it partnered in 2017.
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The EY-backed InsurTech is the world’s first marine insurance blockchain platform
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Insurers are expressing increased interest in innovation but are still being held back by legacy systems, says Damion Thompson.
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A group of 11 start-ups will focus on developing ‘ecosystem’ for the market.
