Fintech Weekly | Phase 2

The number and amount of insurtech financing have rebounded for the first time since the second half of 2021

In the third quarter of 2022, the number of insurtech equity financings was 76, an increase of 11.8% month-on-month and a year-on-year decrease of 19.1%; the total amount of publicly disclosed financing was about 14.85 billion yuan, an increase of 32.5% month-on-month and a year-on-year decrease of 29.2%. Since the second half of 2021, both the number and amount of global insurtech private equity financing have continued to decline, with the first rebound in the third quarter of 2022.

Information link:

https://baijiahao.baidu.com/s?id=1747247680494731817&wfr=spider&for=pc

Comments: In the third quarter of 2022, there will be 45 rounds of A round and previous rounds of financing, and a single round of round C rounds and later rounds of nearly 1.06 billion yuan. The early stage financing is still active, but the average single round of financing after the C round is about 1.06 billion yuan. While deploying capital to start-up companies, we do not forget to increase support for mature companies.

CTECHi Staqi received tens of millions of yuan in Series A financing to build a safe, stable and convenient emergency energy storage power station

Portable emergency energy storage power station service provider "CTECHi Starqi" has recently received tens of millions of yuan in Series A financing. CTECHi is a brand of Shenzhen Chipu Keda. Founded in 2005, Chipu mainly focuses on the research and development and sales of technical support services for lithium battery energy storage products. Starting from overseas industrial energy storage, Chipu has launched overseas portable energy storage, home energy storage and other products.

Information link:

http://www.nengyuantoutiao.com/chunen/2022/1019/113400.html

Comments: From industrial energy storage to consumer-grade energy storage such as camping and households, it is not difficult to design products. What is more important is the company's ability to extend and implement strategies from 2B to 2C. In addition to the current overseas energy crisis background, it should be A natural move.

Otonomi completes $3.4 million in financing, plans to build a blockchain-driven parametric freight platform

Parametric freight insurance platform Otonomi announced that it has closed a $3.4 million financing to build a first-to-market, blockchain-powered parametric freight platform. The company is the first to offer parametric cargo delay insurance—a fast, transparent and automated delay insurance product—that unlocks claims solutions in 45 minutes instead of 45 days, reducing administrative costs by up to 90%.

Information link:

https://www.otonomi.ai/

Comments: Otonomi has reached a technology partnership with Chainlink, and will build a parametric insurance platform using industry-leading oracle smart contracts and advanced risk data analysis. Currently, its business mainly covers finance, insurance, blockchain, Web/UX design, 6 areas of marketing and security.

Bright Health closes $175 million financing to shore up its finances

Bright Health Group has closed a $175 million funding round as the health insurer works to stabilize its troubled funding position. The company hopes to raise outside capital to keep the business afloat. The insurtech aims to break even on adjusted earnings on an interest, tax, depreciation and amortization basis by 2024.

Information link:

https://investors.brighthealthgroup.com/news/news-details/2022/Bright-Health-Group-Announces-Closing-of-175-Million-Capital-Raise-to-Support-Focused-Business/default.aspx

Comments: Founded by a group of people with extensive experience in the medical field, Bright Health launched in 2016 an innovative medical partner medical plan model that specializes in providing excellent, comprehensive medical services to the medical system. The program removes friction that traditionally exists between payers and providers, optimizing the consumer and patient experience

Children's mental health startup InStride Health raises $26 million

InStride Health, an online children's mental health service, announced that it has received $26 million in financing to provide children with medical insurance for children's mental health treatment. InStride observes patient behavior in group social interactions to stimulate patient motivation and improve learning processes, while customizing individualized treatment plans for each child based on the patient's culture, family background, and medical history.

