FinTech news in lemonade category

Publicly traded Lemonade has laid off about 60 employees of Metromile, the auto insurtech company it recently acquired – adding to the volatility the technology sector has seen over the past 18 months.

Ranger will launch in the fall, and offer home insurance, auto insurance and a home warranty policy that it is underwriting itself as an MGA — in other words, the startup won’t be carrying the risk itself, but partnering with a carrier for its own policies. Ranger is today announcing the close of a $5.25 million seed round led by Lerer Hippeau Ventures, with participation from Alex Rodriguez, Firstminute Capital, Slow Ventures, Global Founders Capital, Raven1 Ventures and, of course, Montauk Ventures. Garrison spent 15 years in the insurance business (at AIG) and saw how neglected agents are at legacy insurance companies. Rather than spend a ton on marketing, Ranger is focused on giving agents (who are boots on the ground in the communities they serve) tools to respond more quickly to customers, generate better leads, maximize cross-sell to other products and personalize client services.