InsTech News: Wildfires and hurricanes

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We look at the latest funding rounds, industry news and partnerships and provide information about upcoming events at InsTech.

Pets - the insurtech success story

ManyPets - formerly “Bought By Many” has acquired Digital Edge Insurance Company from Munich Re Digital Partners US. The ManyPets group is reputed to insure over half a million pets globally. In related news, James Max wrote recently in the Financial Times that he is paying £4,000 ($4,600) a year to insure his two dogs. Not only that, he felt it good value compared to his doggie health care, which he would have had to pay directly. Remember 2016 in those early insurtech days, when blockchain promised to change the world and pet insurance seemed like a distraction? Matthew Grant

Insurance payments - we haven’t won yet - Podcast 214

Stripe provides the infrastructure for moving money. Businesses of all types use Stripe's software and APIs to accept payments and run financial operations in more than 100 countries. Robin Merttens sat down with the head of UK Enterprise Sales - Insurance & Insurtech, Calogero Scibetta to learn what Stripe has achieved, and where it is going next. 
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ESG reporting in 2023: Practical applications for managing and measuring carbon emission, 24 November, 4:30pm at CodeNode

Following the success of our event a year ago with S&P Global, we are back to find out how insurers and technology companies - including S&P Global themselves - are tackling the challenges of measuring and managing key ESG commitments including measuring carbon emissions. We’ll be joined on stage by speakers from Convex Insurance, Swiss Re, World Benchmarking Alliance, Gamma Location Intelligence and others. Free to members and insurance companies.

Vesttoo closes $80m Series C financing round

The funding round was co-led by Mouro Capital and a private equity fund with participation from Gramercy Ventures, Black River Ventures and Hanaco Ventures. Vesttoo is now valued at $1 billion. The company intends to use the capital raised to further expand its global presence, enhance its marketplace platform and widen its offering to insurers and investors.

bolttech secures Series B investment

Singapore based bolttech provides a platform for embedded insurance and operates in more than 30 markets throughout Asia and Europe and all 50 US states. Tokio Marine, alongside other shareholders, will lead bolttech’s Series B funding round.

CAPE Analytics expands wildfire analytics coverage to the full US in partnership with Maxar Technologies' SecureWatch

CAPE will integrate Maxar’s satellite imagery to strengthen CAPE’s “Wildfire Intelligence” product suite. This offering provides property stakeholders with the information to mitigate wildfire risk through analyses of property-level characteristics, such as vegetation density and structure footprints, alongside risk scores and other tools

Ensuro’s blog: No blockchain reaction in insurance?

Banking, healthcare, real estate, transport, government services and entertainment are all industries which have announced new developments with blockchain and Web 3.0 at the heart of their strategies. Does the insurance industry seem to be more successful at supporting pets than finding ways to leverage the potential of blockchain? Ensuro explores this in its latest blog post.

Raincoat issues 800 parametric policies triggered by Hurricane Fiona

After Hurricane Fiona made landfall in Puerto Rico this September, more than 800 individuals with parametric policies from Raincoat received a pay-out. On InsTech podcast Episode 183, CEO and Co-founder Jonathan Gonzalez explains how his personal experience of Hurricane Maria in 2017 inspired him to start the company.