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FCA partners with NVIDIA to support AI innovation in UK insurance & financial services

1 week ago | beinsure.com | Peter Sonner

The U.K. Financial Conduct Authority (FCA) has partnered with NVIDIA Corp. to provide regulated financial firms with access to the company’s computing infrastructure and enterprise AI software. The initiative aims to accelerate AI experimentation and development in the financial sector. The collaboration targets firms in the early stages of AI exploration, offering enhanced access to data, technical resources, and regulatory guidance.
Insurtech AIFT and Shin Kong Life Insurance partnered to expand into Vietnam

1 week ago | beinsure.com | Peter Sonner

Insurtech AIFT, a technology provider of AI safety and security solutions with a presence across Asia and the Middle East, and Shin Kong Life Insurance have signed a cooperation agreement to expand into Vietnam’s digital insurance sector. The agreement combines AIFT’s IXT digital insurance platform with Shin Kong Vietnam Co. Ltd.’s local distribution capacity and market knowledge.
Cover Genius and TAL innovate to address underinsurance in Australia

1 week ago | beinsure.com | Peter Sonner

Australian life insurer, TAL, has partnered with leading global insurtech Cover Genius to launch embedded life insurance in Australia, with the introduction of backd by TAL. Simple, affordable and digital-only life insurance, backd leverages Cover Genius’ world-leading digital distribution and TAL’s life insurance expertise to meet a gap in the market. Millions of Australians, including part-time workers, contractors and casual employees, face limited access to affordable protection options.
Insurtech Kota secured €12.8 mn in a Series A led by Eurazeo

3 weeks ago | beinsure.com | Peter Sonner

Kota, an Dublin-based insurtech startup focused on simplifying insurance benefits administration, has secured €12.8 mn in a Series A funding round led by Eurazeo. Other participants include EQT Ventures, Northzone, Frontline Ventures, 9Yards, and Plug and Play. This round brings Kota’s total funding to over €20.2 mn.
TPA insurtech Reserv secured $25 mn in Series B funding

3 weeks ago | beinsure.com | Peter Sonner

Reserv, a technology-driven third-party administrator (TPA), has closed a $25 mn Series B funding round led by Flourish Ventures, with continued support from previous investors and new participation from Accenture Ventures. This round increases Reserv’s total funding to $55 mn.
Insurtech platform Empathy raised $72 mn in a Series C funding

3 weeks ago | beinsure.com | Peter Sonner

Insurtech platform Empathy has raised $72 mn in a Series C funding round led by Adams Street Partners, with additional participation from General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, and LionTree. The latest round brings the company’s total funding to $162 mn.
Igloo introduced Igloo Tech Solutions, focused on digital tools for insurance

3 weeks ago | beinsure.com | Peter Sonner

Igloo has introduced Igloo Tech Solutions, a new product line focused on digital tools for insurance operations in Southeast Asia. The platform includes modular systems such as Igloo Agent, Igloo Consumer, Igloo Partner, and Turbo — a no-code core system — as well as modules for claims and administrative processes.
Auto insurance platform Crabi secured $13.6 mn in Series A funding

3 weeks ago | beinsure.com | Peter Sonner

Crabi, a digital auto insurer based in Mexico, secured $13.6mn in Series A funding. The round was co-led by Kaszek and Ignia, with additional support from 30N, Redwood Ventures, Carao Ventures, Azuro Capital, and Newtopia VC. Established in 2019, Crabi operates as a licensed insurance carrier offering digital auto policies through its platform and partner channels. Crabi is a full-stack auto insurance platform built to make coverage simpler, smarter, and more accessible.
Cyber insurtech Baobab secured €12 mn in Series A

3 weeks ago | beinsure.com | Peter Sonner

Baobab, a Berlin-based cyber insurtech, secured €12 mn in a Series A funding round led by Viola FinTech and eCapital. Augmentum Fintech, Project A Ventures, and Christof Mascher, former Allianz executive, also joined the round. The company’s total funding now stands at €20 mn. Founded in 2021, Baobab operates in Germany and Austria. Its services include cyber insurance and cyber protection, with coverage provided through a partnership with Zurich.
Startup Voxel raised $44 mn in Series B round led by NewRoad Capital

3 weeks ago | beinsure.com | Peter Sonner

Voxel, a California-based startup, has raised $44 mn in a Series B round led by NewRoad Capital Partners, with additional investment from Eclipse, Rite Hite, Tokio Marine, MTech, HG Ventures, and Whitestone. This brings the company’s total funding to $61 mn. The company applies AI to workplace safety by analyzing footage from existing security cameras to detect hazardous conditions and unsafe actions in real time.