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Five Things: Insurtech on the Silicon Prairie
More than 400 attendees from as far away as the United Kingdom and Japan were among the regulators, startups and insurance companies at Insurtech on the Silicon Prairie conference in Omaha.
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Gain Compliance is simplifying statutory financial filings for insurance companies
Compliance reporting for insurance companies can be an arcane, ad hoc process, full of complicated and unclear steps. The Des Moines company Gain Compliance is attempting to simplify the process by making sure paperwork is properly formatted to National Association of Insurance Commissioners guidelines. How Gain Compliance works No one likes filing for their taxes,…
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Drive Spotter secures $750,000 in seed round
Video analytics startup Drive Spotter has announced the completion of a $750,000 seed round, led by Grinnell Mutual Reinsurance. Drive Spotter was founded in 2015 by Chris Augeri and Andrew Prystai. Their platform allows commercial fleet managers to query dash cams and telemetry to prevent accidents. The company is positioning itself to ultimately take advantage…
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ClaimKit raises $1.8 million, led by Flyover Capital
Insurance data analysis startup ClaimKit has secured $1.8 million in funding, according to a press release. The round was led by Flyover Capital, as well as the Mid-America Angels and other unnamed angel investors. “The Flyover team brings a wealth of knowledge to the table and the entrepreneurial mindset that fits well with our team,” said Chris…
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Global Insurance Accelerator announces 2016 class
The Global Insurance Accelerator out of Des Moines has announced five teams for its second class, which include regional, national and international startups in the insurance industry. The teams include: Smart Drivinc (St. Louis, Missouri): Distracted driving and crash prevention app Fluttrbox (Montreal, Canada): Property assessments via aerial drone images WeSavvy (Dublin, Ireland): Health insurance app that pays…
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Benaissance has been acquired by WEX for $80 million
Omaha-based Benaissance has announced they have been acquired by WEX, a corporate payment solutions provider, for $80 million. The deal is currently awaiting regulatory approval but is expected to close in Q4 of 2015. WEX expects the purchase to be slightly accretive in 2016, according to a press release. Benaissance has had an ongoing relationship with Evolution1, a WEX…
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How Benaissance successfully navigated Obamacare
In fall of 2009, John Jenkins and Mark Waterstraat were anxiously watching the Affordable Care Act debate unfold, knowing it could potentially sink their company. Jenkins and Waterstraat had created Benaissance in 2006 around processing COBRA-compliant insurance payments for employers. (COBRA allows employees leaving a company to remain on their company’s health plan for a period of time.)…