In an industry where physical and mental strain is part and parcel of the job, tradespeople often find themselves in need of robust support systems. Recognizing this challenge, Blip, the innovative insurance provider for small businesses, has forged a partnership with Band of Builders (BoB), a charity committed to aiding tradespeople facing adversity due to health issues or injury. Through
Insurwave, a leading InsurTech platform from London, has joined forces with Inigo Insurance, a prominent UK-based insurer, marking a notable stride toward transforming risk management. Amid a climate rife with geopolitical and market volatility, such synergies are crucial. The collaboration is designed to enhance risk management through features like real-time asset tracking and quick adaptation to emerging risks. Insurwave’s platform,
In the Nordic insurance sector, navigating complex global and regional forces is a significant task for providers. These geopolitical tensions have the potential to disrupt trade and affect underwriting and risk assessment strategies. As insurers adapt their policies to address the evolving landscape of threats, they must remain attuned to the indirect impacts—such as migration changes, commodity fluxes, and supply
The InsurTech landscape witnesses a compelling development as Bolttech, a leader in technology-driven insurance solutions, announces its strategic entry into the Middle Eastern market. This ambitious move is in partnership with stc Group, one of the region’s leading telecommunication giants. By joining forces, Bolttech is set to expand its innovative device protection services, complementing stc Group’s ‘DARE 2.0’ vision that
The InsurTech landscape is on the brink of a profound shift, powered by Artificial Intelligence (AI). As digital transformation accelerates, AI’s role is evolving from a novel idea into an essential element, poised to transform customer experiences, optimize operations, and enhance risk assessment. The forecasted market value increase of AI from $136.55 billion in 2022 to an impressive $1,811.8 billion
Vouch, an insurance provider for high-growth businesses, has secured a $25 million investment in a Series C-1 round led by Ribbit Capital, highlighting its robust growth and the trust investors have in its future. This achievement comes at a time when Vouch has seen a notable 66% rise in revenue and maintained commendable loss ratios despite a challenging market. The
In a substantial strategic move, Coalition, a leader in cyber insurance and security, has aligned with Aspen, the distinguished international insurer. This multi-year deal, starting April 1, 2024, sets Coalition on course to expand its market influence, particularly in the U.S. surplus lines cyber program, leveraging its momentum from triumphs in the U.K. and Canada. This collaboration exemplifies Coalition’s commitment
The Department of Labor’s (DOL) recent establishment of a “totality-of-the-circumstances” framework is a bold step toward clarifying what constitutes an independent contractor versus a full-time employee. This framework is constructed with the intention of safeguarding workers from the prevalent risk of misclassification, which often leads to a loss of crucial worker benefits and protections. The inclusion of factors such as
In the insurance sector, technology has served as a game-changer, especially for small and independent agencies competing against larger firms. These smaller agencies now have a fighting chance, thanks to advancements in insurtech. A prime example of this shift is the collaboration between HawkSoft and b atomic. HawkSoft, known for its client management software, combines forces with b atomic, which
In 2024, the insurance sector is experiencing substantial digital growth, spurred by the need to meet changing consumer needs and improve efficiency. Companies in this space are increasingly adopting cutting-edge technology to create data-driven products and offer more personalized services. This is indicative of a larger trend where insurers are placing greater emphasis on putting the customer at the heart
In a significant judicial decision by Judge J. Campbell Barker from Texas’ Eastern District Court, the recent National Labor Relations Board (NLRB) joint employer standard was deemed legally defective. Set to become effective that week, the rule would have broadened the criteria that define when two businesses are considered joint employers, potentially redefining the relationship between companies and their workers.
INSRD, the Berlin-based InsurTech startup, has recently reached a significant achievement by closing its pre-seed funding round, amassing a considerable €500,000 from a consortium of investors, including esteemed tech pioneers. This injection of funds is a defining moment for INSRD as it sets out to innovate the commercial insurance industry with bespoke insurance solutions crafted for modern and rapidly expanding
