Root

Our Trump/Biden note from yesterday discussed the rotation from growth stocks to value stocks playing out over 2022. Unfortunately, insurance technology stocks have had it the worst, with Lemonade stock down 49%, but still doing relatively better than Root (down 86%) and Hippo (down 80%).

The CEO added that Root was in a “very conservative stance” with its loss trend assumption, as the actual numbers seen right now were lower.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The company reported a 56.8% improvement YoY in its operating losses along with a 33% decline in auto policies in force.

As ITC Vegas begins, the Inside P&C Research team explores the discussions needed among InsurTechs to address questions around capital, partnerships, and profitability prospects.

Odyssey Group’s cyber chief Robert O’Connell is looking to raise up to $1bn of capital for a monoline cyber reinsurer.

The InsurTechs’ results show the path to profitability remains unclear, even as Lemonade said it expects to be self-funding from here.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The InsurTech will carry its current strategy to prioritize profitability over top line growth through the second half of the year, according to executives during the conference call.

The Insurtech narrowed its loss ratio despite multiple inflationary pressures in the personal auto sector.

The executive discussed InsurTech challenges, his priorities for Branch, fundraising, and his concerns about the capital markets.

Inside P&C’s morning summary of the key stories to get you up to speed fast.