2021: A year of big insurtech deals

December 28, 2021 6:51 AM

With COVID-19 and insurtech, there's a bit of a "chicken and the egg" phenomenon going on. The insurtech sector barely slowed down during the pandemic from an investment perspective. Is that because the pandemic spurred the industry to action and deploy more digital services to meet customers' demands? Or is it simply the natural progression toward digitalization that we're seeing across industries? Either way, insurtech leveled up in a big way this year, and here are some of the big deals that shook out as a result.

USAA acquires insurtech Noblr to launch new UBI product

USAA is acquiring the insurtech Noblr and will use the company's usage-based insurance platform for a new offering. Read more here.

Lemonade to acquire Metromile

Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares at a ratio of 19:1. Metromile went public via SPAC earlier this year. Read more

Cambridge Mobile Telematics acquires TrueMotion

The buy adds TrueMotion’s 150 employees to CMT’s team, as well as a number of clients including Progressive, Farmers and Travelers. The newly combined company boasts more than 20 clients among the top 25 U.S. insurance companies. Read more

American Family acquires Bold Penguin

American Family Insurance's holding company has acquired the small commercial insurance distribution insurtech Bold Penguin, it announced. Bold Penguin will become a subsidiary of American Family. Read more

Nathan Golia

Editor-in-Chief, Digital Insurance