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Kita Expands to Australia: Boosting Global Carbon Insurance Coverage
Kita, an InsurTech specializing in carbon insurance, has expanded operations into Australia to meet the rising demand for carbon market solutions in the Asia-Pacific region. This move builds on its existing coverage in markets like the UK, USA, and EU/EEA. By offering tailored insurance products, Kita aims to address risks in carbon credit transactions and enhance investor confidence. Managing Director James Kench emphasized Australia’s growing role in carbon markets and the company’s commitment to supporting environmental sustainability. This expansion positions Kita as a leader in providing innovative insurance solutions for carbon projects.
WTW Names Mark Mamone as New Chief of Technology Delivery and Strategy
WTW has appointed Mark Mamone as the new head of technology delivery and strategy for its Insurance Consulting and Technology (ICT) business, aiming to enhance its insurance technology solutions globally. Mamone, with 37 years of experience, including roles as Group CIO at GBG, will oversee software delivery strategies, platform and security teams, and overall architecture within ICT. His appointment is expected to strengthen WTW’s market-leading offerings and innovation in insurance technology. Duncan Anderson, WTW’s global insurance technology leader, endorsed Mamone’s expertise, highlighting its potential to enhance the company’s SaaS capabilities and transform the insurance industry.
Jove Unveils Revolutionary Pan-European Business Liability Insurance: A Game-Changer for Enterprises
Jove, a London-based InsurTech company, has launched its Pan-European Business Liability Insurance product following a successful £3.6 million seed funding round. This innovative insurance aims to provide affordable, customizable coverage for small businesses across 30 EU countries, specifically in sectors like creative industries, media, engineering, and consultancy. Key features include global coverage for employees in Europe, the US, and Canada, a flexible subscription model allowing monthly adjustments, and an enhanced broker portal for instant quotes. CEO Amanda Cai emphasized Jove’s mission to empower businesses with accessible solutions, positioning the company as a competitive force in the European insurance market.
Peak3 Launches Game-Changing Accumulator Insurance for Tailored Coverage Solutions
Peak3 is transforming the insurance industry with its accumulator insurance model, which offers personalized, dynamic coverage that adapts to customers’ lifestyles. This model allows users to accumulate micro-policies triggered by everyday activities, addressing the engagement issues inherent in traditional insurance methods. By leveraging real-time data, insurers can enhance risk assessment and customer engagement. Successful implementations include SNACK by Income Insurance and Grab’s Pay-Per-Trip Critical Illness Insurance. Peak3’s CEO emphasizes the need for flexibility and personalization in today’s digital landscape. Supported by advanced technology, including its Graphene and Fusion platforms, Peak3 empowers insurers to innovate beyond traditional models.
Meanwhile Secures $40M in Series A Funding to Enhance Digital Asset Life Insurance Solutions
Meanwhile, a pioneering InsurTech company specializing in digital asset life insurance, has raised $40 million in a Series A funding round, increasing its total capital to $60 million and valuing the firm at $190 million. Led by Framework Ventures and Fulgur Ventures, with participation from Xapo founder Wences Casares, this funding will enhance insurance offerings, expand operations, increase regulatory engagement, and support technological advancements. Founded in 2022 and licensed by the Bermuda Monetary Authority, Meanwhile offers whole life insurance policies denominated entirely in digital assets, positioning itself at the forefront of innovative financial solutions in the insurance sector.