{"id":982,"date":"2023-03-18T12:00:41","date_gmt":"2023-03-18T16:00:41","guid":{"rendered":"https:\/\/www.wikifri.com\/?p=982"},"modified":"2023-03-17T17:26:36","modified_gmt":"2023-03-17T21:26:36","slug":"3-things-03172023","status":"publish","type":"post","link":"https:\/\/www.wikifri.com\/3-things-03172023\/","title":{"rendered":"3 Things – SVB Aftermath, Fairmatic $46M, Acquisition & Launches"},"content":{"rendered":"

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Hello Friends!\u00a0 This week we look at the aftermath of the SVB collapse for insurance, an AI-powered commercial auto fundraise and acquisitions and launches from insurtechs.\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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Insurance Aftermath of SVB Collapse<\/p>\n

Last Friday was unsettling for many of us with the news of the SVB collapse.\u00a0 This week we learned a lot about how this will affect the insurance industry.\u00a0 While it appears that deposits and creditors will be made whole, the first place to look for trouble was in startup carriers.\u00a0 Already on shaky financial footing would this further weaken them?\u00a0 Luckily, most had\u00a0minimal exposure<\/a>\u00a0Root and Lemonade both largely unaffected.\u00a0 Bamboo’s CEO got ahead of the concern with\u00a0good communications<\/a>.\u00a0 Hippo continues to appear strong, announcing a\u00a0$50M stock repurchase<\/a>, returning capital to investors, no mention of SVB ties.\u00a0 Another focus was in the\u00a0D&O insurance market<\/a>.\u00a0 There was potential for a spike in claims had the government not decided to help depositors.\u00a0 For D&O insureds, this event ‘highlights the critical important of enterprise risk management, asset\/liability management and liquidity profiles”.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Fairmatic Raises $46M, Telematics Momentum<\/p>\n

Fairmatic a commercial auto focused AI-power insurer, announced a\u00a0Series B fundraise of $46M<\/a>.\u00a0 This brings their total raised to $88M.\u00a0 They have a couple of interesting insurance figures involved including former Guidewire CEO Marcus Ryu’s venture shop Battery and former Zendrive CEO who states they are ‘creating a new commercial auto insurance category’.\u00a0 It is also notable to see this amount of funding as venture capital investment has slowed so far this year.\u00a0 There is still\u00a0appetite for investment<\/a>\u00a0in ‘good’ insurtechs.\u00a0 Our friend Matteo wrote an\u00a0insightful post<\/a>\u00a0this week providing facts & figures about the opportunity in auto telematics featuring information we posted a couple of weeks back from Progressive.\u00a0 The telematics strategy and technology needs to be applied intentionally in the future of auto insurance.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

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Acquisitions and Launches<\/p>\n

Cover Genius, an insurtech for embedded protection, picked up the assets of a distressed warranty provider\u00a0Clyde Technologies<\/a>.\u00a0 Clyde has many name brand merchant partners and technology that will help Cover Genius with a profitable warranty product at the point of sale.\u00a0\u00a0VIU launches pet insurance with Fetch<\/a>, their 6th affinity partnership in their first 9 months of existence.\u00a0 Fetch conducted a pet owner survey that told them 42%\u00a0 of respondents could not afford a surprise vet bill.\u00a0 The unique offering will feature predictive health technology to help pet owners with this concern.\u00a0 Coalition enters the\u00a0excess cyber market in the UK<\/a>.\u00a0 They now offer coverage of up to $12.1 M above primary layer from another carrier, building on excess cyber products started in US 2020 and Canada 2021.\u00a0 Expansion into Australia is next up.<\/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. \u00a0Stay productive, stay safe and stay in touch!<\/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 This week we look at the aftermath of the SVB collapse for<\/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 - SVB Aftermath, Fairmatic $46M, Acquisition & Launches - 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-03172023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Things - SVB Aftermath, Fairmatic $46M, Acquisition & Launches - Wikifri\" \/>\n<meta property=\"og:description\" content=\"Hello Friends!\u00a0 This week we look at the aftermath of the SVB collapse for\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wikifri.com\/3-things-03172023\/\" \/>\n<meta property=\"og:site_name\" content=\"Wikifri\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-18T16:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-17T21:26:36+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-03172023\/\",\"url\":\"https:\/\/www.wikifri.com\/3-things-03172023\/\",\"name\":\"3 Things - 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