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Hi All! This week in insurance we are following Allstate consolidating, Kin raise and Customer feedback. Here are the three things we learned this week: |
[1] |
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Allstate Consolidating Allstate announced it is acquiring SafeAuto, a direct minimum limits auto insurer, through another recent acquisition National General. The pattern of mega insurers acquiring specialist companies will continue and we will expect to see more similar deals |
[2] |
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Kin Raises $69.2M Kin, the home insurtech, announced they closed a large Series C round including celebrity golfer Rory McIlroy’s venture vehicle. Not sure what this means for the rumors of their SPAC IPO, as they may put off for awhile until the market volatility calms down. SPACs that were once a popular vehicle for all types of companies to go public have cooled off lately. |
[3] |
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Customer Feedback J.D. Power recently released a series of reports on the state of customer interaction in insurance. The report on digital experience found that the overall customer experience score for digital shopping fell to a low level. As the world reopens and we move on from COVID the focus will continue to be on enhancing customer engagement and the digital experience. |
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Thank you for following us, we appreciate your feedback and continued support. Stay productive, stay safe and stay in touch! |