Information link:

https://bhbusiness.com/2022/10/10/boston-based-instride-health-has-launched-with-26-million-in-new-capital-to-expand-its-virtual-pediatric-behavioral- health-company/

Comments: With the number of newborns in China falling to 10 million and children's mental health facing major challenges, InStride co-founders Dr. Mona Potter and Dr. Kathryn Boger jointly implemented the McLean Anxiety Management Project (MAMP), which mainly focuses on the Treatment is provided in small groups to study patient motivation through social observation and interaction, a proven method for treating adolescents and children with anxiety and obsessive-compulsive disorder.es only.

Insurtech company Pie Insurance closed $315 million in Series D funding 

Pie Insurance, an insurance startup serving small businesses, announced that it has completed a $315 million Series D funding round, led by Centerbridge Partners and Allianz X, and followed by investors such as White Mountains Insurance Group, Greycroft, Acrew Capital, Gallatin Point Capital and others. After this round of financing, Pie Insurance's total financing amount exceeds $600 million. The company said it would use the round of financing to expand its business scope, upgrade its technology and transform into a full-stack insurance operator.  

Information link:  

https://pieinsurance.com/ 

Comment: Pie Insurance can greatly simplify the compensation process and save time on compensation approval. Through Pie Insurance's unique algorithm, small and micro enterprises can get a compensation quote in just 3 minutes and reduce excess compensation costs by 30%. International insurance giant Allianz led the investment and will further integrate related technology services.  

Singapore-based insurtech company bolttech receives Series B funding 

Bolttech, Singapore's only homegrown insurtech unicorn, will join other shareholders in leading the round, valuing the company at approximately US$1.5 billion. BoltTech is one of the world's leading embedded insurance providers, providing businesses inside and outside the insurance industry with everything they need to sell insurance products that meet their changing insurance and protection needs in the digital age.  

Information link:  

https://www.reinsurancene.ws/bolttech-completes-series-b-round-of-fundraising/

Comment: This connectivity of the platform enables Bolttech's partners to reimagine their business models and find new revenue streams, accelerate digital transformation, and deepen customer relationships. There are also similar models of insurtech entrepreneurs in China that are starting out.  

Claim Technology partnered with Veygo to create zero-touch auto insurance claims 

Claim Technology is a claims automation processing company that provides no-code automation tools and insurtech APIs. Recently announced a partnership with Veygo by Admiral to create a zero-touch auto insurance claims experience for Veygo's customers.  

Information link:  

https://www.claimtechnologies.com/ 

Comment: The core of the intelligent claims service is small quick claims, which improves efficiency and user experience.  

AXA UK launches Moja 

AXA UK has launched Moja, a digital insurance brand for mobile users. This year, Moja will launch several online price comparison platforms and offer more insurance products in 2023. Consumers will be able to manage and modify insurance, submit claims around the clock, and provide urgent consulting services on the platform.  

Information link:  

https://www.axa.co.uk/newsroom/media-releases/2022/axa-uk-retail-launches-moja-its-new-digital-only-insurance-brand/

Comment: The UK's price comparison platform has always been at the forefront of Europe and the United States, but the previous ComparetheMarket sky-high fines also show that the government attaches great importance to hindering others' price comparison.  

Insurance broker Integrity launches InsurTech platform 

Integrity Marketing Group, an international insurance brokerage, announces the launch of its own LeadCENTER platform, dedicated to Integrity's partners and contracted agents, consultants and agencies. LeadCENTER is an on-demand online platform that connects Integrity's exclusive agents, advisors, and consumer channels, simplifying the lead acquisition and management process for agents. Agents will be able to use their lead locator tool to get leads from across the country.  

Information link:  

https://www.integrityleadcenter.com/

Taishin Bank expands payment scenarios and cooperates with Japan's BNPL "AFTEE Pay Later"

Catalyzed by the epidemic, consumer demand for payment has changed rapidly in recent years, and the trend of BNPL (Buy Now Pay Later) has also exploded. Taishin Bank is actively expanding the payment scene. On the 20th, it announced that it will cooperate with Japan's BNPL leading brand "AFTEE, Pay Later" to jointly launch the "Agreed Account Debit" payment service, bringing users a more comprehensive and convenient new payment experience.

