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Personal lines InsurTech Lemonade’s net loss rose by 22% to $67.9mn during Q2 from a $55.6mn loss in the same period last year, as its net loss ratio jumped 10 points to 90%, fueled by the strains of inflation. -
InsurTechs with diversified teams and deep-rooted technology are more likely to survive the current funding drought, according to MS&AD Ventures’ Jon Soberg.
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As partner at major InsurTech investor Anthemis, Ruth Foxe Blader explained to Insurance Insider why venture capitalists are pumping the brakes on InsurTech funding.
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The company becomes the latest InsurTech to cull staff as a result of financial challenges.
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The newly created role is part of Corvus’ efforts to expand internationally.
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The funding round has increased the InsurTech’s post-money valuation to $4.5bn.
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Metromile’s Preston and Lemonade co-CEOs Wininger and Schreiber all joined industry stalwarts in this year’s top 10.
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Allianz will back Coalition’s US and UK cyber programs.
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A report from Mapfre and other stakeholders including Mundi Ventures said there remains a $6tn opportunity to unlock in the sector.
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The InsurTech has tapped talent from Aon, McGill and Talbot as it expands.
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The funding round led by Force Over Mass Capital will trigger a hiring spree at Artificial Labs and fuel the development of its automated underwriting platform.
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More than 10% of the largest 200 carriers are “digital laggards”, a study shows.
