AI-powered solutions empowering the insurance ecosystem with data-backed insights

Latest Industry Insights from Draup Braindesk

Insurance companies are leveraging technology to provide the total value of their services to the customers. 

  • MedPro will enhance its Dialysis centers and Medical Labs with advanced technologies to supply accurate information vital to patient health and safety. 
  • Assurance IQ is a subsidiary of Prudential Financial, Inc. It combines an advanced technology platform backed by data science systems with human agents to provide a unique user experience to the customers who use the platform to access life, health, Medicare, and auto insurance products from third-party insurers. 

Latest Reports Published in Draup

Brit Group Services account intelligence report: Brit Group’s emphasis on technology focuses on digital change and innovation to improve performance, responsiveness, and competitiveness. The low revenue in 2020 reflects reduced transactional activity due to pandemic and Brexit uncertainty. 
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Allianz SE account intelligence report: In FY2020, gross premiums written decreased by 1.3% due to the intra-group transfer of the reinsurance business with the Liverpool Victoria Company and the effects of the COVID-19 pandemic. Read More>>

Key Funding Alert

Insurtech platform Turtlemint closes USD 46 Mn Series-D round with funds from Jungle Ventures 

Mumbai-based online insurance platform Turtlemint raised a fresh round of growth financing from Singapore-based Jungle Ventures. It will supercharge insurance distribution and innovation in India. 
Read More>>

Startup Spotlight

Company – Bicycle Health 
HQ Location – San Francisco Bay area, US
Total Funding – USD 5.28 Mn
Year of Inspection – 2017
About – Bicycle Health, a virtual addiction medicine clinic, treats opioid dependence or use disorder. The telemedicine-based addiction medicine specialists will work with the patient’s insurance to get reimbursed for their services. Read More>>

Key Insights and Signals in Insurance

Product Launch 
E-bike fleet insurance product launched by Zego and Wakam 
The new product for e-bike fleets is the annual fixed-term cover, charged monthly to enable businesses to pay at shorter intervals, making cash flow healthier. Read More>>
Murex Tech powers PZU implementation of Comprehensive Asset Management System 
Murex, the global leader in integrated investment management and processing solutions for capital markets, served as a critical technology partner for PZU Group to implement a sophisticated platform solution to manage its investments and assets, as well as those of its customers. Read More>>
Mergers and Acquisition
BancorpSouth’s (BXS) two merger deals receive the regulatory nod 
BancorpSouth Bank BXS has received necessary regulatory approvals from the Federal Deposit Insurance Corporation to go ahead with the previously announced mergers with National United Bancshares, Inc., the parent company of National United, and with FNS Bancshares, Inc., the parent company of FNB Bank. Read More>>
ENT group with 220 specialists extends deal with Cigna
The contract brings ENT and Allergy Associates’ 220 specialists and subspecialists in New York and New Jersey into Cigna’s network. The contract extension exemplifies their commitment to crafting fair and mutually beneficial contracts with insurance carriers. Read More>>
MetLife sells auto & home business to Zurich Insurance Group subsidiary Farmers Group, Inc 
Companies to operate a strategic partnership through which Farmers Insurance will offer its products on MetLife’s leading U.S. Group Benefits platform. Read More>>
ABI agrees GBP 26 Mn (USD 35.8 Mn) buy-in with Aviva 
The Association of British Insurers (ABI) Pension & Assurance Scheme has insured benefits for 191 members in a GBP 26 Mn (USD 35.8 Mn) buy-in with Aviva. Read More>>
Amwins Group, Inc. completes acquisition of Worldwide Facilities 
The partnership not only strengthens Amwins’ casualty and professional lines capabilities, specifically around Construction, Workers Compensation, D&O, and E&O, but it also expands Amwins’ geographic footprint along the west coast. Read More>>
Executive Movement
Kaiser Permanente names Diane Comer as chief information technology officer 
Diane will lead Kaiser Permanente’s focus on developing and delivering innovative, strategic initiatives that improve the employee and consumer experience and continue the organization’s efforts to provide advanced, digitally-enabled tools to transform health care. Read More>>
Brian Thompson to head UnitedHealth insurance unit as CEO 
Brian Thompson’s experience, relationships, and values make well-suited to help UnitedHealthcare improve how healthcare works for consumers, stakeholders, and partners, leading to continued and sustained long-term growth. Read More>>
Prudential names new head of Hong Kong investments 
Prudential Hong Kong has appointed Fanda Ho to become its head of investments. She will replace Ben Rudd, the former chief investment officer for Prudential Hong Kong. Read More>>
Omnicom (OMC) announces a multi-year agreement with Allianz 
Omnicom will provide creative solutions to help Allianz activate its global brand strategy in more than 70 countries. In an open-ecosystem approach, a multi-disciplinary team of leaders called A-Lab will guide, direct and align brand activities from a strategy, creative, audience, and data point of view. Read More>>
Spectrum Health strengthens supply chain management operations with Tecsys Software 
The new ecosystem includes a SaaS supply chain management platform with distribution management, warehouse management, and delivery management, with robust connectors to Spectrum Health’s Workday ERP. Read More>>
Here’s what’s new on our Sales Intelligence Platform
Expanded Sales Financials Data
  • Introducing Statements, Earnings Call Transcripts, and Ratio sections in the Financials section.
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