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Chinese investment firm launches $715 million fund for European startups to grow in China | VentureBeat | Business | by Paul Sawers

Above: Europe Funding

Image Credit: Shutterstock

A Chinese investment firm has launched a new £500 million ($715 million) investment fund specifically for European startups.

London-based Cocoon Networks is a spin-off from China Equity Group, one of the first investors in Baidu, China’s Google-equivalent, and Hanxin Capital, a firm with a track record in biotech and cloud computing investments. The ultimate aim of the new fund is to invest in startups “whose products and services show promise and potential for growth in the Chinese market,” across medical, fintech, biotech, fashion tech, and more. In addition to funding, Cocoon Networks is also launching an incubator space in the U.K. capital.

China has been increasingly looking to the West for opportunities in the tech realm. In February of last year, China’s Tencent moved into Europe with an investment in mobile and online game publisher Miniclip, and a month later, China’s Cheetah Mobile acquired France-based mobile ad company MobPartner for $58 million. Israel is also on the radar of many Chinese organizations and institutions.

Many companies struggle to gain a foothold in the Chinese market due to regulatory and legislative hurdles, with the likes of Google and Netflix currently facing resistance. Aid in circumventing such obstacles will be part of what Cocoon Networks can offer startups it invests in.

via venturebeat.com

#IoT #Insurtech : @AXAVentures invests in @Neura raises $11 million to create digital identities from consumers' connected lives | VentureBeat | Business | by Paul Sawers

Above: Server Room in a Data Center

Image Credit: Shutterstock/Oleksiy Mark

Neura, an Israeli Internet of Things startup that pulls together data from users’ connected devices, has raised $11 million to expand its “business reach and make the service ubiquitous.” The Series A round was led by AXA Strategic Ventures and Pitango Venture Capital, with participation from Liberty Israel Venture Fund and Lenovo Group.

Founded in 2013, Neura launched in the U.S. out of UpWest Labs, a Silicon Valley-based accelerator specifically for Israeli startups. The following year, Neura announced a $2 million funding round.

Neura’s core raison d’être is to serve up back-end analysis to the Internet of Things industry, and its technology can gather data on individuals from a range of connected devices, including phones, tablets, apps, and more. Neura’s artificial intelligence recognizes and analyzes human behavior and develops what it calls a “digital identity” for each person, insight that can be used to personalize applications, services, and devices.

The global Internet of Things industry is estimated to be worth $11.1 trillion by 2025, according to analysis by McKinsey, and it’s clear, looking at some of the products emerging from big tech companies and emerging startups today, that the world is becoming increasingly connected. At CES in Las Vegas this month, for example, Samsung unveiled a myriad of new products, such as the Family Hub connected cooler, which is a fridge with a 21.5-inch HD touchscreen on the door.

Neura’s back-end technology can be used across any industry, including automotive, healthcare, smart homes, and more. And by analyzing behavior across multiple verticals, the company can garner a more complete picture of consumers’ actions, establishing habits and predicting what they may do next.

Though Neura’s investors consist largely of angels or VC funds, it’s notable that Chinese computing giant Lenovo has elected to participate in this Series A round. “Neura’s technology represents an exciting development within the Internet of Things – a big step towards a world where devices not only connect to each other, but adapt themselves to users and their habits,” said Peter Hortensius, CTO of Lenovo.

via venturebeat.com

#Insurtech #Instech = Insurers commit $1bn to tech start-ups - FT.com

©Bloomberg

Some of the world’s biggest insurers have committed more than $1bn to investing in technology start-ups as the industry attempts to play catch-up with other parts of the financial services sector and boost profitability.

European insurers such as Axa, Aviva and Allianz, along with MassMutual and American Family in the US and Ping An in Asia have all set up specialist venture capital funds dedicated to investing in start-ups that may be relevant for their core businesses.

More

On this topic

• Chinese gaming company buys 60% of Grindr
• Analysis Israel – Start-up nation comes of age
• Waze’s $1.1bn sets a target for others to aim for
• UK tech start-ups raise $3.6bn in 2015

IN Insurance

• Aviva opens ‘digital garage’ in tech push
• Prudential makes first capital rules move
• Aegon shares jump on new strategy

via www.ft.com

Startupbootcamp & Aviva show why London is the capital of InsurTech | Daily Fintech

Over a four-day period last week, 25 InsurTech startups made their pitches at two separate events in London’s insurance heartland. From new distribution models to engage with customers and smarter ways to underwrite risk. This week I summarize the ingenuity, creativity and innovation that is fuelling London as the global capital for InsurTech.

