Lighthouse #10
Curating the best insurance, insurtech, innovation and leadership content for you.
Ron Arnold
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The riskiest thing we can do is just maintain the status quo.
Bob Iger
Acko raises $225m: Indian based digital insurer Acko which was established in 2016 has raised 2016 in a Series D. Acko offers car, taxi, and bike insurance, product protection, and health insurance. It sells its products directly or through third-party sites such as Amazon. The start-up plans to invest more in its health insurance vertical. Key investors include Canada Pension Plan Investment Board, Lightspeed, Intact Ventures, Munich Re Ventures and Amazon - a pretty serious cap table! Source: Coverager
Australian Community Media launches insurance brand: This is not one I saw coming. Australian Community Media (ACM) has launched a new insurance brand, View Insurance. The new offering provides “broker style insurance products” with deals across business, car, and home insurance. View insurance is associated with Carollo Horton & Associates Pty Ltd who is also associated with Steadfast. ACM is made up of more than 140 leading rural and regional news brands consisting of community-based websites, daily and community newspapers, magazines and events. ACM reports that it has reach to millions of Australians.
Source: Adnews
The new offering provides “broker style insurance products” with deals across business, car, and home insurance.
Neobanks exploring insurance opportunities: As part of their broader strategy to attract customers, some neobanks are offering different types of insurance coverage. For instance, Monese, a London bank for expats, is covering goods bought within the last 90 to 180 days — available for paying subscribers at no extra cost. This is a type of embedded insurance. Banks offering insurance is nothing new; even neobanks offer specific coverage for phones or foreign travel. But what’s novel here is that Monese’s policy will cover all items that are lost or damaged when bought on its card. Monese is also going further by offering a form of income insurance. Under its new ‘Bills protection’ feature, Monese’s ~2m users can get accommodation coverage for just £1.95 a month. In the event of lost income, users can claim up to £600 across 3 months without leaving the app. Source: Sifted
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