Dallas fintech company Bestow, which provides life insurance services, has attracted a $70 million Series C funding round.
Creating a business interruption solution opens up a significant new market for Blink and will make it quicker and easier for insurers to support firms with financial assistance.
Britain is leading the way in fintech adoption in the developed market, according to a new report from professional services and Big Four firm EY. EY’s fintech adoption index showed that 42 per cent of consumers in the UK are now using fintech services. However, there has been growth worldwide when it comes to the adoption of financial technology, with usage rates being high in emerging markets such as South Africa, China, India, Brazil and Mexico. Highest Emerging markets topped the fintech adoption index, with China having the highest adoption rate at 69 per cent, followed by India at 52 per cent. The report, which was based on findings from […]
Aviva is eyeing acquisitions in artificial intelligence and big data as it looks to overhaul the insurance industry and transform itself into a fintech firm. Chief executive Mark Wilson said the 321-year-old insurance giant had built a good balance sheet and was primed to use it to ensure the business remains a step ahead of its rivals. Speaking at Aviva’s “digital garage” in Hoxton, East London, Mr Wilson said the insurer’s innovation projects had attracted calls from “big names in Silicon Valley” and helped seal a lucrative deal with Tencent, a 300 billion US dollar Chinese technology firm. He said: “I don’t mean billions, but we will do acquisitions if […]
Trov, the technology company revolutionising insurance for the tech-empowered consumer, today announced that it has closed AU$59.44 million (US$45 million) in Series D funding led by Munich Re / HSB Ventures, bringing its total funding to just over AU$112.28 million (US$85 million). All of Trov’s Series C investors participated in the round (Oak HC/FT, Suncorp Group (ASX:SUN), Guidewire (NYSE: GWRE), and Anthemis). Also participating in the financing is one of Japan’s leading insurers, Sompo Holdings (SOMPO), who will bring Trov to Japan. The new capital will be used to bring Trov’s on-demand insurance capability to more people around the world, expand the categories of items it covers, and accelerate the […]