EU insurtech, 30 years of ‘Crossing the Chasm,’ embedded finance’s endgame – TechCrunch

by Jeremy

This morning, Anna Heim and Alex Wilhelm dug into the EU insurtech market, interviewing European VCs and collating the biggest recent rounds to take the temperature of the waters across the pond:

  • Alex Timm, CEO, Root
  • Dan Preston, CEO, MetroMile
  • Luca Bocchio, partner, Accel
  • Florian Graillot, investor, Astoria. VC
  • Stephen Brittain, director, and founder, Insurtech Gateway

Several European-based insurtech startups entered unicorn territory this year, such as Bought By Many, which offers pet insurance; London-based Zego; and Alan, a French startup that raised $220 million.

According to Brittain, EU startups in this sector are “still at the very early stages of innovation,” having only shown “a fraction of what’s possible” in a market that is “as large as banking.” Interestingly, he predicted that AI will play a more significant role in the future as companies deploy it for fraud detection, improve customer experiences, and process claims more quickly. We are fully expecting the next generation of AI-driven business to unlock real-time risk analysis, pricing, and claims resolution in the next few years,” he said.

Thanks very much for reading Extra Crunch; I hope you have a safe, relaxing weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

What do these 4 IPOs tell us about the state of the market?

Earlier this week, The Exchange assessed the looming Monday.com IPO before reading the tea leaves about that flotation and three others, to sum up, the overall state of the market.

So what do the Marqeta, Monday.com, Zeta Global, and 1stDibs debuts tell us? We may have been too conservative.

Toast’s Aman Narang and BVP’s Kent Bennett on how customer obsession is everything

ECL 2021 05 26

Image Credits: Bessemer Venture Partners / Toast

On a recent episode of Extra Crunch Live, we spoke to Toast founder Aman Narang and Kent Bennett of Bessemer Venture Partners about how they came together for a deal. What makes the difference for founders and investors when fundraising, and the most significant lessons they’ve learned so far.

The episode also featured the Extra Crunch Live Pitch-Off, where audience members pitched their products to Bennett and Narang and received live feedback.

Extra Crunch Live is open to everyone each Wednesday at 3 p.m. EDT/noon PDT. Still, only Extra Crunch members can stream these sessions afterward and watch previous shows on-demand in our episode library.

AI startup investment is on pace for a record year

Alex Wilhelm and Anna Heim solicited feedback from investors to get a temperature on the market for AI startup investments. The startup investing market is crowded, expen,sive and rapid-fire today as venture capitalists work to preempt one another, hoping to deploy funds into hot companies before their competitors,” they write. “The AI startup marmaybey be even hotter than the average technology niche.”

But that’s not surprising. The Exchange was on it.

“In the wake of the Microsoft-Nuance deal, The Exchange reported that it would be reasonable to anticipate an even more active and competitive market for AI-powered startups,” Alex and Anna note. “Our thesis was that after Redmond dropped nearly $20 billion for the AI company, investors would have a fresh incentive to invest in upstarts with an AI focus or strong AI component; exits, huge transactions, have a way of spurring investor interest in related companies.”

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