Markets
Mitsui Sumitomo Invests in Upstream Security for Strategic Telematics Partnership
Upstream Security has raised $36 million from Japanese carrier Mitsui Sumitomo Insurance as part of a strategic partnership designed to advance telematics in insurance. Upstream, based in Israel, is ...
Lemonade Makes Progress Building Its Brand, Spending Money to Make Money
Lemonade remains a money-loser, but the digital insurer continues to take steps toward building a sustainable business. One of those key areas is in advertising spend. In the company's Q1 2021 ...
SPACS, or Reverse Merger Companies, Raise Record $100B in 2021 So Far
Special purpose acquisition companies (SPACS) have raked in a record $100 billion through initial public offerings so far in 2021, data from Refinitiv showed, in what has been Wall Street's biggest ...
CNA Made a $40 Million Ransom Payment Following March Cyber Attack
CNA Financial Corp., among the largest insurance companies in the U.S., paid $40 million in late March to regain control of its network after a ransomware attack, according to people with knowledge ...
Executives On The Move at CNA, USAA and Markel
CNA appointed a new General Counsel. USAA hired on a new Chief Data and Analytics Officer. Markel Corporation promoted a rising executive to the position of Managing Director, Global Cyber ...
Pandemic Has Had ‘Profound Impact’ on Women in Insurance: Accenture
COVID-19 has had a "profound impact on the productivity and well-being" of women working at U.S. insurance companies, according to new research from Accenture. In March, as part of its "Women in FS" ...
Arity Telematics Tool Pitched as Helping Insurers Better Leverage Driving Behavior
Arity, an Allstate-founded mobility data and analytics startup, has launched a telematics tool designed to help insurers more efficiently leverage driving behavior for better pricing. The product – ...
Boost Raises $20M for Deeper Dive Into ‘Embedded Fintech Revolution’
Boost Insurance attracted $20 million in new financing from multiple investors it will use to dive deeper into what CEO Alex Maffeo refers to as the "embedded fintech revolution." The New York-based ...