Information link:

https://www.mpaypass.com.cn/news/202210/20153737.html

Comments: Expand cross-industry alliances to integrate marketing resources, jointly open multiple payment channels, and improve customer experience and convenience.

India to launch 75 digital banking units (DBUs)

Indian Prime Minister Narendra Modi announced on October 16 that 75 digital banking units (DBUs) will be launched in India. Modi said on social media: "People living in small towns and villages will find benefits such as transferring money and taking advantage of loans, and the digital banking sector will make it easier for citizens to access banking services." The Indian government said these new digital sectors Will increase the inclusiveness of the Indian financial system.

Information link:

https://www.india.com/business/75-digital-banking-units-in-75-districts-what-are-dbus-explained-5349775/

Comments: Behind it is the digital banking penetration strategy, which provides support and assistance with direct benefits to the accounts of the target beneficiaries.

Bank of Communications creates a new experience of "smart bookkeeping"

"Smart Bookkeeping" is the first product in the industry that was innovatively launched by Bank of Communications at the end of September 2021, with algorithm design as the core, intelligently matching corporate accounts receivable and paid-in funds, and breaking corporate account reconciliation issues. Since its launch one year ago, "Smart Bookkeeping" has effectively solved the pain point of matching the actual collection and accounts receivable of many corporate customers, and maintained the leading edge of innovative services in key pilot cities.

Information link:

http://bank.hexun.com/2022-10-10/206877207.html

Comments: "Smart Bookkeeping" can provide operating platforms on web and mobile terminals on demand, and can be embedded in the customer's own system through OpenAPI to realize data interaction. The result of the contract write-off will notify the corresponding business personnel in real time, reducing the internal communication between the front, middle and back offices of the enterprise. cost.

Shenzhen Rural Commercial Bank: The same city cloud data center is officially used, and the "cloud" of the business system is continuously promoted

Recently, Shenzhen Rural Commercial Bank's intra-city cloud data center in Jinxiu Science Park, Longhua District, Shenzhen was officially put into use. The newly built data center introduced Alibaba's proprietary cloud platform, which is the third new cloud data center after the bank's Shenzhen Luohu and Wuhan data centers.

Information link:

http://finance.jrj.com.cn/2022/10/10095037042873.shtml

Comments: At present, various commercial banks are gradually increasing the layout of the underlying scientific and technological forces, and the combination with Xinchuang will be a major trend in the future.

World Meteorological Organization publishes State of Climate Services 2022: Energy

On October 11, the World Meteorological Organization (WMO) released the State of Climate Services 2022: Energy report. The report pointed out that climate change is putting global energy security at risk, and climate action must make energy a priority. The current commitments by countries are far from enough to achieve the emissions reductions required by the Paris Agreement goals, and there is still a 70% gap between the emissions reductions required by 2030.

Information link:

https://public.wmo.int/zhans/2022%E5%B9%B4%E4%B8%96%E7%95%8C%E6%B0%94%E8%B1%A1%E6%97%A5% E6%97%A9%E9%A2%84%E8%AD%A6%E3%80%81%E6%97%A9%E8%A1%8C%E5%8A%A8

CFA Institute and BNP Paribas Asset Management Launch Global Sustainable Investment Learning Platform

On October 13, the CFA Institute (CFA Institute) and BNP Paribas Asset Management (BNP Paribas Asset Management, referred to as "BNP Paribas Asset Management") announced the launch of an ESG (Environmental, Social and Corporate Governance) online learning platform globally, aiming to promote The importance of learning ESG skills to meet the needs of financial and investment professionals to enhance ESG awareness and awareness.

