Copy
Q&A: Cape Analytics. insurance startup accelerators. This week in insurance tech. 

Property vision


Hi there,

Interesting to observe a number of startups in the insurance space go through multiple accelerator programs. 

Are there any clear upsides to this or is this largely a waste of time? Reply back to this email with your thoughts and we'll publish a few next week.

Zhong An IPO?

Last August, China's first online insurer Zhong An Insurance launched a health insurance offering. This week, Zhong An said it counts 310,000 policyholders for its medical insurance offering "bought mainly by those aged 20-50 for coverage of up to CNY2 million."

The move looks to be part of a broader push to diversify its product line. Zhong An's original product, shipping returns insurance for Alibaba's Taobao marketplace, accounted for 77% of its overall premiums in 2014. 

In related news, Chinese regulators are reportedly considering fast-tracking a select number of tech companies, including Zhong An, to list their shares in Shanghai or Shenzhen. Zhong An said it was turning its back on a US or Hong Kong listing in December.

Q&A: Ryan Kottenstette, Cape Analytics

This week, Cape Analytics announced a partnership with NearMap to give the startup full access to NearMap’s US aerial imagery library. Cape Analytics, which raised $14M last October, uses computer vision and machine learning on geospatial imagery to generate structured property data for insurers and reinsurers.

We caught up with CEO Ryan Kottenstette to hear his thoughts on property inspections, advances in the remote imaging market, and whether some insurers will be left behind when it comes to tech adoption.

Read the full Q&A on CB Insights.

Have a great rest of the week,

Matt
@mlcwong

P.S. CB Insights will be presenting at LendIt in New York next Monday. If you'll be at the conference and want to say hi, let us know.

Q&A: Cape Analytics

A conversation with Cape Analytics CEO Ryan Kottenstette on its new partnership, the future of property inspections and more. Read the Q&A.

Tweet this

Digital health funding sees record year in 2016

Global equity funding to private digital health startups grew for the 7th straight year in 2016, hitting a high of $6.6B. See the data.

Tweet this

This Week in Insurance Tech 

A curated mix of recent articles on insurance tech financings, exits, hiring, product launches, partnerships, and perspectives.

Deals

PolicyPal raises seed funding from 500 Startups. The Singapore-based startup provides an app to manage and add insurance policies.
e27


M&A

Advent acquires CCC Information Services. TPG and Leonard Green were earlier reported to be attempting to sell the software provider for collision repairers, insurance companies and parts suppliers at a price of $3B
Body Shop Business

Verisk acquires Emergent Network Intelligence and Fintellix. UK-based ENI provides insurance claims efficiency and fraud detection solutions. India-based data management and regulatory reporting platform Fintellix will become part of Verisk's Argus business.
Insurance Journal; NJ Biz

Company & Insurer News

Zhong An's new health product counts 310K policyholders. The Chinese online insurer launched its mid-range health insurance offering last August.
Asia Insurance Review

Baloise partners with Anthemis. The Swiss insurer has committed $50M to Anthemis to invest in insurance tech startups in the US and Europe.
Reuters

Oscar lost $204.9M in 2016. The health insurer is moving to sell health insurance to small businesses in New York and California.
Bloomberg

Cape Analytics partners with NearMap. The partnership will give Cape Analytics unlimited access to Nearmap aerial imagery of U.S. property locations.
Cape Analytics

FinanceFox expands to Austria. 
The insurance brokerage platform also announced it was rebranding as WeFox.
Procontra

Revenue up 11% in Moneysupermarket's insurance business. The insurance division generated £155.2M in 2016, but warned that revenues in 2017 were running below last year's levels.
Insurance Age; BBC

ETMoney partners with HDFC Life to launch new term life policy. The Times Internet-backed personal finance app claims the policy is India's first term life plan based on user spend patterns.
ET Tech


Blog posts & articles

Insurance and the big data revolution. The FT's Oliver Ralph on the future of the risk management industry.
FT

Health insurers hope for nothing. "For health insurers, gridlock might be exactly what investors need."
WSJ

State Farm profit plunges on $7B auto underwriting loss. Annual profit fell 94% on car insurance claims costs at the largest US P&C insurer.
Bloomberg

 
If you loved this newsletter, send it to a friend.
If you hated it, send it to an enemy.
All the data in this newsletter comes from CB Insights. Join NEA, Cisco & hundreds of other clients and get access to the industry's best private company data.

Sign up for access.
Copyright © 2017 CB Insights, All rights reserved.
498 7th ave, 17th floor, New York, NY 10018