Insurance

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/retail

SE 2buys Convergent Financial Technologies

SE2, a life and annuities insurance technology and services firm, today announced it has acquired Convergent Financial Technologies, growing its SaaS based product offerings for the insurance and retirement solutions industry.

/retail

Tesco Underwriting employs low-code for claims handling

Tesco Underwriting has partnered with Netcall, a leading provider of low-code and customer engagement solutions, to significantly enhance its complex claims handling process.

/startups

Insurtech Luko raises EUR50m

Luko -- one of the fastest-growing European insurtech leaders that prioritises social responsibility when protecting homes -- today announces it has raised €50 million in Series B funding led by EQT Ventures to deliver the best experience in home insurance, putting transparency and technology at its core.

/retail

Singapore FinTech Association inks MoU with Life Insurance Association Singapore

The Singapore FinTech Association (SFA), represented by Mr Chia Hock Lai, President of SFA and the Life Insurance Association Singapore (LIA Singapore), represented by Mr Khor Hock Seng, President of LIA Singapore, today signed a Memorandum of Understanding (MOU) on the sidelines of the Singapore FinTech Festival 2020.

/regulation

CMA fines ComparetheMarket £17.9m for competition law breach

An investigation by the Competition and Markets Authority (CMA) has concluded that, between December 2015 and December 2017, the price comparison website ComparetheMarket breached competition law by imposing wide ‘most favoured nation’ clauses on providers of home insurance selling through its platform.

/startups

Insurtech Bdeo raises EUR5m

Bdeo, the leading insurtech company in Spain and Latin America, has just closed a Series A round of funding worth €5 million. The fundraising was led by BlackFin, a European investment firm focused on financial services, with further support from current investors K Fund and Big Sur Ventures who invested €1 million in Bdeo’s seed round in 2019.

/Insurance

Flood forecasting InsurTech Previsico joins Lloyds Launch Innovation Lab

Live flood forecasting InsurTech Previsico today announcesthat it will join the ‘Launch Innovation Lab’, powered by Lloyds Banking Group (Lloyds), to collaborate on a solution to support Lloyds Home Insurance customers, as the frequency and impact of extreme weather increases.

/Insurance

EToro extends client protection insurance scheme up to £1million

Multi-asset investment platform eToro today announced the launch of an insurance scheme that will provide its clients up to £1million of protection in the case of insolvency free of charge.

/Insurance

Santander halves the time taken to receive online home insurance quotes

Customers looking for a home insurance quote will now receive a price from Santander in less than half the time, as it introduces a new process asking significantly fewer questions.

/Insurance

Razer Fintech moves into insurance with FWD Singapore

Razer Fintech is deepening their collaboration with FWD Singapore (FWD), the leading digital insurance provider in the region, by providing insurance coverage to its users in Singapore as part of the recently launched Razer Card – a Visa prepaid card solution unveiled recently by Razer Fintech and Visa.

/Insurance

GoCompare and Snoop form partnership

London and Norwich-based Fintech, Snoop, the free app that helps people find ways to save has agreed a new partnership with GoCompare.

/Insurance

State Street and SimCorp form business partnership

State Street Corporation (NYSE: STT) and investment management solutions and service provider, SimCorp (OMXC25: SIM), today announced their intent to form a business partnership to provide a premier, fully integrated, front-to-back investment outsourcing solution for insurance firms in Europe, Middle East and Africa (EMEA).

/Insurance

Oney Insurance to implement Comarch Business Intelligence

Malta-based Oney Insurance (PCC) Limited is set to implement a BI solution from a global software house, Comarch.

/covid-19

L&G sees clients move online during Covid

Since the start of the COVID-19 lockdown about six months ago, Legal & General has helped over a million more customers with their online services, recent usage data shows.

/startups

Insurtech Sunday raises $9m

Sunday, a leading full-stack insurtech has raised a USD 9 million pre-series B bridge round despite Covid-19 outbreak and global economic recession.

/wholesale

ING partners genesis to streamline credit and political risk insurance

ING is pleased to announce its partnership with genesis, the Low Code Application Platform for financial markets, to launch the Credit Insurance Application (CIA), a deal-flow and portfolio application which will transform the management of credit and political risk insurance (CPRI) globally.

/startups

Snoop incorporates Anorak's life insurance platform into app

London and Norwich-based Fintech, Snoop, has agreed a new partnership with Anorak, the smart life insurance adviser.

/retail

Pension provider for the self-employed Penfold joins Starling marketplace

Starling, the leading digital bank, has introduced Penfold to its Marketplace, bringing to self-employed people pensions they can set up, manage and track online or on their phone.

/startups

Direct Line buys insurance startup Brolly

Brolly was founded with a clear vision: ‘make insurance simple’. We’ve been on an incredible journey with our team, our product and our customers.

/crypto

Crypto insurer Evertas raises $2.8 million

Evertas, the world’s first cryptoasset insurance company, has completed a Seed Stage funding round and raised $2.8 million.

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