SøNws

Hello. Yesterday I was on a call with a new client. There were two Matts. There were two Matteos. It reminded me of this: Fewer Women Run Big Companies Than Men Named John. The good news is there’s been progress: And yet, as is often the way, plenty of progress still to go. Right, let’s get into it. We’re hearing these terms more and more. What’s the difference? Which to choose? Why is any of this important to insurance? Read this. It’ll all become beautifully clear.

In the ever-evolving landscape of the insurance industry, engaging with external innovators is a must. That bit is well recognised and accepted. But which strategy to choose – open innovation or venture clienting? And why? This article takes look into both and touches on the key differences between the two.

New client kick offs. A lot of Londoning. Plus a tonne of new opportunities coming our way. It definitely feels like a pivotal year for Sønr. Maybe for the industry more broadly. There’s a very real sense that venture clienting and open innovation are here to stay. We’re noticing a shift in budgets being reallocated toward getting the strategy and thinking right.

The last on the funding side is Sunairio, which has secured $6.4m. Using high-resolution climate data combined with good old GenAI, their platform simulates energy asset risks and grid variability to help energy companies manage the complexities of renewable energy and climate change. And a couple of interesting job-related announcements I clocked this week.

From big fish to little(er) fish Big news isn’t just confined to the big brands with a series of funding rounds for interesting super-early stage ventures. If you’ve been keeping abreast of the investment news, it’s a part of the insurtech market that’s been pretty resilient, is pretty diverse and pretty attractive in terms of insurer’s dollars, so one to keep track of. If you need a hand with that then give us a shout 😉 Where to start? How about supporting underserved communities?

Right, it’s that time. Let’s get into some insurance innovation news. Who doesn’t love that on a Friday? This one I love. Six years ago, Valentina Agudelo was in college in Columbia. Whilst researching for an entrepreneurship competition she identified a troubling gap in breast cancer survival rates between LatAm and the developed world. Women dying due to late detection. And so she went on a mission to change that, shortly after setting up Salva Health.

As the industry undergoes transformation, emerging risks and changing client needs demand collective efforts to close coverage gaps and find new solutions. The article highlights the importance of partnerships between insurers, brokers, and startups.

The collaboration will make it easier for customers to access accident, health, life, and a few ancillary products through 123Seguro’s digital platform. Nice. Another LatAm announcement this week came from Osigu – a provider of AI-powered healthcare revenue cycle and claims management solutions. These guys have raised $25m Series B funding which will go towards enhancing real-time payment solutions, easing the financial stress on healthcare providers with timely and accurate reimbursements. Nice.

Just so good. And the result? Well, hey. You’ve got a dream client, amazing tech cos, and an outrageously well prepped Sønr team. Naturally, it was pretty freaking brilliant 👊🏻 If you’d like to know more about how we run these sessions, . If you’d like to know more about what Travelers are working on. Not a chance. What happens in Vegas stays in Vegas…n’ all that. A comment I heard a few times this week was a sense that fewer new insurtechs were being launched.

Zing Health was founded in 2019, born out of the American Medical Association‘s Health 2047 innovation lab. Since 2023, it has become one of the fastest growing Medicare Advantage plans in the US. Heading East and Israel’s Air Doctor has raised a $20m Series B. I’ve covered these guys a fair bit in the past – they connect travellers with local doctors through a mobile (and web) platform, offering medical assistance in 84 countries.