Insurance

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Swedish digital bank Northmill secures $30m for European expansion

/startups

Swedish digital bank Northmill secures $30m for European expansion

Swedish digital bank Northmill has raised SEK250 million (about $30 million) to fuel its expansion across Europe.

/startups

InsurTech Marble raises $2.5 million in seed round funding

Marble, the first digital wallet and loyalty platform for insurance, today announced $2.5 million in seed round funding.

/cloud

EIS expands coretech digital insurance platform to life and annuities

EIS, a digital platform provider for insurers, announced today the expansion of its core EIS Suite to carriers in the life and annuities markets. Cloud-native and customer-centered, the Suite allows insurers to innovate across all lines of business at scale, free from legacy constraints and inefficiencies.

/startups

Insurtech Inzmo raises €3.1m

Inzmo the Berlin headquartered insurtech transforming the laborious insurance process has closed a €3.1 million seed round led by Change Ventures.

/startups

BondAval secures $1.64 million pre-seed funding

Today BondAval announces it has secured $1.64 million (£1.2 million) in seed financing led by Insurtech Gateway alongside True Sight Partners and prominent angel investors such as Carlos Gonzalez-Cadenas (formerly COO of GoCardless, now Partner at Index Ventures), Yi Luo, Chris Adelsbach, Will Neale and Charlie Songhurst.

/retail

N26 and Allianz extend insurance partnership to cover pandemic travel claims

Digital bank N26 today announced that it would be expanding its Allianz Assistance travel insurance included with N26 You, N26 Business You, N26 Metal and N26 Business Metal to cover epidemic and pandemic related claims.

/people

Aviva appoints chief innovation officer, forms fintech investment partnership with Anthemis

Aviva, the UK’s leading insurer, today announces the appointment of Ben Luckett as Chief Innovation Officer.

/Insurance

OVO and Za Tech form insurtech JV in Indonesia

BCP, the holding company of Indonesia’s leading e-wallet OVO, and ZA Tech, a technology venture for overseas markets of ZhongAn Online P&C Insurance Co. Ltd., today announced a strategic insurtech JV to create an insurtech platform in Indonesia, towards fast-tracking digitalization of Indonesia’s insurance industry and improving financial inclusion.

/inclusion

Digital platform for immigrants moves into financial services

Homeis, the first digital platform for immigrant communities around the world, today announces it has reached one million registered members.

/Insurance

Business insurance for freelancers Dinghy joins Starling Marketplace

Dinghy has designed insurance with freelancers in mind. It offers professional indemnity, public liability and business equipment insurance policies to both sole traders and limited companies.

/Insurance

MassMutual to acquire fintech platform Flourish

Massachusetts Mutual Life Insurance Company (MassMutual) and Stone Ridge Asset Management (Stone Ridge), an asset manager with more than $10 billion in assets under management (AUM) that focuses on registered investment advisers (RIAs), institutions, and insurance companies, today announced that MassMutual and Stone Ridge Holdings Group have entered into a definitive agreement for MassMutual to acquire Flourish, a fintech platform for RIAs.

SocGen acquires online car buying platform Reezocar

/retail

SocGen acquires online car buying platform Reezocar

Societe Generale has acquired Reezocar, a French online platform for buying used cars. Financial terms were not disclosed.

/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.

Mexican neobank albo raises $45m

/startups

Mexican neobank albo raises $45m

Mexican digital bank albo has raised $45 million in funding round to fuel its expansion into lending and insurance, according to TechCrunch.

/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.

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