The round, led by Advent International and participated in by existing investors, will drive execution of Shift’s existing vision, product R&D and deeper penetration of existing markets in Europe, Asia and North America.
The InsurTech MGA will use the funding to launch an auto insurance product that removes rate factors that it says result in unfair rates to its Spanish-speaking target customers.
Arturo will use the new funding to grow its technical team to refine its technology, as well as expand its geographic reach, while breaking into lending and other business sectors.
Insurers must move beyond the traditional approach of automation supplemented by manual processes to one of digitization and the integration of alternative data into core underwriting processes.
Duck Creek customers now have access to CARFAX data through an Anywhere Enabled Integration available on Duck Creek’s Content Exchange.
The acquisition gives Insurity an advantage in pursuing the $40 billion program business market and enables P&C carriers and MGAs to rapidly grow through bureau content-enabled software.
The integrated offering aims to empower insurers to enhance value and profitability and personalization across the life insurance value chain.
Terrene Labs adds a ‘missing piece’ to FRISS’s suite of fraud, risk and compliance solutions, enabling growth of the company’s underwriting tool in the U.S., and thus making its end-to-end capabilities available in that market.
Terrene joins the FRISS suite as Underwriting Insights, available immediately as a standalone product, subsequently to be integrated as part of FRISS’s end-to-end fraud, risk and compliance solutions.
IIR talks with Ian Macartney about the specialty insurer/reinsurer has accelerated its transformation journey with grass roots innovation and an Enterprise Solution for digital transformation.