This week while there are still tropical storms making landfall and COVID spiking around the country we salute our veterans and learn from the happenings in insurance including, acquisitions and earnings announcements:
- Brown & Brown announces acquisition of CoverHound. Continuing a trend of an established insurance entity acquiring a digital startup. We are seeing this as moves by the established to speed up their digital transformation but also get a more lofty valuation for themselves, like other insurtech unicorns.
- Lemonade issues Q3 earnings letter to shareholders. There are several highlights including their improving loss ratio, new products life and auto, revenue change because of new reinsurance arrangements and plans to expand to France. Product and geographical expansion along with improving loss ratio are keys to their success. Also of interest, a comparison to Tesla and Shopify from an investor point-of-view.
- Insurity continues acquiring, this week it is CodeObjects. Further adding to their portfolio of solutions with an offering that focuses on personal lines. It would seem they now have a point solution for just about everyone but it may be a challenge to rationalize the growing portfolio.
We hope everyone is safe and healthy and look forward to keeping in touch with more insights and updates.