Techsurance - your weekly insurance technology readings🗞
June 21 - 27
Hi everyone,
Hope you had a great week! Here’s your weekly Insurtech digest from last week, subscribe and share if you like the content!
💲 VC fund-raising and M&A news
A relatively quiet week in terms of fund-raising, with only two big rounds to report.
Hellas Direct raises €32 million from a group of investors, including the European Bank for Reconstruction and Development (EBRD). Hellas Direct is a Greek digital-first, full stack insurance company offering car, motorcycle and home insurance. The company plans to expand to other countries overlooked by global powerhouses, starting with Romania 📰 Coverager
French Insurtech Hoggo raises €11 million Series A funding led by Partech. Founded in 2018, the Hoggo platform enables companies to optimize and simplify the management of their health and risk contracts via a single platform, regardless of the insurer. The company already works with major insurers like Allianz, SwissLife, Generali and Aviva, supporting 2,000 companies, business owners and HR managers 📰 Coverager
🚀 New products, partnerships, collaborations and more
Akur8 deploys its pricing technology into wefox Insurance via a new partnership 📰 Fintech Global
BNP Paribas Cardif partners with Belgian Insurtech Qover to develop a B2C solution for BNP Paribas Cardif’s flagship product, the Mortgage Payment Protection Insurance (MPPI) 📰 Coverager
Urban Jungle, the UK home Insurtech, launches Building and Contents insurance with the help of B2B2C digital insurance creator Wakam 📰 Urban Jungle
Some news from the AXA Group this week:
In Switzerland, AXA will merge with pet insurer Epona to accelerate the growth of Epona in the domestic animal market (dogs and cats) and equines. Epona has nearly 40,000 contracts for 25,000 customers across Switzerland. It is one of the leading companies in Switzerland in animal insurance. With around 30% market share, it is the country’s largest insurer in this sector and, with around 27% market share, the second largest in the dog/cat area 📰 Coverager
In Hong Kong, AXA teams up with Hong Kong Broadband Network Limited to offer complementary home insurance, bundled conveniently with fibre broadband service, network security, and a smart home kit, to offer the most comprehensive home protection solution combo for customers 📰 Coverager
Nationwide launches “Work from Home” Insurance policy in 30 US States. The package bundles auto insurance, home or renters insurance as well as identity theft insurance. Nationwide says it may add pet coverage and other types of insurance to the package. The auto coverage is usage-based, with the promise to save up to 40% on premium paid. The home/renters product is also tailored for remote work, covering the home office 📰 Insurtech Insights
Home 🏡 and car 🚗 insurance news
French home Insurtech Luko launches digital credit insurance product, tackling the €10 billion French credit insurance market. Luko claims that it can offer rates 50 to 70% cheaper than the market average 📰 Mieux Vivre Votre Argent (in French)
Cool read from Digital Insurance on how Metromile and Hippo came to partner to bundle auto and home insurance 📰 Digital Insurance