Insurance

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/regulation

Qover secures FCA authorisation licence

Qover, leader in embedded insurance orchestration, proudly announces the successful granting of a Financial Conduct Authority (FCA) full authorisation.

/payments

Fintechs team up to support nine million at-risk workers, with better sick pay

Wagestream, the UK’s fastest-growing fintech-for-good, has teamed up with French insurtech Wakam to launch Enhanced Sick Pay – a new product providing workers with affordable sick pay cover.

/sustainable

Third consecutive year for weather-event insurance claims to top $100 billion

A new insurance sector report from Bloomberg Intelligence estimates that insured losses from natural catastrophes in H1 2023 point to 2023 being the third straight year of weather-event claims topping $100 billion, with much of these coming from secondary perils such as floods, hail and wildfires. All of the latter are becoming more frequent as global temperatures rise, notes BI.

/people

Insurtech Inzmo names ex-Skype COO Michael Jackson chairman

Inzmo, the Berlin insurtech transforming the rental sector with its financial services products that help tenants and landlords protect their rental property, income and belongings, has officially appointed Michael Jackson as its first Chairman of the Board of Directors.

Irish insurtech raises A$40m in funding round

/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.

Vesttoo files for bankruptcy protection

/markets

Vesttoo files for bankruptcy protection

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

/startups

InsurTech SureIn seals €4 million seed round

Berlin-based InsurTech startup SureIn has closed a €4M Seed round for its mission to provide end-to-end insurance solutions to small and medium-sized businesses (SMBs).

/retail

Relationship-based lending app Zirtue partners TruStage for loan insurance

Zirtue, the world’s leading relationship-based lending app with a mission to drive financial inclusion, announces today its partnership with TruStage, a financially strong insurance, investment, and technology provider, built on the philosophy of people helping people.

Vesttoo to sack 75% of staff

/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.

/wealth

Worldsource selects Broadridge for digital marketing

Worldsource Wealth Management and IDC Worldsource Insurance Network Inc. are pleased to announce they have partnered with global Fintech leader, Broadridge Financial Solutions Inc. (NYSE: BR), to help their advisors provide relevant, timely communications to their clients using Broadridge’s automated digital marketing platform AdvisorStream.

/wholesale

AXA Hong Kong and Macau teams up with CoverGo

AXA Hong Kong and Macau (“AXA”), today announced its collaboration with CoverGo, the leading global no-code insurance SaaS core platform for health, life, and P&C, to improve AXA’s general insurance ecosystem in Hong Kong.

/retail

Insurtech Qover secures $30M in Series C funding round

Qover, a leading insurtech specialising in embedded insurance orchestration, has successfully closed a $30 million Series C up-round funding.

/retail

InsurTech Qover embeds with Monzo

Qover partners with Monzo to offer Premium users in the UK a new way to track and submit insurance claims within the Monzo app, making the insurance experience for its embedded travel protection seamless and user-friendly.

/security

Wallife to launch digital identity theft insurance to UK consumers

UK consumers may soon obtain digital identity theft insurance to protect themselves from online threats and risks, thanks to new solutions from the insurance company Wallife.

/wholesale

SME InsurTech Insify raises €10 million Series A extension

Insify, the modern insurtech for SMEs, has raised an additional €10 million, bringing its total Series A funding to €25 million.

/retail

Ohio Mutual Insurance Group partners bolt to embed smartphone coverage

bolt, the insurtech with the country's largest technology-enabled insurance exchange and a global leader in device protection programs, today announced a partnership with Ohio Mutual Insurance Group (Ohio Mutual), the award-winning insurance company that has worked with independent agents to distribute property and casualty insurance for more than 100 years.

/crypto

Digital asset-denominated life insurer Meanwhile snags $19 million funding round

Meanwhile, the first and only life insurer entirely denominated in a cryptocurrency, has announced ~$19 million in financing across two seed rounds, the first co-led by Sam Altman, CEO of OpenAI, and Lachy Groom, previous head of Stripe issuing, and with Gradient Ventures (Google) in the top spot during the second round.

/retail

Reale Group takes minority stake in Fabrick

Reale Group, a renowned player in the insurance industry which operates in Italy, Spain, and Chile, has selected Fabrick, a pioneer in the Open Finance sector, as its preferred partner to digitise its offerings and enhance the customer experience.

/retail

Simplifai debuts generative AI tool for insurance

Simplifai, an AI automation solutions provider, today launches Simplifai InsuranceGPT – a world-first custom-built GPT tool, fuelled by the company’s revolutionary no-code AI-powered platform.

/retail

Insly launches global, no code, sales software for brokers

Insly, the no code software provider, has launched BrokerFlow, a tool enabling brokers to digitise their sales workflow, including application forms, risk surveys and customer proposals.

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