3 Things – Willis Insurtech Briefing, Q3 Earnings & Acko a new ‘Unicorn’ – 10/30/2021

Hi All!  This week we are following the Willis Insurtech Briefing, Q3 Earnings and Acko a new ‘unicorn’.  Here are the three things we learned:


Insurtech Funding Narrows Focus

Always a good report on the trends in insurtech venture investing, this week’s Q3 Willis Briefing, highlights that the total amount of funds raised is lower than last quarter’s record.   It is still high but funding is going to fewer companies.  Trends like Cyber and embedded distribution offerings are attracting most of the dollars.  It was only a matter of time until this focus would start happening.


Q3 Earnings Continue, More of the Same

More earnings reports came in this week.  Chubb, usually the bellweather of the industry, reports record per-share net income.  Commercial lines growth led the way but they look strong in most areas and have a P&C combined ratio of 93.4%.  Results were also posted by ArchEverestBrown & BrownThe Hartford and others.  Catastrophe losses dented some of the otherwise strong underwriting and investment results.  Rising employment and technology costs were also a theme, but overall the industry continues to march towards the end of a strong year.


Acko Insurance, Another Unicorn

Acko, an India-based digital insurer providing car & taxi among other micro insurance products, raised $255M this week to give itself ‘unicorn’ status (valuation over $1B).  They plan to use the fresh capital to broaden and enhance A&H products and appear to have a huge addressable market of gig workers and others in the country where only 3% of the population has current insurance coverage.

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