Fairmatic, the insurtech company powered by AI, has secured $46 million in funding for its fleet insurance products that incentivize safer driving. Leading the round was Battery Ventures, with the participation of current investors and Bridge Bank. This funding follows Fairmatic’s oversubscribed Series A six months ago and brings the company’s total financing to $88 million. The funding round was
The demand for personal insurance is steadily rising, as individuals aim to safeguard their homes, automobiles, and other valuable possessions by purchasing insurance policies. Consequently, businesses have responded by offering a plethora of personal insurance products. VIU by HUB, an embedded broker platform, is pioneering the personal insurance industry with its innovative omnichannel strategy. Recently, the company has partnered with
The insurance industry is undergoing a period of profound change, as companies strive to remain competitive and remain relevant in an ever-evolving market. To remain competitive, insurers must be able to adapt and alter their data models to accommodate the changing needs of customers and markets. Doing so can lead to a number of benefits including, access to more accurate
The fourth quarter of this year was a big success for Lemonade, with in-force premium rising to an incredible $625 million. This figure is a whopping 64% higher than the same period last year, indicating that the demand for Lemonade’s innovative insurance products is increasing significantly. In addition to this, net losses decreased from $91 million in the fourth quarter