Common themes resonated amongst the 25 pitches. Themes that I have seen week after week as I interview InsurTech start-ups and scale-ups for Daily Fintech.

#1 – It’s all about the customer!

And so it should be! If insurance is to become a bought, not sold purchase of value then it starts with the customer. And this is not just about selling to a disinterested millennial generation; this is a theme that spans demographics and all classes of insurance.

Making policies simple to understand. Making them relevant to an individual’s needs. Personalizing the cover to take account of unique customer circumstances. Pricing them to be competitive.

#2 – The emergence of “Engagement Insurance”

When insurers connect with customers throughout the life of the policy, not just at renewal or claim. We’re seeing insurance becoming a lifestyle product through digital engagement.

And the emergence of on/off insurance.

And putting claimant’s first. After all, the value of insurance is realized through the claims process and yet satisfaction rates are woefully low. New tech and new business models that engage with claimants so that they feel they are getting value are emerging.

#3 – Show me the data!

Insurers need data. And continuously too! Instead of a single point in time assessment of a risk based on static data points, InsurTech is giving insurers real time, meaningful data specific to an individual risk.

Wearables, Connected Homes, Connected Cars, Internet of Things, Smartphone apps. All providing new sources of data to complement, and maybe one day, replace traditional underwriting data.

The first event was the InsurTech Meetup @ the Aviva Garage

 

If you take anything away from a visit to the Garage in Hoxton Square, it is a clear sense of Aviva’s commitment to innovation. And tonight, Aviva played host to an InsurTech meet up of around 200 people with pizza and beer.

Host Paul Heybourne kicked off proceedings by explaining the pitches would be given PechaKucha style (the Japanese chitchat format of presenting 20 slides, 20 seconds each). And it never fails to amaze me how startups adapt to the pressures of condensing their entire story/business plan/goals/aspirations and deep understanding of their markets in really short timeframes.

The startups pitched in the following order…

Worry + Peace – CEO James York

At a time when the broker model is under threat it is great to see a determined, passionate and customer centric approach. And James “gets it”!

Kasko – Co-Founder Nikolas.

Previously covered here on Daily Fintech, Kasko is a digital platform launching in Germany that connects insurance carriers at the point of sale and provides insurance cover as a secondary purchase.

HeyBrolly – Co-Founder Phoebe Hughes

Phoebe explained they will start by providing a single place to hold, store, and organise multiple insurance policies. And

via dailyfintech.com

The Daily Fintech Top 10 #InsurTech predictions for 2016 | Daily Fintech

2015 was the year that InsurTech emerged from the shadow of Fintech. This story has been told through my last 40 research notes published on DailyFintech.com over the past 8 months. Including 28 interviews with the CEOs and Founders of InsurTechs, this story spans the globe from the USA to China, from South Africa to Estonia, and a few stops in between.

 So, what does this tell us about the next chapter of this story? Here, I give you my Top 10 InsurTech predictions for 2016.

In no particular order…

Prediction #1

Insurers will create lifestyle apps that provide additional consumer value on an ongoing basis. Continuous consumer engagement will start to replace price as the key buying criteria. This will be sticky insurance with strong brand loyalty.

Prediction #2

The P2P insurance business model will struggle to reach scale in its current form. This will drive the P2P insurers to find new ways to replace the traditional carrier model and we will see signs of the emergence of a completely new business model for insurance. That will scale.

Prediction #3

Much greater levels of personalised rating will become widely available using new sources of data from tech such as wearables, Internet of Things, smartphone apps. This will lead to variable premiums over the policy term to incentivize better behaviour (although insurers will hold back and not introduce corresponding punishments in 2016).

Prediction #4

“All in one policy” cover (aka, all risks insurance) will emerge for consumer protection. Policyholders will be able to insure their lifestyle (their home, motor, dog, holidays, iphone, treasures, travel) in a single policy based on highly personalized risk assessment through a digital platform.

Prediction #5

“All in one place” platforms (aka a concierge service) will replace traditional intermediaries with a digital broker. These services will consolidate multiple policies, converge with financial planning tools and provide robo-advice on gaps and duplication in cover.

