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☆ Climate-focused insurtech company Arbol just raised a Series B funding round. Here's an exclusive look at the deck the startup used to land $60 million.
▼ + stars: | 2024-05-20 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +1 min

The startup just raised a $60 million Series B funding round. We got an exclusive look at the pitch deck the startup used to raise its new round of funding. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The startup Arbol just raised $60 million in Series B funding. Giant Ventures and Opera Tech Ventures co-led the round, with Mubadala Capital also participating in the fundraise.

Persons: hasn't Organizations: Service, Giant Ventures, Opera Tech Ventures, Mubadala Capital, Finch Finance, Space, Business

☆ Meet Boston's new power venture capitalist
▼ + stars: | 2024-03-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +10 min

A changing of the guard is underway at Boston-based venture capital firm Underscore VC. The venture capitalist, wearing a cherry red cardigan and Apple Watch, cracked open a notebook and set it beside an iced coffee. Underscore VCLyman's Facebook credentials could have given her a ticket to many venture firms located down the road in Menlo Park. "The thesis is that if you get the right people around the business at the right time, it'll change the trajectory of the business," Lyman said. As Lyman steps up, so does UnderscoreUnderscore is moving into its next phase during a reckoning for venture capital.

Persons: Lily Lyman, —, Mike Greene, Marley, Lyman, Greene, she's, Michael Skok, John Pearce, Lyman —, Lily, they're, Skok, Alessandra Henderson, Pamela Aldsworth, Jeff Bussgang, Hi Marley, Gordon Ritter, Kevin Bacon, There's, Ritter Organizations: Service, Harvard University, Facebook, House, Apple Watch, Elektra Health, JPMorgan, New England Venture Capital Association, MIT, Allston Venture Fund, Harvard, Boston's, Capital Partners, OpenView Venture Partners, SEC, Old, Capital Locations: Boston, Old, Menlo Park

☆ Give us your nominations: CNBC is listing the world’s top fintech companies
▼ + stars: | 2024-02-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

For a second year, CNBC and independent research firm Statista are working together to identify the world's top fintech companies, to be named in a published CNBC report this July. Nominations are now open for the top global fintech companies list. You can check out last year's list of the top 200 fintech companies, which includes the likes of Chinese tech giants Ant Group and Tencent, U.S. fintech firms PayPal and Stripe, and European companies like Klarna and Revolut. In addition to the fintech list, CNBC is also launching a separate list showing the top insurance technology (insurtech) companies globally, planned to be published in August. Insurance has proven a market ripe for digital disruption, as a wave of new digital-native companies have done away with the paper-based processes that previously dominated the industry.

Organizations: CNBC, Ant Group, PayPal, Insurance

☆ bolttech CEO says the insurtech is always thinking about capital access amid IPO rumors
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Emailbolttech CEO says the insurtech is always thinking about capital access amid IPO rumorsRob Schimek, CEO of bolttech says the insurtech company is "accelerating the pace" at which the insurance gap in Southeast Asia is being filled, and discusses speculation of a potential 2024 IPO.

Persons: Rob Schimek, bolttech Locations: Asia

☆ Deutsche Bank and UniCredit back $4.5 billion insurance startup Wefox with $55 million in fresh funds
▼ + stars: | 2023-11-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Wefox, the $4.5 billion German insurance technology group, has raised $55 million of fresh funding from Deutsche Bank and UniCredit , two anonymous sources familiar with the deal told CNBC. The deal was structured as a convertible debt agreement, meaning that the debt will be converted into equity when Wefox next raises cash, the sources told CNBC. The fresh funding follows on from a $55 million debt round Wefox raised from JPMorgan and Barclays and a $55 million internal fundraise earlier this year. As Wefox didn't raise equity, its valuation remains unchanged at $4.5 billion. Wefox is also pushing into a new model of selling insurance called "affinity" distribution.

Persons: Wefox, Goldman Sachs Organizations: Deutsche Bank, CNBC, JPMorgan, Barclays, VC, Salesforce Ventures, Target, Horizon Ventures, UBS, Mubadala Capital Ventures, Jupiter Asset Locations: U.S, Germany, Paris, Barcelona, Milan

☆ Insider Today: Side hustles' turning point
▼ + stars: | 2023-09-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

A new study from Morgan Stanely makes the case that generative AI will enable people to work multiple jobs, writes Insider's Alistair Barr. In the US alone, multi-earning has increased 11% over the past year, largely thanks to the rise of generative AI tools like ChatGPT. New research from EY found that nearly 40% of Gen Zers had a side hustle to earn extra money. Adding fuel to the fire is the fact bosses don't seem to care if their employees are working multiple jobs, albeit with one caveat. To be sure, executives' acceptance of employees working multiple jobs might be short-lived.

