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We would all agree that you can’t hold a pre-schooler to the same standards of behaviour as their parents.
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The Dallas-based technology firm digitally distributes auto credit and insurance cover.
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The pay-as-you-drive insurer targets the UK’s 19 million low-mileage drivers.
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InsurTech investments and strategic partnerships continued to grow in the fourth quarter of 2018 -
Next Insurance became a licensed carried in 15 states, up from eight at the mid-year mark.
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Transaction numbers declined marginally year on year.
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Led by former Twelve Capital and Hannover Re executive John Butler, the vehicle will look to acquire a company within the (re)insurance and InsurTech space.
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InsurTech investment almost halved globally last year.
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Any successful industry leans on a few core, tried-and-tested concepts which sustain reliable enough returns over time to build a lasting business.
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The InsurTech plans to develop products for the international market.
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The tie-up will use technology from InsurTech firm Parsyl to cut the cost of managing claims.
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Current investors Valar and Ribbit have backed the raise.
