Welcome to The Digital Insurer Newswire, a daily updated selection of curated InsurTech and digital insurance news from around the web. |
Today’s top selected digital insurance content
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Ping An-backed Lufax has raised $1.33 billion in its latest funding round from a dozen investors, at a valuation below expectations of the financial technology company, people with direct knowledge of the matter told Reuters.
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| Germany-based insurtech Element has raised €23m ($26m) in a Series A financing round as it looks to expand operations overseas. Besides existing shareholders finleap and Signal Iduna, the funding round was joined by SBI Investment, SBI Insurance
Group, Engel & Völkers Capital, and Alma Mundi Ventures.
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Sign up for the KPMG sponsored webinar on 'Cybersecurity – Implications for the insurance industry' on 05th December. Register for free
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| The Hartford has bought Y-Risk, an MGA specializing in the sharing and on-demand economy. After the purchase from former owner Allstar Financial Group, The Hartford’s goal is to become the leading position insurer to this customer segment of the ‘new
economy’.
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| NYC-based provider of disability insurance for freelancers, Trupo , is live in Georgia. Coverage is underwritten by RGA’s newest venture Greenhouse Insurance.
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Data analytics provider Verisk has signed a definitive agreement to acquire Rulebook, a provider of business intelligence and software solutions for the London Insurance Market. The reported purchase price is $87 million in cash, funded through cash on hand and existing bank facilities, with the deal expected to close in the fourth quarter 2018.
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This month we are featuring the ‘Connected Enterprise’, a topic that’s really all about customer focus in the extreme. In Tom Robert’s KPMG article, he outlines the steps insurers can take to become Connected Enterprises, while Rick homes in on Trov, Lemonade, and ZhongAn, as
tangible examples of Connected Insurance Enterprises.There are examples of insurers that have already become Connected Enterprises.
| | This month we consider the digital insurance activites currenlty underway at Baidu. As China’s biggest search engine, Baidu has amassed more than 500 million active users across search, maps, O2O services, and autonomous driving.Although Baidu’s involvement in digital insurance has been more selective than
Alibaba or Tencent, its focus on Autonomous Driving could see it disrupt a market that represents 70% of non-life premium.
| | This is the second of two insurance focused papers concentrates on the innovation that is already taking place in India.It acknowledges the growing population increases – 1.35 billion by 2020 –the opportunity, but insurance penetration is still only around 4%, though expected to grow to US$280 billion by the end of 2020...
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This month’s InsurTech Insights looks at cyber security and its implications for the insurance industry. With the pace of change in our world, individuals and companies are increasingly demanding to be more connected, is the insurance industry able and prepared to meet the future demand?
| | This month we have the first in our three-part series on China’s BAT – the tech giants Baidu, Alibaba, Tencent, and consider the digital insurance activities currently underway at Alibaba. As China’s biggest eCommerce destination, Alibaba has amassed more than 500 million active users across ecommerce,
mobile payments and O2O services.
| | This is the first of two pieces of research we’re featuring this month on the state of the insurance industry in India.They each might be described as examples of glass half full/empty and this one for the Pahle India Foundation focuses on the latter.
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