The Theme this week is InsurTech doesn’t stop at borders. This indicates that InsurTech is truly a global trend.
The Insurtech Front Page Weekly CXO Briefing is all you need to know for the week, jargon free for executives, entrepreneurs and investors who want a piece of this huge, fast changing market. Each week we select one theme illustrated by 3 news items, because we know that you are busy. Our job is to filter out the noise, so you can read the signal. We bring you the raw news plus our take on why it is significant.
For this week we bring you three stories illustrating the theme of InsurTech doesn’t stop at borders
Story 1: Berlin Insurtech Startup Simplesurance Sets Sights on U.S. for Future Expansion
Extract, read more on Insurance Journal:
“Based on the edge of Berlin’s trendy Mitte district in bright, open offices, Simplesurance is yet another insurtech startup seeking to transform insurance. It is also eyeing the U.S. for future expansion.
Simplesurance began in 2012, employs more than 150 people, and its cross-selling software operates across Europe. E-commerce partners can sell insurance products by adding the option to purchase insurance for a device with just one click on the platform’s shopping basket. As well, Simplesurance now offers an insurance broker app in Germany.”
US is definitely a primary market for any companies who want to do a global business. And it’s time for Simplesurance.
Story 2: HCS Capital Deploys $3MM into Growing InsurTech Opportunity, Jooycar
Extract, read more on The VentureBeat:
“HCS Capital Partners (“HCS”) a Miami, FL based Private Equity and operating firm, announced today it has completed a $3mm investment in Jooycar, a fast growing Chilean company disrupting the auto insurance and telematics space in Latin America. This InsurTech investment marks the most recent for HCS, as they continue to deploy capital from their Tech Fund 1 into InsurTech and FinTech opportunities in the U.S. and South America.”
Jooycar is aiming to expand in US. The help from HCS should come in handy.
Story 3: Prima Italian Insurtech MGA Raises €100 Million from Goldman Sachs and Blackstone
Extract, read more on InsurTechnews:
“Goldman Sachs Private Capital Investing along with several funds managed by The Blackstone Group’s Tactical Opportunities have invested €100 mln in Prima Assicurazioni, a Milan-based InsurTech start-up that sells auto insurance.”
Prima’s action is only one of them in Italy. After Germany, UK and France, Italy can be another influential force in the InsurTech community.
Countries like United States, China, Germany have been leading the digitalization age in the 21st century. It’s good to see more voices in InsurTech. And the mature market in US can be a good place to test new InsurTech models.
Zarc Gin is an analyst for Warp Speed Fintech, a Fintech, especially InsurTech-focused Venture Capital based in China.
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