Israeli-Founded InsurTech Startup Lemonade Raises $300M, With Valuation at Reported $2B

Israeli-founded, NY-based insurance startup Lemonade has raised $300 million in a Series D funding round led by Japan’s Softbank Group …

Israeli-founded, NY-based insurance startup Lemonade has raised $300 million in a Series D funding round led by Japan’s Softbank Group Corporation, with participation from Allianz, General Catalyst, GV, OurCrowd and Thrive Capital. Forbes reported that a source said the investment now brings Lemonade’s value to over $2 billion

Lemonade uses behavioral economics, artificial intelligence and chatbots to deliver renters and homeowners insurance policies and handle claims quickly for users in nearly two dozen states across the US. It offers renters insurance starting at $5 per month, and homeowners insurance starting at $25 per month.

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The latest funding round brings total financing for Lemonade to $480 million.

The investment is set to help Lemonade expand beyond the US, with sights set on Europe where it operates its local HQ in Amsterdam.

The company was founded in 2015 by veteran Israeli tech entrepreneurs CEO Daniel Schreiber, former president of Powermat, and president and CTO Shai Winniger, a co-founder of Fiverr.com.

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Google’s Gradient Ventures invests in AI insurance underwriting startup Flyreel

And New York-based Lemonade has raised vast swathes of cash — including from Gradient Ventures’ sister VC firm GV (formerly Google Ventures) …

Artificial intelligence (AI) is infiltrating just about every industry, and insurance, it seems, is no different.

Flyreel, a Denver, Colorado-based startup that claims to have “the most advanced” AI product for property insurance underwriters, has today announced it has raised $3.85 million in a round of funding led by Google’s Gradient Ventures, with participation from State Auto Insurance Companies’ VC arm State Auto Labs and Donan Forensic Engineering.

Founded in 2016, Flyreel offers a smart digital assistant that guides policyholders through property inspections using the camera on their smartphone. The “policyholder” in this instance could be the owner or tenant of a residential or commercial property, or it may be a designated third party such as an agent who is acting on behalf of the policyholder.

Through a dedicated mobile app, the user pans their device across a property, and Flyreel’s computer vision smarts automatically identifies and records features, contents, and other details relevant to a policy.

Above: Flyreel app

The digital assistant also converses with the user, telling them where to go, for example, and asks them to carry out tasks to prove that they are at the property.

Above: Flyreel: Digital assistant

The data captured from the app then links in with a carrier-specific dashboard, or is otherwise integrated into the carriers’ individual policy systems.

Flyreel’s technology is hosted on Microsoft’s Azure cloud platform.

Self-inspect

At its core, Flyreel is designed to enable self-inspections at scale, and to negate the need for professional inspectors to attend to inspections in person. Indeed, many properties are valued based on averages rather than physical inspections, which may mean some properties are over- or under-valued. And this affects the premiums a customer pays.

“Flyreel’s unique technology and artificial intelligence capabilities allow carriers to increase the scale of our property inspections, while at the same time, creating an improved user experience by reinventing the traditional inspection process,” said Mike LaRocco, president and CEO at State Auto Insurance Companies.

The insurance industry is increasingly turning to AI-based tools to help optimize operations and keep costs down. San Francisco’s Cape Analytics, for example, is combining computer vision with geospatial imagery to help insurance companies evaluate properties as part of the underwriting process. And New York-based Lemonade has raised vast swathes of cash — including from Gradient Ventures’ sister VC firm GV (formerly Google Ventures) — to develop its consumer-focused chatbot-based insurance service global

Prior to now, Flyreel had raised around $2 million from angel investors, and with another $3.85 million in the bank, it said that it plans to “service new and existing demand” from its insurance customers, expand its team, and develop its core technology.

“This round of financing from established AI and industry experts plays a key role in supporting the delivery of our technology to new and existing customers,” said Flyreel founder and CEO Cole Winans. “We’re just beginning to scratch the surface of AI’s potential in insurance, with so much more to come.”

Though Google’s parent company Alphabet has a number of investment vehicles, including CapitalG and GV, Google itself announced Gradient Ventures back in 2017, a fund that has been squarely focused on early-stage AI startups. It has made more than 20 investments over the past couple of years, according to Crunchbase data, and it sees great potential for AI’s use in the lucrative property insurance sphere.

“The potential for artificial intelligence to improve the experience and economics of insurance is immense,” said Gradient Ventures partner Zach Bratun-Glennon. “Flyreel’s application of computer vision and broader machine learning is improving the customer experience while simultaneously providing insurers with data and intelligence they previously could never access.”

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Lemonade Raises $300M in Series D Funding

The round was led by SoftBank Group, with participation from Allianz, General Catalyst, GV (formerly known as Google Ventures), OurCrowd, and …
Daniel Schreiber
Daniel Schreiber

Lemonade, a NYC-based insurance company powered by artificial intelligence and behavioral economics, raised $300m in Series D funding.

The round was led by SoftBank Group, with participation from Allianz, General Catalyst, GV (formerly known as Google Ventures), OurCrowd, and Thrive Capital.

The transaction – which is subject to customary closing conditions including regulatory approvals – is targeted to close in Q2 2019.

The company plans to use the funds to accelerate its US and European expansion in 2019, and explore new product lines.

Founded by tech veterans Daniel Schreiber and Shai Wininger, Lemonade is licensed as a full-stack property and casualty insurance carrier. The company began offering homeowners and renters insurance in New York in late 2016, and is now available for most of the US population.

In addition to digitizing the entire insurance process, Lemonade reduces costs and bureaucracy through giving. As a Certified B-Corp, it takes a fixed percentage as a flat fee, eliminating the conflict between paying claims and making a profit, and donates a portion of unclaimed premium dollars to nonprofits during its annual ‘Giveback.’

