{"id":810,"date":"2022-03-05T16:00:33","date_gmt":"2022-03-05T21:00:33","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=810"},"modified":"2022-03-04T16:05:20","modified_gmt":"2022-03-04T21:05:20","slug":"3-things-03-04-2022","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-03-04-2022\/","title":{"rendered":"3 Things – Insureon Acquired, Kin Raises & Digital Insurer P\/E Valuations drop – 03\/04\/2022"},"content":{"rendered":"

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Greetings Friends.\u00a0 It was another busy week in insurance with news galore.\u00a0 Again tough to fit into our usual form but we are following mostly insurtech this week as the traditional industry just plugs along the usual.\u00a0 Here are the three things we learned:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Insureon Acquired by HUB & Bold Penguin<\/strong><\/p>\n

Small commercial digital broker Insureon was\u00a0acquired<\/a>\u00a0by traditional broker HUB International and Bold Penguin.\u00a0 HUB will receive the agency portion of the business with it’s clientele and appointments.\u00a0 This type of acquisition is typical for HUB and they will add to their footprint and digital experience capabilities.\u00a0 Bold Penguin will receive the technology staff and assets providing an opportunity to rationalize and integrate into their existing technology.\u00a0 Overall, insurtechs appear to be exiting to incumbent insurers, remember that Bold Penguin is American Family.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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After Cancelling SPAC IPO, Kin Raises $82M<\/strong><\/p>\n

Kin Insurance appears to have timed the market right, something most investors know is difficult if not impossible to do.\u00a0 After cancelling their planned SPAC IPO in January they were able to\u00a0close a Series D round valued at $82M<\/a>.\u00a0 That brings their total to $238M.\u00a0 So, they seem to be well capitalized and can avoid the pitfalls of public insurtechs who have shed much of their value in the current bear market.\u00a0 They still have a tough problem to solve, underwriting in the risky homeowners segment and generating a profit.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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A FinTech Almanac<\/strong><\/p>\n

Do you ever lose track of all the deal-making, earnings and valuation stories in insurtech?\u00a0 We do our best here to keep you informed but still miss things.\u00a0 Financial Technology Partners, an investment bank focused exclusively on FinTech, released\u00a0a report<\/a>\u00a0with a trove of good information to flip through.\u00a0 Most interesting pages start at #20 and go through various metrics.\u00a0 Digital insurance carriers price \/ earnings multiples went from 74.6x to 33.3x from 2021 to 2022.\u00a0 Worth following their content which appears to be mostly without fee.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Thank you for following us, we appreciate your feedback and continued support.\u00a0 Stay tuned for more info to come.\u00a0 Until next week… stay safe, stay productive!<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Greetings Friends.\u00a0 It was another busy week in insurance with news galore.\u00a0 Again tough<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n3 Things - Insureon Acquired, Kin Raises & Digital Insurer P\/E Valuations drop - 03\/04\/2022 - Wikifri<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wikifri.com\/3-things-03-04-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Insureon Acquired, Kin Raises & Digital Insurer P\/E Valuations drop - 03\/04\/2022 - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Greetings Friends.\u00a0 It was another busy week in insurance with news galore.\u00a0 Again tough\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-03-04-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-05T21:00:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T21:05:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\" \/>\n<meta name=\"author\" content=\"Nick Coenen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Coenen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-03-04-2022\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-03-04-2022\/\",\"name\":\"3 Things - 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