Hippo insuretech agrees to $5 billion merger with Reinvent Technology Partners Z

Insurance News Hippo insuretech has announced that it will be merging with SPAC #insurancenews

This makes the insurance business the latest of many to fuse with special purpose acquisition companies. Hippo insuretech has announced that it will be merging with special purpose acquisition company (SPAC) Reinvent Technology Partners Z. The deal has valued the Californian insurance technology company at about $5 billion. Hippo Enterprises first launched in 2015. The Hippo insuretech sells homeowners insurance directly to consumers, promising fast quotes in a minute or less and the ability to purchase a policy within 5 minutes. Once the transaction closes, the insurance technology company will…

Read More

Clerity Solutions provides mainframe migration, upgrade, and optimization services for 21st Century Insurance

Clerity Solutions, a provider of mainframe modernization, migration, and optimization services, has announced that it was selected by 21st Century Insurance – a part of the Farmers Insurance Group of Companies – in order to update and migrate its legacy mainframe application which operated for many years on a mainframe. Clerity was chosen when it was the only service provider that showed that it was capable of offering a complete rehost of the full legacy system, which included the programs for CA Easytrieve Plus. Through the use of the UniKix…

Read More