Global investment in insurance technology firms totalled $2.41 billion in the second quarter, down 50% from a year earlier, as investors grew nervous about frothy valuations, broker Gallagher Re said in a report on Thursday. Insurtech firms make up around …
Trōv, an early insurtech that started life as a creator of micro-duration policies and evolved into an embedded insurance specialist, announced this morning that The Travelers Companies will acquire its technology assets. Trōv did not disclose financial terms of the …
Digital insurer Lemonade plans to acquire California-based pay-per-mile auto insurance startup Metromile in an all-stock transaction as it continues to expand, Carrier Management reported. With the agreement, the New York-based insurtech stands to gain a national foothold in car insurance, …
Madison, Wisconsin-based American Family Insurance has closed the deal on acquiring the digital exchange Bold Penguin that serves small businesses. The Bold Penguin technology is used by insurance agents, brokers and other distributors to match, quote and bind policies from …
The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead, an insurance industry expert believes. “InsurTech is reaching a point where [startups] must decide whether …
Insurance technology firm Bold Penguin has acquired RiskGenius in a deal that the two commercial lines insurtechs said will help grow their reach more than they have been able to thus far on their own, Carrier Management reported. The main …
Home insurance insurtech agency Hippo plans to acquire New Jersey-based Spinnaker Insurance Co., an insurer with which it has has had a three-year partnership. The deal, first reported by Carrier Management, is designed to help Hippo – a managing general …
Bold Penguin, a commercial insurance exchange technology platform launched in 2016, announced it has acquired xagent, an independent, single-entry, multi-quote platform for standard and surplus lines business insurance market. Bold Penguin said the transaction will allow it to better serve …
Leading insurance technology firm Applied Systems has agreed to acquire digital insurance technology startup Indio Technologies. The move will enable Applied Systems to offer Indio’s digitized commercial insurance application and renewal process to its 13,000 agency and brokerage customers and …
Digital home insurance managing general agency Hippo Insurance has acquired an early-stage startup in a bid to beef up its digital home insurance services for clients, Carrier Management reported. The insurtech said it acquired Sheltr, a San Francisco-based tech-enabled services …
