Insurtech
Why Cooley
Cooley’s in-depth experience in insurtech, both regulatory and commercial, enables us to confidently represent our clients in a comprehensive range of transactional and regulatory insurance matters involving insurers, reinsurers, insurance producers, other insurance-related intermediaries, financial institutions, venture capital firms, and insurance-based technology companies around the globe.
Our lawyers’ understanding of the complexities surrounding insurance transactions and regulatory compliance runs the full spectrum of the business life cycle – from formation and early stage structuring, to growth, multi-investor and late-stage financings, transition from an insurance producer to insurance carrier, and potential IPOs.
In addition to our core services for insurance industry clients, we frequently draw upon the corporate, cyber and data privacy, employment, securities, tax, banking, competition, intellectual property and financial services practices and are well-placed to advise insurtech businesses of all kinds.
Cooley is a thought leader in insurtech and emerging risks, regularly publishing in both trade and popular outlets and presenting at conferences on both business and legal issues that relate to the insurtech sector as well as on developments in NAIC, state, federal and international insurance laws and standards.
Our capabilities include:
- Multijurisdictional formation, authorization and licensing of insurers, reinsurers, insurance producers, captives, third-party service providers and other insurance-related intermediaries
- Mergers and acquisitions of, and investments in and by, insurance companies, insurance producers and other entities regulated under insurance laws
- Regulatory compliance, including on holding company act, excess and surplus lines, investment law, advertising, rebating and compensation issues
- Advising insurance and non-insurance focused companies on embedded insurance solutions
- Regulatory guidance on issues relating to emerging technologies, such as big data, artificial intelligence, app-based insurance offerings and the sharing economy
- Restructuring insurance companies, both insolvent and solvent, using customized arrangements
- Representing companies in enforcement actions by insurance regulators and financial and market conduct examinations
- Product development and policy wordings for innovative insurance solutions
- Corporate governance and directors' duties
- Privacy, data protection, information security and compliance with US privacy laws and GDPR
Representative Matters:
- AIG on various commercial and technology procurement projects and data protection issues relating to the launch of its consumer-facing travel insurance app
- Allianz Digital Corporate Ventures in its Series A investment in Quantemplate Technologies Limited
- BenRevo in convertible note financing and insurance regulatory matters
- Boost Insurance in general corporate matters
- Carpe Data in data/privacy, technology transactions and insurance regulatory matters
- InsureTech in general corporate matters
- Jetty National in its Series Seed investment, Series A financing, general corporate matters and trademark counseling
- LeaseLock in its formation, general corporate matters and insurance regulatory matters
- Matic Insurance in general corporate matters, Series A preferred stock financing, convertible note financing, Series A-2 preferred stock financing and Series B preferred stock financing
- Metromile, a digital insurance platform, to combine With INSU Acquisition Corp. II, a Special Purpose Acquisition Company (SPAC)
- Munich Re $250 million investment in Next Insurance
- Pie Insurance Holdings in general corporate and formation matters and convertible note financing
- Root in its $724 million IPO
- Sure in insurance regulatory and technology transactions matters