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The brand’s retirement slated for next year is emblematic of a broader shift in InsurTech.
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The startup also offers up to $4mn of general liability cover online and sells business owner policy packages.
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CEO Julian Teicke said the new hub will become the “most interesting and most profitable” part of their business.
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Arceo.ai hires John Soughan, Michael Phillips of Allianz Global Corporate & Specialty (AGCS) and Sam Lisi, a product manager at Beazley.
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The former Zurich EMEA CEO adds another non-executive role.
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The Canadian pension fund makes its first foray into InsurTech with the investment in the Berlin company.
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The product features fixed payment for a terrorism event within the insured’s post code, irrespective of physical damage.
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The funding is understood to give Apax a small partial exit from its three-year-old majority shareholding.
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A past industry critic of Root has shifted to a more optimistic view of the company’s future.
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The motor insurer also attracts investment from new backers RTP Global, Breega and Digital Horizon.
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Donavan’s arrival follows the appointment of former Aspen Insurance CEO Mario Vitale as president in September.
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Chile riots exposure, premium growth at Lloyd's, MS Amlin departures, and more.
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