Coverager

3 days ago | coverager.com | Shefi Ben-Hutta

In 2022, Assurity launched its first direct-to-consumer initiative with the debut of criticalillness.com, a self-service website for purchasing critical illness insurance. The platform was designed to simplify the process of buying coverage for serious diseases through a short application and straightforward benefit structure. The product focused on four major health conditions—heart attack, stroke, cancer, and advanced Alzheimer’s disease—and promised a cash payout upon diagnosis.

6 days ago | coverager.com | Shefi Ben-Hutta

Rippling has secured $450 million in Series G funding at a $16.8 billion valuation, with participation from new and existing investors including Elad Gil, Sands Capital, GIC, Goldman Sachs Alternatives, Baillie Gifford, and Y Combinator. The company also plans to repurchase up to $200 million in equity from current and former employees. The raise follows a $200 million Series F in 2024 and brings Rippling’s total funding to $2.4 billion across eight rounds.

6 days ago | coverager.com | Gabriella Ben-Hutta

By clicking create account, you agree to our Terms & Privacy. New to Coverager? ZestyAI announced that Farmers and Mechanics Mutual Insurance Company of West Virginia (FMIWV) has selected Z-PROPERTY™ Location Insights to strengthen underwriting accuracy and improve risk-based pricing.

1 week ago | coverager.com | Avi Ben-Hutta

Hippo has released its Q1 2025, ending the period with a net loss of $48 million, an increase of $12 million compared to Q1 2024. The LA wildfires contributed $45 million to the net loss. Without the impact of the LA wildfires, Hippo’s net loss would have improved by $33 million YoY. The Services segment, which includes the consumer insurance agency, had revenue of $11.7 million, an increase of 3%, and an adjusted operating loss of $3.5 million, a decrease of 34% compared to Q1 2024.

1 week ago | coverager.com | Avi Ben-Hutta

Root Insurance released its Q1 2025 results, ending the period with ~454k policies-in-force, a 13% increase compared to Q1 2024. Root added 39k policies to its overall count during the quarter. Gross premiums written increased 24% YoY to $411 million. Net loss and LAE ratio improved 8 points YoY to 64%. Net combined ratio improved 6 points YoY to 96%. The company spent $51.5 million on sales and marketing during the quarter, a 69% increase compared to Q1 2024.