Insurtech weekly news roundup: July 29
Corvus Insurance policy is pursuing a European growth by way of a new business office in Frankfurt, Germany.
Corvus is an AI-pushed specialty insurance MGA centered on protection locations such as cyber, technology and cargo. The business costs its electronic platforms and instruments as enabling productive quoting and binding, along with proactive possibility mitigation.
Corvus explained that the new business permits it to increase internally and go on to expand its offerings. The Boston-based corporation touts the transfer as “a initially for a US-based mostly insurtech.”
“Frankfurt is found in just the premier insurance plan industry on the continent and the metropolis has always been an global small business hub throughout industries,” Oliver Delvos, head of International at Corvus Coverage, reported in organized remarks. “We will be equipped to distribute our wings and produce our business enterprise with a true European focus.”
Ascend/NowCerts
Insurtechs Ascend and NowCerts are partnering to mix workflow administration with payments and high quality funding for agents.
Ascend is an insurance policies payments platform created to provide automated all-in-a single financing, collections and payables. NowCerts is a cloud-primarily based insurance agency management technique employed in spots which include endeavor management, ACORD types, invoices and far more.
Their linkup is intended to assistance brokers mechanically pull buyer and policy information and facts immediately into Ascend to easily create company invoice payment checkout hyperlinks, with premium financing built-in.
The firms invoice their partnership as the initially to contain each payments and high quality financing designed into one particular system/assistance. This integration is designed to serve equally Ascend’s nationwide buyer base as effectively as NowCerts’ recent 800-moreover associates.
Brewer Lane Ventures
Brewer Lane Ventures, a Boston-dependent venture capital business concentrated on insurtech and other fiscal expert services sectors, extra a new husband or wife and promoted yet another.
The group employed Douglas Kim as working lover, and promoted David Castellani, from working principal to operating associate.
Kim will concentrate on partnering with portfolio organization founders to give strategic steerage and execution experience as they scale their business. He has extra than 30 years of working experience in co-founding and managing enterprise application enterprises in AI-shopper engagement and automation. He’s served observed functions like Pega Cloud, the $250 million company SaaS company for Pegasystems, Inc. and was a founding executive at NovaSoft, a information management company.
Castellani joined Brewer Lane Ventures in April 2021, in the beginning as an functioning principal. Beforehand, he was senior vice president and organization facts officer at New York Daily life, where by he oversaw enterprise know-how and IT governance. He also started two startup organizations in the earlier, both centered on making use of technologies to travel approach improvement.
Counterpart
Counterpart, a tech-driven controlling basic underwriter concentrated on administration legal responsibility include, has launched a new Excess insurance coverage merchandise for compact small business.
The include is provided on director and officers, work procedures and fiduciary legal responsibility, with a $3 million highest limit. Backed by Aspen Coverage, the featuring is obtainable for little enterprises with much less than 250 employees and considerably less than $250 million in revenue and property. Prospects will be equipped to purchase the protect through Counterpart’s wholesale broker partners.
“Excess insurance policies is the most requested products from our brokers, and we have worked carefully collectively to style a item that addresses their needs and demands,” Mike Levins, head of insurance at Counterpart, said in geared up remarks.
BOXX
The cyber insurtech BOXX employed two new executives as it proceeds to scale globally.
Eric Newman is the Toronto-primarily based company’s new main working officer and Steve Penney was hired as chief technologies officer.
Newman, dependent in Palo Alto, Calif., has a deep background in setting up and scaling security and fraud avoidance systems. Beforehand, he held leadership roles at corporations which includes PayPal, RiskIQ, Pindrop, RSA Safety and Silvertail Units. In his new job, he’ll lead BOXX’s technological innovation and information approach and assist propel its industry enlargement.
Earlier, Penney was at Deloitte, exactly where he led electronic technological know-how, commerce and transformation initiatives for a variety of customers. He was also chief of the electronic transformation crew at TELUS Communications, the place he dealt with supply, management and governance of TELUS’ digital buyer programs products and solutions and platforms, the company stated.
Cover Genius
Digital MGA Include Genius has acquired Scheduling Guard, a specialist in embedded ticket safety for ticket sellers, platforms and live occasion organizations.
Neither side disclosed economical phrases.
The deal assists Go over Genius extend its presence in the ticketing and are living enjoyment sector by enabling ticketing platforms, small-to-mid-sized ticket sellers, activities and venues, and Booking Protect’s 350-additionally associates to give embedded ticket security globally through the company’s XCover worldwide distribution system.
