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Pay-per-mile auto insurer Metromile is heading to public markets via SPAC

TechCrunch

Metromile , the pay-per-mile auto insurer that earlier this year laid off a third of its staff due to economic uncertainties caused by COVID-19, is taking the SPAC path to the public markets. Metromile is credited for disrupting some of the inefficiencies of the auto insurance business model, notably how consumers are charged.

Insurance 274
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Lemonade launches its renters insurance in France

TechCrunch

Lemonade is launching its renters insurance in France. Lemonade is now a public company with a current market capitalization close to $4 billion. Lemonade has optimized its insurance product in different ways. First, it’s supposed to be easier to sign up with Lemonade compared with a legacy insurance company.

Insurance 284
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Embedded finance will help fill the life insurance coverage gap

TechCrunch

Melbourne O’Banion is co-founder and CEO of digital life insurance company Bestow. An estimated 41 million Americans say they need life insurance but have yet to purchase coverage. There’s latent demand for life insurance currently unaddressed by much of the financial services industry, and embedded finance can be the solution.

Insurance 251
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Exploring the digital impact in Northern Ireland’s health and social care system

CIO

The pandemic accelerated the urgency for reform in health and social care around the world, which strained resources to unprecedented levels. It all reduces the ability to arrive at a budget settlement that shifts resources into the health and social care space. So you can see how my job has had to react to all of those stimulants.”

Social 246
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Loop launches out of stealth to make auto insurance more equitable

TechCrunch

Car auto-insurance from legacy providers has structural bias built into it. It uses metrics such as credit score, income, marital status and education to figure out insurance rates, which eventually disproportionately hurts low-income individuals through high rates and low protection. How to rewrite the rules.

Insurance 204
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Soci raises $120M in debt and equity to grow its marketing management platform

TechCrunch

“Soci became an essential partner to brands for this transformation, which led to an increased need for brands to turn to technology to manage their presence in local digital market channels.” Khoury says he was inspired to found Soci by the dearth of options for brands to manage their presence across digital marketing channels.

Marketing 234
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UK’s Marshmallow raises $30M on a $310M valuation for more ‘inclusive’ car insurance

TechCrunch

When it comes to using algorithms and other formulae to determine what kinds of services you might offer to specific customers and at what price, the insurance industry is one of the oldest in the book. Insurance is a huge industry, with McKinsey estimating back in 2017 premiums of more than €4 trillion globally. Now, a U.K.

Insurance 166