insurance

US insurance giant Aflac says customers’ personal data stolen during cyberattack

Security /

Aflac, one of the largest insurance companies in the United States, says hackers stole an unknown quantity of its customers’ personal information from its network during a cyberattack earlier this month.  The insurance giant confirmed Friday in a legally required filing with the U.S. Securities and Exchange Commission that the company identified hackers in its […]

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AI insurtech Ominimo bags its first investment at a $220M valuation

AI /

How do you get talented engineers to work for a startup in a mundane field at a time when more exciting companies are paying well and hiring aggressively? Here’s an answer from one insurance startup out of Poland called Ominimo: make pay competitive, yes, but more importantly, give those engineers the license to apply their

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Arizona proposes law that would shift wildfire liability from utilities to insurers

Climate /

Arizona lawmakers are debating a bill that would protect utilities from wildfire-related lawsuits, a move that would likely send shockwaves through the insurance industry.  The bill would make it harder to prove that utilities are to blame for wildfires started by faulty or poorly maintained equipment while also limiting damages. In exchange for reduced liability,

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Insurance co’s stand to lose billions from disasters like the LA fires; Comulate raises $20M to build tech to help them work more smoothly

Fintech /

Unimaginable disasters like the fires in Los Angeles with their hundreds of billions of dollars in destruction put a huge focus on the role the insurance industry plays in the process of rebuilding. Those events will also lead to major financial losses at the insurance companies themselves. And longer term, all of this will put

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Health insurance startup Alan keeps growing at a rapid pace

Startups /

With its 700,000 customers, Alan could be considered as a mature company. But the health insurance company that wants to become a digital companion for your health is still growing like a startup. On Wednesday, the company shared some financial metrics. The most impressive one is its top-line revenue. In 2024, the company generated €505

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Moody’s agrees to acquire Cape Analytics, which develops geospatial AI for insurance providers

Fundraising /

Financial services firm Moody’s announced on Monday that it has agreed to acquire Cape Analytics, a geospatial AI startup, for an undisclosed sum. The deal, which is expected to close in Q1, subject to customary closing conditions, will give Moody’s access to Cape’s geospatial AI analytics technology for insurance underwriting. With the tech, Moody’s plans

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Federato fixes insurance risk analysis with AI, raises $40M

Fundraising /

Insurance has been fertile ground for artificial intelligence innovation, working as it does at the nexus of giant datasets, risk assessment, predictive analytics, fintech and customer service. Federato, a startup riding that momentum, has now raised $40 million to expand its business: an AI-powered underwriting platform to help insurers better understand and respond to risk. 

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European cyber insurance startup Stoïk secures $27 million

Fundraising /

Cyber risk has become an increasingly important issue for small companies around the world. While many companies try to avoid and mitigate cyber risks, they rarely discuss transferring those risks to a third party. That’s why Stoïk is stepping in with a cyber insurance product specifically designed for small and medium-sized businesses. The French startup

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Air Doctor raised $20M to plug a gap in how people find doctors when they’re travelling

Biotech & Health /

Travelling abroad comes with its unique set of stresses, and one of the biggest is what to do if you find yourself unwell. Can you find a doctor who speaks your language, will accept your insurance, and let you avoid the costs and stress of visiting an unfamiliar hospital emergency room?  A startup called Air

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French embedded insurance startup Neat secures $55 million

Fundraising /

It’s not every day that you hear about a large funding round for a French startup in the current funding environment. But Neat, a Paris-based insurtech startup, has managed to raise €50 million (around $55 million at current exchange rates). There is some fine print however. In addition to the traditional equity-for-cash financial transaction, a

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