There have been two notable funding rounds by insurtechs this week.
Workers’ compensation provider Pie Insurance has raised $118 million in new funding, including financing from Allianz and others.
Snapsheet, a claims management platform insurtech, raised $30 million in new financing. The Ping An Global Voyager Fund and Pivot Investment Partners led the financing.
Pie said it will use the funds for further investments in technology and automation. The company also plans to grow the company’s core workers’ compensation business and begin to offer new products in the coming months.