Today, online homeowners and renters insurance carrier Lemonade announced that it had filed for licenses to operate in 46 states. As more startups who raised capital this year turn to product launches, we look forward to covering how consumers respond in 2017.
At play is Ant’s controlling stake in the China unit of insurer Cathay Insurance. Ant is jointly developing insurance products with Cathay that look to be “in the same field” as Zhong An.
Just two weeks ago, Ant executives were in Silicon Valley as Ant looks to lay the groundwork for its own IPO. Meanwhile, Zhong An, which has sold more than 4B policies to 400M+ customers, was last valued at $8B and appears to now be focusing on a China listing.
Guidewire’s busy 2016
Guidewire’s IPO in 2012 put it atop the largest venture-backed exits in insurance, but since its IPO, the P&C software provider has primarily shied away from M&A – until 2016.
This week’s $160M acquisition of ISCS marked its third M&A deal of the year. Guidewire also made its first strategic investment in 2016 to Trov, currently operating in the UK and Australia.
Call for submissions
Everyone reading this newsletter is much smarter than us, so we’re compiling submissions for our next issue from you on the following questions:
What is your top prediction for insurance tech startups for 2017?
On the same topic, what did you expect to see in 2016 that didn’t pan out?
We realize responses will be broad. Reply back to this email and we’ll publish as many as we can.
Have a great rest of the year and a very happy holidays. We’ll see you in 2017.