Persons: Randy Rush, Morgan Stanely, Alistair Barr, Morgan Stanley, EY, Gen Zers, Zers, Gen, Z, Alex Wong, we're, It's, Peter Brown, alums, —, Brooks Kraft, Cassidy Hutchinson, Rudy Giuliani, Joe Biden, Volodymyr Zelenskyy, Mike Minnis, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, cofounders, Renaissance Technologies, Tesla, Bugatti, Brooks Kraft LLC, Getty, Netflix, United Nations General Assembly, Darden, Olive Garden, LongHorn Locations: Wall, Silicon, Asia, Scottish, —, Europe, Americas, Olive, New York City, San Diego, London

☆ Meet the Instacart mafia: Here are 14 alumni of the grocery-delivery company who have founded their own startups and collectively raised at least $144 million from VCs
▼ + stars: | 2023-09-20 | by ( Samantha Stokes | Madeline Renbarger | Vishal Persaud | ) www.businessinsider.com time to read: +1 min

Some former Instacart employees have left the company to found their own startups. Meet 14 Instacart mafia members who have collectively raised at least $144 million for their own startups. Former Instacart employees are in good company. Meet the Instacart mafia, which includes former chief growth officer Elliot Shmukler and Andreea Akerele Francis, the company's head of product, retention and growth from 2018 to 2021. They and others have now founded companies of their own that have raised millions of dollars in VC funding.

Persons: Elliot Shmukler, Andreea Akerele Francis Organizations: Nasdaq, mafia Locations: insurtech

☆ These are the 19 hottest insurance tech startups to watch in 2023, according to VCs
▼ + stars: | 2023-07-25 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Insurance tech in Europe had its second-best-ever year in 2022, raising $2.2 billion, per Dealroom. Venture capitalists remain bullish on the insurance tech, or insurtech, sector, banking that the risk-averse industry can be disrupted. The second generation of insurtech startups is emerging across pet insurance, climate risk, and newer areas such as freight and automated vehicles. Insider asked Europe's venture capitalists to pick out some of the insurance tech startups they expected to thrive in 2023. Here are 19 European insurance tech startups to watch in 2023:This article was originally published on May 23 and most recently updated on June 5.

Persons: Root Organizations: Insurance, Venture Locations: Europe

☆ Curb Your AI Enthusiasm: Just Look at the Insurtech Carnage
▼ + stars: | 2023-06-28 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/curb-your-ai-enthusiasm-just-look-at-the-insurtech-carnage-702bd1bb

Persons: Dow Jones

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☆ Europe's insurance tech startups raised $2.2 billion in 2022. Here's 19 of the burgeoning sector's hottest companies to watch this year, according to VCs.
▼ + stars: | 2023-06-05 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Insurance tech in Europe had its second-best-ever year in 2022, raising $2.2 billion, per Dealroom. The age-old insurance industry has long been battling upstarts promising to upend the sector. The first wave of insurance tech startups birthed a bevy of now-public companies like Lemonade, Metromile, Hippo, and Root, many of whom are now struggling to justify valuations in the wake of creeping losses. Insider asked Europe's venture capitalists to pick out some of the insurance tech startups they expected to thrive in 2023. Here are 19 European insurance tech startups to watch in 2023:This article was originally published on May 23 and most recently updated on June 5.

Persons: upstarts, Root Organizations: Insurance, Venture Locations: Europe

☆ This startup helps early-stage forestry projects get funded. Check out the 14-slide pitch deck carbon credit marketplace Xilva used to raise $2 million.
▼ + stars: | 2023-04-12 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Zurich-based Xilva helps early-stage forestry projects access the capital they need to scale up. The startup has developed its own propriety vetting process to help build trust in the carbon market. A startup helping forestry projects access capital has just raised 1.8 million euros in fresh funds. The voluntary carbon market, where carbon credits are bought and sold, has been plagued by quality issues. Check out the 14-slide pitch deck Xilva used to raise the funds below:

LONDON, March 3 (Reuters) - European buyout houses Montagu Private Equity and Astorg Partners are preparing to hang the "for sale" sign on their UK insurance software investments, hoping to woo insurers and fellow private capital funds with their technology. Acturis, Astorg and Open GI did not respond to requests for comment. It last attempted to sell the business in 2018 and has since strived to transform it into a software-as-a-service (SaaS) platform, which could attract fellow private equity funds with existing investments in the insurance industry, sources said. Open GI could be worth up to 12 times its expected core earnings of more than 30 million pounds ($35.96 million) expected for 2023, two sources said. Revenue rose to 111.9 million pounds from 102.4 million pounds the previous year, as the company added new brokers and insurers to its eponymous SaaS platform.

Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.

I'm a former life insurance agent, and I bought a policy to protect my family in case I die unexpectedly. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAs a former life insurance agent, I've heard many reasons people get life insurance. This is why, a few years ago, I got a term life insurance policy worth $500,000. I knew I needed to get an independent life insurance policy that I could keep long-term. Insider's Featured Life Insurance Companies Lemonade Life InsuranceNationwide Life InsuranceGuardian Life Insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

☆ Accel-backed insurance startup Luko doubles down on core business in push to profitability as it struggles to fundraise in gruelling market
▼ + stars: | 2022-11-02 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Accel-backed insurance startup Luko has struggled to raise during the market downturn. The Paris-based company, which was founded in 2018, predominantly operates as a home insurance business by selling policies to homeowners and renters using its proprietary AI. The round valued the business at around 260 million euros ($253 million), according to one London-based source. Funding to insurance tech startups also plummeted 50% year-on-year to $2.41 billion in Q2, according to data from brokerage Gallager Re. The home insurance startup has also been forced to lose employees across the business in recent months in a bid to conserve cash.

☆ Amazon debuts home insurance store in the UK in latest move into finance
▼ + stars: | 2022-10-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

LONDON — Amazon will start selling home insurance in the U.K. through partnerships with three local insurers, further expanding the e-commerce titan's push into financial services. The company announced Wednesday it is opening a new service called Amazon Insurance Store. They're then shown a list of quotes from Amazon's insurance partners, along with reviews and star ratings from other customers. "When we set out to create the Amazon Insurance Store, we wanted to improve the experience for customers shopping for home insurance so they could easily compare options and make an informed, objective decision—just like shopping on Amazon." It's the first time the company has launched a store selling insurance.

☆ New York Financial Regulator Wants to Lead on Crypto, Climate Change
▼ + stars: | 2022-10-14 | by ( Mengqi Sun | ) www.wsj.com time to read: +7 min

New York’s financial regulator, which oversees insurance companies and state-chartered banks, already plays an outsize role in financial services, with many other states following its lead on regulation and enforcement. Ms. Harris seeks to bring that leadership role to other areas, including crypto and climate change. She served as a senior adviser at the Treasury Department and as head of an Obama administration financial task force. One of the benefits of being a state regulator is that you can move fast and be nimble; you can respond to changes in the marketplace. The other thing that we’ve done is really calling out the tension between climate goals and fair-lending and equity goals.

☆ Box CEO: Fortune 500 Companies Are Holding Their Own Against Digital Upstarts
▼ + stars: | 2022-10-05 | by ( Tom Loftus | ) www.wsj.com time to read: +4 min

A decade ago, the big bet in Silicon Valley was that some of the world’s brawniest corporations would be disrupted by nimble, digital-first startups. Mr. Levie: I actually think a large percentage of the Fortune 500 has done this well. And yet I would argue that a large percentage of the Fortune 500 responded well to that threat. Mr. Levie: What Silicon Valley is very good at is delivering world-class digital experiences to consumers and then disrupting entire markets because of that. PREVIEWWSJ: The Fortune 500 is holding its own.

☆ Ethos scores a $2 billion valuation after raising a $200 million to disrupt life insurance
▼ + stars: | 2021-05-13 | by ( Victor Chatenay | ) www.businessinsider.com time to read: +3 min

US-based insurtech Ethos achieved a $2 billion valuation following a $200-million Series D round. Get a daily newsletter packed with financial services data, insights, and analysis from the Insider Intelligence team. Founded in 2016, Ethos offers both term and whole life insurance underwritten by partner carriers . It can take weeks for consumers to access life insurance coverage due to back and forth with incumbents, often including a doctor's visit and blood tests. And booking such exams got harder last year as doctors were called to the pandemic fight, making life insurance applications all the more arduous.

Persons: insurtech, Jay, Robert Downey Jr, Will Smith, insurtechs Organizations: Intelligence, Insider Intelligence, Banking, Insider Inc, Service, Ethos

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