In a significant move within the InsurTech sector, Anterior, a company specializing in AI-enhanced health insurance approvals, has successfully secured $20 million in a Series A funding round predominantly led by NEA, a well-regarded venture capitalist firm. The round also saw participation from established investors like Sequoia and Neo, along with contributions from several angel investors, including notable industry figures
DrinkPAK, a producer of canned beverages based in California, has initiated legal action against Paylocity, a cloud-based payroll software company. At the heart of this legal dispute lies the crux of serious compliance issues caused by Paylocity’s software, which reportedly contains significant errors. These software challenges were severe enough to lead DrinkPAK to settle two class action lawsuits involving wage
The enforcement of the U.S. Equal Employment Opportunity Commission’s (EEOC) regulation mandating employer accommodations for elective abortions as part of pregnancy-related conditions has sparked significant legal and ideological debates. Emerging from the Pregnant Workers Fairness Act (PWFA), this rule, which also includes provisions for pregnancy, childbirth, and related medical conditions, has faced substantial resistance and legal pushbacks, culminating in a
The automotive and insurance sectors are undergoing significant transformations, driven by technology and evolving customer expectations. In a notable development, Stellantis Financial Services US and bolt have teamed up to redefine the auto insurance purchasing experience. This collaboration aims to leverage advanced technologies to offer customized, efficient, and accessible insurance solutions directly to customers. With this partnership, Stellantis aims to
The collaboration between OpenRoad Insurance and Majesco marks a significant development in the InsurTech sector, focusing on the unique needs of collector vehicle owners. By leveraging Majesco’s advanced technological solutions, this partnership aims to enhance OpenRoad’s market reach and operational efficiencies, delivering a state-of-the-art digital experience that combines comprehensive coverage with fair pricing. This strategic alliance promises not only to
The non-payment insurance sector has long contended with notable inefficiencies, especially in managing the myriad broker inquiries that underpin the underwriting process. Recognizing this challenge, Allianz Trade, a global insurer, and BPL, a specialist credit and political risk insurance (CPRI) broker, have embarked on a transformative collaboration to develop an innovative API-integration inquiry system. By leveraging the capabilities of Verisk’s
Sapiens International Corporation has unveiled its latest innovation, a next-gen intelligent insurance platform that integrates advanced AI technologies and is cloud-native. This platform signifies a pivotal development for insurers, empowering them to leverage sophisticated digital tools to enhance efficiency, customer engagement, and operational agility. The collaboration with Microsoft further strengthens the platform’s potential, underscoring its transformative impact on the insurance
Columbia Insurance Group has announced a transformative partnership with Guidewire, a leading provider of insurance software solutions. This strategic alliance aims to modernize Columbia’s technological infrastructure, enhancing operational efficiency and customer service to meet rapidly evolving market demands. Known for its tailored insurance solutions for small and medium businesses across various U.S. states, Columbia Insurance Group has built a reputation
The issue of workplace accommodations for pregnant employees took center stage in a recent federal court case where several state attorneys general attempted to block a key rule by the U.S. Equal Employment Opportunity Commission (EEOC). This rule, part of the Pregnant Workers Fairness Act (PWFA), included elective abortion among the medical conditions related to pregnancy that would necessitate workplace
In a significant corporate move, Wells Fargo recently terminated more than a dozen employees for engaging in what the company described as the “simulation of keyboard activity” to create a false impression of active work. This unethical behavior led to decisive action by the financial services firm, which revealed the matter in a May disclosure to the Financial Industry Regulatory
Sonnet Insurance Company, a noteworthy entity in the InsurTech sector, has announced its intention to exit the auto insurance market in Alberta, effective December 13, 2024. This strategic withdrawal is rooted in the challenging business conditions that have prevented the company from achieving sustainable profitability in the region. The decision sheds light on broader trends within the automotive insurance space
Amplify Life Insurance, established in 2019 and headquartered in San Francisco, has recently secured a significant Series B funding round totaling $20 million. This new investment, led by Crosslink Capital and Anthemis, along with contributions from other notable investors such as Munich Re Ventures, Moneta Ventures, Evolution Ventures, and Greycroft, marks a critical milestone in the company’s journey. As an
