HDI joins Layr and more news from Insurtech

Startups that focus on the insurance sector are no less busy than fintechs and rarely receive public attention. Here is a brief summary of what has happened in the Insurtech world during the last two weeks. The most important financings, cooperations, personal data and technical developments in a compact format.

HDI invests in Layr

Hannover Digital Investments, the venture capital arm of the HDI Group, participates in the Series A financing of the American insurtech Layr. HSCM Ventures is the lead investor in the $10 million round. Maschmeyer Group Ventures also participated. Layr is working on an AI-powered cloud platform for automated insurance quoting and underwriting. Keep reading…

The Bavarian collaborates with Neodigital

The insurance group die Bayerische offers a white-label solution from FinTech Neodigital. The insurer’s clients can now fully insure their smartphone digitally. Behind this is the Neodigital solution. The three tariff lines of the new product were developed in four weeks. Keep reading …

Ottonova with a new billing solution for private policyholders

Customers can now transfer payment information for doctor and pharmacy bills to their banking app directly from neoinsurer Ottonova’s app. Behind it is the fintech Gini, which uses its “Gini Pay Connect” transfer function. Until now, this has only worked with Consorsbank, which is the third cooperation partner. Those involved also want this to be understood as a model for cooperation with other banks. Keep reading …

Alleghany turns to Warren Buffett

Warren Buffett’s investment company is buying the Alleghany Insurance Company for $11.6 billion. The acquisition is expected to be completed in the fourth quarter. The insurer operates in the primary insurance and reinsurance business. Keep reading …

Lemonade Announces Parametric Weather Insurance

“Crypto Climate Coalition” is the name of the insurance solution announced by Lemonade, which will focus on Africa. The weather insurance will be based on the Avalanche blockchain and will use stablecoins. The path was chosen to allow policyholders to make payments and receive funds in local currencies as easily as possible using their smartphones. The service, which aims to offer parametric insurance for farmers in emerging markets, is being implemented by the non-profit foundation Lemonades. Hannover Re is also involved in the project. Read more (English)…

WeFox continues to focus on football

The neoinsurer WeFox continues to seek coverage with the sport. As reported at this point, there is a partnership with the Italian soccer club AC Milan. In addition, the cooperation with 1. FC Union Berlin will be intensified. Until now, WeFox has been the main sponsor there. A three-year contract has now been signed, which also includes advertising space and a hospitality package. Keep reading …

2.2 million euros for Iago

Until now, Insurtech Yago operated under the name of Seraphin. But in the course of a new financing of 2.2 million euros, the Belgian company changed its name to Yago. The name change is related to the ambition to establish a stronger presence in Flanders. Belgium is considered an insurance market that offers great potential for digitization. Only 10 percent of consumers purchase insurance online. Yago simplifies contracting insurance, as it suggests the best rates on its portal in a matter of minutes. Within two hours at the latest, a specialized advisor will call you, who will then deal with the actual application and policy issue. Read more (English)…

$125 million capital injection for Policygenius

US insurtech Policygenius has raised $125 million in growth capital to expand its core life, disability, home and auto insurance businesses. All existing investors, who have so far invested $250 million in the company founded in 2014, re-engaged. Insurtech offers clients on its platform the comparison between different insurances and the direct conclusion. For this, Policygenius has developed its own software for the preparation of offers and subscription. Read more (English)…

Author

Stephan has been online since the early 1990’s and has a strong background in fintech (Star Finanz, Hypoport). At the Hypoport Dr. subsidiary, as a junior, he was responsible for product management and business development, among other things. He has been writing about…more for over 10 years.

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