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About Intact
Industries
Venture Capital
Social Impact
Financial Services
Company Size
10,001+
Company Stage
IPO
Headquarters
Toronto, Canada
Founded
1809
Overview
Intact provides a variety of insurance products, including home, auto, and business insurance, primarily in Canada, with additional operations in the UK and Ireland. The company focuses on climate resilience and community well-being, aiming to enhance customer experience through digital engagement, with 75% of its customers actively using digital services. Intact generates revenue by underwriting insurance policies and managing claims, relying on premiums and investment income. Unlike many competitors, Intact is also committed to investing in early-stage companies that specialize in data and artificial intelligence to foster innovation. The company's goal is to achieve a 10% growth in Net Operating Income Per Share (NOIPS) annually and maintain a Return on Equity that exceeds industry standards.
Simplify's Take
What believers are saying
- Intact's acquisition of RSA Group PLC expands its market presence in the UK and Ireland.
- The integration of telematics in auto insurance can improve customer satisfaction and retention.
- AI-driven underwriting processes enhance risk assessment, leading to competitive insurance products.
What critics are saying
- Increased competition from insurtech companies like Coterie pressures Intact to innovate.
- The acquisition of Jiffy Home App may pose integration challenges and disrupt customer service.
- The retirement of key executives like Mathieu Lamy could lead to leadership gaps.
What makes Intact unique
- Intact focuses on climate resilience, enhancing its appeal in environmentally conscious markets.
- The company invests in early-stage AI and data firms to drive innovation.
- Intact's digital engagement strategy includes acquiring Jiffy Home App to improve customer experience.
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Funding
Total Funding
$2346.7M
Above
Industry Average
Funded Over
1 Rounds
Company News
Venn, the all-in-one financial platform built for Canadian businesses, has raised $21.5 million in a Series A funding round led by Left Lane Capital,
Intact Financial Corporation has acquired Jiffy Inc., Canada's leading home maintenance app, to expand its services across Canada. This acquisition aims to enhance Intact's digital engagement with customers and improve customer experience. Jiffy connects homeowners with local service professionals for various tasks and has completed over 450,000 jobs with a 96% five-star rating. The partnership will also support Intact's efforts in building climate-resilient communities.
Urban Jungle, a London, UK-based insurance technology startup, raised $14M in funding
Coterie announces fundraise of $27M in new capital investment, putting the amount the insurtech has raised to over $102M.
Loading. Loading...SAN FRANCISCO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Shepherd , an insurance tech platform for commercial construction, announced today it raised a $13.5 million Series A funding round led by Costanoa Ventures with participation from Intact Ventures, Era Ventures, Greenlight Re and Spark Capital. Shepherd combines insurance together with software to help contractors save on premiums. The company will utilize the funds to expand its underwriting and software team, accelerate product development and scale its software offerings."There is an urgent need for innovation in the commercial construction insurance industry," said Justin Levine, CEO of Shepherd. "Our mission at Shepherd is ambitious but simple: to create the first comprehensive platform that combines top-tier insurance offerings with world-class software to help commercial businesses manage risk and prevent losses."Shepherd combines insurance capacity with fast underwriting, risk management software and a construction software marketplace to streamline tedious processes and workflows
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About Intact
Industries
Venture Capital
Social Impact
Financial Services
Company Size
10,001+
Company Stage
IPO
Headquarters
Toronto, Canada
Founded
1809
There are no jobs for Intact right now.
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Intact