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Digital Insurance Platform Honeycomb Launches in North America

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Honeycomb, a platform providing property insurance via a digital platform, has raised $3.3 million in funding from Phoenix Insurance, New Era Capital Partners, IT-Farm Corporation and NFP Ventures, according to a release.

Honeycomb, previously operating under the name Agilius, is a managing general agent (MGA) for commercial real estate insurance serving condo owners, HOAs, landlords etc.. Honeycomb says its data-driven AI-based underwriting is the first to provide customized right-priced policies through an intuitive online interface that allows customers to rate-quote-bind in minutes. The funding follows the announcement ot its launch in North America.

Itai Ben-Zaken, co-founder and CEO of Honeycomb, explained that while personal insurance has advanced, commercial is stuck in the past:

“Insureds purchasing HOA insurance shouldn’t have to deal with manual forms, long underwriting reviews, weeks of waiting, or documents being passed from customer to broker to underwriter and back for every change. That’s where we are changing things. With Honeycomb, there’s no more manual underwriting or lack of quality data points, no more paper forms and no more endless back-and-forth emails. Through our online platform and AI-powered remote inspection application, it’s never been easier or more efficient for COA/HOAs, condo owners and landlords to get quick and fair pricing.”

Honeycomb states that it is partnering with brokers across the U.S., so customers have the choice of purchasing insurance through an agent or directly on the website.

Online customers are said to receive real-time options after answering questions about their property. The policy can become effective immediately with up to seven days to complete the remote inspection through the Honeycomb app.

Adam Blumencranz, Vice President at NFP Ventures, noted that multi-family property insurance is one of the most inefficient markets for insurance. Policies tend to be complex and too small for a manual underwriting process.

Honeycomb is now available in Illinois followed by five additional states by the end of 2021.

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Source: https://www.crowdfundinsider.com/2021/06/176908-digital-insurance-platform-honeycomb-launches-in-north-america/

Blockchain

GK8, Securrency to Aid Tokenized Security Compliance

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Digital asset cybersecurity company GK8 has partnered with Securrency, a Fintech and Regtech firm which tokenizes securities, equities, and commodities. GK8’s enterprise-grade end-to-end custodial solution will be available to Securrency’s clients as Securrency creates a global ecosystem built around a universal, interoperable compliance core. While institutions are… Read More

The post GK8, Securrency to Aid Tokenized Security Compliance appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/08/178783-gk8-securrency-to-aid-tokenized-security-compliance/

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Crowdfunding

Whiplash: Robinhood Files Registration Statement to Sell 98 Million Shares, Price Drops

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It has been a volatile week in trading for shares in Robinhood (NASDAQ”HOOD). Following a tepid initial public offering, last week that saw shares drop below its IPO price of $38, shares in Robinhood rocketed higher – at one point trading above $80 a share. Today,… Read More

The post Whiplash: Robinhood Files Registration Statement to Sell 98 Million Shares, Price Drops appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/08/178796-whiplash-robinhood-files-registration-statement-to-sell-98-million-shares-price-drops/

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Crowdfunding

Chip Shortage Impacting Payment Card Industry: Report

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More than one billion payment cards are at risk of not being issued over the next 18 months due to a chip shortage, ABI Research reports. That total includes 347 million in 2021 and up to 740 million in 2022 “Although not necessarily getting the… Read More

The post Chip Shortage Impacting Payment Card Industry: Report appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/08/178786-chip-shortage-impacting-payment-card-industry-report/

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Crowdfunding

This Week, SharesPost and Forge Global Start Operating as One

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In the spring of 2020, SharesPost and Forge Global announced a merger of the two firms seeking to create a super-sized private securities marketplace. It was reported that Forge had paid $160 million for SharesPost. At that time, Kelly Rodriques, CEO of Forge, said that: “… joining… Read More

The post This Week, SharesPost and Forge Global Start Operating as One appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/08/178790-this-week-sharespost-and-forge-global-start-operating-as-one/

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