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The start-up has appointed Kristi Matus, a former USAA CFO, as CFO and COO.
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The funding round is the latest move in an arms race to reinvent back office functions.
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The deal is Bold Penguin’s second this year following its acquisition of broking software provider Xagent.
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The Samir Shah-led firm is considering raising its own ILS fund to support future securitisations. -
The company previously offered workers' comp in Colorado, Florida, Georgia, Illinois, Nevada and Texas.
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Spruce partners with lenders and real estate companies to offer title insurance to homebuyers.
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The US tech giant has participated in three rounds at the Indian start-up, which is valued at around $500mn.
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Other investors involved in the fundraise include InsurTech specialist FinTLV and existing investor and (re)insurance capacity provider Munich Re.
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The carrier has reportedly hired Goldman Sachs to lead preparations for a listing as early as this year.
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(Re)insurance clients and NGOs plan to use their buying power to push for change in the industry.
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The New York-based InsurTech launched in Amsterdam earlier this year and made its European debut in Germany last year.
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The digital MGA uses machine learning to augment the underwriting of small business cover.
