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Other members of the research cluster include Google and AI firm Affectiva.
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The German carrier will maintain an investment relationship with the InsurTech. -
The Lloyd’s chairman suggests the post will enhance, rather than detract from, his work at the Corporation.
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The fronting carrier became a paper provider to four InsurTech and excess and surplus (E&S) MGAs in the past month.
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The Series C round implies a “unicorn” valuation for the InsurTech of over $1bn.
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The company set up its innovation lab last year in a bid to bring new technology to the broking landscape.
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The French reinsurer is providing paper to support bundled homeowners and auto policies underwritten by the InsurTech.
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John Cashin said the legacy space is too complex to be easily tackled with technology solutions.
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"We’ve got skills, capital, distribution and knowledge” to maintain dominance, the executive said.
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Listing plans are “definitely in our future”, CEO Dan Preston said.
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Risk Exchange is one of several new industry initiatives launched in a bid to speed up placements and cut expenses.
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The president of Allstate personal lines opened the InsurTech Connect conference in Las Vegas on Tuesday.
