insurance

  • The case of alpha business models and beta technology Crunch Network

    The case of alpha business models and beta technology

    Allstate is on a mission to vertically develop its telematics expertise and find new sources of revenue across different sectors by launching a new standalone unit called Arity (dedicated to data collection and analytics). It’s no surprise that Allstate’s own brands, such as Esurance and Answer Financial, are clients. It’s a start on the path to the unknown. Read More

  • NextHealth raises $8.5M from Norwest to drive down medical costs

    NextHealth raises $8.5M from Norwest to drive down medical costs

    One of the few remaining universal truths is that healthcare costs are too high. Insurance companies are bucking under the pressure from the Affordable Care Act (ACA), and they are willing to try almost anything if it means reducing costs. With a shiny $8.5 million Series A from Norwest Venture Partners, NextHealth will be making that exact promise of reducing healthcare costs to U.S. Read More

  • Quilt launches to blanket a generation with a new kind of insurance policy

    Quilt launches to blanket a generation with a new kind of insurance policy

    A new company, Quilt is launching in the U.S. and setting its sight on fixing the incredibly, painfully, broken experience of getting insured in America. For consumers new options for insurance can’t come fast enough. A recent exposé by 60 Minutes of the life insurance business found that several firms are failing to pay out to beneficiaries of policy holders. And that’s… Read More

  • Insurance is ready for an upgrade Crunch Network

    Insurance is ready for an upgrade

    Insurance may be widely perceived as a sleepy backwater when it comes to innovation in technology, but that’s about to change. Whether the transformations to come — which we expect to impact the industry on a number of different fronts — end up bolstering a particular insurer’s future or undermining it depends on whether they seize the opportunity to reinvent their… Read More

  • Liability in the coming age of autonomous autos

    Liability in the coming age of autonomous autos

    While we are many years away from an autonomous utopia, where cars pick us up and drive us where we need to go without a human at the wheel, we are seeing the first steps toward self-driving cars. Volvo, Honda, Audi, Tesla—pretty much every auto manufacturer, plus Google and probably Apple—is incorporating advanced driver assistance systems (ADAS) into cars we can buy right… Read More

  • Insurance firm China Life puts $600M into Didi Chuxing months after backing Uber

    Insurance firm China Life puts $600M into Didi Chuxing months after backing Uber

    Can’t beat ’em, join ’em. That appears to be the motto of China Life, Asia Pacific highest valued insurance firm, after it backed Chinese taxi app Didi Chuxing barely months after investing in its fierce rival Uber China. Read More

  • Why the recent hype about insurance tech will be just the beginning Crunch Network

    Why the recent hype about insurance tech will be just the beginning

    For those who follow technological innovation, it can often seem like certain areas of investor enthusiasm come out of nowhere — suddenly and with huge momentum. The wave analogy is often used, and not incorrectly — fevered investment propels increasing interest and drives new opportunistic entrepreneurs into a specific industry area, building until it inevitably crashes as… Read More

  • Can startups disrupt the $20 billion cyber insurance market? Crunch Network

    Can startups disrupt the $20 billion cyber insurance market?

    Over the past few years, cyber insurance markets have been growing at between 25-50 percent CAGR each year. According to The Betterley Report 2015, annual policy premiums are approaching $2.75 billion. The ecosystem of insurance underwriters, intermediaries/brokers, analysts/management consultants and compilers of insurance market information is evolving rapidly, trying to make the most of… Read More

  • Insurance brokerage is broken Crunch Network

    Insurance brokerage is broken

    While many factors are driving the tipping point in the online distribution of insurance, the thread that ties it all together is simple: changing demographics. Insurance companies cannot expect to sell the same way to a cohort with fundamentally different purchasing habits and expectations. Players that can find new ways to sell insurance products — to new audiences that are used to… Read More

  • With $25.5M in new funding, Trov launches on-demand insurance for individual items

    With $25.5M in new funding, Trov launches on-demand insurance for individual items

    Insurance isn’t necessarily an inviting word, especially for millennials. Not only do young people have fewer items to insure, but the process of getting insurance for those items is entirely foreign to folks who order their cars, food, cleaning services and more from an iPhone app. That’s where Trov comes in. Trov is an on-demand insurance platform that lets users buy insurance… Read More

