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Better Buy: Lemonade vs. Rocket @themotleyfool #stocks $LMND $RKT

better buy: lemonade vs. rocket @themotleyfool #stocks $lmnd $rkt

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Lemonade (NYSE:LMND) and Rocket Companies (NYSE:RKT) both joined the public markets with initial public offerings this year. Lemonade is an insurance technology company that leverages artificial intelligence to sell renters and homeowners insurance, while Rocket Companies is the largest mortgage originator in the U.S.
Lemonade IPO’d in July and is currently trading roughly 75% higher than when it was first priced at $29 per share. Rocket IPO’d in August, offering shares at $18 and is currently trading about 14% higher than its offering price. Both have been volatile since their IPOs. Let’s see which is better positioned to succeed.

Image Source: Getty Images.

The fintech play
Tech IPOs this year have performed incredibly well, with investors willing to pay up for promising long-term horizons and perhaps getting excited about how much more valuable tech services have become during the coronavirus pandemic. Lemonade is not yet profitable, though the company saw its stock price surpass $85 at one point because investors viewed it as an insurtech that is going to grow significantly.
Rocket, on the other hand, has not done as well, primarily because it has failed to convince investors that it is a fintech. In 2015, Rocket launched the first end-to-end digital mortgage …

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InsurTech Firm PasarPolis Raises $54M | PYMNTS.com

insurtech firm pasarpolis raises $54m | pymnts.com

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Insurance technology firm PasarPolis has notched $54 million in funding, with Xiaomi Corp., LeapFrog Investments Ltd. and SBI Investment among the backers in the Series B round. Gojek, Traveloka and Tokopedia were some of the first investors in the Indonesia-based company, Bloomberg reported.The company will reportedly harness the funds for artificial intelligence (AI) infastrcuture to create tailored insurance offerings, while growing its Thailand, Vietnam and Indonesia business.CEO Cleosent Randing told Bloomberg that some large insurance firms are over a century old and much innovation in the space hasn’t taken place. “As Amazon is building innovation against the likes of Macy’s, we want to ultimately make insurance a delightful experience where you don’t need to make claims but they will be made automatically,” Randing said.PasarPolis, which was started in 2015, provides micro-insurance that lets delivery people, ridesharing workers and eCommerce buyers as well as merchants purchase protection for as little as a couple of pennies. Customers bought over 650 million policies last year.The firm seeks to harness technology to offer consumers who use mobile devices with a quicker and simpler experience to send in claims and select different offerings.Last November, news surfaced that Vouch Insurance said …

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Falcon Insurance Company Chooses Shift Technology for Fraud Detection

falcon insurance company chooses shift technology for fraud detection

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Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, announced the company has been selected to support fraud detection initiatives for Falcon Insurance Company. The Illinois-based auto insurer will deploy Force, Shift’s fraud detection solution to accurately and efficiently uncover suspicious behaviors in the claims processes.
Recommended AI News: New Global Mood Media Study Reveals Two-Thirds (67%) Of Consumers Have Returned To Non-Essential Shopping In-Store
Falcon has built a successful business on an ethos of simplicity, creativity, integrity, and efficiency. As such, the company strongly believes that the right combination of technology and expertise results in a fast and fair claims experience, the time when policy holders need insurers the most. Fraud negatively impacts the customer experience through not only higher premiums but also longer time to settlement. Knowing this, Falcon initiated a search for fraud detection technology that would meet their key requirements – ability to uncover a wide range of fraud, support for evolving fraud models – including those resulting from COVID-19 – and fast deployment and rapid return on investment. After a comprehensive evaluation, the insurer selected Shift, specifically citing its deep insurance industry expertise, focused data science teams, and flexible deployment …

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‘Kedaara’s investment to help Religare invest in tech for its insurance business’ – Times of India

‘kedaara’s investment to help religare invest in tech for its insurance business’ – times of india

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NEW DELHI: Religare Enterprises that has been struggling with controversies surrounding its erstwhile promoters, Malvinder and Shivinder Singh recently changed the brand name of its flagship insurance arm, Religare Health Insurance to Care Health Insurance. Rashmi Saluja, executive chairperson at Religare Enterprises talks to TOI about the re-branding and what the company plans to do with the recent Rs 567-crore investment by homegrown private equity firm, Kedaara Capital. Excerpts: What are details of the recent investment on Religare Health Insurance?Recently, private equity firm Kedaara Capital came on board as co- 2/3 promoter, investing about Rs 567 crore in Religare Health Insurance. This capital infusion will enable Religare Health Insurance to make further investments in technology to build a future-enabled organisation, committed to ensuring quality customer experience. With this The Religare Group’s stake in the flagship insurance venture was lowered by about 18% in June. Currently, the RHI shareholding for quarter ending June’20 is REL (72%), Kedaara Capital (18%), Union Bank of India (~6%), other retail investors (~4%). How has the company fared in the current fiscal? With the pandemic, many industries have witnessed a shift in consumer behaviour, what has been your learning and how will it affect your business planning?The pandemic has led …

