In the M&A sector, Inszone has acquired Butler Insurance Services and Alliance Business & Commercial Insurance Services. Howden Broking Group has acquired Arctic Insurance AS, and Majesco has acquired Decision Research Corporation. Tech updates include Fixle partnering with Evolv Inspection Solutions, Citizens upgrading to Guidewire InsuranceSuite, and Lockton adopting Artificial’s Contract Builder. In insurance investments, Hyperexponential closed a $35 million round and Gallatin Point Capital is buying a majority stake in TRUE with a $1.25 billion investment.
Key takeaways:
- Tesla's Q4 2023 report shows a 38% increase in deliveries, totaling 1.81 million cars, led by the Model 3/Y. The first accident involving a Cybertruck occurred on December 28, 2023.
- Amazon is facing allegations of 'quiet firing' through stringent office-return policies and demotions. The company has also been slow to focus on Generative AI until it influenced business deals.
- The New York Times is suing OpenAI and Microsoft for using its content in AI training, alleging disproportionate use of the Times’ content without specifying damages.
- Several acquisitions and partnerships have taken place in the insurance sector, including Inszone's acquisition of Butler Insurance Services and Alliance Business & Commercial Insurance Services, and Howden Broking Group's acquisition of Arctic Insurance AS.