<div>
  <ul>
    <li>
      <p>
        Kin Insurance (Kin), a digital homeowners insurance company, has announced the termination of its merger plans with Omnichannel Acquisition Corp, a publicly traded special purpose acquisition company (SPAC).&nbsp;
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;The merger, which was announced in 
    <a href="https://sp-edge.com/updates/2843">
      May 2021
    </a>
     and valued Kin at USD 1 billion, would have been completed in the first quarter of 2022, but has been terminated due to unfavorable market conditions.&lt;/ul&gt;
  </p>
</div>


<div>
  <p>
    <a href="https://www.businesswire.com/news/home/20220126005979/en/Kin-Insurance-Inc.-and-Omnichannel-Acquisition-Corp.-Mutually-Agree-to-Terminate-Business-Combination-Agreement">
      Press release
    </a>
  </p>
</div>


Neo Insurance

Kin Insurance abandons SPAC merger plans amid unfavorable market conditions

INCUMBENTS_PRESENT

<div>
 <p>Chubb has reached an agreement to acquire Healthy Paws, a pet insurance provider, from its current owner, Aon plc. The amount involved in the deal has not been revealed. Healthy Paws, established in 2009, provides insurance coverage and manages claims for over half a million dogs and cats across the United States. The acquisition will enable Chubb to further its penetration in the pet insurance sector, taking advantage of Healthy Paws' well-established brand and extensive customer base.</p>
</div>

Chubb to acquire Healthy Paws to expand reach in pet insurance market

PROMINENT_CATEGORY

<div>
  <p>Matic Insurance, a digital insurance marketplace provider, announced a partnership with national mortgage lender USA Mortgage. This collaboration is set to integrate Matic's insurance marketplace into USA Mortgage's home lending platform.</p>

  <p>The objective of the partnership is to streamline the insurance shopping experience for USA Mortgage customers. This will allow them to compare and buy a range of insurance coverages during the mortgage process. This coverage spectrum includes home, auto, pet, and other personal insurance lines.</p>
</div>

Matic Insurance partners with USA Mortgage to offer its digital insurance marketplace for home buyers

ANALYST_QUICK_TAKE

<div>
<p>Kanguro, a digital insurance provider for pets focusing on the Latin American population, has broadened its services to incorporate renters' insurance in Texas. The key characteristics of their renters' insurance include AI-powered, personalized policy creation, a simplified claims procedure, and bilingual support in English and Spanish. They are looking for partnerships with insurance companies and property managers to increase their coverage, specifically within the Texas Latino community.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The company commenced offering pet health insurance in September 2022 and is now available in 17 states, including Arizona, Colorado, and Texas. Additionally, it has integrated an AI chatbot to aid customers in purchasing policies and filing claims.</p>

Kanguro expands into renters insurance starting with Texas

<div>
 
 <p>MassMutual has teamed up with Genomics plc to offer a genetic risk assessment service to its policyholders. Those who are eligible can utilize a saliva test to determine their risk for eight prevalent diseases.</p>
 <p>Such genetic data offers insight into the chances of contracting a disease, thereby assisting patients and doctors in making informed and proactive health decisions.&nbsp;</p>
 <p>It's important to note that individual test outcomes are not disclosed to MassMutual and do not impact insurance policies. Initial collaboration findings suggest a strong interest among policyholders in utilizing the health risk information provided.</p>
 
</div>

MassMutual and Genomics plc partner to offer personalized genetic risk assessment to policyowners

<div>

 <p>Lemonade, an end-to-end insurance company offering various personal line insurance products, has introduced its homeowners' insurance in France. This launch is in collaboration with BNP Paribas Cardif, with the latter's extensive domestic market experience, spanning five decades.</p>
 <p>Pricing for the policy starts at EUR 10 per month (~USD 11 per month). The base coverage includes fire protection, water damage, reconstruction costs, and civil liability. Additional add-ons like school insurance, legal protection, and theft coverage outside the home are offered. </p>
 <p>The insurance policy can be purchased by French residents via the Lemonade App or BNP Paribas Cardif's website. Lemonade is licensed and regulated by the Dutch Central Bank (DNB) and operates under the European Freedom of Services regime in France. The homeowners' insurance policy is underwritten by BNP Paribas Cardif and Lemonade Insurance N.V. candidly as co-insurers.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> Lemonade entered France in December 2020 by offering renters' insurance. The introduction of homeowners' insurance further bolsters the company's ambitions for global expansion, marking its transition from a monoline insurer to a multi-line insurer in Europe.</p>

Lemonade launches homeowners insurance in France in partnership with BNP Paribas Cardif

<div>

 <p>American Family Life Insurance has chosen Munich Re's ALLFINANZ NOVA, a cloud-based automated underwriting and analytics solution. </p>
 <p>This SaaS platform will enable the insurance company to improve customer service and speed up the life insurance application process. It achieves this through features such as automated underwriting, access to third-party electronic data, and analytics.</p>
 
</div>

American Family Life Insurance selects Munich Re's automated underwriting solution

<div>
 
 <p>Insurance provider Aviva has launched a new telematics-based auto insurance service, Aviva MyDrive, available as a free add-on to customers purchasing Aviva's Online car insurance through a price comparison website. The service aims to encourage safer driving habits in users and potentially offers reduced insurance premiums as a reward.</p>
 <p>The Aviva MyDrive app uses smartphone data to assess the driving behaviour of its users, taking into consideration acceleration, braking intensity, cornering technique, speed, and phone use while at the wheel.&nbsp;</p>
 <p>Aviva has stated that approximately 85% of Aviva MyDrive users are likely to receive a discount on their next insurance renewal based on their recorded driving habits.</p>
 
</div>

Aviva launches Aviva MyDrive, a telematics-based auto insurance

<div>
 
 <p>Verisk, an insurance predictive analytics and decision support solutions provider, has collaborated with Seek Now, a property inspection service provider. The goal of this partnership is to enhance Verisk's property estimation tools utilizing Seek Now's technology to aid claim adjusters in property damage assessment.</p>
 <p>The integration caters to all claim types, including wind, hail, and water damage, and gives adjusters immediate access to ground-level data often within 24 hours, thereby facilitating a streamlined adjudication process.</p>
 
</div>

Verisk partners with Seek Now to enhance property insurance claims processing

<div>
 
 <p>Yonder, a credit card company located in the UK, has joined forces with Qover, an embedded insurance provider to offer travel insurance to Yonder's members.</p>
 <p>This insurance coverage guarantees various compensations, including for inconveniences during travel and accommodation, delayed departures or cancellations, incidents during winter sports, theft of baggage, and other scenarios.</p>
 <p>The customer is insured as soon as they secure a full membership with Yonder.</p>
 
</div>

Qover partners with Yonder to offer travel insurance for cardholders

<div>
 
 <p>Zesty.ai, a property risk analytics provider that uses AI, has introduced a new product called "Roof Age". This solution determines the age of a roof with more than 90% accuracy by using building permits data, historical imagery, and AI.</p>
 <p>As part of a suite of roof-related risk products, Roof Age complements other offerings such as Digital Roof, and risk models for specific perils including Z-HAIL, Z-WIND, and Z-STORM.</p>
 <p>ZestyAI anticipates that Roof Age will enable insurance carriers to increase their premiums, reduce losses, and enhance property inspections. By offering a more precise evaluation of roof age and condition, it helps insurers to make better underwriting and rating decisions, and to avoid reliance on unreliable data from policyholders.</p>
 
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All Updates