After a 96% destruction of value since its flotation, two shareholders seek to replace the digital insurance company's co-founder and chairperson, who has already been replaced as CEO.
Members of the board of directors of insurtech Hippo were on the receiving end of an open letter from a "concerned shareholder group," yesterday, urging
Insurtech company Fairmatic to open Israel R&D center, raises $42m jpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jpost.com Daily Mail and Mail on Sunday newspapers.
New York [US]/ Bangalore (Karnataka) [India]/ Tel Aviv [Israel], September 1 (ANI/PRNewswire): Insurtech 2.0 company Fairmatic today destealths a unique offering that pioneers an unconventional approach to fleet insurance focused on enabling savings for safer fleets and improving road safety for all. Fairmatic is led by an all-star team including former Allstate President Jamie Trish, as its President of Insurance, and Jonathan Matus, former Android and Facebook mobile executive, as its CEO. Fairmatic also announced a USD 42 million Series A funding round led by Foundation Capital. "Fairmatic is introducing an impact-driven alternative to antiquated commercial auto insurance models: one that rewards safety and gives fleets fairness and control over costs," said Jonathan Matus, founder and CEO. "Having spent years working on making smartphone technology ubiquitous, I was deeply troubled by its unintended consequence for road safety. Fairmatic's inception is the mani