Taking Root, the Next Insurtech IPO. Clover Chooses SPAC.

After Lemonade and other successful IPOs including Snowflake and Palantir, Root Insurance has its sights set on the primary public market. In its S-1, Root minces no words about its intent to reinvent the $266 billion US auto insurance. Five insurtech companies established after 2015 have each raised private capital in the region of $500 […]

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Mobility Giants Gear Up To Enter Insurance Fast Lane

In April 2019, Ford Motors created a new division representing multiple lines, including micro-mobility, non-emergency medical transport and city solutions. General Motors, a 110 year old company, rebranded as General Mobility offering services in real-time vehicle diagnostics, dealer notification and driver scoring to improve performance. Emerging trends in automotive industry allude to a future of […]

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Insurtech Front Page Weekly CXO Briefing – Cars and Auto Insurance

1.10 connected cars

The Theme last week was a preview for InsurTech in 2019.

The Theme this week, is about cars and auto insurance. The auto industry is in the process of revolution with the emergence of connected cars and sharing economy. Sometime it concerns insurance, sometime it doesn’t. But I think insurers should always pay attention.

For more about the Front Page Weekly CXO Briefing, please click here.

Incumbents embracing InsurTech is a common theme in our posts. This time, it’s about customer engagement.

Story 1: Data Derived From Connected Cars Raise Concerns

Extract, read more on Claims Journal:

“Automakers are collecting valuable pieces of information thanks to the internet connections, cameras and sensors built into most vehicles in recent years. The online access makes it possible for cars to be unlocked remotely if the keys are lost. It’s how safety features can be upgraded wirelessly and maintenance schedules adjusted based on performance.”

The article mentioned that government in China has been collecting data from connected car. There have been reports in Chinese media as well, but it did not cause much stir. I have to say in China, people are blunt for privacy, sometimes they are even willing to trade privacy for conveniency.

Story 2: Insurers see value in digital vintage car-sharing

Extract, read more on Digital Insurance:

“Vintage cars are alluring. They represent the simplicity, or craftsmanship, or louche sleaziness of a bygone era. They are also—and I say this as the proud owner of four old vehicles—fussy, dangerous, and excruciatingly unreliable. Not everyone enjoys this kind of constant crapshoot in their daily drive.

Fortunately, a trio of “sharing economy” apps allow occasional access to well-maintained classics. DriveShare, Turo Inc., and Vinty Inc. all function like Airbnb, but each has a unique position. Owners list their vehicles, upload information and images, set a rental price, and provide guidelines on things such as mileage, security deposit, and delivery instructions.”

Out of three of them, DriveShare and Turo Inc. are both backed by national insurance company, Hagerty for DriveShare and Liberty Mutual for Turo. Vintage car sharing is a small market, but insurance can be vital for its healthy growth.

Story 3: Auto marketplace CarDekho grabs $110M to double down on insurance and financial services

Extract, read more on TechCrunch:

“CarDekho, an online marketplace for car sales in India, has pulled in a new $110 million Series C funding round from a clutch of existing investors to push deeper into financial services and insurance.

Sequoia India, Hillhouse and Alphabet’s CapitalG led the round, which also saw participation from Axis Bank, one of CarDekho’s financing partners.”

Service platform is a good place to nurture insurance habits. Since the platform can save the trouble of seeking potential customers, what insurer should do is to attract users with good policies.

Today’s post brought three different stories around cars and insurance. These intersections between insurance and another industry can breed a fair number of opportunities, and along with some problems as well.

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Zarc Gin is an analyst for Warp Speed Fintech, a Fintech, especially InsurTech-focused Venture Capital based in China.

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Insurtech Front Page Weekly CXO Briefing – P&C InsurTech trends


The Theme last week was agitation in the industry.

The Theme this week is P&C InsurTech trends. The P&C (Property & Casual) segment of Insurance, especially personal lines, are going through a profound change. Changes are made both by tech ventures and incumbents.

For more about the Front Page Weekly CXO Briefing, please click here.

For this week we bring you three stories illustrating the theme of P&C InsurTech trends.

Story 1: Emerging Technology in Personal Lines

Extract, read more on Insurance Thought Leadership:

“Five technologies have emerged as “power players” for personal lines insurers, based on insurer activity and the potential for transformation.

They are AI, Drones, IoT, New User Interaction and New Payment Technologies.”

We heard a lot about AI, IoT, a little about Drones. New User Interaction and New Payment Technologies, which are responsible for the communication of customers are relatively new.

Story 2: The Switzerland of Mobility

Extract, read more on Coverage:

“Transit, a Canadian startup that offers a mobile app to simplify urban mobility by combining modes of transportation, has raised $17.5m in a series B round from Accel, Alliance Ventures, Jaguar Land Rover’s InMotion Ventures, and Real Ventures, bringing the company’s total funding to date to $26.6m.”

