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Massachusetts-based Surround will provide a variety of coverages in one combined policy with a flat price.
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The reciprocal exchange is reinsured by the French carrier Scor and follows a $24mn capital raise.
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American Family Insurance’s VC arm says partners with more than $100bn of assets have lined up behind the new vehicle.
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Backing is now easier to come by and firms that already have a start are in greater demand. -
Lemonade’s growth model in focus following first conference call with new investors.
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Other InsurTechs are likely mulling IPO options and are garnering more investor interest, according to a report.
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The gross loss ratio improved from 82% to 67% YoY.
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The plans could involve an organic build-out into the line of business, a sales partnership with another carrier, or the acquisition of a car insurer, sources noted.
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HazardHub, Predata, Thimble and Hailios are among the accelerator’s latest cohort.
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In June the 180-year-old insurance services business picked former Axa Corporate Solutions CEO Rob Brown as CEO.
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MarblePay, as the startup is known, is being run by Stuart Winchester, a former insurance lead for fintech lender Better Mortgage.
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Brokers at Marsh, Aon and Epic have all been using the platform, which has been deployed on around eight renewals so far in 2020.
