Boost Insurance, a leading digital insurtech provider, has unveiled its latest product, Boost Re, adding an innovative dimension to its insurance-as-a-service stack. This revolutionary offering, described as a turnkey captive-as-a-service solution, is specifically designed for managing general agents (MGAs), InsurTech firms, and providers of embedded insurance. With Boost Re, partners can streamline and enhance their insurance operations, all while reducing
Mia-Platform, a leading end-to-end platform builder and insurtech specialist based in London, has announced the launch of their highly anticipated Open Insurance Hub. This innovative platform aims to facilitate the seamless integration of digital services into the insurance ecosystem, paving the way for insurers and financial institutions to expand their product offerings, enhance customer experience, foster new partnerships, and embrace
The international insurtech company, bolttech, has recently announced a strategic partnership with Three Sweden, further strengthening its collaboration with CK Hutchison Holdings. This collaboration aims to provide Three Sweden customers with non-binding device protection insurance and services to ensure that their valuable devices are covered, even while they are traveling. Partnership Details Under this new partnership, Three Sweden customers will
QBE Canada, a prominent player in the global insurance market, has announced a strategic partnership with Novidea, a renowned provider of cloud-based insurance management platforms. This collaboration aims to enable QBE to significantly expand within Canada by leveraging Novidea’s state-of-the-art platform. With a focus on streamlining business operations and introducing seamless automated workflows, this partnership promises to transform QBE’s service
Laka, an innovative insurtech company focused on bicycle insurance, has recently announced a successful funding round, raising an impressive $8 million. This significant investment reflects the growing recognition of Laka’s unique “collective-driven insurance model” and its potential to disrupt the traditional insurance industry. Unique Insurance Model Laka sets itself apart with its pioneering approach to insurance. Unlike traditional insurance models
In a move that is set to revolutionize the insurance industry, HoneyQuote, a leading digital insurance marketplace, has formed a strategic partnership with First Connect Insurance Services. This collaboration aims to offer thousands of independent agents across the United States the ability to seamlessly write policies in the notoriously challenging Florida insurance market. Through HoneyQuote for Agents, a groundbreaking solution,
Online retailers and e-commerce businesses often encounter the challenge of lost, stolen, or damaged items during the delivery process. Addressing this problem, nShift Insurance, in collaboration with Cover Genius, has launched a groundbreaking solution called nShift Transsmart. With the aim of enhancing customer experience and loyalty, nShift Transsmart offers embedded protection to replace items that may be lost, stolen, or
Markel Group Inc. (NYSE: MKL), the insurance operation within Markel, has announced a significant strategic investment of 49% in Certa, the leading tax managing general agent (MGA) in the market. This move aims to accelerate Certa’s product development and geographical expansion plans while providing Markel with increased access to the long-term growth potential in the maturing niche sector. The partnership
Singapore-based insurance technology company, Bolttech, has recently formed a strategic partnership with Three Sweden, a renowned telecommunications service provider. The collaboration has been established with the aim of offering non-binding device protection insurance and a range of related services to Three Sweden customers. This partnership brings together two industry leaders committed to safeguarding customers’ devices and enhancing their digital lives.
The insurance industry is undergoing a transformative shift as tech-driven firms leverage digital platforms and mobile-first strategies to offer direct-to-consumer (DTC) insurance options. These insurtechs are challenging traditional models by embracing DTC, aiming to provide a more personalized, efficient, and digitally-driven insurance experience for customers. In this article, we will explore the advantages and challenges of DTC insurance models, the
White Mountains Insurance Group, a Bermuda-based financial services holding company, has made a strategic move to acquire a majority stake in Bamboo Ide8 Insurance Services. With an investment of approximately $285 million, White Mountains aims to support Bamboo’s rapid growth in the competitive California insurance market and expand its operations beyond the state’s borders. This article delves into the details
The Capgemini Research Institute’s World Life Insurance Report 2023 sheds light on the challenges faced by life insurers as they contend with a significant outflow of assets under management (AUM) during the largest inter-generational wealth transfer in history. This transition heralds an unprecedented shift that necessitates innovative strategies to meet the evolving needs of policyholders. Current ownership of assets under
