Cover Genius, an insurtech that offers an insurance sales and payments tools to online retail, travel, property, shipping and other companies in multiple languages and countries, has raised $10 million in new financing. King River Capital, a Sydney and California-based …
The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov. 6. Watson’s departure as CEO is a good thing for the bigger …
Catastrophe losses prevented American International Group from having a third quarter in a row of property/casualty underwriting profit this year, following many years of losses. AIG said that its General Insurance unit (property/casualty) generated $249 million in underwriting losses for …
Some insurers may be facing sizable risks stemming from the latest round of California wildfires now raging, but Chubb Chairman and CEO Evan Greenberg insists his company isn’t one of them. “We do have a quota share [reinsurance] agreement we …
A.M. Best plans to start assessing innovation as part of the credit rating methodology it uses to evaluate carriers in the first half of 2020, Chief Rating Officer Stefan Holzberger said. The initiative, disclosed earlier this year, won’t affect a …
Thimble, formerly known as Verifly, raised $22 million in new financing designed to fuel further expansion and diversification well beyond its original focus on on-demand drone insurance. Existing investors Slow Ventures, AXA Venture Partners and Open Ocean participated in a …
As insurers embrace insurtech in multiple ways, The Hanover Insurance Group’s Richard Lavey offers some advice: Not everything works as initially envisioned, and that’s OK. “‘If you build it, they will come’ is not necessarily how this plays out,” explains …
Insurtech Next Insurance has pulled in a $250 million financing round from a single investor: Munich Re. Palo Alto-based Next said it plans to use the Series C cash infusion to scale up its small business insurance products and expand …
Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back, according to experts …
It’s no secret: Innovators and regulators often clash. But both are needed to help enable a dynamic, consumer-friendly property/casualty industry in the future, insurance and insurtech experts said recently. “There will be more innovation and empowerment of the consumer, but …
