Category: Insurtech

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Insurtech Funding Roundup, Q1 2020: Investors Reduce Risk As The COVID-19-Induced Downturn Settles In

Insurtechs have brought innovation across the insurance value chain. Incumbents can’t stand still, especially as these nimble, digitally conscious startups disrupt insurance or bring capabilities that drive business efficiency. Incumbents should stay informed on insurtech trends and vigorously monitor the insurtech marketplace to evaluate investment opportunities. To this end, Forrester regularly reviews startup funding through…

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How to choose the right mentor for your startup

CBI Insights’ grim sounding 2020 report entitled 339 Startup Failure Post-Mortems found that 70% of upstart tech companies fail. When it comes to consumer hardware startups, 97% eventually die or “become zombies.” And what were the top three reasons for startup failure? No market need  Ran out of cash  Not the right team (lack of…

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Sprout.ai raises $2.5M to speed up insurance claims

Sprout.ai, an insurtech incubated at London’s Imperial College that is applying AI to insurance claims,, has raised $2.5 million in additional seed funding. Leading the round is Amadeus Capital Partners, with participation from Playfair Capital, and Techstars. Founded in 2018, Sprout.ai has developed AI-based software that it says enables insurance claims to be settled within…

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Bharti AXA launches pay as you drive motor cover

Bharti AXA General Insurance will now offer usage-based motor insurance policies for private car owners under IRDAI’s Sandbox project. For this the general insurer has tied up with insurance aggregator, PolicyBazaar.com. The usage-based motor insurance, also known as ‘pay as you drive’, allows policyholders to pay the premium depending on kilometers driven. How insurance premium…