Weekly News Roundup – 13th August
It may be summer but that doesn’t mean things are slowing down for the insurance industry. There’s been new partnerships, new IPOs and new projects flying around all over the place! Make sure you catch up on the action here…
Insurtech unicorn Hippo Insurance goes public through $5b SPAC merger (Source: Built in Austin)
They are not the first and they won’t be the last to go public through a SPAC merger but Hippo have certainly come far from their humble beginnings in 2015.
Lloyds launches faster claims payment pilot (Source: Insurtech Insights)
The speed of claims payment is an ongoing industry headache but Lloyds hopes to “gather critical learnings and feedback” with this project.
Embedded insurance: the new hot topic (Source: Insurance Thought Leadership)
The recent Instech London Report forecasts that the embedded insurance market will hit $77b in GWP by 2030.
Amazon reveals massive insurance partnership (Source: Insurance Business Magazine USA)
Small business owners in the US can now get product liability products via Amazon.
Global economic losses hit £56bn in H1 2021 – Swiss Re (Source: Insurance Today)
The insurer reveals that “natural catastrophe losses accounted for 95% of the insured losses, the other 5% were man made”.