Lemonade has expanded its pet insurance offering to customers in Massachusetts, marking the 37th state where the InsurTech covers dogs and cats. The company announced the update to its coverage — available exclusively for cats and dogs — letting pet parents pay for diagnostic, procedural...
As they seek to gain a competitive advantage over other players in the field, digital banks are expanding their product offerings with insurance and boosting revenues with payment protection in areas such as phones and travel. After rival neobanks Monzo and Monese launched insurance products,...
Tesla auto insurance is now available in five states, and the company plans to continue its rollout nationwide, company executives said Thursday (Jan. 27). “Our internal goal here, by the end of the year, is to be in enough locations that 80% of our customers...
When the pandemic hit and consumers suddenly found that their cars were sitting in their driveways, many wondered why they were still paying for auto insurance based on the number of miles they had expected to drive. That’s one of the trends that is driving...
Auto insurers’ process of inspecting cars and assessing the damage has evolved from having a person drive out to physically inspect the car, to having a person look at photos of the car to having an artificial intelligence (AI) solution evaluate the photos. “Now, using...
In the past two years, the pandemic-induced digital shift has forced payment providers and other organizations to improve their payout processes, especially as consumers seek increasingly faster payouts and streamlined digital experiences. One sector working quickly to modernize operations is the insurance sector, as firms...
Seven out of 10 pet parents think of their pets as family members, although almost half have underestimated the lifetime cost of care, according to a Synchrony report released Tuesday (Jan. 11). The report, called “Lifetime of Care,” found that care costs can range from...
Insurity, a cloud-based software provider for insurance carriers, brokers and managing general agents (MGAs), will provide free digital payments for property and casualty insurance (P&C) carriers through Dec. 31, according to a Thursday (Jan. 6) press release. When using Insurity’s Sure Claims Payments software, P&C...
Spanish insurance firm Mapfre has sold Bankia’s insurance platform to CaixaBank for 571 million euros ($645 million), although the sides noted that an ongoing arbitration process could increase the price, according to a Reuters report Wednesday (Dec. 29). CaixaBank, which took over Bankia in March,...