SEC: Insurtech Unicorn Lemonade Files To Go Public, Here's What You Need To Know
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Lemonade filed its S-1 with the Securities and Exchange commission yesterday for an initial public offering.
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Fintech News Stories
Policybazaar plans 2021 IPO at $3.5B valuation
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Policybazaar, an Indian digital insurance marketplace backed by Softbank, Tencent and Tiger Global Management, announced that it will go public next year at a $3.5 billion valuation. The size of the IPO will be about $500 million.
Read MoreRoot Insurance to eliminate credit scores from consideration by 2025
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Root Insurance, a 5-year-old auto insurance startup that uses smartphone technology to understand its clientele’s driving habits, has pledged to eliminate credit scores as a factor in its car insurance pricing model by 2025.
Read MoreAmazon Pay, WhatsApp to enter Indian insurance market
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This week, Facebook-owned WhatsApp announced plans to pilot credit, micro-insurance and micro-pension products among lower-income populations in rural India.
Read MoreUK insurtech startup battleface tackles COVID-19 travel health expenses
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West Malling, U.K.-based startup battleface, an insurtech company backed by Fintech Ventures Fund, Greenlight Re and Tangiers Group, this month launched a COVID-19 travel insurance package, covering medical expenses resulting from the coronavirus for U.K. and EU citizens under 59 years of age.
Read MoreInsurtech Unicorn Lemonade Adds Dog and Cat Health Plans
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Lemonade is betting on the strong bonds forged between humans and pets during the pandemic. It’s launching dog and cat health plans that start at $12 per month, and to sweeten the offer, it will donate leftover premiums to animal-focused charities.
Read MoreLemonade reports strong customer growth despite Q2 loss
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In its first-ever earnings report, insurtech firm Lemonade reported a $21M net loss in the second quarter of 2020.
Read MoreRecord Insurtech Funding in Q4 2019
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Quarterly insurtech funding reached an all-time high of $1.99 billion during Q4 2019.
Read MoreInsurers Leave Coal-Based Investments Behind
/Global insurers exit $8.9 trillion coal-based investments
Coal exit policies were announced by 18 of the world’s biggest insurers controlling more than 46% of the reinsurance market and in excess of 9.5% of the primary insurance market.
Will 2020 Be the Year of Connected Cars?
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A non-profit is aiming to turn cars into rolling wallets that are able to autonomously make and receive payments in a virtual currency. Drivers would earn small sums for sharing data, and they’d be debited for infrastructure use and contribution to pollution.
Read MoreInsureTech Connect 2019 Reminded Us Why Insurtech is Hot These Days
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As many of our readers may be aware, The FR is a regular on the industry conference circuit. Last week we attended one of our favorite conferences, InsureTech Connect, in beautiful Las Vegas.
Read MoreInsurtech Provides Help for Hurricane Dorian
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Major weather events such as hurricanes are also major events for insurers and their customers. Technology can help out with that.
Read MoreInsurtech Firms to Keep an Eye On
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Insurance technology (or insurtech to those in the know) continues to be hot; more than $3 billion in funding was poured into the sector in 2018, and that figure in 2019 is expected to be even higher. In our travels to and fro in recent weeks, we have been fortunate enough to meet with and discover a number of interesting – and very diverse – firms in this space.
Read MoreTesla Looks to Conquer Insurtech
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Last week, we covered how Elon Musk has set his sights on dominating the rideshare industry with his army of robot-powered cars. Well, now his flagship company aims to disrupt the insurance industry as well. Musk said during a Tesla earnings call recently that the company plans to create its own insurance product and launch it within a month.
Read MoreHow Do You Insure an Autonomous Vehicle?
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Technology and data have allowed insurers to be much more predictive and accurate when it comes to calculating risk and measuring trends. Usually this has to do with analyzing the behavior of people, but in a world where automation continues to play a bigger role in everyday life, even more questions have to be answered.
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