  • The new-world insurance agent Crunch Network

    The new-world insurance agent

    Silicon Valley is building the new-world insurance agent. My grandfather started selling insurance in the 1950s and insurance eventually granted him the American dream. Today, the industry accounts for 7 percent of U.S. GDP, with more than $1.1 trillion of net premiums paid annually. The aged way of conducting business is pushing the Valley to disrupt all layers of the value chain. Read More

  • Fintech’s $138 billion opportunity Crunch Network

    Fintech’s $138 billion opportunity

    Fintech is in the midst of a golden age of investment and innovation. According to KPMG and CB Insights, investments in fintech startups doubled between 2014 and 2015, to $14 billion. However, comparatively little of this money has been focused on the $138 billion market opportunity to disrupt alternative financial services in the United States. This lack of focus is damaging… Read More

  • Slice Labs raises $3.9M to insure on-demand workers when they’re on the job

    Slice Labs raises $3.9M to insure on-demand workers when they’re on the job

    Tim Attia, co-founder and CEO of Slice Labs, said there’s “a ticking time bomb” threatening the on-demand economy — namely, insurance and liability. Attia’s tackling that problem with Slice, which will offer insurance for on-demand workers and providers, starting with rideshare drivers and then homeshare hosts. The startup is announcing today that it has raised… Read More

  • Still Stealthy, New Insurance Company Lemonade Continues To Impress With New Hire, Dan Ariely

    Still Stealthy, New Insurance Company Lemonade Continues To Impress With New Hire, Dan Ariely

    The still-stealthy Lemonade continues to build out an impressive team giving some hope that its new model for insurance (the company’s tagline is “Insurance that doesn’t suck.”) will live up to its promises. Read More

  • The Next Billion-Dollar Insurer Crunch Network

    The Next Billion-Dollar Insurer

    Venture capital-backed insurance success stories have risen at a regular drumbeat over the last few years: 2011 brought the billion-dollar Esurance acquisition, 2012 brought the wildly successful Guidewire IPO, 2013 brought the large Climate Corp. acquisition and 2014-2015 brought Zenefits to prominence. Each of these companies pulls a piece of the insurance industry kicking and screaming into… Read More

  • The Internet Of Medicine Is Just What The Doctor Ordered Crunch Network

    The Internet Of Medicine Is Just What The Doctor Ordered

    Healthcare reform has eluded Congress for more than two decades. It seems technology, driven by the Internet of Things (IoT), could well make the biggest transformation of all. In many respects, IoT is just what the doctor ordered. It holds the key to lowering medical costs, improving quality and making healthcare more personalized, accessible and affordable for average patients. Read More

  • Opportunities In The Risk Business Abound As Insurance Is Ready For Disruption Crunch Network

    Opportunities In The Risk Business Abound As Insurance Is Ready For Disruption

    Whether medical, automotive, life, residential, or commercial, the value proposition of smoothing out potential cash flow outlays often makes sense. Pretty cool. But on any chart highlighting relative customer satisfaction across industries, you will consistently find that insurance ranks among the last — only ahead of real estate, telcos and cable companies. Read More

  • MIT Spinout Insurify Raises $2 Million To Replace Human Insurance Agents With A Robot

    MIT Spinout Insurify Raises $2 Million To Replace Human Insurance Agents With A Robot

    Insurify, a startup out of MIT, today announced the launch of Evia (Expert Virtual Insurance Agent), an artificially intelligent virtual insurance agent that aims to find you better car insurance using a photo of your license plate. The company recently pulled in $2 million in seed from Rationalwave Capital Partners to create EVIA and launch its robo-agent platform. “We barely have time… Read More

  • The Zebra, A “Kayak For Auto Insurance,” Grabs $17 Million To Better Educate Drivers About Rates & Coverage

    The Zebra, A “Kayak For Auto Insurance,” Grabs $17 Million To Better Educate Drivers About Rates & Coverage

    Austin-based The Zebra, a startup that’s something of a “Kayak for auto insurance,” has been working to bring the process of shopping for insurance online, where consumers can more transparently compare quotes and understand how insurance companies determine rates. Now the company has raised an additional $17 million in Series A funding led by Ballast Point Ventures. The… Read More

  • Tech And The Changing Face Of Insurance Crunch Network

    Tech And The Changing Face Of Insurance

    It’s only 2016, but the real world is quickly moving into the realm of science fiction. Drones, driverless cars and not-really-hoverboards are (or soon will be) commonplace. We’ve also seen technology change industries not normally associated with the term “cutting edge.” But with these new toys and technologies come questions. Here’s the one question everyone… Read More

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