InsurTech
Lemonade Records Another Q2 Loss, Changes Pace for Profitability
InsurTech Lemonade said it booked a second-quarter net loss of $67.9 million compared with a net loss of $55.6 million during the same quarter last year, but in a letter to shareholders the company ...
Pie Insurance Partners With Bold Penguin, Talage and Tarmika
InsurTech Pie Insurance, which specializes in workers comp insurance for small businesses, has formed strategic partnerships with three leading commercial insurance platforms: Bold Penguin, Talage ...
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 ...