Swiss Re partners with Wysa for mental health app to support insurers and their policyholders

Key Insights and Signals in Insurance

Mergers and Acquisitions  
Cigna, focusing on its sizable health insurance portfolio, to sell life, accident, and benefits business to Chubb in USD 5.75 Bn deal
The agreement is another step forward in advancing Cigna’s strategic focus on its global health businesses. Read More>>
Gallagher acquires SeaCoast Underwriters
Arthur J. Gallagher & Co’s wholesale brokerage, binding authority, and programs division known as Risk Placement Services has acquired Florida-based SeaCoast Underwriters. Read More>>
Molina Healthcare to acquire certain assets of AgeWell New York
The purchase price for the transaction is approximately USD 110 Mn, net of certain tax benefits and Molina’s target allocation of required regulatory capital. AgeWell served about 13,000 managed long-term services and supports (MLTSS) members, with full-year 2020 premium revenue of approximately USD 700 Mn. Read More>>
Sun Life US to acquire DentaQuest in a USD 2.48 Bn deal
DentaQuest has more than 33 million members in 36 states and approximately 2,400 employees. Furthermore, its acquisition by Sun Life will position DentaQuest as a leader in providing government dental benefits, alongside another leading business at Sun Life US, its medical stop-loss business. Read More>>
Swiss Re partnered with Wysa for mental health app
The new app will include mental health tracking and guidance for seeking offline support and better reporting for insurance clients. The goal is to enable a pre-notification of claims by encouraging policyholders to seek support through proven techniques in existing insurer ecosystems before issues become too extreme. Read More>>
Zywave announces integration with HR software provider
With the integration, Zywave and Employee Navigator users can streamline the quoting and enrollment process by enabling plans quoted in Zywave CPQ Benefits to flow into Employee Navigator automatically. The integration will help reduce duplicate data entry and errors. Read More>>
Executive Movement
Anthem Inc. of Indianapolis has named new executives to its senior leadership team
Pete Haytaian will lead Anthems diversified business group and IngenioRx as executive vice president and president, diversified business and IngenioRx. As executive vice president and president, Morgan Kendrick will lead Anthem’s commercial and specialty business divisions. Read More>>
AXA XL Insurance promotes Michael Takigawa
Takigawa is based in San Francisco and Monterey, where he will oversee the underwriting strategy and product innovation for AXA XL’s Commercial E&O business in the region. He joined AXA XL in 2003 and most recently served as the Head of Strategic Planning and West Regional Leader for Design Professional. Read More>>
Deals and Deal Renewals
Cigna to sell some businesses to Chubb for USD 5.8 Bn
As part of the deal, Chubb will acquire businesses in Hong Kong, Indonesia, South Korea, New Zealand, Taiwan, and Thailand and Cigna’s interest in a joint venture in Turkey. Read More>>
Policybazaar parent’s healthtech unit Docprime invests USD 7.5 Mn in Visit Health
The investment is in line with its goal of enhancing service capabilities in the health and wellness space. Visit has already raised a seed round of USD 1.4 Mn from investors such as MapmyIndia, Snapdeal co-founders Kunal Bahl and Rohit Bansal, and Hetero Drugs Director Murali Krishna. Read More>>
Financial and Market Activity
Chubb Limited expected to announce quarterly sales of USD 9.95 Bn
Three analysts have made estimates for Chubb’s earnings. The highest sales estimate is USD 10.11 Bn, and the lowest is USD 9.86 Bn. Chubb posted sales of USD 10.09 Bn during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. Read More>>
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Latest Industry Insights from Draup Braindesk

Insurance companies are digitizing their operations by enhancing their in-house capabilities in the risk analytics section and collaborating with niche companies for telematics solutions. The shift towards data-based automation in insurance operations is helping the players resolve inefficiency, inaccuracy, and malpractices in operations.

Insurance companies are adopting an omnichannel approach towards sales and marketing by using a wide range of digital solutions like interactive ads and personalized plans to attract more customers.

Key Funding Alert

Medicare advantage startup Devoted Health rakes in USD 1.15 Bn in Series-D funding
Devoted is seeking to improve the health of older adults through its stack of healthcare services. It created a combination of services that include Medicare Advantage health plans, partnerships with providers, and its in-house virtual and at-home care provider, Devoted Medical. Read more>>

Startup Spotlight

Company – Riskcovry
Total Funding  USD 5.03 Mn
About: Riskcovry is an “insurance-in-a-box” model that offers a one-stop-shop platform to cater to any business’s digital insurance needs. It provides plug-and-play technology to its 50 partners across sectors and industries. Read more>>

Latest Reports Published in Draup

Aviva plc Account Intelligence Report: Aviva provides innovative solutions to combat fraudulent claims and provide digital healthcare applications for enhanced user experience. It aims to improve security options and provides a trade decision-making solution for embraced customer experience. 
Read More>>
Bupa Automotive Battery Industry: Bupa introduced a new remote skin assessment service to enable all its health insurance clients with quick skin cancer testing from the comfort of their own homes, without the need for a doctor’s referral. Read More>>
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