Information link:

https://www.cfainstitute.org/en/about/press-releases/2022/bnp-paribas-asset-management-cfa-institute-sustainable-investing-primer

Singapore issues guidelines for businesses to reduce packaging waste

Recently, Singapore's National Environment Agency (NEA), in conjunction with more than a dozen organizations, issued the Sustainable Packaging Guidance Framework and Practice Technical Reference 109, which aims to help companies adopt more sustainable packaging methods. The seven-chapter guide covers the entire life cycle of packaging materials, from green material design to reuse and recycling

Information link:

https://www.nea.gov.sg/

Teneo releases analysis of S&P 500 corporate ESG reports for the first half of 2022

A consulting firm called Teneo analyzed ESG reports issued by S&P 500 companies in the first half of the year. According to statistics, about one-third of the reports are named "ESG report", followed by "sustainability report". In terms of report length, there is a big difference, from the shortest of 11 pages to the longest of more than 200 pages.

Information link:

https://www.teneo.com/service/esg

New BIS article provides new framework for Big Tech regulation

The Bank for International Settlements has published an article providing a new framework for the regulation of big tech companies. The first is segregation, a structured approach designed to minimize the risks posed by the group's interdependence between financial and non-financial activities by implementing specific segregation rules. Another approach is inclusion, which involves the creation of a new regulatory category for large tech groups with significant financial activity, with regulatory requirements targeting the entire group, including the large tech group’s parent companies.

Information link:

https://www.cgftedu.com/articles/details/22928

China Banking and Insurance Regulatory Commission: Shareholders, actual controllers and groups must not interfere with the business operations of financial companies

In order to further strengthen the supervision of financial companies of enterprise groups, and guide the financial companies to operate in compliance with laws and regulations and continue to operate steadily, the China Banking and Insurance Regulatory Commission revised and issued the "Administrative Measures for Financial Companies of Enterprise Groups", which will come into force on November 13, 2022.

Information link:

http://www.cbimc.cn/content/202210/14/content_469529.html

Central Bank: Promote the introduction and revision of a number of major financial legislative projects such as the Financial Stability Law

The People's Bank of China's Treaty and Law Department issued a document stating that the People's Bank of China will strengthen the thinking of the rule of law, improve the ability of the rule of law, accelerate the pace of the construction of the rule of law, and give full play to the role of the financial rule of law in solidifying the fundamentals, stabilizing expectations, and benefiting the long-term. Continue to do a good job of legislative coordination, grasp the construction of the financial legal system from an overall perspective, and promote the introduction and revision of a number of major financial legislation projects such as the Financial Stability Law, the Law of the People's Bank of China, and the Law on Commercial Banks.

Information link:

https://www.chinanews.com.cn/cj/2022/10/13/9872445.shtml

The UK Financial Services 2022 report discusses the benefits and risks of AI and machine learning

 The Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) publish a discussion paper on artificial intelligence and machine learning, as well as a research report on machine learning in UK Financial Services 2022.

Information link:

https://www.bankofengland.co.uk/news/2021/july/fca-pra-and-boe-set-out-plan-to-improve-diversity-and-inclusion-in-regulated-firms

Kailian Capital: Focusing on the trend of the times, the advantages and disadvantages of investing in the technology industry

Kailian Capital believes that under today's great changes, technological innovation is an essential element of value chain integration and industrial transformation, and contains huge investment opportunities. Equity investment will further help technology companies achieve rapid transformation. At this stage, more and more investment institutions have or are rushing into the hard technology track, the competition is more intense, and the professionalism and service standards of GP are higher. Investment should be based on the final thinking and the current situation, consider the scenario, serve LPs and investee companies, form an industrial development alliance, promote the integration and interaction of the industrial chain, realize the empowerment of industrial resources, and let professional technologies mature and land as soon as possible to complete the business. application.

Information link:

https://new.qq.com/rain/a/20221014A08QEL00

CICC Huang Haizhou: Rational return of valuation is a normal phenomenon, optimistic about the future development of A shares

Huang Haizhou, managing director of CICC and head of the stock business department, said in an interview that the recent adjustment of the heavy holdings of institutions in the early stage is relatively obvious. From the perspective of the healthy development of the capital market, some stocks with high valuations tend to be more rational. The direction of the return is a normal thing, and the market does not need to worry too much.