Prediction #6

New entrants will come into the market with highly sophisticated data modeling and predictive analytics solutions. They will exploit mass-scale technologies, high performance computing and techniques developed in high frequency trading.

Prediction #7

Convenience and the ability to digitally turn insurance cover on and off as needed will be steadily accepted and adopted. As will microinsurance, sharing insurance and pay per mile. Unit premiums will be higher but this will be outweighed by Millennial attitudes towards insurance cover and paying a price for convenience.

Prediction #8

The poorest in our world are the one’s who need insurance the most. In 2016, the insurance industry will (finally) start to better serve the massively under-insured populations in developing countries. This will be driven by a combination of the massive market opportunity that exists for insurance, global economic forces and a socio-political agenda.

Prediction #9

There will be widespread deployment by traditional insurers of new digital solutions to reduce cost of claims and loss handling. Serving both ends of the insurance workflow, these tech solutions will enable better collection of data and evidence to improve risk rating at the front end and the claims handling processes, especially at FNOL, at the b

via dailyfintech.com

In 2016, Users Will Trust Health Apps More Than Their Doctors - Forbes

Apple CEO Tim Cook talks about Health apps during an Apple event in San Francisco. (AP Photo/Eric Risberg)

With healthcare reform and more advanced data becoming available, mobile health apps will not only see growing number of users, but studies suggest they will, for the first time, become people’s preferred resource over physicians.

According to a study by ITOnline, two-thirds of Americans have already shown a favor for digital health management over physical. The study also shows 79 percent of Americans said they would be willing to use a wearable device to manage their health, where a 45 percent wanted tracking of symptoms while 43 percent wanted it to manage a personal health issue or condition.

PricewaterhouseCoopers ’ recent study shows healthcare as top 3 biggest mobile trends for 2016. PWC bases its projection on the fact that US adults who own web-enabled smartphone or other wireless device have at least one health or fitness app on their smartphone—an increase of 16% over the past two years.

The study shows that health apps have some of the highest number of downloads. “As user trust continues to grow for these apps, collaborations that bring together activity tracking, period tracking, weight and diet tracking will merge, with powerful overall health results,” the study states. “More than ever, doctors will need to connect in with the app ecosystem or be left behind.”

Kindara’s recent study predicts more women will use mobile apps to conc

via www.forbes.com

Tech And The Changing Face Of Insurance | TechCrunch

Jennifer FitzgeraldCrunch Network Contributor

Jennifer Fitzgerald is co-founder and CEO of PolicyGenius.

How to join the network

It’s only 2016, but the real world is quickly moving into the realm of science fiction. Drones, driverless cars and not-really-hoverboards are (or soon will be) commonplace.

We’ve also seen technology change industries not normally associated with the term “cutting edge” — Uber has all but replaced taxis for many people, and Airbnb made finding lodging as easy as opening an app.

But with these new toys and technologies come questions. Whether it’s about which regulations apply to disruptive players, what new tech means for existing jobs or why hoverboards keep exploding, there’s a learning curve with integrating new technology into our lives.

Here’s the one question everyone should be asking: What does this mean for my insurance?

There’s a reason so many people think insurance — what it covers, how it’s sold and more — needs an overhaul. The industry is slow to react, and when finances, security and safety are on the line, you don’t want to be playing catch-up. Do I need insurance for my drone? What does a driverless car mean for auto liability? When the lines of coverage are blurred, it leaves a grey area of confusion at best and a complete gap in protection at worst.

The good news is that change is coming (and in some cases is already here). And the opportunity is too big to be ignored for long. Beginning in 2016, we’ll start seeing established companies and newcomers alike move to fill insurance coverage gaps being created by new technology and industries.

Current evolution

We’ve already seen changes come, slowly, to the sharing economy — the phrase for the industry that allows everyday folks to use what they already own (like their cars or homes) to provide goods and services to other people.

Take Airbnb, for instance. Many people don’t have liability coverage through their homeowner’s or renter’s insurance. If your insurer found out you were using your house as a makeshift bed and breakfast, your policy was likely to be canceled.

Now, though, there are more options for protection. Umbrella policies help cover a wider range of issues. Smaller insurers such as Peers are providing adequate insurance coverage. And even if Airbnb’s Host Protection Coverage and Host Guarantee only provide secondary coverage and don’t completely fill the gap in protection, they show that these companies recognize the need for such products. Leaving your customers out to dry isn’t the best way to build a business.

