XL INNOVATE HELPS MARINE INSURTECH RAISE $16.5M

Israeli insurtech firm Windward has raised $16.5m in its latest round of financing, according to media reports. The investment round was led by XL Capital’s insurtech fund XL Innovate and brings the total raised by Windward to $39m. As part of the investment XL Innovate managing partner Tom Hutton will join Windward's board of directors. The company plans to use the capital to hire staff and expand its sales office in London. Windward collates shipping data and uses artificial intelligence and risk analytics to help insurers assess and price marine risks.