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Hi All! This week we are following Cyber Meet at White House, DealerPolicy Raise & Pie Insurance evolution. Here are the three things we learned this week: |
[1] |
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Insurance Leaders Go To Washington The White House held a cyber security summit and several insurance executives in attendance had optimistic comments about the productivity of the session and involvement of the POTUS. It sounds like all organizations have to focus on tightening cyber security, technology providers will help them and insurers will serve as the backstop to indemnify the risk. This is still a major area of uncertainty but with the cooperation of the community there is hope that they can effectively manage the risk. |
[2] |
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DealerPolicy Raises $110M Embedded auto insurer DealerPolicy completed a significant series C raise this week. They focus on F&I products at the point-of-sale for autos but also provide a marketplace to shop for auto comparison quotes. Coverager provides an interesting analysis on how other embedded offerings work and appear to be more successful when a ‘choice model’ is offered compared to the recently announced Root / Carvana partnership. |
[3] |
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Pie Insurance Goes Full Stack Pie Insurance the insurtech commercial startup, was approved to acquire a shell to take a step toward to the their strategy of becoming a full stack carrier. This is an important strategy for them and most other insurtechs to have more control of their future. They will use the capability to write their own policies and further control the experience. |
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