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      <p>
        Lemonade, a full-stack insurer that provides a range of insurance products such as renters, homeowners, life, car, and pet insurance, has launched its services in the UK through a long-term strategic partnership with Aviva.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The expansion marks its fourth territory in Europe with Aviva also acting as its reinsurance partner.&nbsp;
      </p>
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    <li>
      <p>
        Following this launch, Lemonade will offer renters (contents) insurance to UK residents starting at GBP 4 per month through the Lemonade app or its website.
      </p>
    </li>
  </ul>
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<div>
  <p>
    <a href="https://www.businesswire.com/news/home/20221002005039/en/Lemonade-Launches-in-the-UK">
      Company press release
    </a>
  </p>
  <p>
    <a href="https://techcrunch.com/2022/10/02/lemonade-leans-on-aviva-to-bring-its-next-gen-insurance-platform-to-the-uk/">
      TechCrunch
    </a>
  </p>
  <p>
  </p>
</div>


InsurTech: Personal Lines

Lemonade enters the UK market through a strategic partnership with Aviva

ANALYST_QUICK_TAKE

<div>
 
 <p>The digital auto and home insurer from Germany, wefox, has agreed upon a deal to sell its Liechtenstein-based insurance carrier, wefox Insurance AG, to a consortium of Swiss companies. This group is primarily led by BERAG, a Swiss company providing independent pension services. The details regarding the total amount of this transaction have not been disclosed.</p>
 <p>Once the sale is finalized, the daily sickness benefits insurance business in Switzerland will be managed by BERAG. The customers who have already been associated with wefox will face no interruptions in service provision. Both their contracts and operational processes will remain unaffected as BERAG will be maintaining its position as the key point of contact for these patrons.</p>
 <p>In the past, BERAG has functioned as an MGA for wefox Insurance AG in Switzerland. Notably, it was behind the emergence of the daily sickness benefits business of the company. For this acquisition to happen, it needs to get the green light from the Financial Market Authority based in Liechtenstein. The deal is set to be finalized in the first half of the year 2025.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In June this year, wefox announced <a href="https:<br>
//sp-edge.com/updates/30962"> restructuring plans </a> in response to its financial difficulties. As part of this plan, the company <a href="https:<br>
//sp-edge.com/updates/32181"> exited from the German </a> market in July 2024, selling assona GmbH to the Ecclesia Group and transferring its German insurance brokerage activities to IWV Versicherungsservice AG. These actions highlight wefox's ongoing efforts to streamline operations and focus on more profitable markets.</p>

wefox sells wefox Insurance AG to BERAG

PROMINENT_CATEGORY

<div>
 
 <p>The Canadian digital insurance provider, Apollo Insurance, has partnered with Zen Residential, a property management company in Alberta. This partnership makes Apollo the sole tenant insurance provider for Zen Residential. </p>
 <p>Incorporating Apollo's digital platform into Zen's leasing and renewal protocols, this integration provides a streamlined process that facilitates instant, digital insurance purchases for tenants. This system also benefits property managers, simplifying administrative tasks through the instant processing of insurance transactions, automated compliance, real-time updates, and alerts.</p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 The partnership between APOLLO Insurance and Zen Residential mirrors their <a href="https:<br>
//sp-edge.com/updates/33194"> collaboration with Payquad Solutions </a> in September 2024 and their recent <a href="https:<br>
//sp-edge.com/updates/35701"> integration with Townline </a> earlier this month. Both initiatives emphasize embedding digital insurance solutions directly into property management workflows.</p>

Apollo Insurance partners with Zen Residential to provide digital tenant insurance in Alberta

<div>
<p>VOOM Insurance, a provider of usage-based insurance, has brought on board Thomas Coyne as the new head of insurance. Coyne will be instrumental in advancing the company's insurance operations. His brief includes focusing on product development and underwriting as the firm works on expanding its usage-based insurance services.</p>
<p>With a professional journey spanning over three decades in property and casualty insurance, Coyne has gathered extensive knowledge and experience. In the past, he has led product management at Mercury Insurance, where he was in charge of a personal lines portfolio worth USD 3.4 billion. Other notable roles included senior management positions at The Hartford and Travelers. Coyne recently built non-standard auto specialty programs for MGAs.</p>
</div>

Voom Insurance names Thomas Coyne as head of insurance

<div>
 
 <p>Branch, a digital home and auto insurance provider, is partnering with AI and tech solutions firm Liberate Innovations to make insurance claim processes more efficient.</p>
 <p>The new features of the partnership includes Voice AI and Digital First Notice of Loss (FNOL), allowing policyholders to make claims in less than five minutes via prefilled policy fields and an easy tap-and-click system. These features are integrated into Branch's platforms, allowing for smooth transfer of structured data and mitigating the need for manual input. Among the highlights is a fraud detection software that assigns fraud probability to submitted images. </p>
 <p>Through these advancements, the collaboration aims to decrease manual data entry, improve accuracy, enhance data integrity and efficiency in assigning vendors. Branch's intention is to provide a smoother customer experience, thereby highlighting its dedication to excellent service.</p>
 
</div>

Branch partners with Liberate Innovations for streamlined claim journeys

<div>
 
 <p>iCover, a cloud-based insurance underwriting platform, has introduced iCover Direct, an online insurance marketplace offering life, health, and wellness insurance products.</p>
 <p>iCover Direct acts as a virtual meeting place between community insurers and customers, with four carriers currently listed. The platform utilises QUI technology, featuring the industry's first non-reflexive eApp and an algorithmic decision engine to facilitate insurance buying. It also provides health insurance and wellness products through affiliate partnerships with companies like Hooray Health.</p>
 <p>According to iCover, the platform will improve the consumer buying experience by using its algorithm-based underwriting system, which can quote, underwrite, and deliver life insurance policies in less than five minutes. The company is also working on creating exclusive, competitively priced products specifically for iCover Direct.</p>
 
