Zenefits fined $1.2 million by NY regulator for unlicensed insurance sales

(Reuters) – Health benefits broker Zenefits was fined $1.2 million with New York’s financial services regulator on Tuesday for letting unlicensed employees solicit, negotiate and sell insurance policies, the latest regulatory blow for the software startup. Zenefits in 2014 and 2015 engaged in “repeated” violations of the state’s insurance law, including failures to maintain adequate […]

On-demand insurance platform Trov raises $45 million ahead of U.S. and global expansion

Insurance tech startup Trov has closed a $45 million Series D funding round led by HSB Ventures, with participation from Oak HC/FT, Suncorp Group, Guidewire, Anthemis, and Japanese insurance giant Sompo Holdings. Founded in 2012, California-based Trov sells itself as an on-demand insurance platform “for the things you love.” So rather than insuring the entirety of your possessions, you can choose […]

AI and insurance: Exchanging privacy for a cheaper rate

Do you have car insurance? Health insurance? Homeowners insurance? Chances are you are a customer of at least one insurance company and a policyholder on one or more types of insurance. If so, you should pay particular attention to the fact that the global insurance industry is seeking to harness artificial intelligence solutions. While the […]

Singapore’s CXA raises $25 million to develop its health-focused insurance brokerage

screenshot-2017-02-08-16-37-31 CXA, a Singapore-based startup insurance brokerage — if such a thing can exist — has scooped up $25 million to expand its service that provide policies with a focus on wellness across Asia.
This is a Series B investment and it was led by B Capital, the BCG-backed fund from Facebook co-founder Eduardo Saverin, and EDBI, the investment arm of the Singapore Economic Development Board. Read More

Caterpillar invests in Airware bringing drone tech to mining and construction enterprises

Airware drones demo The venture arm of Caterpillar Inc., a major manufacturer of construction and mining equipment, has invested in San Francisco drone tech startup Airware. Rather than make its own unmanned aerial vehicles, Airware has focused its efforts around providing software and services that help large enterprises use drones throughout their operations. Airware’s cloud-based software helps… Read More