Insurtech Root's Customer Experience

Insurtech Root Insurance 2020 IPO Unpacked

The Root of Insurance is Profitable Coverage (Hint: A 63% 1st-year retention rate doesn’t help) Insurtech Root, a mobile-first (only) carrier announced its intent to go public this week.  Their SEC filing can be seen here.  This comes on the heels of their latest funding round in 2019 of $350M...

Insurtech Lemonade’s 2Q2020 results unpacked: The good and the bad

The Insurtech Lemonade (LMND) announced its Q2 results today, their first as a public company. The results showed significant improvements quarterly year over year in several key metrics. But is comparing Q2 2020 to Q2 2019 a fair comparison? Not only was the second quarter of 2020 one with significant...

Lemonade Logo

How do you like your Lemonade: tart or sweet? June 2020

As you probably have heard, the Insurtech Lemonade announced on Monday its intent to go public with a $100M offering. The current VC funding values Lemonade at ~$2B. There is not enough information in the S-1 to estimate market capitalization yet. Like another New York VC darling that flamed out,...

Mayor of London #WEF Davos

What I learned and the 1 big takeaway in Davos at the World Economic Forum 2020

I had the real fortune to head to Davos this year and the World Economic Forum and some of the other forums around blockchain, cryptocurrency, and inclusiveness.   I decided to go, mostly because this year’s theme “Sustainability” wasn’t something I hear regularly discussed in my personal or professional circles.  I...

2019: Insurtech in Review

Happy “National Science Fiction Day” to all of you that enjoy reading a great SciFi book or had a chance to see the latest Star Wars entrant.  I hope you had a great holiday season with family and friends.  As I reflect on 2019, I’ve been blessed to work and...

Chatbots: Insurtech vs Big Tech

Insurtech funding thru Q3 2019 has hit record levels totaling about $4.4B (approximately 60% being P&C and 40% L&H).  Surprisingly, little funding attention has been made to the “Chatbot.”  Even though the simple chatbot provides immediate benefits to customers, agents, and employees. According to an analysis of Coverager data, there...

Car Subscriptions and the Future of Personal Auto Insurance

As we all know, Millennial consumers expect speed, transparency, & online access.  This is true whether we are dealing with consumers or businesses.  There are some interesting developments that might impact personal auto premiums. One of the most discussed is the sharing economy.  There is a generational shift in terms...

Root raises $350M for a total of $527M

Root Insurance Company the Insurtech auto carrier just closed another round of financing @ $350M, bringing their total raised to $527M. 2018 premiums were $106M according to S&P Global. What does this mean for an incumbent #carrier? Watch the video to see a #Bull and #Bear take on their success....

Insurance agents should partner with Insurtechs

Could InsurTech Startups Be Friends—Not Foes for the Insurance Agent?

I recently wrote an article about how Insurance Agents can benefit from the Insurtech Ecosystem.  The Insurance agent or broker should look to partner with appropriate Insurtechs, thus bringing their insurance industry enhancements into their Agency and giving them a competitive advantage. You can read more @IndAgent:  Could insurtech startups be...

A contrary opinion to the impact of insurtech on incumbents

An interesting article on myinsuranceshark.com about why predicting legacy insurance carrier demise at the hands of insurtechs is wrong. [caption id="attachment_602" align="alignright" width="250"] The demise of legacy carriers is overrated[/caption] They posit that these predictions don't take into account game theory like behavior such as what the incumbent legacy carriers...

3 Reasons Why Smaller Insurance Carriers Need to Leverage Insurtech Advances

Effective customer relationship management (CRM) is key to successful business, especially when it comes to smaller insurance carriers where the focus is on the client relationship. No matter the carrier size, speed, efficiency and effective delivery are the keys to running a successful insurance business. However, in reality, the smaller...