Lemonade, started in late 2016, says it has digitized the entire insurance process, replacing brokers and paperwork with algorithms. It says it provides insurance policies to homeowners and renters in as little as 90 seconds and claim payments in three minutes.The IPO values Lemonade at $1.6 billion. That is less than the $2.1 billion it was valued at last year, after it raised $300 million in a funding round led by Japan’s SoftBank and which included insurer Allianz SE and Alphabet Inc’s venture capital arm GV. Lemonade has pursued breakneck revenue growth at the expense of widening losses.

Insurers anticipated a pandemic but could have responded better,says exec

Jul 2, 2020

David Williams, managing director of underwriting and technical services at AXA Insurance UK PLC.said the industry’s response to previous virus outbreaks, such as Severe Acute Respiratory Syndrome, or SARS, and the H5N1 avian flu strain, was “why we’ve ended up in a situation where 98% of business interruption policies in the U.K. don’t include the impacts of COVID-19.”

Another COVID-19 wave in 2nd half of 2020 could result in loss of 340 mln full-time jobs: ILO

Jul 2, 2020

Regionally, working time losses for the second quarter were: Americas (18.3 per cent), Europe and Central Asia (13.9 per cent), Asia and the Pacific (13.5 per cent), Arab States (13.2 per cent), and Africa (12.1 per cent).

Musk says Tesla is building ‘RNA microfactories’ for CureVac

Jul 2, 2020

CureVac, an unlisted German company, has said it is developing transportable, automated mRNA production units that it calls printers. They will be designed to be shipped to remote locations, where they can churn out its vaccine candidate and other mRNA-based therapies depending on the recipe fed into the machine.

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