</div>

iCover launches life insurance marketplace iCover Direct

<div>
 
 <p>Digital landlord and homeowners insurance provider, Honeycomb Insurance, has extended its operations to Washington and Maryland, which increases its total presence to 18 states. Currently, they are insuring assets with a total insured value of over USD 35 billion.</p>
 <p>Honeycomb Insurance now caters to over 60% of the US population, extending their services across Arizona, California, Connecticut, Georgia, Illinois, Indiana, Maryland, Massachusetts, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Texas, Utah, Virginia, Washington, and Wisconsin.</p>
 <p>Their expansion was marked by the launch of their new E&amp;S program, named "E&amp;S Lite". This program, backed by Atlanta-based insurer Builders, offers extended coverage options for landlords and condo associations who may not qualify for Honeycomb's admitted program.</p>
 
</div>

Honeycomb expands insurance operations to Washington and Maryland, covering USD 35 billion in assets

<div>
 
 <p>Digital banking solutions provider, Blend, has formed a partnership with digital insurance marketplace, Covered Insurance Solutions. This partnership will enable Blend to offer home insurance to its mortgage customers.</p>
 <p>As per the partnership, Covered's platform will be integrated directly into Blend's mortgage application workflow, granting homebuyers access to top-rated insurance companies across America. Covered will assume charge of Blend's insurance agency operations, transitioning from an internal model to one that is driven by this partnership.</p>
 <p>The main objective of this collaboration is to offer borrowers a broad choice of insurance providers and competitive value. In addition to that, it also assists lenders in streamlining the loan process by providing enhanced engagement tools and extensive insurance marketplace services.</p>
 
</div>

Blend partners with Covered Insurance to offer home insurance for mortgage customers

<div>

 <p>Apollo Insurance, a digital insurance provider in Canada, has teamed up with Townline, a property development and management firm. The partnership aims to provide digital insurance solutions for tenants. This collaboration allows for the integration of insurance purchases into Townline's leasing and renewal operations, offering a complete solution to property managers for tenant insurance compliance.</p>
 
 <p>The objective of this union is to simplify the insurance process for both residents and property managers. It accomplishes this by facilitating instant digital insurance transactions and automated compliance monitoring.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> This partnership between APOLLO Insurance and Townline follows a similar pattern to their September 2024 <a href="https:<br>
//sp-edge.com/updates/33194"> collaboration with Payquad Solutions </a> , as both integrations focus on embedding digital insurance solutions directly into property management workflows.</p>

Apollo Insurance partners with Townline to provide digital tenant insurance solutions

<div>
 
 <p>ManyPets, headquartered in the UK and providing digital pet insurance, is exiting the US market to concentrate on its domestic operations. To ensure continued coverage for its current American customers, it is collaborating with Odie Pet Insurance, with the renewed policies poised to take effect from January 1, 2025.</p>
 <p>The transition phase will entail customers of ManyPets receiving Odie Pet Insurance's renewal offers from November 1, 2024, which will subsequently need to obtain underwriting approval.</p>
 <p>ManyPets made its way into the US market in March 2021, garnering roughly USD 21.5 million in premiums during 2023. Despite the US market being a significant target for ManyPets, it confronted operational hiccups like high costs for customer acquisition and meagre retention rates. Moreover, in 2022, it had procured a licensed carrier from Munich Re for crafting its policies. However, it is now planning on selling the carrier, forming part of its exit plan.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> ManyPets' exit from the US market follows a similar pattern to its <a href="https:<br>
//sp-edge.com/updates/18904"> withdrawal from Sweden in May 2023 </a> . In both cases, the company ensured a smooth transition for existing customers by partnering with local insurers Odie Pet Insurance in the US and Hedvig in Sweden to maintain coverage continuity.</p>

ManyPets exits US market; transitions customers to Odie

<div>
 
 <p>Homeowners' insurance provider, Delos, has successfully raised USD 9 million in a Series A funding round. The round was led by HSBC Asset Management and saw participation from other players including IA Capital Group, Blue Bear Capital, Generation Space, and several angel investors.</p>
 <p>With a plan to expand beyond California, Delos intends to utilize the funding for speedy expansion into other states while developing new products to offer affordable insurance coverage. </p>
 <p>The company presently holds USD 40 billion in total insurance value. It utilizes satellite imagery and AI technology to identify homes eligible for insurance in areas prone to wildfires. </p>
 
</div>

All Updates

Lemonade enters the UK market through a strategic partnership with Aviva

wefox sells wefox Insurance AG to BERAG

Apollo Insurance partners with Zen Residential to provide digital tenant insurance in Alberta

Voom Insurance names Thomas Coyne as head of insurance

Branch partners with Liberate Innovations for streamlined claim journeys

iCover launches life insurance marketplace iCover Direct

Honeycomb expands insurance operations to Washington and Maryland, covering USD 35 billion in assets

Blend partners with Covered Insurance to offer home insurance for mortgage customers

Apollo Insurance partners with Townline to provide digital tenant insurance solutions

ManyPets exits US market; transitions customers to Odie

Delos Insurance Solutions raises USD 9 million in Series A funding to expand coverage

InsurTech: Personal Lines

Lemonade enters the UK market through a strategic partnership with Aviva

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