Digitalscouting Insurance Weekly Bites
Bite-Size Insurance Updates That You Need to Know
Out of 25 funding rounds this March, here are the top 6, according to a review by Digital Insurance.
List focuses on P&C and life insurance sectors that are part of the venture-capital financing model.
1.?????Policy Genius ($125 million, Series E) – insurance distribution platform investing in P&C and life insurance sectors that are part of the venture-capital financing model.
2.?????Cowbell Insurance ($100 million, Series B)?– positioned as one of the cyber insurance for SMEs
3.?????Kin Insurance ($82 million, Series D) – ?direct-to-consumer home insurance serving millions of households
4.?????Socotra ($82 million, Series D)?– allows customers to use a cloud-native platform that speeds up delivery and cuts the cost
5.?????Onuu ($5.2 million) – banking and insurance solution providing security?for 166 million Americans
6.?????Pendella Technologies ($5.2 million, Seed-2) – uses a cloud-based platform that simplifies insurance distribution
PYMNTS.com, a global leader for data, news, and insights, releases its latest PYMNTS Provider Ranking of Insurance Apps.
A few changes in the positions but the top spots remain the same.
1.?????GEICO Mobile, Car Insurance, and Progressive – last month’s leaders, a perfect 100
2.?????State Farm – 91
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3.?????Allstate Mobile – 89
4.?????Jerry: Car Insurance – 82
5.?????USAA Mobile – 81
6.?????Liberty Mutual Mobile – 80
7.?????Safeco Mobile – 73
8.?????Lemonade Insurance – 72
9.?????Travelers Mobile – 66
10.?Esurance Mobile and Farmers Insurance Mobile – 65?
Insurers shouldn’t underestimate the threats of climate change and at the same time should realize the opportunities.
Let’s take a look at 3 concerning surrounding insurance and the climate crisis
First, will prices go up? Right now, insurers are still in the process of exploring how to transition and manage the costs. A hike in premiums is likely but over time, insurers will be able to provide more affordable products.
Second, are data aligned? Do we have enough elevant climate metrics that would support underwriting? ?
“The insurance sector recognizes that the worst-case scenario could present risks that may not be fully covered by insurance.”?---?Ben Howarth, ABI Manager, Climate Change and Open Policy Data.
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