Latest Insurance News: Finextra Research

Payments system cyber attack could cost the world $3.5 trillion

Insurance marketplace Lloyd's of London is warning that a major cyber attack on a systemic payments system could cost the world economy $3.5 trillion.

20 October 2023

News/people

The rise of the theme-based super app

Elon Musk's ambition to turn X into a WeChat-like everything app is doomed, predicts the man building his own "theme-based" super app, called Super.com.

06 October 2023

News/wholesale

Irish insurtech raises A$40m in funding round

Fineos, a Dublin-based tech firm that develops software for insurance companies, has pulled in A$40m (€24m) in its latest funding round.

17 August 2023

News/markets

Vesttoo files for bankruptcy protection

Crisis-hit fintech Vesttoo has filed for Chapter 11 bankruptcy protection.

15 August 2023

News/markets

Vesttoo to sack 75% of staff

Israel-based Vesttoo, which uses artificial intelligence technology to connect the insurance industry and capital markets, is laying off 75% of its staff amid a growing scandal over the alleged use of a fraudulent letter of credit in a multi-billion dollar insurance transaction.

03 August 2023

News/retail

JPMorgan and Barclays back German InsurTech wefox

Wefox, the Berlin-based InsurTech, has secured US$55m credit facility from JPMorgan and Barclays alongside a $55m second close in its Series D at US$4.5bn valuation from existing investors and new investors including Squarepoint.

17 May 2023

News/payments

Walmart invests $200m in Indian fintech PhonePe

Indian mobile payments company PhonePe has secured $200 million in primary capital from US retail giant Walmart.

17 March 2023

News/startups

Payroll and benefits fintech Catch shuts down

Personal payroll and benefits fintech Catch is shutting down after admitting it is not the one to topple a "trillion dollar ecosystem".

09 March 2023

News/identity

Banks back 'Japan Metaverse Economic Zone'

Major Japanese banks and tech firms have banded together on a metaverse infrastructure project that will, among other things, provide payments, authentication, and insurance services for users across platforms.

28 February 2023

News/startups

Altari Ventures launches fintech and insurtech fund

Early-stage venture capital firm Altai Ventures has closed a $53 million fintech and insurtech fund.

23 February 2023

News/startups

Vittoria hub seeks insurtech incubator participants

Italian insurtech incubator Vittoria hub is on the hunt for its latest batch of startups from Europe and the US.

16 February 2023

News/payments

India's PhonePe raises $100m at $12bn valuation

Weeks after a $350 million raise, Indian digital payment platform PhonePe has secured another $100 million in funding at a $12 billion valuation.

15 February 2023

News/retail

Augmentum makes first insurtech investment

UK listed fintech fund Augmentum has led a funding round into Berlin-based cyber insurance platform Baobab, with a €3 million investment.

30 January 2023

News/cloud

New Singapore digital bank Trust selects Thought Machine core

Trust Bank, the Standard Chartered and FairPrice-backed digital challenger that recently launched in Singapore, is running on Thought Machine's cloud-native core platform.

30 November 2022

News/retail

Amazon launches UK home insurance comparison site

Amazon has introduced an online home insurance comparison service in the UK, signing up three of the country's largest providers as participants.

19 October 2022

News/startups

Aviva pumps $10 million into female fintech fund

Aviva has invested $10 million in a VC fund that backs female entrepreneurs in the fintech industry across the UK, Europe, Canada and the US.

26 September 2022

News/retail

Ant launches digital operations platform for insurers

Ant Group's insurance arm has launched a blockchain-based digital operation platform for insurance companies in China.

07 September 2022

News/startups

Insurtech Gateway completes first close on Seed Fund II

Insurtech Gateway has completed the first close of its Seed Fund II, enabling it to back 20 startups over the next four years from pre-seed to Series A.

21 July 2022

News/devops

Zurich picks Mendix low-code to roll out next-gen solutions

International insurance company, Zurich, has partnered with low-code platform Mendix to roll-out a Terrorism Data Capture solution for automated coverage, among other updates.

07 July 2022

News/startups

Insurance startup YuLife raises $120m

UK tech-driven insurance outfit YuLife is set for global expansion after raising $120 million in a Series C funding round led by Dai-ichi Life Insurance Company.

07 July 2022