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Progressive’s superior digital distribution and widening auto margins put it far ahead of the competition.
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Cover Genius has grown GWP to nearly $1.1mn a day since its last funding round in September 2021.
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The latest Gallagher Re InsurTech study shows that, beyond the biggest funding rounds in Q3, investment fell to its lowest level since early 2020.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Around $100mn of the facility was funded at close, with the remaining funds available in two tranches as the company reaches certain agreed-upon milestones.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The homeowners’ InsurTech reported that it has received approximately 6,800 claims associated with Hurricane Ian to date.
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Former Embroker COO Julie Zimmer has joined the leadership team as CEO as part of the fundraise.
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The executive joins the San Francisco-based brokerage after stints at Aon, Lockton and Chubb.
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SF: In his new role, the executive will lead the development of the commercial InsurTech’s insurance vertical products – particularly its cybersecurity, technology and privacy offerings.
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The five new states come in addition to Georgia and Illinois, where the InsurTech started operating earlier this year.
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The fundraise comes after the company raised $180mn of Series A funding last year.