Reinsurance News
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Verisk acquires German InsurTech SV Krug
26th April 2023
Global data analytics and technology provider Verisk has announced that it has acquired Krug Sachverständigen GmbH (SV Krug), a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. Founded in 1982, SV Krug offers highly digitalised solutions that help insurers and car manufacturers to achieve better ... Read the full article
Insurtech Ledgebrook raises $4.6m in funding
26th April 2023
Ledgebrook, an insurtech managing general agent (MGA) for wholesale brokers, has announced it has raised a $4.6m round of funding. The Boston-based company intends to use these funds to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings. It is also looking to build ... Read the full article
Swiss Re partners with insurtech Benekiva on digital claims management
25th April 2023
Swiss Re Reinsurance Solutions has formed a strategic partnership with Des Moines-based insurtech Benekiva to develop an integrated claims management platform. The partnership will aim to combine Benekiva's claims administration system with Swiss Re's Claims Automated Rules Engine and expertise in risk management. The Integrated Claims Management Platform will support digital claims ... Read the full article
Insurtech Blink Parametric launches flight disruption solution in US
11th April 2023
Blink Parametric has expanded its partnership with MGA AwayCare to provide a real-time flight disruption solution to US travellers worldwide. AwayCare led the initiative to provide its Flight Delay service to US-based Travel Insured International (TII). TII will make the AwayCare Flight Delay service, managed by Blink Parametric, available within select plans ... Read the full article
Arch Insurance acquires insurtech Thimble
11th April 2023
Arch Insurance has expanded its suite of digital solutions with the acquisition of Thimble, an insurtech platform for small business customers and agents. Since May 2018, Thimble has delivered more than 170,000 policies to small businesses across the United States, and works with a variety of carriers including Markel and Employers. Following ... Read the full article
Lloyd’s Lab reveals insurtechs for Europe-focused cohort
29th March 2023
Re/insurance marketplace Lloyd’s has announced the 13 insurtech firms set to join the 10th cohort of its innovation hub, the Lloyd’s Lab, which will include a focus on the European market this time around. For this cohort, the insurtechs were selected based on solutions geared towards three themes: European Digital and ... Read the full article
Fenix24 gets funding from insurtech investor Eos Venture Partners
21st March 2023
Cyber disaster recovery firm Fenix24 has announced a $5 million investment by Eos Venture Partners, a prominent insurtech investor. Fenix24, a sister company of Conversant Group, provides a professional cybersecurity force focused exclusively on restoring companies after cyber breach events. The firm states that Eos' investment will support it in serving additional ... Read the full article
Microinsurance Network adds insurtech veteran to Board
13th March 2023
The Microinsurance Network (MiN) has announced that InsurTech veteran Michele Grosso, is joining its Board of Directors. Grosso is the Co-Founder and CEO of Democrance, a global InsurTech firm that has a mission to make insurance accessible and affordable for those who are in need of it the most, particularly in emerging ... Read the full article
Altai Ventures launches $53mn fintech & InsurTech fund
27th February 2023
Altai Ventures, an early-stage venture capital firm has closed a $53 million fintech and InsurTech fund. Bain Capital Ventures, Century Equity Partners invested in the fund alongside a number of limited partners across P&C insurance, life insurance and retirement, insurance brokerage, and commercial banking. The fund will focus primarily on the North ... Read the full article
SCOR expands partnership with insurtech Concirrus
14th February 2023
SCOR has announced an expansion of its partnership with Concirrus, which will see the insurtech replace SCOR's existing data model, enabling the French re/insurer to more accurately price future risks within its marine line of business. The two firms first announced their working relationship in 2022 when SCOR began harnessing ... Read the full article
Insurtech funding slumps by 57% in Q4: Gallagher Re
2nd February 2023
New data from reinsurance broker Gallagher Re shows that global insurtech investment declined by 57.0% to $1.01 billion in the fourth quarter of 2022, when compared with the previous quarter. According to the broker’s Global InsurTech Report, this means that insurtech funding is at its lowest quarterly point since Q1 2020. The ... Read the full article
Hiscox partners with reinsurtech Supercede
1st February 2023
Specialist global insurer Hiscox has partnered with reinsurtech software specialist Supercede for all 2023 outwards reinsurance placements. According to the announcement, this partnership will drive operational efficiencies and simplify complex placements for broker partners. Supercede’s reinsurance tools will allow Hiscox to capture data and confirm order terms to their broking partners and ... Read the full article
Zurich leads series B funding round for cyber insurtech BOXX Insurance
1st February 2023
Toronto-based insurtech BOXX Insurance has announced a $14.4 million Series B funding round, bringing the total amount raised in the last 16 months to $24.5 million. Zurich Insurance led the latest funding round, with Jack Howell, CEO of Zurich Global Ventures, commenting, "We've seen how difficult it is to build cyber ... Read the full article
Insurtech Betterview raises new funding round
30th January 2023
Betterview, an insurtech company that allows insurers to identify and manage real property risk, has announced it has completed a new round of funding of undisclosed amount. Backers included existing investors EMC Insurance, Guidewire Software, Nationwide, MaidenRE, and ManchesterStory. The company intends to use the funds to continue its growth, support the ... Read the full article
New marine hull model launched by AI insurtech
20th January 2023
AI insurtech Concirrus, has announced the launch of its new Marine Hull Market Model, which it describes as its most sophisticated marine insurance risk model yet. According to the announcement, the Market Model uses the insights derived from Concirrus’ growing cohort of clients to deliver a view that could not be ... Read the full article