Obie partners with Digital Partners to automate insurance purchases for investment properties

Key Signals in Insurance

AIG Life renews Smart Health contract with Teladoc  
Insurer AIG Life Limited renewed its contract with global telehealth provider Teladoc Health to deliver Smart Health for four years. The insurer has seen an accelerated interest in remote healthcare service Smart Health on the backdrop of the Covid-19 pandemic. Read More>>
Obie partners with Digital Partners, a Munich Re company
Obie is partnering with Digital Partners, a Munich Re company, to provide a new, instant insurance offering. This partnership will provide landlords with the ability to obtain bindable insurance quotes for their investment properties within minutes. Read More>>
Bikmo and Uniqa partner to drive insurance innovation in the European cycling market 
The partnership will target consumers and companies involved in the European cycling market, commercial partnerships, and innovative insurance technology platform with Uniqa’s underwriting expertise will help accelerate Bikmo’s ambition of protecting the world’s riders  Read More>>
Mergers and Acquisition 
IMM Credit Solution buys heiress’ stake in Samsung Life Insurance 
IMM Private Equity will acquire a 1.73% stake in Samsung Life Insurance Co. The stakes were once owned by Lee Seo-hyun, chair of the Samsung Welfare Foundation and sister of Samsung Vice Chairman Jay Y. Lee. Read More>>
Executive Movement
Chubb appoints Simon Abbott as Product Head Aviation for Chubb Global Markets 
The company appointed Simon Abbott as Product Head Aviation for Chubb Global Markets (CGM), its London Market wholesale and specialty arm, including its Lloyd’s platform. Simon will lead all aspects of the insurer’s Aviation business, based in London and has hubs in Paris, France, and Toronto, Canada. Read More>>
Pacific Life Re promotes Nicholas Lax to lead R&D in Europe
The company announced the appointment of Nicholas Lax as Head of Research & Development (R&D), Europe. Since joining Pacific Life Re, he has led the development of different mortality and morbidity assumptions. Read More>>
Great American Insurance Group announces leadership succession plans
The company named David L. Thompson Jr., the President and Chief Operating Officer of Great Americans Property & Casualty. David’s executive leadership experience overseeing numerous Great American specialty P&C operations positions us well for growth and success. Read More>>

Latest Industry Insights from Draup Braindesk

  • Direct to Consumer: Digital Sales Customers interact digitally with insurers more than ever, and online sales are convenient and provide reliability and transparency to the customers.
  • Automated Recommendation Engine: AI-based suggestions integrating various data assets and deploying AI/ML algorithms helps insurers understand/predict consumer needs and proactively suggest customized insurance plans to eradicate the salesperson’s dependency. 
  • Targeted Marketing: By using digital marketing, companies can monitor their real-time business impact by targeting specific customer segments and offering personalized email campaigns and advertisements. 
Challenges: Insurance companies are struggling to reduce manual dependencies in their sales & marketing processes and continue to offer equivalent sales support. 


Key Funding Alert

Parsyl raises USD 25 Mn Series-B funding 
Denver-based Parsyl raised funds to expand its cargo insurance and risk management solutions. The company uses data to identify and manage risk, while reducing the wastage of essential goods. According to a release, its technology is currently monitoring vaccines for nearly 200m people. Read More>>

Startup Spotlight

Company – Crabi Inc.
Total Funding – USD 5.3 Mn
About: Crabi’s platform delivers simple, easy, accessible, and personalized car insurance. It enables customers to get insured from any location and time and pay what they need. It is a vertically-integrated insurtech carrier that uses big data to analyze individual driving behavior. Read More>>

Latest Reports Published in Draup

Premera Blue Cross Account Intelligence Report: Premera Blue Cross is the biggest health plans provider in the Pacific Northwest that provides tailored and complete healthcare services to their customers in Alaska and Washington. Its service comprises innovative programs relating to prevention, wellness, and patient safety. Read More>>
Blue Shield of California Account Intelligence Report: Blue Shield offers its applications to reduce stress and improve the mental health of customers. By leveraging AI, Blue Shield provides automated billing and payment process. They offer health programs and care programs to enhance resources for healthy living. Read More>>

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