Information link:

https://news.cnstock.com/news,bwkx-202103-4668794.htm?from=szkxapp

Dongxing Securities gives Everbright Bank a strong recommendation rating, and profitability can be improved

Dongxing Securities released a research report on October 20 saying that it gave China Everbright Bank (601818.SH, latest price: 2.81 yuan) a strongly recommended rating. The reasons for the rating mainly include: 1) Wealth management business: continuous innovation and progress to establish a competitive advantage; 2) Everbright Cloud payment: outstanding first-mover advantage and huge user monetization potential; 3) Financial analysis: The structure continues to optimize and asset quality improves. Risk warning: Unexpected changes in regulatory policies, etc.

Information link:

 https://www.sohu.com/a/498313043_115362

Xinzhi Bio, a new member of the Beijing Stock Exchange's investment portfolio of Jinchangchuan Capital, has performed well recently

On October 10, 2022, Xinzhi Bio, a new member of Jinchangchuan Capital's North Exchange investment portfolio, was listed on the North Exchange, becoming the "first stock of scientific instruments" in the North Exchange market. Xinzhi Bio is a high-tech enterprise specializing in providing scientific experimental instruments and equipment for users in the field of life science research and industrialization. Among the nine strategic investors of Xinzhi Bio, Jinchangchuan Capital is the one with the largest number of allocations.

Information link: http://www.nbhtz.gov.cn/art/2022/10/12/art_1229019594_58930479.html

Apple to launch health insurance in 2024, media reports

According to an Oct. 18 report by Forbes, Apple will enter the health insurance business in 2024 in partnership with major payers. The chief analyst at CCS Insight predicts that the tech giant will power the new product with health data collected by the Apple Watch, such as blood pressure, blood oxygen levels, electrocardiogram readings and body temperature. Information link:

https://www.pacificprime.lat/blog/apple-to-enter-the-health-insurance-market-in-2024/

UK delays Huawei temporary ban, but will not remove 5G equipment by the end of 2027

According to reports, the British Department for Culture, Media and Sport (DCMS) announced on Thursday (13th) that restrictions on Huawei's use in the core of the network that manages sensitive data and tasks, including security and control functions, will be implemented in December 2023 instead of Effective January. The department said that Huawei's usage cap (35%) in fiber access networks has also been extended from July 2023 to October 2023. The deadline to remove Huawei from the country's 5G network by the end of 2027 has not changed.

Information link:

https://newsroom.bt.com/bts-initial-assessment-of-revised-policy-on-huawei-in-5g-networks/

U.S. Prudential Insurance Company's LINK Product End of Service

In 2018, Prudential launched its first direct-to-consumer insurance brand, LINK. The service is designed to help consumers plan their finances and build their profiles. Once the profile is created, Prudential will provide advice on life insurance, annuity insurance and investments. Today, the platform has terminated its service; the traffic of the LINK platform has not been scaled.

Information link:

https://link.prudential.com/

Ministry of Electronics and Information Technology of India publishes "Guidelines for Data Anonymization (Draft)"

The purpose of the "Draft Guidelines" is to provide comprehensive information and practical guidance on data anonymization and to enhance privacy protection through data anonymization when it is processed, published, stored or shared with other entities. The Draft Guidelines also attempt to provide standard operating procedures and checklists so that organizations and government departments can easily implement the concept of data anonymization.

Information link:

https://www.meity.gov.in/

The six major banks issued an announcement: speed up financial investment and support the real economy

On October 16, six large state-owned banks, including ICBC, Agricultural Bank, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank, and China Life Insurance issued announcements about serving the real economy and stabilizing the broader economic market. According to the announcements of each company, the credit scale of the major banks generally achieved rapid growth in the first three quarters, giving full play to their business characteristics to serve the real economy.

Information link:

https://new.qq.com/rain/a/20221017A0371Q00

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