This week in insurance we are following a funding round, new product launch and predictions for the upcoming New Year. Here are the three things we learned this week:
- A company we have come across B3i has closed a significant series B round of investment. They have support from insurers to help solve an age-old issue of billing & collections using blockchain technology. This has potential to be a breakthrough if they continue to receive funding and support from major players in the industry.
- Credit Karma launches Karma Drive in partnership with Progressive and Zendrive. The consumer finance company with a large user base is a great market to distribute usage-based auto insurance. The combination of these major players (consumer finance, experienced auto insurer and telematics) will be a force to be reckoned with in auto insurance. Here are more insights via one of our favorite blogs on the future of personal lines distribution.
- Lastly we, like many of you, have been reflecting on the year that was and more likely looking forward to the upcoming future. Insurance is an enduring business with a bright future. Insurtech and innovation will continue to be worth watching here is a list of predictions for 2021.
We appreciate you following Wikifri and your support during 2020. ‘Three Things’ will be on hiatus for the next two weeks as we all celebrate holidays and enjoy turning the page to 2021. Wherever you are, we hope you are able to pause to celebrate and enjoy your family and loved ones. We look forward to continuing these updates and more in the New Year.