InsurTech
Global InsurTech Investment Down 50% in Q2: Gallagher Re
Global investment in insurance technology firms totaled $2.41 billion in the second quarter, down 50 percent from a year earlier, as investors grew nervous about frothy valuations, broker Gallagher ...
Lemonade Lays Off Metromile Employees Immediately
Immediately after Lemonade closed its deal of Metromile on July 28, job boards lit up with news of layoffs at the acquired company. Former Metromile employees have been posting the news on LinkedIn, ...
Why InsurTechs Should Be Scared of the Reinsurer’s Veto
Cash burn is so 2020. To keep with the recent theme of calling out the obvious, it's time to talk about the next big risk for product-centric InsurTechs. It's not cash burn. Everyone knows about that ...
Lemonade Closes Deal for Metromile
Digital insurer Lemonade said it has closed the acquisition of pay-per-mile car insurance provider Metromile in an all-stock transaction. Metromile shareholders received 7.3 million Lemonade shares, ...
Openly Announces Launch of Licensed Homeowners Insurance Carrier
Openly, a premium homeowners insurance platform that formerly operated solely as a managing general agency, announced the launch of the Openly Insurance Company, an insurance carrier based in South ...
InsurTech Funding Levels Hold Steady in Q2 vs. Q1: CB Insights
Funding for the InsurTech sector held steady in the second-quarter of 2022, coming in at roughly $2.4 billion, the same as the overall funding figure recorded for first-quarter 2022, according to ...
Digital Trucking MGA Koffie Raises $11M, Plans 10-State Expansion
A Brooklyn, N.Y,-based managing general agency for the trucking and transportation sector has closed an $11 million Series A funding round, bringing the company's total funding to date to $15.5 ...
Are MGAs Winning the Insurance Talent War?
With more than 1,000 managing general agents writing roughly $70 billion in direct premiums last year, researchers at Conning believe one growth driver is the fact that the MGA model attracts talent. ...