Root
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Binkley previously served as deputy CFO, chief accounting officer and principal accounting officer. -
Lemonade and Root both reported strong Q4 results, but will need to execute plans to near-perfection to turn things around.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The executive also stepped down from the InsurTech’s board of directors on Monday.
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The move follows the carrier’s 30-point improvement in its combined ratio to 101.4% after markets yesterday.
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Inside P&C’s news team runs you through the key highlights of the week.
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CFO Rob Bateman said that loss ratio improvements and adjustments around cost structure will work to bring the cash burn down.
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Embedded partner Carvana accounted for 41% of new writings in Q4 2022, plateauing from 38% in Q3 2022 and 27% in Q2 2022.
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The InsurTech is accusing Brinson Caleb Silver and his alleged co-conspirators of executing a scheme which defrauded it of at least $9.4mn.
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On December 30, the company announced launching an investigation into a series of transactions made by a former senior employee in 2022.
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2022 marked a reversal from last year’s unprecedented levels of global investment in InsurTech as the macroeconomic scenario flipped and investors put lossmaking companies under a magnifying glass.
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Inside P&C’s news team runs you through the key highlights of the week.
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