Technology isn’t slowing down and waiting for insurance to catch up.

Or look at Uber. There used to be a gap in insurance coverage where an Uber driver would be covered by their own auto insurance when they were off the clock, covered by Uber’s insurance when driving a passenger but covered by neither when they were looking for a customer. Just like

via techcrunch.com

India's Modi Launches $15. Billion Fund for Startups - Fortune

India's Prime Minister Narendra Modi. Photograph by Jonathan Brady — Reuters

His plan also includes tax breaks.

via fortune.com

Baromètre du crowdfunding : les entreprises françaises ont levé 3,5 millions d'euros en décembre - JDN

En partenariat avec Bpifrance, découvrez le baromètre mensuel des plateformes d'equity et de prêt aux entreprises françaises. Le mois de décembre a vu les montants recueillis chuter.

Comme tous les mois, le JDN vous présente son baromètre du crowdfunding en prêt et en equity, en France, grâce à Bpifrance et à sa plateforme Tousnosprojets, destinée à aiguiller tant les contributeurs que les porteurs de projets.

En décembre, les entreprises n'ont recueilli que 3,5 millions d'euros sur les plateformes de financement participatif de prêt et d'equity, contre 7,34 millions en novembre. Le montant global est similaire à celui des mois de juillet et août. Pas de baisse semblable en décembre 2014, cependant : les entreprises françaises avaient alors levé 3,9 millions d'euros, en forte hausse (1,8 millions en novembre 2014 et 1,2 en octobre). 

26 collectes seulement se sont achevées avec succès (contre 47 en novembre, 41 en octobre), et 26 ont échoué, soit un taux de réussite de 70%.

Collectes sur les plateformes de financement participatif sous forme de prêts et d'equity

Mois	Juillet	Août	Septembre	Octobre	Novembre	Décembre
Nombre de collectes achevées en août	42	26	41	50	67	37
Collectes finalisées avec succès	36	21	34	41	47	26
Taux de succès	86%	81%	83%	82%	70%	70,2%
Montant collecté (en millions d'euros)	3,388	3,845	6,098	5,821	7,34	3,506

via www.journaldunet.com

#VC = 3 Notes on the Foursquare Financing - Fortune

Photograph by Chris Ratcliffe — Bloomberg via Getty Images

Diving inside of a down-round.

Foursquare yesterday announced $45 million in new venture capital funding from (mostly) existing investors. The company also said that its founding CEO Dennis Crowley would be replaced by chief operating officer Jeff Glueck. Crowley will become the company’s executive chairman.

The big headline here is that this is a major down-round for a company once valued at $760 million. The new investors put money in at a valuation of $250 million.* But there are some other interesting items in the company’s Delaware stock certificate (courtesy of VC Experts):

via fortune.com

#FinTech : UN NOUVEL ACTIONNARIAT CHEZ ADVIZE POUR UN AMBITIEUX PROGRAMME DE DÉVELOPPEMENT | News Banques

ADVIZE GROUP, société récemment créée par des professionnels reconnus de l’épargne en ligne, a acquis la totalité du capital de Sentinelle SAS et d’Advize SAS et s’engage dans un ambitieux projet de développement des activités d’Advize.

« Aujourd’hui, grâce à Advize épargner est devenu aussi simple que de réserver un voyage en ligne, nous facilitons l‘accès à l’épargne au plus grand nombre » déclare Olivier Gentier, Directeur Général d’Advize Group.

Créateur de l’épargne copilotée, Advize est le premier robo-advisor français.
Lancée dès juin 2012, cette solution innovante de gestion d’épargne en ligne à destination des particuliers compte plus de 3000 utilisateurs et fait d’Advize le fer de lance de la FinTech française en matière d’épargne.

Advize rend simple, accessible et compréhensible l’épargne des particuliers en France en s’appuyant sur une technologie propriétaire unique au service des épargnants permettant la connaissance de l‘épargnant et son profil de risque, l’allocation sur des supports d’épargne correspondant, le suivi dynamique de l’adéquation entre allocation et profil de l’épargnant.

En s’appuyant sur 3 ans d’expérience, Advize Group étoffe son offre vers les comptes titres, le PEA, le PERP, les univers d’investissements, notamment les ETF, et un réseau d’allocateurs. L’offre est également complétée de solutions « B to B » sur mesure à destination non seulement des grands distributeurs de produits d’épargne mais également de tous les acteurs désireux de valoriser leurs bases de clientèle « B to C ». Les solutions d‘épargne Advize seront déployées en Europe.

