insurtech News

Vista to Take Duck Creek Technologies Private in $2.6B Deal

Duck Creek Technologies, which serves some of the biggest clients in the property and casualty sector, will be taken private by Vista Equity Partners in an all-cash deal valued at about $2.6 billion, the insurance tech firm said on Monday. …

Claims People: R&Q, Renfroe, Arturo

R&Q Appoints Claims Chief R&Q Insurance Holdings Ltd., a specialty insurer headquartered in Bermuda, appointed Hillary Jarvis as chief claims officer for North America. Jarvis was most recently managing director, claims—compliance and strategy at Markel, where she led a team …

No Arbitration in CCC’s Trade Secrets Lawsuit Against Competitor

Tractable admits it used fake names to obtain a license to use CCC Intelligent Solution’s auto damage appraisal technology. Whether the London-based insurtech also defrauded CCC and stole trade secrets hasn’t been proven, but a federal appellate panel ruled that …

Twins Who Built $1.3 Billion Marshmallow App Take on Insurers

For three centuries, a handful of insurers have dominated the market from the City of London. The upstart intent on challenging them rents two floors just outside the district in an area known as Silicon Roundabout, where its employees work …

Hippo to Go Public in $5B Merger With Mark Pincus, Reid Hoffman-Backed SPAC

Hippo Enterprises will go public through a $5 billion merger with a blank-check firm backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a sign of rising interest in the fast-growing “insurtech” sector. The deal, announced on Thursday, …

Viewpoint: Solving Commercial Loss Run Pain Points With Cognitive AI

Loss runs are insurance carrier reports that show how many claims have been filed under business insurance policies. Insurance carrier underwriters and brokers require loss runs for every business they insure, and use the prior claims history to help price …

Claims Startup Betterview Attracts $7.5M in Financing Round From Guidewire, Others

Startup Betterview raised $7.5 million in new funding to fuel expansion of its artificial intelligence technology that helps property/casualty insurance carriers spot and manage property risk. ManchesterStory led the round, which brings the insurtech’s total venture capital tally to $17 …

Zesty.ai Refines Fire Risk Model by Adding IBHS Data on Building Materials

Zesty.ai, a California insurtech start-up, is hoping to fine-tune fire-risk scores that sometimes can make it challenging for homeowners to find coverage. Marketing Director Nick Allain said the company wants to help insurers who might otherwise overlook fire-resistant structures that …

Business News: Nationwide and Notion, FileTrac and Hover, Octo and ICBC

Nationwide Teams With Notion for Smart Home Monitoring Nationwide has teamed up with Notion to offer smart home monitoring products to policyholders to guard against theft, fire and water damage. The Notion smart home monitoring system uses sensors with multiple …

Insurers, Tech Firms Struggle to Keep Pace with Cyber Risks

Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back, according to experts …