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BNamericas – Chubb’s ‘insurance in a box’ lands on Latin …

bnamericas – chubb’s ‘insurance in a box’ lands on latin …

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The coronavirus pandemic has forced companies across the globe to launch or accelerate digital transformation initiatives. Those already advancing along this avenue prior to the outbreak were at an advantage. In Latin America, for example, local player eColón brought forward the launch of a digital health insurance product that was already in the development phase before the crisis barreled into the region.  Global player Chubb has also upped its game in the digital stakes, this month launching a platform called Chubb Studio, which it says is a type of “insurance in a box” designed to “simplify and streamline the distribution of the company’s insurance products through its partners’ digital channels around the world.” To talk about the consumer segment-focused solution – which works via multiple APIs – and Chubb’s Latin America plans and more, BNamericas spoke with the company’s Latin America digital VP, Gabriel Lázaro. BNamericas: Can you tell us a little about Chubb Studio? Lázaro: Chubb Studio is a global digital platform that simplifies and streamlines the distribution of insurance products. This tool was developed with the aim of being a comprehensive solution that supports the digitization of the insurance industry worldwide. It was created as part of the …

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American Fidelity Appoints SS&C for Insurance Investment Accounting Partnership

american fidelity appoints ss&c for insurance investment accounting partnership

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WINDSOR, Conn., Sept. 25, 2020 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Oklahoma’s American Fidelity Assurance Company will migrate its insurance investment accounting to SS&C Singularity. American Fidelity is the seventh client in three months to adopt SS&C’s AI-powered Singularity investment operations and accounting platform, adding to the company’s established and fast-growing insurance customer base. Additionally, SS&C’s Precision LM platform will support the full loan lifecycle of American Fidelity’s commercial mortgage investments, including origination, servicing and accounting, and risk-based capital reporting.
“Singularity’s unique ability to provide a single, flexible, multi-basis accounting platform and comprehensive support for all of our core and alternative assets significantly enhances our operational efficiency,” said John Robison, Chief Investment Officer at American Fidelity. “SS&C’s strong capabilities for loan origination and servicing through Precision LM, tightly integrated with Singularity, provides us with a truly holistic and powerful solution that we felt was unmatched in the industry.”
“We are thrilled to partner with American Fidelity as we continue to see strong demand for an innovative, next-generation accounting platform,” said Kyle Fields, V.P. and Head of SS&C Singularity. “Singularity’s AI-driven investment operations and accounting capabilities, broad asset coverage and strong …

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Leveraging technology to futureproof your business

leveraging technology to futureproof your business

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When it comes to finding the right modern tech solution for a company, there are many vendors promising all the right things: web-service based, API-enabled, cloud native and interoperable platforms. Clyde Owen, executive vice president at ClarionDoor, says carriers need to understand the value of these benefits and the importance of having systems that can work independently.

“Where there’s an opportunity to gain specificity using a platform that is intended to be interoperable, my challenge to carriers is to do so,” he said. “A system becomes much more futureproofed because it can go from place to place and can be used outside the core system.”

This requires an understanding of what needs to be futureproofed and using that analysis to configure systems and optimize workflow or the user experience. For example, one of the most critical components in insurance is product definition. Often expressed in a rate engine, carriers need the ability to change product definition efficiently, regularly, and cost-effectively. Finding ways to compartmentalize this part of the system and source vendors focused on this capability can help insurance companies create a roadmap to establishing the most efficient system for their business.

“If a system is independent, it becomes …

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Tech Innovation That Will Assist In Your Digital Insurance Buying Journey

tech innovation that will assist in your digital insurance buying journey

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Rapid technological advancements in the past few decades have led to a paradigm shift in a variety of sectors and the insurance industry is no exception. Tech has played an integral role in reshaping the insurance industry where the focus is not only on simplifying the overall experience for customers, but also on achieving better operational efficiency. Given the onslaught of breakthrough technologies like Artificial Intelligence, Big Data, and Machine Learning, the insurance sector too has changed and is changing for the better.

Impact of Breakthrough Technologies In Insurance Sector

You might have already heard a popular saying, “In God we trust, all others must bring data,” and it couldn’t be truer for the insurance industry that strongly relies on data collection and risk analysis. This is why, Big Data plays a very crucial role in the insurance sector. So, for instance, if a Life Insurance Company wants to calculate a term insurance premium and risk involved for a person, it could use big data to arrive at a prudent decision. Big data can help in this by showing patterns in lifestyle changes or employment or other factors that can have a risk impact. This analysis can be used …

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Global Insurance Technology Market Is Thriving Worldwide | Leading Key players Xchanging, Insurance Technology Services, Patriot Technology Solutions, etc.

global insurance technology market is thriving worldwide | leading key players xchanging, insurance technology services, patriot technology solutions, etc.

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Insurance Technology Market with Covid-19 Impact Analysis: Forecast to Show Spurring Growth by 2020-2026” to its research database. The global Insurance Technology Market research report is an output of a brief assessment and an extensive analysis of practical data collected from the global Insurance Technology Market. The data are collected on the basis of industrial drifts and demands related to the services & products. The meticulously collected data offers for the process of effortless strategic planning. It also helps in creating promising business alternatives.
Free Sample Report + All Related Graphs & Charts @ https://www.statsandreports.com/request-sample/391021-global-insurance-technology-market-size-status-and-forecast-2019-2025
North America accounted for the largest share in the Insurance Technology market in 2020 owing to the increasing collaboration activities by key players over the forecast period
A perfect demonstration of the recent expansions and innovative technological resolutions offer our customers the liberty to develop their decision-making skills. This ultimately helps to work with perfect business alternatives and apply elegant implementations. The global Insurance Technology Market report emphasizes the latest developments, growth, new opportunities, and dormant tricks. It provides an all-inclusive stance of the global Insurance Technology Market. Requirement proportion and innovation of modern technologies are some of the key factors covered in the …

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