InsurTech firm Cover Genius has formed a new partnership with Adyen, tapping the FinTech as its latest payment processing partner. Through the collaboration, Adyen aims to increase the Cover Genius’s authorization rates of online payments by offering local payment methods in the Americas, Europe and...
Digital insurance platform Lemonade said its AI investments continue to bear fruit. The company’s latest shareholder letter — while reporting a 25% increase in total revenues and a $47 million net loss, an improvement of 28% — also examines the way artificial intelligence (AI) and automation technology has...
In the age of smartphones and instant access to information, it’s no surprise that even the most traditional industries are undergoing a digital makeover. The insurance sector, once synonymous with stacks of paperwork and lengthy meetings with agents to get quotes, is no different. Today,...
InsurTech Qoala has raised $47 million in a funding round led by PayPal Ventures and MassMutual Ventures. The Series C round, announced Wednesday (March 27), will let the Malaysia-based Qoala expand its embedded insurance business across Southeast Asia. “The investment will also empower Qoala to intensify its tech-driven initiatives, seamlessly integrate artificial...
February 29, 2024
In many ways, the insurance industry helped hone the algorithms behind artificial intelligence technology. From actuarial science, Bayesian statistics and generalized linear models, to cloud computing, telematics and advanced machine learning models, risk management models have always been designed to push the possibilities of prediction. “AI is the decision support for that adjuster that is […]
May 25, 2023
The last of the earnings reports are trickling in across the FinTech IPO Index, with more decliners than gainers, which in turn helped send the index down 2.4% for the...
December 06, 2022
Insurers are increasingly turning to open banking to personalize coverage, increase access and streamline applications. In the latest example of the trend, U.K. open banking provider Yapily recently announced that...
November 28, 2022
The insurance industry is one of the most mature and competitive markets globally, but it’s one often associated with legacy infrastructure, time-consuming paperwork and complex jargon that can easily deter...
May 15, 2024
InsurTech Cover Genius has raised $80 million in Series E funding to grow its embedded protection offering. The company will use the fresh capital to expedite its growth plans and to invest in new technology like improved digital insurance distribution solutions, artificial intelligence (AI)-powered claims handling and additional protection solutions to be made available on […]
May 09, 2024
InsurTech firm Cover Genius has formed a new partnership with Adyen, tapping the FinTech as its latest payment processing partner. Through the collaboration, Adyen aims to increase the Cover Genius’s...
May 01, 2024
Digital insurance platform Lemonade said its AI investments continue to bear fruit. The company’s latest shareholder letter — while reporting a 25% increase in total revenues and a $47 million net loss, an...
March 27, 2024
InsurTech Qoala has raised $47 million in a funding round led by PayPal Ventures and MassMutual Ventures. The Series C round, announced Wednesday (March 27), will let the Malaysia-based Qoala expand its embedded insurance business across Southeast...
