{"id":848,"date":"2022-06-04T10:30:28","date_gmt":"2022-06-04T14:30:28","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=848"},"modified":"2022-06-03T13:33:20","modified_gmt":"2022-06-03T17:33:20","slug":"3-things-06-03-2022","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/","title":{"rendered":"3 Things – Acrisure $23B, Foxen Emerges & Insurtech Slowing – 06\/03\/2022"},"content":{"rendered":"

\"\"<\/p>\n

\n
\n
\n\n\n\n
\n
\n
\n

Hello Friends!\u00a0 It was a short week and for those that worked it was probably packed but we are officially in June, the hurricane season has begun and the insurance industry hasn’t slowed down though we are all tuned to storm activity hoping everyone on the Gulf Coast of Florida is safe with the pending storm.\u00a0 This week we are following another Acrisure raise, the emergence of Foxen and more signs of an insurtech slowdown:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

\u00a0[1]<\/h2>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n\n\n\n
\n
\n
\n

Acrisure Valued at $23B<\/strong><\/p>\n

Acrisure started out the week announcing\u00a0a fresh capital raise of $725 million<\/a>\u00a0making their current valuation $23B.\u00a0 In just over 1 year they have increased their valuation from $14B when the last raised capital in March 2021.\u00a0 It is starting to make sense to compare them to the big brokers in terms of their market caps: AJG $34B, AON $58B, MMC $79B.\u00a0 It would appear they can continue on this growth trajectory with a tech forward approach and succession option for owners.\u00a0 Rising premiums for commercial lines including cyber also contribute to their growing revenue and profitabilty.\u00a0 They have plenty of capital to continue to remain acquisitive.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

\u00a0[2]<\/h2>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n\n\n\n
\n
\n
\n

Foxen Emerges As Fintech Player<\/strong><\/p>\n

Foxen, a financial technology solution provider for the real estate industry,\u00a0closed a $44M funding round<\/a>\u00a0this week.\u00a0 They are joining the growing list of financial services providers that offer financial wellness and include an insurance component.\u00a0 Their core offerings help property owners ensure the compliance of tenants with renters insurance requirements and renters an opportunity to buy insurance to comply.\u00a0 They will most certainly explore launching more products that would fit into this ecosystem with a large addressable market, the renting population of the US.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

\u00a0[3]<\/h2>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n\n\n\n
\n
\n
\n

More Signs of Insurtech Slowing<\/strong><\/p>\n

We have been seeing the slowdown of insurtech so far in 2022 and this week there were two more signs from notable companies that had been part of the landscape the past two years.\u00a0 Fresh off of a recent $125M capital raise in March, PolicyGenius is reported to have\u00a0laid off 25% of their workforce<\/a>, 170 employees.\u00a0 A pretty big correction in terms of staffing level and certainly a cost-cutting measure.\u00a0 If you have been attending insurtech events over the past few years you have probably heard of commercial lines provider Chisel AI, whose founder was ever-present at ITC and other events the past few years.\u00a0 They announced they are\u00a0shutting down<\/a>\u00a0due to macro conditions.\u00a0 The beginning of their announcement says it all … ‘Start-ups are hard.”\u00a0 We expect to continue to see these stories as the cooling market and other conditions will start to separate the winners and losers.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n\n\n\n
\n
\n
\n

Thank you for following us, we appreciate your feedback and continued support.\u00a0 Stay tuned for more info to come.\u00a0 Until next time… 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":"

Hello Friends!\u00a0 It was a short week and for those that worked it was<\/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 - Acrisure $23B, Foxen Emerges & Insurtech Slowing - 06\/03\/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-06-03-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Acrisure $23B, Foxen Emerges & Insurtech Slowing - 06\/03\/2022 - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hello Friends!\u00a0 It was a short week and for those that worked it was\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-04T14:30:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-03T17:33:20+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=\"3 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-06-03-2022\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/\",\"name\":\"3 Things - Acrisure $23B, Foxen Emerges & Insurtech Slowing - 06\/03\/2022 - Wikifri\",\"isPartOf\":{\"@id\":\"https:\/\/www.wikifri.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png\",\"datePublished\":\"2022-06-04T14:30:28+00:00\",\"dateModified\":\"2022-06-03T17:33:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#primaryimage\",\"url\":\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png\",\"contentUrl\":\"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png\",\"width\":1200,\"height\":627},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.wikifri.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"3 Things – Acrisure $23B, Foxen Emerges & Insurtech Slowing – 06\/03\/2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.wikifri.com\/#website\",\"url\":\"https:\/\/www.wikifri.com\/\",\"name\":\"Wikifri\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.wikifri.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa\",\"name\":\"Nick Coenen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.wikifri.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g\",\"caption\":\"Nick Coenen\"},\"url\":\"https:\/\/www.wikifri.com\/author\/nickc\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"3 Things - Acrisure $23B, Foxen Emerges & Insurtech Slowing - 06\/03\/2022 - Wikifri","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/","og_locale":"en_US","og_type":"article","og_title":"3 Things - Acrisure $23B, Foxen Emerges & Insurtech Slowing - 06\/03\/2022 - Wikifri","og_description":"Hello Friends!\u00a0 It was a short week and for those that worked it was","og_url":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/","og_site_name":"Wikifri","article_published_time":"2022-06-04T14:30:28+00:00","article_modified_time":"2022-06-03T17:33:20+00:00","og_image":[{"url":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png"}],"author":"Nick Coenen","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Nick Coenen","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/","url":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/","name":"3 Things - Acrisure $23B, Foxen Emerges & Insurtech Slowing - 06\/03\/2022 - Wikifri","isPartOf":{"@id":"https:\/\/www.wikifri.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things-300x157.png","datePublished":"2022-06-04T14:30:28+00:00","dateModified":"2022-06-03T17:33:20+00:00","author":{"@id":"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa"},"breadcrumb":{"@id":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.wikifri.com\/3-things-06-03-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#primaryimage","url":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png","contentUrl":"https:\/\/www.wikifri.com\/wp-content\/uploads\/2021\/04\/Three-Things.png","width":1200,"height":627},{"@type":"BreadcrumbList","@id":"https:\/\/www.wikifri.com\/3-things-06-03-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.wikifri.com\/"},{"@type":"ListItem","position":2,"name":"3 Things – Acrisure $23B, Foxen Emerges & Insurtech Slowing – 06\/03\/2022"}]},{"@type":"WebSite","@id":"https:\/\/www.wikifri.com\/#website","url":"https:\/\/www.wikifri.com\/","name":"Wikifri","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.wikifri.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.wikifri.com\/#\/schema\/person\/75ab87b680160989e5b14d7bc3b380aa","name":"Nick Coenen","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wikifri.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6dcb63dc6a3520b81be1123dfa02d627?s=96&d=mm&r=g","caption":"Nick Coenen"},"url":"https:\/\/www.wikifri.com\/author\/nickc\/"}]}},"_links":{"self":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts\/848"}],"collection":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/comments?post=848"}],"version-history":[{"count":1,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts\/848\/revisions"}],"predecessor-version":[{"id":849,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/posts\/848\/revisions\/849"}],"wp:attachment":[{"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/media?parent=848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/categories?post=848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wikifri.com\/wp-json\/wp\/v2\/tags?post=848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}