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The round was led by Palm Drive Capital.
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The "Hundreds" product will have a $100mn limit excess of $100mn, and cover 100 named perils.
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The company claims to be the first UK InsurTech to secure authorisation in its own right.
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The startup is a digital MGA that helps businesses sell insurance on through their own websites.
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Adrian Turner will report directly to CEO Andrew Yeoman and replaces John Colwell.
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The company models surface water flooding in real time.
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The funding was led by the public-private InsuResilience Investment Fund with Barn Investimentos also participating.
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The InsurTech’s co-founder Shai Wininger says the telecom’s actions evoke a ‘Disney villain’. -
Travelers will use AI to extract risk information from documents submitted by brokers
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The report showed record levels of funding but also emerging geographies, a changing funding composition and renewed B2B focus.
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Is the much-vaunted collaborative approach by the (re)insurance and tech industries working out as planned?
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Overall InsurTech funding for the first nine months outstrips the 2018 total, the broker says.
