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The takeover last year was a significant piece of InsurTech M&A.
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The fund will invest in global "growth-stage” InsurTech and FinTech companies.
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The InsurTech could be merged into Reinvent Technology Partners, as Metromile prepares to go public in a similar transaction, Bloomberg reports. -
The latest of a cohort of start-ups will focus on specialty lines syndicated on a global basis through Lloyd’s.
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The newcomer was previously CEO for client and country management at Axa XL.
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The deal follows an agreement the reinsurance broker reached in December to partner with auction platform Tremor Technologies.
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Companies with strong brands still fall down on “traditional success criteria”, the InsurTech head says.
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Fourth-quarter funding recovers to $2.1bn, but remains 17% lower than the previous quarter.
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The automated follow-only syndicate aims for integration with broker platforms this summer.
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Marine insurance and reinsurance are target business areas, the project partners said.
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RenaissanceRe, Tokio Marine Kiln, Chaucer and Talbot also provide capacity for the consortium, which specializes in reputational risk.
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The UK carrier says the alliance will improve its access to start-ups.
