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In Good Time partnered with Corebridge Financial In Good Time partnered with American-Amicable In Good Time partnered with Occidental Life Insurance Orchard Insurance partnered with Credible Insurance Mitsui Sumitomo Insurance partnered with Coalition Poncho raised $617.43K Canara HSBC Life Insurance picks Amazon Web Services in Underwriting Hanwha Life uses Digital Technology in Customer Service Virtus picks Indio Technologies in Sales Fairfax Financial Holdings raised $501.09M CBIZ picks Ennabl in Admin Zopper raised $25M Abacus Life raised $100M bolttech raised $50M QBE North America picks Federato in Underwriting

Branch Insurance Exchange reports Q3 2024 results

By Avi Ben-Hutta

The reciprocal reported a net underwriting loss of $50.7 million for the nine months of the year.

Financials

Clearcover ends 2022 with 114.5% loss ratio

By Avi Ben-Hutta ·

The startup ended the year with $140.7 million in direct premiums written, a 79% increase compared to 2021.

The Hartford names Shekar Pannala chief information officer

By Coverager ·

In this newly created role, Pannala will lead technology across the company’s Personal Lines, Small Commercial and Middle & Large Commercial businesses.

Business

VIU by HUB partners with Fetch Pet Insurance

By Avi Ben-Hutta ·

The move expands the personal insurance coverage offered by VIU.

Financials

Hippo announces $50 million stock repurchase program

By Coverager ·

The company went public on March 4, 2021, raising $230 million, and today has a market cap of $331 million.

Product

Main Street America launches additional protection for chiropractors

By Coverager ·

The product is underwritten by Midvale Indemnity Company, an affiliated writing company.

Financials

Root, Lemonade not materially impacted by Silicon Valley Bank closure

By Shefi Ben-Hutta ·

Lemonade and Root both have $7k and $1.3M in SVB exposure.

Strategy

Mercury Insurance creates chief technology officer position

By Coverager ·

The CTO position represents Mercury's emphasis on the importance of technological innovation by building high-quality software and systems using modern development methodologies.

Investments

Lineslip Solutions raises $5.6 million

By Coverager ·

Lineslip offers a Commercial Insurance Risk Intelligence platform.

Financials

HSBC acquires Silicon Valley Bank UK Limited

By Coverager ·

Strategic acquisition to strengthen HSBC’s banking franchise in UK.

Financials

Life360’s SVB exposure expected to be up to $5.6 million

By Coverager ·

Life360 further shared that as of March 10, 2023, it had cash and cash equivalents of approximately $95.1 million.

Opinion

The Resistance

By Avi Ben-Hutta ·

Insurify, which is not profitable, is about to absorb another non-profit company. That is not a good mix, according to common sense.

Product

Apollo launches new drone insurance facility

By Coverager ·

Apollo will be providing capacity to Moonrock Drone Insurance.

Product

Aurenity announces launch of new GL program with A rated capacity

By Coverager ·

Aurenity has begun accepting GL submissions with February 15 effective date.

Product

AmTrust expands international warranty business

By Coverager ·

AmTrust has provided reinsurance capacity for major mobile phone insurance programs of South Korean telecom companies since 2016.

Innovation

AAA Northern California discontinues House Manager

By Shefi Ben-Hutta ·

AAA House Manager was a membership-based home maintenance service.

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Member News

Bindable partners with Recoop Disaster Insurance

By Mary Clare Riordan, Bindable ·

Leveraging Data Analytics for Risk Management in Insurance with Alexandra Littlejohn

By John Fohr, TrustLayer ·

Cybersecurity in Insurance: Why Your Data and Compliance Can’t Afford to Slip

By AgentSync, AgentSync ·

Ensuring Quality and Compliance with AI in Claims Processing

By Robin Roberson, Agentech ·

Integrating insurance licensing & commissions

By Vertafore ·

Obie Unveils Tenant Legal Liability Policy to Empower Real Estate Investors with Streamlined Tenant Risk Coverage

By Aaron Letzeiser, Obie ·

Onda Selects Five Sigma to Elevate Cyber Claims Handling

By Oded Barak, Five Sigma ·

HAI Group Goes Live on OneShield Enterprise Platform 7, Launching General Liability and Excess Products

By Janice Merkley, OneShield ·

The Evolving Landscape of Construction Risk Management with Rob McDonough of Marsh

By John Fohr, TrustLayer ·

Is Your Distribution Network Built to Scale?

By AgentSync, AgentSync ·

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