Norwegian startup 7Analytics has made a splash in the InsurTech industry with its innovative approach to flood risk assessment. By securing a €4 million funding round from Scale Capital, this fledgling company is not just dipping its toes into the market—it’s diving in headfirst. With these fresh funds, 7Analytics aims to expand its geographical footprint and storm one of the
Founded by payment industry experts Phillip McGriskin and Paul Townsend in 2014, Vitesse has emerged as a significant player in the fintech sector with a laser focus on the insurance industry. Leveraging advanced technology, the company has developed a platform that revolutionizes claims management, from increasing efficiency to real-time data analysis. With 177 employees and a footprint across Europe, Vitesse’s
In a strategic move that broadens their footprint in the domain of climate resilience, Howden, a leading global insurance broker, has finalized the acquisition of MiCRO, a trailblazer in the burgeoning microinsurance market for natural disasters in Latin America. This deal marks a pivotal advancement in Howden’s mission to bolster insurance penetration in areas stricken by climate volatility. With MiCRO
Lassie, a pioneering Swedish pet-tech company, is surging towards the 100,000 customer milestone and is actively expanding its operations. Known for its preventive pet insurance ecosystem, Lassie focuses on delivering more than just traditional insurance coverage, encompassing proactive pet care coaching that aids in fostering better pet health and happiness. With the company’s eyes set on the French market, where
In an era where artificial intelligence (AI) is increasingly employed in hiring practices, the state of Colorado has taken decisive action to legislate against the potential biases such technology may propagate. Signed by Governor Jared Polis, Senate Bill 24-205 represents a landmark effort to preempt discrimination fostered by AI within the employment sector. Set to be effective from February 1,
In a startling revelation of corporate fraud, a former executive who held significant positions at Facebook and Nike has been sentenced to a prison term. Barbara Furlow-Smiles, once a champion of diversity, equity, and inclusion initiatives at two of the world’s foremost companies, orchestrated a scheme defrauding her employers of more than $5 million combined beneath that veneer. This high-profile
The insurance industry is experiencing a seismic shift as artificial intelligence (AI) paves the way for unprecedented efficiency and speed in its operations. A pivotal player in this transformation is Expert.ai, whose innovative AI solutions have recently earned it a Silver Stevie® Award at the American Business Awards® in the Insurance Solution Category. This recognition illuminates the significant advances Expert.ai’s
Wefox, once hailed as a revolutionary force in the insurance industry, surged to a $4.5 billion valuation on the back of innovative tech-driven solutions and a promise to modernize a traditionally staid sector. The company’s accelerated expansion and a customer base rapidly approaching 3 million seemed to presage a bright future. However, beneath the veneer of success lay brewing challenges,
In a groundbreaking move that signals the banking sector’s accelerating embrace of fintech capabilities, Erste Bank Hungary has unveiled its latest customer experience enhancement—a novel, automated Flight Delay Insurance service. Partnering with Companjon, the service is integrated into Erste’s George app, challenging the dynamics of traditional banking by introducing a digitized, customer-centric insurance product. As the digital sphere continues to
Mason Owen Financial Services has taken a groundbreaking step by introducing Instant Title Solutions (ITS), the UK’s first legal indemnity insurance platform that harnesses the power of artificial intelligence. This innovation targets the convoluted challenges of compliance and complex decision-making that traditionally mar the insurance procurement process in legal spaces. Changing The Game in Legal Insurance Procurement The Power of
The auto insurance industry, frequently characterized by increasing costs, is witnessing a strategic upheaval with the introduction of OpenRoad Insurance. This new Managing General Agency (MGA) leverages a specialized business model dedicated to servicing the niche of collector vehicles, a segment that boasts over 40 million cars in the United States alone. OpenRoad Insurance is set to carve out a
The property and casualty (P&C) insurance industry is on the brink of a substantial transformation thanks to the strategic partnership between Insurity and Certificate Hero. This collaboration is set to bring about a seismic shift in the way Certificates of Insurance are managed, potentially altering the operational landscape of the industry. Revolutionizing Certificate Management Addressing Industry Challenges The management of
