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Oscar Health’s IPO filing will test the venture-backed insurance model

TechCrunch

Late Friday, Oscar Health filed to go public , adding another company to today’s burgeoning IPO market. The New York-based health insurance unicorn has raised well north of $1 billion during its life, making its public debut a critical event for a host of investors. Net premium earned: $455 million (-3% from $468.9

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Kenya’s MotiSure rides on micro-payments to drive personal mobility insurance growth

TechCrunch

Affordability is one of the biggest impediments for insurance penetration in Kenya. The API-powered platform is using technology to disrupt a market that is largely dominated by traditional insurance companies, many of which are reluctant to abandon lengthy paperwork, and traditional payment modalities for both premiums and claims. “We

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Beam raises $80M as the dental insurer looks to keep up rapid historical growth

TechCrunch

Mercato-affiliated Traverse led the investment, with Nationwide insurance joining the deal. The investment comes after rapid growth at the company, a common theme amongst neo-insurance providers. Both are new investors in Beam. Prior investors Drive Capital and Georgian Partners also put capital into the funding event.

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Amex Ventures bets $5M on Trellis, which wants to make switching insurance providers easier

TechCrunch

How many people have stuck with the same auto insurance provider because the process of finding a new one feels overwhelming and painful? Trellis says it has built an API platform that lets consumers shop for car insurance policies by offering side-by-side comparisons, a way to buy a new plan and cancel their old plan — all at once.

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UK’s Marshmallow raises $85M on a $1.25B valuation for its more inclusive, big-data take on car insurance

TechCrunch

Meanwhile, Marshmallow’s novel, big-data approach and successful traction in the market speak for themselves. Alongside that, Marshmallow will also use the funding to inch closer to its plan to expand to markets outside of the U.K. Shift Technology raises $220M at a $1B+ valuation to fight insurance fraud with AI.

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YC W22 batch nets 24 African startups, including 18 from Nigeria

TechCrunch

Quick thoughts : Off the back of DoorDash’s IPO, Y Combinator seems set on replicating that success in other markets, including Africa, where the likes of Glovo and Jumia Food are ramping up efforts to grab market share. What it says it does : Building Plaid for insurance in Africa. Founded in : 2019. Team size : 30 .

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B2B marketplaces will be the next billion-dollar e-commerce startups

TechCrunch

Financing: It is customary in B2B transactions to pay “with terms,” such as net 30 or net 60, effectively giving a line of credit to the business buyer that enables them to send payment after delivery of the good or service. Insurance is designed to protect against damage to the goods in transit or theft.

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