The American Association of Insurance Services (AAIS) and reThought Flood have embarked on a critical mission—to close the pervasive coverage gap in the US flood insurance market. This partnership comes against the startling backdrop of widespread flood risk in the United States, where nearly every county has experienced flooding since 1996, yet the vast majority of Americans remain uninsured against
Eleos, an innovative London-based InsurTech company, is celebrating a significant financial milestone with the closure of a successful $4 million seed funding round. This recent capital infusion is earmarked for the company’s expansion into the vast and lucrative U.S. market. Following hot on the heels of an equally thriving round just six months prior, Eleos has garnered notable support from
Unum Group, a prominent financial protection benefits provider, has recently expanded its product horizon by foraying into the pet insurance domain. This move by Unum comes as a strategic response to the burgeoning costs associated with pet ownership and healthcare. They have clinched a partnership with Nationwide, one of the largest insurance and financial services companies globally, to bring forth
In a notable legal skirmish, the U.S. Chamber of Commerce’s resistance to the Federal Trade Commission’s outright ban on noncompete clauses has hit a procedural snag due to a judicial stay. This stay by Judge J. Campbell Barker, rooted in the precedence of a similar case, underscores a pivotal controversy over the limits of regulatory authority and the battleground between
Embedded insurance is a groundbreaking shift in the insurance industry, seamlessly integrating insurance coverage into products or services at the point of sale. This innovative approach to insurance has come to the forefront as a significant game-changer in the InsurTech sector. By merging insurance with everyday purchasing processes, companies make the acquisition of insurance more streamlined and contextually relevant, thus
In a significant development within the insurance sector, London Underwriters and Foxquilt Insurance have joined forces to create an innovative platform that stands to revolutionize the way small businesses and individuals manage their insurance needs. This strategic partnership represents a remarkable fusion of traditional expertise and modern technology, aiming to simplify and personalize the experience of obtaining and handling insurance
In a move that underscores their dedication to enhancing the customer experience, Nottingham Building Society has teamed up with the insurance technology firm Uinsure to orchestrate a service designed to simplify the process of obtaining home insurance quotes. This collaboration is a strategic step by Nottingham to integrate cutting-edge technology that allows for rapid delivery of competitive insurance quotes to
The insurance industry is witnessing a significant transformation, spurred by technology-driven startups like Honeycomb. Recent news of Honeycomb’s successful $36 million Series B funding round has reverberated throughout the Insurtech sector, indicating heightened investor interest in firms that combine state-of-the-art technology with traditional insurance practices. Securing Vital Capital Boosting User Experience and Profitability The influx of funds from Honeycomb’s Series
Every business that relies on tools and equipment knows the importance of insurance to safeguard those investments. However, the cost of insurance can take a significant bite out of your budget. Fortunately, there are several smart tactics that can help business owners save on tool and equipment insurance without sacrificing the quality of their coverage. In this article, we’ll walk
The Federation of Americans for Consumer Choice (FACC) alongside several insurers has taken legal action against the Department of Labor’s (DOL) newly implemented fiduciary rule. This rule, scheduled to commence on April 12, 2021, has been the subject of scrutiny and controversy, with the plaintiffs contesting its legality under the Employee Retirement Income Security Act (ERISA). The lawsuit claims that
The National Labor Relations Board (NLRB) has taken a firm step in contesting a decision that nullified its latest joint employer rule, reflecting its commitment to redefine the qualifications for joint employment. This appeal, directed to the 5th U.S. Circuit Court of Appeals, follows U.S. District Judge Gregg J. Costa’s ruling which invalidated the rule for being “contrary to law”
As Akur8 secures its Silver Sponsorship for the 2024 Insurtech Insights USA conference, the company reinforces its commitment to innovating insurance pricing with its state-of-the-art transparent machine learning solution. Akur8’s proprietary technology stands to revolutionize the way Property & Casualty insurers approach pricing models. The use of machine learning enables these insurers to rapidly build models that are both accurate