La nouvelle structure est pilotée par Olivier Gentier (ex Société Générale) et Nicolas Marchandise, fondateur d’Advize, qui ont respectivement la charge de la direction générale du groupe, des opérations commerciales et marketing pour l’un et des développements de l‘offre et de la technologie pour l’autre.

Le Conseil de Surveillance est composé d’Arnaud Poutier (IG, Boursorama Banque, Selftrade), de Julien Nebenzahl (Futur Asset Managemen

via news-banques.com

#KPCB = great report about 2015 Internet trends

2015 Internet Trends Report from Kleiner Perkins Caufield & Byers

Les fintech auront bientôt leur Maison | Paperjam News

Pour accélérer le mouvement fintech sur la Place, Luxembourg for Finance veut réunir partenaires publics et privés.

(Photo: Christophe Olinger)

Partagez en digest

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La House of Fintech verra bientôt le jour

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via paperjam.lu

#Étude : 25% des Français prêts à utiliser les FinTech pour 50% de leurs besoins financiers d'ici 2020 - Maddyness

inShare254

via www.maddyness.com

#Insurtech with @AXAVentures - PolicyGenius picks up a Series B led by Steve Case - New York Business Journal

Who gets: Brooklyn-based PolicyGenius, through its Insurance Checkup product, allows users to discover gaps in their coverage and shop for what they need.

Amount raised:$15 million in a Series B round. Since launch, PolicyGenius has raised more than $21 million in venture capital.

Enlarge

PolicyGenius founders Jen Fitzgerald, left and Francois de Lame, right.

Michael Nagle

via www.bizjournals.com

#Insurtech = Why crop insurance in India needs innovation and not subsidy - ET Blogs

The attempt to revamp crop insurance is welcome. It does make sense to get farmers to develop the habit of insuring their crops, for which insurance companies must offer realistic policies without obscure conditions that make successful insurance claims the exception rather than the rule. However, it is open to question if an open-ended subsidy from the Centre on the insurance premium is the way to go about it. India’s farm sector is burdened with the malaise of far too much ill administered subsidy and far too little investment. An insurance scheme that deepens this disease is eminently avoidable. The government should open up the futures and options market on farm commodities and seek innovative solutions from insurance companies.

The scheme, to be effective from the upcoming kharif season, should clearly prescribe the conditions under which claims can be made, and state how the losses would be assessed. Insurance companies will underwrite crop insurance only when they see an opportunity for a positive actuarial outcome over time. Insurers must quote realistic premiums to ensure the business is commercially viable. Only then will reinsurance companies also be willing to absorb the risks from the books of general insurers. A valued policy — wherein the sum insured includes the input cost plus, say, a profit of 10 per cent — makes better economic sense for farmers. They should recover the insurance cost from consumers and through higher productivity.

Products must be made available to individual farmers, whether they own the land or not. Past schemes have assessed localities rather than individual farms for loss. The arrival of drones that carry sophisticated remote-sensing equipment can change this, and ensure speedy settlement of claims.

via blogs.economictimes.indiatimes.com

Anaplan raises another $90 million - Business Insider

Business Insider/Julie BortAnaplan CEO Frederic Laluyaux

Despite the "anti-unicorn" climate that has descended on Silicon Valley lately, hot, growing startups can still raise a boatload of investment at billion-dollar valuations, especially if the lead investors are outside of the U.S.

So it is for Anaplan, which just raised another $90 million, led by Indian VC firm Premji Invest.

Scottish firm Baillie Gifford also participated, as did Founders Circle Capital, Harmony Partners, and Anaplan’s existing investors which includes Salesforce and Shasta Ventures.

Anaplan has now raised $234.4 million in total, according to Crunchbase.

CEO Frederic Laluyaux tells us this is the last round the company plans to raise. Next stop, an IPO. And in addition to the fundraising, the company also hired a new CFO James Budge, previously at Genesys.

Anaplan offers a financial planning cloud app that's as easy to use as a spreadsheet, but also does things Excel can't do, like modeling and letting groups work together. A planner can use it to see how adding more employees might affect sales and profitability, for instance. Its claim to fame is that it's a lot less expensive than planning software from giant SAP. 

