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Greenlight Re Innovations backs title insurtech Blueprint
12th November 2021
Greenlight Re Innovations, part of Greenlight Capital Re, has invested in Blueprint, a full-stack title insurer focused on the digitalisation and integration of new technologies into the industry. More specifically, Blueprint reduces the historically-outsized expense ratios associated with title insurance by centralising underwriting and agency operations under a full-stack carrier. The company ... Read the full article
Chaucer, parametric insurtech Yokahu partner on microinsurance product
10th November 2021
Chaucer, a global specialty re/insurance group, has teamed up with parametric insurtech Yokahu on a microinsurance product aimed at providing relief following hurricane events in the Caribbean. In the event of a hurricane, Yokahu monitors wind speed at customers' location and the atmospheric pressure at the centre of a hurricane, allowing ... Read the full article
Lemonade Car launches as insurtech looks to reward low-milage drivers
3rd November 2021
AI-powered insurtech Lemonade has announced the launch of Lemonade Car, a smartphone app designed to leverage telematics in order to reward safe and low-mileage drivers. Lemonade Car is now available in Illinois with an eye on its rollout nationwide. The app promises to measure how much and how safe people drive, as ... Read the full article
Insurtech Kettle recruits Chief Distribution Officer from Ariel Re
3rd November 2021
Kettle, a reinsurance MGA start-up powered by deep learning technology, has announced the appointment of Amit Shah as Chief Distribution Officer. Shah has over 20 years experience in the industry, and joins Kettle from Ariel Re, where he was Head of Specialty. His previous experience includes working at Argo Re, Guy Carpenter, ... Read the full article
Aquiline acquires majority stake in insurtech Ripe
1st November 2021
Aquiline Capital Partners LLC, a private investment firm with a specialist focus on the intersection of technology and finance, has acquired a majority stake in Ripe Thinking Limited, a UK digital underwriting and insurance distribution platform. Ripe was founded in 1997 and serves customers across both personal and small commercial lines. ... Read the full article
Insurtech FloodFlash secures further Munich Re investment
1st November 2021
Munich Re is to provide capacity for the principal business of parametric flood insurtech FloodFlash, which aims to provide rapid-payout flood cover for SMEs and landlords. This is not the first time these two companies have crossed paths; the global reinsurer provided capacity for FloodFlash’s consultancy service in 2020. FloodFlash+ saw ... Read the full article
Insurtech set for record-breaking 2021 as investment tops $10.5bn, reports WTW
27th October 2021
2021 has now overseen a record-breaking $10.5 billion in insurtech investment raised during the first three quarters, according to a Willis Towers Watson (WTW) report. In fact, a further $12 million will ensure 2021 equals the amount of capital invested during the entirety of 2018 and 2019 combined. WTW’s report states that ... Read the full article
Saudi Central Bank drafts new insurtech regulations
22nd October 2021
The Saudi Central Bank (SAMA) has released a new set of draft rules for the insurtech sector in the country, which aim to ensure the rights of both companies and customers. SAMA says the draft rules are designed to enable insurtech firms to execute their work in accordance with a regulatory ... Read the full article
Guy Carpenter sets up insurtech Center of Excellence
20th October 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the launch of an insurtech Center of Excellence (COE) that will provide services to carriers and Managing General Agents (MGAs) powered through modern technology platforms. The insurtech COE will offer a range of reinsurance broking, advisory and analytical services, and ... Read the full article
Swiss Re eyes improved auto pricing with insurtech partnership
12th October 2021
Leading reinsurer Swiss Re is strategically partnering with traffic crash data and location risk analytics firm TNEDICCA in order for the latter's proprietary Location-Based Risk Score and location risk data to be integrated with the former's Motor Market Analyser (MMA) solution. It's hoped this partnership will enable insurance companies to more accurately ... Read the full article
Verisk invests in London insurtech HUG HUB
12th October 2021
Global data analytics provider Verisk has made a strategic investment in London based Insurtech HUG HUB in a deal designed to enable the latter to expand and enhance its platform. HUG HUB’s digital platform aims to transform the way insurers, managing general agents and brokers engage with their customers. With Verisk’s support, ... Read the full article
Swiss Re joins insurtech Getsafe’s $93m Series B
7th October 2021
Swiss Re was among the participants in the extended Series B funding round of digital insurer Getsafe, which secured another $63 million in funds, bringing the Series B total to $93 million. IptiQ, Swiss Re’s digital B2B2C provider of bespoke insurance solutions, previously led the initial Series B funding round ... Read the full article
Insurtech Cover Whale secures $15.5mn seed funding
6th October 2021
Insurtech MGA Cover Whale has announced the completion of a $15.5 million fundraising effort led by Ambac and TigerRisk Partners' Applied Financial Technologies subsidiary. Cover Whale was built on a foundation of technology, data, and machine learning analytics intended to transform the commercial auto segment and bring to market a forward-looking ... Read the full article
Neptune Flood acquires parametric insurtech Jumpstart Insurance
4th October 2021
Neptune Flood, an insurtech firm focused on the flood market, has added parametric earthquake to its portfolio of technology-based insurance products via the acquisition of Jumpstart Insurance Solutions. Jumpstart leverages a parametric trigger approach to provide a set payout based on quake intensity, which unlike traditional quake cover, enables rapid payout ... Read the full article
Plug and Play adds MGA insurtech Stere.io to Winter 2021 Cohort
23rd September 2021
Digital managing general agent-focused Stere.io has been selected by Plug and Play as one of more than 150 startups to join the innovation accelerator's Winter 2021 class. Stere launched in May 2021 and has been described as permanently changing how managing general agencies, insurtechs and program administrators resolve speed-to-market, capacity sourcing, ... Read the full article