Transit is working towards building a car-free future. Public transportation, ride hailing, bike sharing and scooter sharing are its weapons. Car insurance will be impacted if they succeed.

Story 3: Personal Home Maintenance Service Setter Raises Series A

Extract, read more on Coverage:

“Setter, a personal home maintenance service from Canada, has announced a $10m Series A round co-led by Sequoia Capital and NFX, with participation from Hustle Fund, to expand across North America. This brings the company’s total funding to date to $12m following a $2m seed round from Sequoia, Hustle Fund and Avichal Garg last year.”

With the help of home maintenance platforms like Setter, home insurers can know better about their customers’ homes. Potential improvements for pricing and claims.

Editors Note: interesting to see 2 out of 3 coming from Canada, America’s northern neighbour.

Property & Casualty insurance is shaped by the way people move and live. When they change, P&C will have to keep the pace and change together. Sooner better than later.

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Zarc Gin is an analyst for Warp Speed Fintech, a Fintech, especially InsurTech-focused Venture Capital based in China.

Get fresh daily insights from an amazing team of Fintech thought leaders around the world. Ride the Fintech wave by reading us daily in your email.

Insurtech Front Page Weekly CXO Briefing: Cross-Industry expansion


The Theme this week is cross-industry expansion. This indicates that insurance is getting a higher degree of integration with our lives.

The Insurtech Front Page Weekly CXO Briefing is all you need to know for the week, jargon free for executives, entrepreneurs and investors who want a piece of this huge, fast changing market. Each week we select one theme illustrated by 3 news items, because we know that you are busy. Our job is to filter out the noise, so you can read the signal. We bring you the raw news plus our take on why it is significant.

For this week we bring you three stories illustrating the theme of cross-industry expansion:

Story 1: Credit Karma Makes Significant Move with New Insurance Experience

Extract, read more on Business Wire:

“Credit Karma today announced its expansion within insurance. Launching today in California and Texas, Credit Karma’s members will be able to see what they could be paying for auto insurance based on what members like them are paying for the same coverage.

This move will address the mis-pricing issue of Americans’ auto insurance policies and will soon arm its more than 80 million members with the information needed to make the best decision on their insurance policy, without the headache. Credit Karma estimates that Americans overspend on auto insurance by nearly $21 billion per year.”

Credit Karma is already providing auto-related services to its users such as loans and evaluation of their cars. This move into insurance is apt and can be effective.

Story 2: Flipkart forays into insurance space, teams up with Bajaj Allianz

Extract, read more on The Economic Times:

“E-commerce major Flipkart Sunday said it is foraying into the insurance segment after securing a corporate agent license. To begin with, Flipkart has partnered Bajaj Allianz General Insurance to offer customised insurance solutions to power its mobile phone protection programme for all leading mobile phone brands that are sold on its platform, Flipkart said in a statement.”

News from India that is globally significant because it is one more example of an e-commerce giant moving into insurance. Amazon from America and Alibaba from China are already making this move. India is a big market with it’s own local champions like Flipkart, but what makes India such an interesting market to watch is that it is a market that big global players, such as Amazon and Alibaba, are fighting over. India is a battleground market. If any of these e-commerce giants can make the user experience of Insurance as easy as the user experience of e-commerce, they will change the lives of billions and make fortunes.

Story 3: WeWork taps Lemonade to offer insurance to WeLive members

Extract, read more on Techcrunch:

“WeWork has partnered with Lemonade to provide renters insurance to WeLive members.

WeLive is the residential offering from WeWork, offering members a fully-furnished apartment, complete with amenities like housekeeping, mailroom, and on-site laundry, on a flexible rental schedule. In other words, bicoastal workers or generally nomadic individuals can rent a short-term living space without worrying about all the extras.”

This is a great example of two big innovative ventures innovating together to deliver unique customer value. It is a fine example of the art of the partner.  When your customers are almost from the same group, a partnership would be great to improve the quality of your service. That’s what Lemonade and WeWork are trying to accomplish. It is also another example of how Insurance is central to our lives and how if one makes what is essential but boring easy to buy and consume, then customers will buy.

Cross industry expansions can be actions like establishing a new business as well as building a partnership with players in other fields. Integration can amplify the value propositions for insurance industries. Tech giants like Amazons and Alibaba have done this in earlier times and I’m sure we will see more and more integrations between insurance and other industries.

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Zarc Gin is an analyst for Warp Speed Fintech, a Fintech, especially InsurTech-focused Venture Capital based in China.

Get fresh daily insights from an amazing team of Fintech thought leaders around the world. Ride the Fintech wave by reading us daily in your email.