The Ticker

Says digital insurance company Lemonade is using ZestyAI’s predictive analytics platform, which analyzes climate, location, and property details for risk assessments. 

Augments its Radar insurance rating and analytics solution with Radar Vision, an AI-powered tool for insurance companies to identify developing risks and opportunities related to inflation, competitor operations, claims, and customer activity.

Builds an AI accuracy validator for insurance underwriting, enabling commercial insurance customers to evaluate the accuracy of its tools.

Partners with London Underwriters, a national wholesale insurance brokerage specializing in insurtech distribution. The partnership integrates Simply Business’s carrier panel into LU One, the single sign-on portal from London Underwriters, enabling agents to quickly secure tailored coverage for small business clients through one platform.

Agrees to pay $975,000 in a settlement with New York state over a data breach involving 45,000 residents. Hackers obtained driver’s license information and dates of birth through automobile insurance quoting applications, using some data to fraudulently seek unemployment benefits.

Secures $4 million in seed funding, led by LDV Capital with participation from other VCs and strategic angel investors. The property analytics firm combines AI and structural engineering to provide detailed vulnerability assessments and highlight key structural risks in disaster scenarios.

Reports an 18% rise in cloud service disruptions in 2024 across the three primary providers: Amazon Web Services, Microsoft Azure, and Google Cloud Platform, marking a 52% overall increase in outages since 2022.

Raises $48 million for the legal and compliance automation platform, with funds from several investors totaling $87 million over the past 18 months. The platform aims to integrate compliance into business processes and check materials proactively, covering areas such as AI-generated content, communications, contracts, and marketing. >> Troy Paredes joins as senior policy advisor and head of capital markets strategy. Paredes served as a commissioner on the U.S. Securities and Exchange Commission from 2008 to 2013.

Opens for business as AI-powered parametric insurance platform for natural catastrophe risks. Operating from Bermuda and Texas, it will use technologies such as machine learning and remote sensing to develop its products.

Announces a collaboration with the Argentina Association of Insurance Companies (AACS) connecting AACS members with the global insurtech ecosystem.