The Series A investment will be used to further develop Balance Re’s proprietary asset-liability management technology and to support its fully licensed German reinsurance company.
The round, led By Goldman Sachs Asset Management will allow the InsurTech marketplace to expand its operations and partnerships across the automotive retail ecosystem.
The vendor will provide digital identity verification solutions to state unemployment insurance programs in reaction to increased fraud arising from pandemic.
Through State Farm’s Fiserv technology-powered Digital Pay, claimants opting for a digital payout can receive funds in their personal account in a matter of seconds, disbursed via the payment method that best suits their needs.
HazardHub’s proprietary datasets, risk scores, and catastrophe models are now available to Sunlight customers.
The partnership lets insurers gather extensive insights from internal or external data sources, enrich rate-making processes, and gain access to advanced actuarial expertise.
Sapiens’ solutions enable AFR to migrate all lines of business to a single digital platform and automate manual reinsurance.
Graves, who will join Metromile’s board, joins Chamath Palihapitiya’s Social Capital, Mark Cuban and leading institutional investors as investors in the company.
Investors will become even more pragmatic and disciplined, narrowing their focus to more mature InsurTechs displaying measurable traction and whose products and services are higher on the insurance industry’s adoption curve.
The joint strategy aims at providing digitalization and intelligent automation solutions to enable financial institutions to reach higher levels of efficiency and customer experience.