Latest news with #Insurtech
Entrepreneur
12 hours ago
- Business
- Entrepreneur
RenewBuy Secures USD 10 Mn in Fresh Funding
The funds will be used to support ongoing business operations and expansion efforts as the company moves closer to its proposed merger with rival InsuranceDekho. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Insurtech firm RenewBuy has raised USD 10 million (approximately INR 86 crore) in fresh funding from its existing backers, Apis Partners and 360 One (formerly IIFL Wealth). The funds will be used to support ongoing business operations and expansion efforts as the company moves closer to its proposed merger with rival InsuranceDekho. The merger, first reported in October 2024, is expected to value RenewBuy at USD 300–350 million, potentially creating a billion-dollar insurance broking entity in India. The deal is currently pending approval from the Insurance Regulatory and Development Authority of India (IRDAI). According to filings with the Registrar of Companies, the recent capital infusion includes INR 45 crore (USD 5 million) from Apis and individual investors such as Gaurav Deepak, Gauri Taneja, Sanjay Kaul, and Derrik Roshan Dsouza. Founded in 2014, Gurugram-based RenewBuy offers motor, health, and life insurance products through a widespread point-of-sale agent network. In July 2023, it had secured USD 40 million in Series D funding from Dai-ichi Life Holdings Inc. Financially, RenewBuy posted revenues of INR 410 crore in FY24, up from INR 287 crore in FY23, while reducing its net losses to INR 114 crore from INR 197 crore in the previous fiscal. The fresh funding is expected to bolster its growth as it prepares for one of the biggest mergers in the sector.
Yahoo
3 days ago
- Business
- Yahoo
Companjon is a top AI innovator, an AIFintech100 company for the second consecutive year
The market leader in Cancel for Any Reason in the EEA region is a top 100 insurtech innovator for the second year running. AI-powered Dynamic Product & Pricing Engine delivers hyper-personalised protection and unlocks 25% M-o-M growth. Newly launched Companjon One API gives partners access to all insurance products and developments through a single connection. DUBLIN, June 18, 2025 (GLOBE NEWSWIRE) -- Companjon, the market-leading Insurtech+, is an AIFintech100 company for the second year in a row. The award acknowledges Companjon's pioneering work in building AI-powered insurance solutions that scale across industries and geographies. The core of Companjon's innovation is the company's Dynamic Product & Pricing Engine, which uses AI and machine learning to analyse up to a billion data points per quote to offer hyper-personalised products to customers. By leveraging AI/ML technologies, Companjon is able to unlock a sustainable, 25% growth month over month. It also uses sophisticated AI models and automation for fast and precise claim handling. This year's recognition also highlights 'Companjon One API', a recent innovation that delivers all Companjon insurance products, updates, and testing capabilities through a single, simplified connection. By reducing integration complexity and cost, One API allows partners to embed insurance into their international products more easily than ever before. With these technologies, Companjon became a market leader in Cancel for Any Reason insurance in the EEA region and delivered over 400 million transactions year-to-date. Companjon CEO, Matthias Naumann, said: 'Being an AIFintech100 again is a strong signal that our approach is working. From our Dynamic Product & Pricing Engine to the newly launched Companjon One API, everything we build is designed to make the lives of our partners easier. That's how we stay ahead in embedded insurance, and why our partners see measurable gains in revenue and customer experience. These innovations also enable us to unlock outstanding growth and stay market leaders in CFAR in the EEA.' FinTech Global CEO, Richard Sachar, said: 'We applaud Companjon for being an AIFinTech100 company for a second year in a row. Their continued leadership in AI-powered, embedded insurance is redefining how financial services deliver value. Companjon continues to push boundaries with scalable, dynamic products that create real value for businesses and customers at the same time. We look forward to seeing what they achieve next, and how they will transform the insurtech space even further with the introduction of the Companjon One API.' About Companjon Companjon is a leading B2B2C Insurtech start-up specialising in fully digital, AI-driven embedded insurance. Its modern, end-to-end insurance solutions enable companies to delight their customers and drive more business value from stronger brand loyalty and new ancillary revenue opportunities. Companjon designs, builds, and underwrites its dynamic solutions on a 100% cloud-based platform capable of issuing 32,000 policies per second. They also introduced 'Companjon One API', which can deliver all their products and AI capabilities through a simplified connection. It has been recognised as one of the World's Top Insurtech Companies 2024 by CNBC and one of the world's most innovative insurtechs by FinTech Global for four consecutive years (2021-2024). Companjon seeks to change the way people think about insurance by creating seamless and positive experiences when things don't go as planned: being right there when 'life' happens. The company is registered in Ireland and regulated by the Central Bank of Ireland. Media Contact:Simone Vottari+353 86 032 4630press@ in to access your portfolio
Business Standard
11-06-2025
- Business
- Business Standard
Digitide Solutions, Bluspring Enterprises debut after Quess Corp demerger
Shares of Digitide Solutions and Bluspring Enterprises were listed on the NSE and BSE today, 11 June 2025, following their demerger from Quess Corp. Digitide Solutions opened at Rs 245 per share on the BSE, while Bluspring Enterprises listed at Rs 86.95. Meanwhile, Quess Corp shares slipped 1.23% to trade at Rs 316.55. The demerger forms part of Quess Corps broader restructuring strategy, aimed at sharpening business focus and unlocking shareholder value. Under this realignment, the company has split its operations into three standalone verticals. Quess Corp will continue to house Indias largest workforce management company with a headcount of over 5 lakh and a footprint across 9 countries. Digitide Solutions will offer a comprehensive suite of solutions including BPM Services, Insurtech and HRO. With operations across 30 countries and delivery centres in Manila and India, it is well-positioned to capitalize on emerging BPM opportunities across diverse sectors. Digitide will leverage AI-driven technology to enable businesses in transforming data into enterprise power, provide real-time insights, automation, and scalability. Bluspring Enterprises will be an infra services company operating primarily in the areas of facility management, food services, security services, industrial and telecom infrastructure maintenance. Additionally, foundit - an AI driven white-collar job portal and candidate services platform, will be part of Bluspring Enterprises. In accordance with the demerger terms, shareholders received one share each in Digitide and Bluspring for every share held in Quess Corp. The move is intended to simplify the groups structure, giving each business the independence to pursue sector-specific strategies and scale their operations more efficiently. With clearly defined roles and leadership, the three entities are now positioned to address their respective markets with greater agility and focus.
