Here we take stock of the top stories coming out of the Insurance Technology sector this past week – 02.09.19. 

1. Insurtech Zego partners with car-subscription firm

Insurtech firm Zego has partnered with car-subscription service Drover in a move designed to protect its drivers as they drive. The new partnership will see Zego integrated into the sign-up process for UK-based Drover, which was founded in 2015 and offers private-hire drivers a car via subscription.

It will allow Drover customers to be automatically insured on a pay-per-minutes basis, covering Drover drivers for as long as they are driving.

“We’re seeing a major shift from ownership to usership in the world of transport and Drover has taken advantage of this movement to create a unique business model, which has huge potential to change the way that we use cars,”
Sten Saar, Zego CEO.

“We’re delighted to have partnered with a like-minded tech startup in Zego. Their expertise in new mobility and digital first approach makes them the best possible insurtech partner as we continue to scale.”
Rob Prager, Head of Insurance & Risk at Drover.

In July Zego partnered with European e-scooter start-up Dott to offer a similar service to scooter riders.
Read the full story here.

2. Neos joins global Insurtech think tank

Neos Ventures, a London-based insurtech start-up backed by Munich Re and Aviva, has joined global insurance think tank IoT Insurance Observatory, to help drive transformation within the industry.

IoT Insurance Observatory brings together executives from more than 50 insurance groups to discuss the potential of Internet-of-Things technology and trends on the industry as well as the challenges they pose to insurance businesses.

Neos will be participating in the IoT Insurance Observatory’s first conferences, taking place in Milan, Italy on September 17 and in Las Vegas, Nevada on September 23.

“We’re really excited to join the IoT Insurance Observatory community alongside some prestigious players in the insurance industry. Smart home technology is one of the biggest opportunities when it comes to leveraging IoT data within insurance, and we want to make sure Neos is at the forefront of that discussion.”
Matt Poll, CEO and Founder of Neos.

Read the full story here.

3. UK Insurtech Blink partners with Manulife for travel insurance

Since its inception in 2016 Blink, one of the fastest-growing global Travel InsurTechs, has quickly established itself as one of the most innovative and successful providers of flight disruption solutions to insurers across the globe and has formed a number of distribution partnerships in large markets across North America, Asia and Europe.

Blink operates and monitors global flight disruptions in real-time. This paperless service helps ease the stress of a flight delay or cancellation in real-time. The common inconvenience of completing insurance claim forms or submitting receipts is no longer required because the customer does not need to submit proof that the disruption took place.


“We have been working with Manulife to develop a very exciting suite of products that, once launched, will transform the customer travel insurance experience. The Manulife ethos is very much in keeping with our own focus in finding and developing innovative digital solutions with the primary goal of making customers’ travel insurance experience as efficient as possible.”
Paul Prendergast, CEO of Blink.

Read the full story here.

4. Insurtech Startup Ethos Raises $60M in GV-led Series C

Founded in 2016, Ethos says its mission is to make “modern, ethical life insurance” accessible to the masses through its proprietary technology. A prospective customer can apply and qualify for a policy in about 10 minutes, without having to go through medical exams or blood tests—as most people do when applying through more traditional life insurance providers.

Ethos has raised $60 million in a Series C led by Google Ventures (GV), marking the digital life insurance company’s third round of funding in just over 14 months.

The San Francisco-based startup has attracted a bevy of investors in a relatively short amount of time. Besides some of Silicon Valley’s most prominent VCs, Ethos has also raised capital from Stanford University, actor Robert Downey Jr.’s Downey Ventures, NBA player Kevin Durant’s Durant Company, Arrive, a subsidiary of Roc Nation, and actor Will Smith’s Smith Family Circle.

“The nice thing  is we have the majority of our money left over from the last round. So raising more money was not something we needed to do,”
Peter Colis, CEO.

Read the full story here.


5. Skuld deploys London-based insurtech firm’s data analytics platform

Marine insurance provider Skuld has partnered with London-based insurtech firm Concirrus to deploy its Quest Marine behaviour-based data analytics platform. Concirrus’s Quest Marine analytics platform delivers risk management services through the analysis of historical and real-time marine data to uncover behavioural factors that impact loss events. The insights give underwriters access to a detailed view of risk for a specific account or fleet.

By integrating Quest Marine with its business systems, Skuld can identify suspicious loss behaviour, develop risk monitoring insights, and advise members on ways to reduce risk based on a behavioural risk scoring system jointly developed by Skuld and Concirrus.

“The future of marine insurance involves digital tools, and Quest Marine will enhance our risk understanding and loss prevention, as well as supporting our focus on strong personal relationships and service for our members and clients,”
Ståle Hansen, Chief Executive at Skuld.

Read the full story here.



Contact Mike Richardson on LinkedIn or email to submit your InsurTech news for next weeks roundup.