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Publicly traded Lemonade has laid off about 60 employees of Metromile, the auto insurtech company it recently acquired — adding to the volatility the technology sector has seen over the past 18 mont
Why are companies that went public via SPACs struggling? Did they catch a headwind from changing market conditions that previously pushed them forward? You bet. But the damage is also self-inflicted.
Insurtech startups that can retain a tech multiple have a shot at keeping their valuation intact; those that don’t may struggle.
The past 12 months in cybersecurity have been a rough ride. In cybersecurity, everything is broken — it’s just a matter of finding it — and this year felt like everything broke at once, espe
We're seeing the quality of tech companies that go public at times decline, leading to more risk available to consumer investors -- not just the professionals.
The companies we're examining cover auto insurance (Root, MetroMile), home and rental insurance (Hippo, Lemonade), and health insurance (Oscar Health). All are taking a whacking by the market. Why?
Either the neoinsurance companies' long-term models will come to fruition thanks to large cash balances providing runway to prove their point, or Wall Street is correct -- they were always overvalued.
The players in the space that we can name and track are generally cash-rich and market-sentiment poor.
Volkswagen says more than 3.3 million customers had their information exposed after one of its vendors left a cache of customer data unsecured on the internet. The car maker said in a letter that the
Geico, the second-largest auto insurer in the U.S., has fixed a security bug that let fraudsters steal customers’ driver’s license numbers from its website. In a data breach notice filed w
Next Insurance recently announced that it has raised a $250 million round, valuing the SMB-focused insurance provider at $4 billion. The company last raised another $250 million in September 2020, at
We spoke to Metromile CEO Dan Preston about what the day meant for his company and learn more the SPAC process for our own enjoyment.
Car insurance startup Metromile said it has fixed a security flaw on its website that allowed a hacker to obtain driver license numbers. The San Francisco-based insurance startup disclosed the securit
As we head toward the exits of 2020, we have one more name to add to our roll call of private companies that have reached the $100 million annual recurring revenue (ARR) milestone. Well, one and a hal
Expect to keep hearing about insurtech for quarters and quarters to come.
Did you follow all of the unicorn news from the last couple of weeks? No? Here’s a list of headlines to catch you up....
Earlier this week, TechCrunch covered the latest venture round for AgentSync, a startup that helps insurance agents comply with rules and regulations. But while the product area might not keep you up
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In the wake of insurtech unicorn Root’s IPO, it felt safe to say that the big transactions for the insurance technology startup space were done for the year. After all, 2020 had been a big one f