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The total funding more than doubled, with InsurTechs raking in $15.8bn across 563 deals compared with $7.1bn across 377 deals the year previous.
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The share price of the auto InsurTech plunged after the company said it was cutting its headcount by 330 staffers, or about 20% of its workforce.
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The InsurTech posted total managed premiums of $104.5mn, four times higher than the $25mn it posted at the end of 2020.
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Recently terminated Root employees took to social media platforms to announce their dismissals, after the company eliminated about 20% of its workforce.
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The company termed the massive headcount reduction as an “organizational realignment”.
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Lindsay Plotkin joins the construction start-up after more than two years at Allied World, where she served as general casualty and construction senior underwriter.
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Some of the products and services that Swiftly provides are policy administration, pricing and rating systems, among others.
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With the addition of EMC and AF, the platform expands its portfolio to 15 broking firms and wholesalers.
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The hire comes as At-Bay rapidly grows headcount and looks to expand its product suite beyond cyber.
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The San Francisco-based broking start-up is seeking to grow in the private equity transactional space, serving tier-one clients.
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Inside P&C’s news team runs you through the key developments from the last week.
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HCI’s suspension of TypTap's spin off amid a punishing market for InsurTechs pressured the company's stock.