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The company has raised $70mn since it was founded less than a year ago.
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The purchase reflects the broker’s stated acquisition strategy of buying complementary businesses and services and of expanding digitally. -
Surround executive Kate Terry blamed the capacity drought on an earlier generation of start-ups during an event in New York.
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The ILS firm led the fundraising round at the data and analytics business.
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The startup is a digital MGA that helps businesses sell insurance on through their own websites.
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The InsurTech’s co-founder Shai Wininger says the telecom’s actions evoke a ‘Disney villain’.
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Travelers will use AI to extract risk information from documents submitted by brokers
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Overall InsurTech funding for the first nine months outstrips the 2018 total, the broker says.
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His comments came shortly before Munich Re raised the curtain on its latest $250mn investment, Next Insurance.
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The machine learning company counts Chubb and RenaissanceRe among its customers.
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Most InsurTech startups will probably fail, the Starr chairman and CEO predicted.
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Both venture capital and reinsurers showing signs of some pullback from unmitigated support for insurtechs.
