Lemonade fizzes into the Netherlands
Who’s involved: US-based artificial intelligence (AI) insurance company Lemonade.
What’s happening: Lemonade has expanded its operations into the Netherlands market after extending into Germany last year.
Significance of development: Lemonade said customers in the Netherlands will now be able to access content and liability cover as well as file claims remotely via its app.
Daniel Schreiber, co-founder and chief executive at Lemonade, said the firm had chosen to expand in the Netherlands due to the “many requests received” from Dutch consumers and its offering had been specifically designed for the Dutch market.
Loadsure secures £1.1m seed funding
Who’s involved: Insurtech managing agent for the freight cargo insurance market Loadsure; insurtech incubator Insurtech Gateway.
What’s happening: Loadsure has secured £1.1m ($1.35m) in investment from Insurtech Gateway along with other corporate and angel investors.
Significance of development: Loadsure said the investment will allow it to expands operations in the US through its “one-click” offering designed to provide on demand spot freight cargo insurance.
The firm added its offering address the millions of uninsured or underinsured freight tons shipped in the US each year.
Nimbla joins Covid-19 task force
Who’s involved: Nimbla, a digital insurance platform focusing on providing trade credit coverage.
What’s happening: Nimbla has joined several other financial technology firms to create a Covid-19 taskforce designed to ensure small and medium sized enterprises (SMEs) can obtain funding during the pandemic.
Significance of development: The taskforce, which also include digital lending and client onboarding platforms, was formed to ensure SMEs can obtain funding when needed at a time when cash flow may be difficult.
“We are working together with our coalition partners and industry leaders to propose a government-backed scheme, specifically for SMEs, for credit insurance which will encourage them to continue to offer credit terms," said Flemming Bengsten, chief execuitve at Nimbla.