Pet insurance
Bought by Many confirms name change outside of the UK
Pet insurance provider Bought by Many will be changing its branding to Many Pets in markets outside of the UK, chief financial officer Luisa Barile told Post.
Insurtech Rnwl aimed at reducing dual pricing 'pain point' announces pre-seed raise
The founder of equity crowd-funding platform Syndicate Room is looking for individual investors on Seedrs for his latest venture, insurtech start-up Rnwl, that is targeting the 'pain point' of dual pricing.
Insurer home and motor pledges to continue until end of October
Home and motor insurance pledges made by the Association of British Insurers to support customers during the Covid-19 crisis will remain in place until at least 31 October following an extension.
Direct Line acquires insurtech Brolly
Direct Line Group has agreed to acquire personal lines insurtech firm Brolly in a conditional transaction expected to close during the third quarter of 2020.
Briefing: Lemonade’s IPO plans – losses, lines, Lloyd's and 'love'
Lemonade will seek to raise up to $100m (£78.5m) via an initial public offering, with its prospectus shedding snippets of insight into its past, present and future.
Insurance Covid-Cast: Insurtech 100 special - Lemonade CEO Daniel Scheiber talks AI, European expansion and IPOs
The CEO and co-founder of Lemonade has declared young IPOs better for the long term viability of new technology businesses because it prevents them getting stuck in a state of ‘protracted adolescence,’ comforted by the ‘cocoon’ of private equity.
Analysis: Protecting pets
Over the past decade, the UK’s pet insurance market has seen substantial growth with 7.7 million pet insurance customers in the country. But amid so much uncertainty due to the Covid-19 pandemic, what reassurances are insurers providing to customers who…
Insurance Covid-Cast episode 10: Newsmaker special with Bought By Many CEO Steven Mendel
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the first in a series of newsmaker specials focusing on the people behind the lockdown headlines.
Insurance Covid Cast Episode Nine: Could Tiger King Joe Exotic cut it as a fraud fighter or handle big cats at Lloyd’s?
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are in isolation lockdown we present first in an irregular series - Covid Culture Club - where we discuss things to watch and do at home.
Bought By Many to enter new markets after largest UK insurtech raise of $98m
Pet insurance specialist Bought By Many has secured $98m (£78.4m) in growth equity investment led by FTV Capital, having agreed terms sheets with the US growth equity investment firm and five other potential investors prior to Covid-19 lockdown.
Analysis: What are insurtechs doing in the face of the coronavirus pandemic – Part Two: Pan-European start-ups?
In light of the coronavirus pandemic, Post content director Jonathan Swift caught up with a number of insurtechs to find out what they are doing to reduce staff and client’s exposure to Covid-19, while keeping operations as business-as-usual as possible…
Bought By Many adds Jim Sutcliffe as chair
Exclusive: Bought By Many has appointed former Prudential UK CEO Jim Sutcliffe to chair the company.
Bought By Many eyes Series C round early this year
Pet insurance insurtech Bought By Many has engaged with a number of larger funds as it edges towards a Series C fundraising round in the coming months, CEO Steven Mendel told Post.
Ardonagh explains carrier cull and alternative capital plans in APS roll out
Ardonagh has cut its carrier relationships from 940 to 700 in the past six months with an eventual target of below 200, Paul Dilley, CEO of Geo Underwriting told Post.
Pet insurance fraud 'unlikely' to be the next cash for crash scam
While there is “no doubt” that pet insurance fraud goes on there are hurdles which mean it is probably not going to be the source of a cash for crash style insurance swindle, according to Robin Hargreaves, past president of the British Veterinary…
Tesco to buy out Ageas from insurance joint venture
Exclusive: Tesco has notified the Ageas UK board that it is likely to end its decade long home and motor insurance relationship next year, Post understands.
Arch-backed MGA Archipelago aims to address PL underinsurance with data driven fair pricing
Arch Insurance-backed managing general agent start-up Archipelago Risk Insurance has announced that after a six month “pilot” it is ready to open the doors in a “controlled way”.
Cyber insurance payout rates at 99% but uptake still too low
Cyber insurance payout rates at 99%, but the take-up rate of cyber insurance by businesses in the UK still worryingly low, warn insurers.
Covéa's Graeme Howard on why data offers endless opportunities
As a data-rich industry, the insurance sector can add value to the customer experience by using this information to enhance the way products and services are delivered. Graeme Howard, chief technology officer at Covéa Insurance, believes it’s essential…
Blog: How digital can help the pet insurance sector reach its full potential
The average cost of a pet claim is on the rise with payouts often exceeding premiums. However, insurers need not cut margins to remain profitable, with Mark Colonnese of Aquarium Software, pointing to the smart deployment of digital technology as key to…
Allianz operating profits rise as personal lines transfer to LV approaches completion
Allianz UK CEO Jon Dye confirmed that the transfer of personal lines business from Allianz to LV remains on-track and will be completed within three to four weeks, as the insurer announced its Q1 results.
This week: A rest or a change
I was lucky enough to spend last week’s sunny bank holiday on the South Coast enjoying a well-earned rest. For others in the insurance industry it seems that the saying 'a change is as good as a rest' is proving true with some major people moves this…
Blog: Claim sharing – the insurance alternative that cuts out the regulator
Despite a number of technological revolutions, general insurance hasn’t altered much since it was first conceived centuries ago in City of London coffee shops. You Do Pet founder Paul Dennis argues 'claim sharing' might be about to change that.
Customers increasingly looking to credit to pay for premiums: research
Insurance customers are increasingly relying on credit to pay premiums, with nearly one in three planning to use more credit this year, research found.