{"id":882,"date":"2022-09-03T10:30:28","date_gmt":"2022-09-03T14:30:28","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=882"},"modified":"2022-09-02T12:36:54","modified_gmt":"2022-09-02T16:36:54","slug":"3-things-09-02-2022","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-09-02-2022\/","title":{"rendered":"3 Things – Auto Developments, Hippo Moves & Friends"},"content":{"rendered":"

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Hello Friends!\u00a0 It is time for Labor Day Weekend, hope all are enjoying this long holiday weekend and the unofficial end of summer.\u00a0 Only 3 weeks until ITC 2022 so look for us to be in attendance again this year.\u00a0 This week we are following opportunities in auto insurance, Hippo moves and getting a little help from our friends who we always learn from:<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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New Opportunities In Auto<\/strong><\/p>\n

It was a slow summer for fundraising and the predominate theme for auto insurance has been headwinds caused by macro trends including inflation.\u00a0 So, it was notable this week to see a commercial fleet startup\u00a0Fairmatic<\/a>\u00a0raise $42M<\/a>\u00a0in a Series A.\u00a0 This new entity was founded by the founder of driving analytics company Zendrive and has other notable executives leading the company.\u00a0 They will leverage their existing data built on 200 million driving miles and AI models to insure fleets.\u00a0 Elsewhere, fintech player Buckle announced a\u00a0partnership with an auto MGA<\/a>.\u00a0 InsureScan is a specialist MGA and will offer a new distribution channel for nonstandard auto products with a digital application process.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Hippo Moves\u00a0<\/strong><\/p>\n

Hippo made moves this week.\u00a0 They have\u00a0eliminated 10% of their entire headcount<\/a>\u00a0including their COO\/CIO.\u00a0 This the latest in a series of actions to shore up their financial position and will help to reduce costs as they seek to improve underwriting profitability.\u00a0 Another move they hope to help is the reverse stock split which was\u00a0overwhelmingly approved<\/a>\u00a0this week by shareholders.\u00a0 Like ROOT, they were trying to pull off this reserve split to get their stock price above $1.\u00a0 This will lower the number of shares but may not reverse the downward trend in price.<\/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 Little Help From My Friends ..\u00a0<\/strong><\/p>\n

So, for our last thing of the week, I will rely on a little help from my friends.\u00a0 First off, Ian released\u00a0part 2 of his blog<\/a>\u00a0that I featured as a bonus in the LinkedIn version of this post last week.\u00a0 He explores how an insurance broker would collapse, quite interesting.\u00a0 Finally, while maybe not quite a ‘friend’ someone that is worth following,\u00a0Matteo Carbone<\/a>\u00a0provides analysis about\u00a0recent insurtech results<\/a>\u00a0and what the prospects look like for them to survive.\u00a0 Hopefully, this mention will earn us his friendship.<\/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 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 is time for Labor Day Weekend, hope all are enjoying this<\/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 - Auto Developments, Hippo Moves & Friends - 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-09-02-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - Auto Developments, Hippo Moves & Friends - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hello Friends!\u00a0 It is time for Labor Day Weekend, hope all are enjoying this\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-09-02-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-03T14:30:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-02T16:36:54+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-09-02-2022\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-09-02-2022\/\",\"name\":\"3 Things - 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