Yahoo
11-06-2025
- Business
- Yahoo
Markel launches InsurtechRisk+ product for insurtech businesses
LONDON, June 11, 2025 /PRNewswire/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the launch of its InsurtechRisk+ product for insurtech businesses. The InsurtechRisk+ package contains four insuring clauses – insurance services and technology liability, directors and officers (D&O) liability, crime, and cyber liability and loss cover, which offer protection for UK, Europe, Australia, Asia and Canada domiciled businesses with limits up to GBP £10 million. Akin to the organisation's existing FintechRisk+ product, insureds taking out InsurtechRisk+ will have access to various value-add services, including: 24/7 business, legal and employment advice; R&D tax advisory; debt recovery support; grant and funding assistance; contract reviews and a cyber risk toolkit, which are free to use anytime during the policy. The four insuring clauses, combined with these value-add risk management services, will help insurtech businesses navigate the complex landscape of cyber threats, crime and financial liabilities. Markel's offering avoids the risk of having gaps in cover through having different policies with multiple insurers, providing a cost-effective, 'one-stop-shop' solution for clients so that they can concentrate on growing their businesses. Nick Rugg, Head of Fintech and Investment Management Insurance at Markel, commented: "The cyber risk landscape has evolved since we launched our first Insurtech policy, with the emergence of more advanced attacks from threat actors utilising AI tools/technology to infiltrate company networks, impersonate senior personnel and steal confidential data and funds." He expands: "Our newly created InsurtechRisk+ policy provides superior cover, reflecting the many cyber exposures that insurtech companies face today and our continued dedication to providing bespoke risk management and transfer solutions for our insurtech/fintech insureds, backed by an award-winning claims team. "Another key goal in launching InsurtechRisk+ is to offer best-in-class cover alongside risk management solutions that go beyond typical post-loss assistance for policyholders. We want to disrupt traditional insurance products as well as how customers view the role of the insurer as only helping clients after an incident has taken place." Rugg concludes: "I'm looking forward to rolling out this cover for our insurtech businesses, together with the value-add services that have been tailored with their needs in mind." About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. View original content to download multimedia: SOURCE Markel Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Globe and Mail
28-05-2025
- Business
- Globe and Mail
InsuraGuest Reports 15% Gross Margin Growth and 54% Reduction in Net Loss Year-Over-Year
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) - InsuraGuest Technologies, Inc.® (TSXV: ISGI) (OTCQB: ISGIF) ("InsuraGuest" or the "Company"), a leading innovator in the Insurtech space, has announced its financial results for the nine months ended March 31, 2025, highlighting significant growth and improved financial efficiency. The Company achieved a 15% year-over-year increase in gross margin dollars driven by a $47,476 boost in revenue and an improvement in gross margin percentage from 61% to 65.8%. The expansion of vacation rental properties and a full nine months of revenue from our newest customer contributed to this upward trend. Additionally, strategic cost management efforts led to a 54% reduction in comprehensive loss, decreasing from $379,720 to $174,731. "We continue to expand our vacation rental portfolio and enhance our insurtech solutions," says President Reed Wright. "Our technology stack and products are increasingly recognized as industry leaders in the vacation rental, hotel, and events sectors, fueling revenue growth and driving us towards profitability." About InsuraGuest Technologies Inc. Harnessing the Power of Technology to Reinvent Insurance InsuraGuest Technologies (TSXV: ISGI) (OTCQB: ISGIF) is an innovative Insurtech company delivering insurance and warranty coverages to vacation rentals, hotels, resorts, and ticketed events. The Company offers tech-driven risk management solutions in the hospitality sector and continues to expand its offerings to meet market demands. CA / LIC: 6001686 For more information, visit the company's website at: The Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. There is no assurance that this new business product offering or other planned products will be successful. The insurance and hospitality industries face increasing, and every-changing governmental regulation. The insurance industry is intensely competitive, and the Company's competitors have significantly more resources than the Company. Acceptance by potential customers is difficult to predict, particularly in the case of new products and disruptive technologies. If the Company fails to achieve market acceptance, this will significantly impact its results and financial resources. Achieving market acceptance may require advertising budgets that exceed the Company's current resources and require the Company to seek additional debt or equity financing. There is no assurance that such financing will be available at reasonable prices or at all.