Tighter terms

In 2014, Anaplan made waves when it raised $100 million, a whopping amount at the time. It said then it had about $1 billion valuation.

It is now valued at $1.09 billion, TechCrunch reports.

This indicates that, while the cash is still available, terms have gotten tighter than last year, when startups with $1 billion valuations were popping up like weeds. (CB Research is tracking 150 of them.)

Anaplan CEO Frederic Laluyaux explains, "Multiples have retracted but good companies still get funding, i.e., the money has not disappeared." 

In other words, VCs are being more pragmatic when looking at a startup's revenue/ bookings to determine how much money to offer, and how to value the company. 

Because some billion-dollar startups have hit troubled times like missing sales projections, with at least one investor writing down valuations, there's a growing sentiment against them. (One of them, Good Technology, even sold itself to its hated competitor for less than half of its previous value.)

One of the Valley's most active investors, Salesforce's Marc Benioff, has even been speaking out against the billion-dollar-valuation startup trend, too, and urging startups to go public instead of raising more money. (Salesforce is one of the biggest corporate investors of cloud based startups and, as we mentioned, it's an investor in Anaplan, t

via uk.businessinsider.com

#Insurtech & #Agtech = Future farming relies on new technology - FT.com

©Alamy

Drone potential: sheep farming by quad bike is neither time nor fuel efficient

In the blue skies above a livestock farm in New Zealand, a drone flies over flocks of sheep. In the office below, Neil Gardyne, the family farm’s owner, uses the images to identify ewes that are having trouble lambing or newborns that have become separated from their mothers, known as cast sheep.

More

On this story

• Mexican courts debate end of GM maize ban
• Obesity surge drives debate on sin taxes
• Food prices fall despite climate concerns
• Asia races to find drought-resistant rice
• Mergers on menu for food and drink sector

On this topic

• Lab-grown burger keeps meat on world menu
• Donors meet in fight against malnutrition
• Unilever and Nestlé back biofuel curbs
• New World Bank chief to target poverty

IN Future of the Food Industry

via www.ft.com

#Insurtech = Peer-to-peer insurance will revolutionise insurance industry: AIG

Ty Sagalow, the former president of product development at American International Group (AIG), has said his new venture that will develop peer-to-peer insurance products is the most exciting thing he has been involved with in a 20-year career focused on innovation in the insurance industry.

Sagalow was this week appointed as chief insurance officer of Lemonade a New York start-up founded by tech entrepreneurs Daniel Schreiber and Shai Wininger that has already raised $13 million from private equity firms including Sequoia Capital.

The insurance venture has also hired a number of other high profile industry names including Robert Giurlando, previously chief underwriting officer at ACE, who is Lemonade’s chief underwriting officer; James Hageman, previously senior vice president of claims at ACE, who has been hired as chief claims officer; and Ron Topping, previously AIG’s head of financial planning and analysis (P&C), Americas, who is Lemonade’s chief financial officer.

Lemonade, which is set to launch fully in the first half of this year, claims to be the world’s first peer-to-peer insurance carrier. While similar ventures have been launched in Europe, they tend to be managed by brokers as opposed to being a fully regulated insurer with the requisite security.

The company has been guarded on exactly how its offering will work simply stating that it will harness “the power of behavioural economics and the sharing economy, delivering to consumers an insurance experience that is instantaneous, un-conflicted and downright delightful”.

Sagalow expanded on this to a certain extent but the exact nature of the company’s offering remains a mystery. He told Intelligent Insurer that the business will work as expected by pooling the premiums of individuals in a similar way to a mutual or P&I club might work.

But he stressed that there will also be big differences between these business models and what Lemonade is offering. And in contrast to other peer-to-peer products that have been launched elsewhere, any policy will be guaranteed by the carrier, which will also have the ability to purchase reinsurance.

He also stressed that this company, unlike some other peer-to-peer launches in other sectors, has chosen to engage with and embrace the regulators early on in the process. “We took a very different view; we want that understanding and certainty from the start,” he said.

Outside the detail of the venture’s offering, however, Sagalow is energised by the idea of applying the disruptive concept of the sharing economy to the insurance industry for the first time. Using the analogy of the way in which Wikipedia obliterated the need for hard bound encyclopaedias, he said this could revolutionise the industry in an un

via www.intelligentinsurer.com