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While many brokers are embracing clearing platforms, some firms feel threatened by the technology.
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The InsurTech specialist says the most successful firms often pivot towards a broader customer base. -
The carrier will offer workers’ comp cover through the digital portal.
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The CoverWallet CEO and co-founder says a smaller number of start-ups will receive a greater proportion of funding.
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InsurTech details fac, proportional and per-risk cover in IPO filing.
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The company, which shelved tentative IPO plans last year, said the offering is subject to market conditions.
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Pie split its investors into two groups: growth-hungry VCs and those investors prepared to finance a balance sheet.
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Root grew gross written premiums by 85 percent in Q1 to $144mn, according to statutory filings.
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CEO Macia said the closure was "not a criticism of our technology, team or mission".
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The fronting carrier will allow the MGA to extend its geographical reach.
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The Sirius-backed InsurTech will look to buy up shell entities to expand.
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The InsurTech space is likely to see falling valuations and less availability of early-stage funding, panellists at InsiderTech London said.
