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The broker’s panel includes Chubb, Hiscox, Liberty, Markel, and Travelers.
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Texas-based InsurTech Overhaul has entered a strategic partnership with commercial P&C insurer CNA to mitigate cargo-theft risk within the trucking industry by way of Overhaul’s TruckShield technology.
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The InsurTech said it now expects to hit the 2021 target forecast of between $143mn to $176mn by the third quarter of 2022.
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Powell, also a former Swiss Re investment professional, will help Eos pursue investments aimed at closing the protection gap by making insurance more affordable and accessible.
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The fund will be managed by Energy Capital Ventures, a Chicago-based venture capital firm.
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The InsurTech tempers investors’ expectations about immediate profits and faces challenges in new markets.
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The move follows a $100mn capital raise in February from private equity house Centerbridge Partners that valued the InsurTech at $850mn.
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InsurTech stocks fall in Thursday trading following Lemonade Q2 results.
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The InsurTech’s CEO said on an earnings call the business is focusing on the lifetime value of customers in a hyper growth period.
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Lemonade grew gross written premiums substantially during the period to $90mn.
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The recent raise valued the business at $1.35bn, and took its total capital raised to $272mn.
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Qomplx delays its SPAC vote until August 17, as investors revolt against the Hippo and Doma transactions.