FinSMEs

11/04/2019

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Trends in Pet Insurance Market by Production Market Analysis and Regional Market Performance

Trends in Pet Insurance Market by Production Market Analysis and Regional … Overview of Pet Insurance Market: “This report studies the Pet Insurance … Embrace, Royal & Sun Alliance (RSA), Direct Line Group, Agria, Petsecure, …

Pet Insurance

Global Pet Insurance Market This Industrial Pet Insurance market report consist of present and upcoming business patterns. It also focuses on CAGR, development, profits, deals, application, buyer desires, sales and venture esteem, this knowledge is compared with the current state of the market and discusses the forthcoming trends that have brought market progression.

Overview of Pet Insurance Market: “This report studies the Pet Insurance market, Pet insurance is a type of specialty property and casualty insurance policy that pet owners purchase to cover the unintended costs that arise in providing care for a pet, including veterinary services such as surgical procedures, injuries from accidents, and prescribed pet medicines. Pet insurance is purely a reimbursement program. A form of property and casualty insurance, pet insurance provides reimbursement to the owner after the pet has received required care and the owner submits a claim to the insurance company..”

Global Pet Insurance market competition by Professional Key players, with production, price, revenue (value) and market share for each manufacturer; the top players including:

  • Petplan UK (Allianz), Nationwide, Trupanion, Petplan NorthAmerica(Allianz), Hartville Group, Pethealth, Petfirst, Embrace, Royal & Sun Alliance (RSA), Direct Line Group, Agria, Petsecure, PetSure, Anicom Holding, ipet Insurance, Japan Animal Club

And More……

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Scope of the Report:

This report focuses on the Pet Insurance in North America and Europe market, especially in United States, United Kingdom, Canada, Germany, France, Italy and Spain. This report categorizes the market based on manufacturers, countries/Regions, type and application.

Target Audience of Pet Insurance Market 2019 Forecast to 2024 Market:

  • Manufacturer / Potential Investors
  • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
  • Association and government bodies.

On the basis of the end users/applications, this Pet Insurance market report focuses on the status and outlook for major applications/end users, consumption (sales), Pet Insurance industry share and growth rate for each application, including:

  • Dog
  • Cat
  • Other

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On the basis of product, this report displays the production, revenue, price, Pet Insurance market share and growth rate of each type, primarily split into:

  • Lifetime Cover
  • Non-lifetime Cover
  • Accident-only
  • Other

Pet Insurance Market 2019 Forecast to 2024 Market Segment by Regions, regional analysis covers

  • North America (USA, Canada and Mexico)
  • Europe (Germany, France, UK, Russia and Italy)
  • Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
  • South America (Brazil, Argentina, Columbia etc.)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Pet Insurance Market Research/analysis Report Contains Answers to your following questions

  • Which Manufacturing Technology is Used for Pet Insurance? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Pet Insurance Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Pet Insurance Market? What Was Capacity, Production Value, Cost and PROFIT of Pet Insurance Market?
  • What Is Current Market Status of Pet Insurance Market? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Pet Insurance Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Pet Insurance Market Considering Capacity, Production and Production Value? What Will Be Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Pet Insurance Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Pet Insurance Market? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Pet Insurance Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Pet Insurance Market?

Ask our Industry Experts @ https://www.360researchreports.com/enquiry/pre-order-enquiry/12110956

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Global UK SME insurance Market Size study, by line of business, by number of employees, by …

Global UK SME insurance Market to reach USD XXX billion by 2025. … in the market AXA, aviva, NFU mutual, Allianz, direct line, hiscox, zurich, AA.

Global UK SME insurance Market to reach USD XXX billion by 2025.

Global UK SME insurance Market valued approximately USD XXX billion in 2016 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2017-2025. Key factors which gives growth to the UK SME insurance market are With insurers increasingly seeking to grow their share of the SME market competition, farther advances in technology have allowed for products to become more specialized, allowing for niche markets to be targeted more accurately. Brokers have remained the most used channel when purchasing insurance, yet their share of the SME market has decreased significantly in 2017 according to the results of our 2017 UK SME Insurance Survey.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By line of business :

 Personal liability

 Cyber insurance

 Cargo insurance

 Property insurance

 Public liability insurance

By number of employees:

 Insurance for employees 1-9

 Insurance for employees 10-49

 Insurance for employees 50-249

By Distribution channel:

 Agency

 Broker

 Direct writing

By Regions:

 North America

o U.S.

o Canada

 Europe

o UK

o Germany

 Asia Pacific

o China

o India

o Japan

 Latin America

o Brazil

o Mexico

 Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2015

Base year – 2016

Forecast period – 2017 to 2025

Some of the key manufacturers involved in the market AXA, aviva, NFU mutual, Allianz, direct line, hiscox, zurich, AA. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.

Target Audience of the Global UK SME insurance Market in Market Study:

 Key Consulting Companies & Advisors

 Large, medium-sized, and small enterprises

 Venture capitalists

 Value-Added Resellers (VARs)

 Third-party knowledge providers

 Investment bankers

 Investors

To get Free Sample or to Buy this report at discounted price visit: https://www.nxtgenreports.com/market-research-reports/global-uk-sme-insurance-market-size-study-by-line

If you have any special requirements, kindly Contact Us and we will offer you the report as you want.

About NxtGen Reports: NxtGen Reports delivers strategic market research reports, industry analysis, business research and forecasts on product, services and companies. We understand the need of our customers and keep our market research reports up to date. Our reports are very well organized enabling our customers to identify and get access easily. We also offer customized discounts based on your expectations.

Contact Information:

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NxtGen Reports

Email: [email protected]

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