Underwriting
XILO Raises Seed Funding, Hoping to Help Agents Compete With Lemonade
XILO, a San Diego-based InsurTech, announced at the end of 2020 that it has raised just over $2 million in seed financing to fuel development of an SaaS platform for insurance agents. In an indirect ...
Allianz Completes Two Acquisitions in the UK
Allianz Holdings plc, the U.K. subsidiary of Allianz SE, has completed its planned acquisition of the remaining 51 percent of LV General Insurance Group (LV GIG) from Liverpool Victoria Friendly ...
Liberty Mutual Takes on Uber Coverage in Three Regions
Liberty Mutual Insurance will provide coverage for Uber drivers and passengers throughout New England, South Carolina and Puerto Rico as part of the company's 2020 auto insurance programs, which ...
MGA Clearcover Pulls in $50M Financing, With Designs on Becoming Full-Stack Carrier
Clearcover, a managing general agent whose artificial intelligence-driven platform focuses on auto insurance, has raised $50 million in new financing. The money is designed to accelerate further ...
Commercial Lines InsurTech Bold Penguin Snatches Up E&S Brokerage Tech Platform xagent
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 ...
Balance Sheets at Risk? What’s Next for Workers Comp Insurers
Although workers compensation results remain strong—and the line continues to outperform all other commercial insurance lines—worries about continued soft pricing and loss reserve levels for ...
Growing Evidence of Vitamin E Acetate Link to Vaping Ills
Most patients stricken in a wave of vaping-related injuries had vitamin E acetate in their lungs, U.S. health officials found, reinforcing a suspected link between the compound and an outbreak that ...
NIST Study Finds Race Bias In AI Face Scanning Tech
Many facial recognition systems misidentify people of color more often than white people, according to a U.S. government study released on Thursday that is likely to increase skepticism of technology ...