In a strategic move set to significantly enhance its embedded insurance services, HUB International recently announced that it would acquire Insuritas, an embedded insurance platform that primarily targets banks and credit unions. The acquisition will bolster HUB’s existing digital platform, VIU by HUB, which was launched in June 2022. Initially focused on personal insurance, VIU has since expanded its offerings
The insurtech company Jove has recently made headlines by securing £3.6 million in a seed funding round, aiming to revolutionize contractor insurance with advanced solutions tailored for contractors and small businesses. The seed round was spearheaded by Explorer Investments and included support from various prominent venture capital firms like Seed X, Love Ventures, Portfolio Ventures, New Alpha Asset Management, Exceptional
In Australia, a significant issue is coming to the forefront regarding financial security and the accessibility of financial advice. Recent research paints a troubling picture of the disparity between the insurance coverage of material possessions, such as cars and homes, compared to personal protection through life insurance. Insights from the Council of Australian Life Insurers (CALI) indicate that while almost
In an effort to combat the exploitation of migrant workers, the UK government is holding employers accountable for violations that harm immigrant employees by enforcing new measures. This initiative specifically targets employers who repeatedly ignore visa regulations or fail to uphold essential employment standards. Introduction of Stricter Penalties Central to these measures is the introduction of a rule that will
In a move that underscores ongoing debates about worker compensation, the U.S. Department of Labor (DOL) has recently appealed a pivotal decision by Judge Sean Jordan of the U.S. District Court for the Eastern District of Texas. The judge had ruled against the DOL’s latest final rule aimed at expanding overtime pay eligibility under the Fair Labor Standards Act (FLSA).
The National Labor Relations Board (NLRB) has made a groundbreaking decision to prohibit employers from holding mandatory meetings, known as captive-audience meetings, to express anti-union views during an organizing campaign. This decision overturns a 76-year-old precedent, Babcock & Wilcox, which had previously allowed such meetings. The NLRB argues that these meetings violate Section 8(a)(1) of the National Labor Relations Act
Arthur J. Gallagher & Co.’s recent acquisition of Shepard Insurance Group marks a significant expansion in the high-net-worth insurance market. This strategic move not only broadens Gallagher’s geographic presence but also enhances its ability to deliver personalized, high-quality solutions to affluent clients. Shepard Insurance, known for its tailored services in the Northeastern United States and Florida, will now integrate its
Akur8, a leading provider of AI-powered pricing and reserving software, has recently announced a strategic move set to strengthen its presence in the German insurance market. Michael Kraus has joined the company as a strategic advisor, a decision aligning with Akur8’s continuous efforts to optimize pricing strategies through advanced machine learning technologies. For a company that caters to over 250
In a strategic move to enhance its technological capabilities, CoverGo, an InsurTech company known for providing comprehensive digital solutions to the insurance industry, has appointed Louis Lee as the managing director for the Asia-Pacific (APAC) region. With over 20 years of experience in various aspects of life, health, and general insurance and reinsurance, Lee is expected to lead initiatives that
Imagine booking an outdoor event or excursion, only for it to be dampened or canceled by unforeseen weather conditions. Poncho, a Swiss InsurTech startup founded in 2023, aims to transform this often frustrating scenario with its innovative approach to weather-based refunds. Recently, Poncho raised $617,000 in seed funding led by WeBuild Ventures, a pivotal moment that positions the company ideally
The rapidly evolving landscape of financial technology has prompted companies to seek innovative solutions to enhance efficiency and customer satisfaction. In an industry as intricate as insurance, optimizing payment processes can be particularly challenging. Recently, One Inc, a leading payments network for the insurance industry, and U.S. Bank, a major financial institution, announced a partnership aimed at revolutionizing insurance payments.
In an era where artificial intelligence and cloud technology are reshaping industries, Five Sigma is making significant strides in transforming the insurance claims management landscape. Founded in 2017 by Oded Barak and his partners, Five Sigma has combined its in-depth knowledge of the insurance sector with state-of-the-art technological advancements to create groundbreaking solutions. The company’s primary innovation, Clive, is the
