Reinsurance News
AI
News and analysis on the use of artificial intelligence (AI) within the insurance and reinsurance industry.
Increasingly, the insurance and reinsurance market is adopting artificial intelligence (AI) to enhance its operations and make them more efficient, as well as in developing innovative new products and operating models for underwriting insurance and reinsurance risks.
Charles Taylor InsureTech reveals autonomous AI agents to enhance insurance customer experience
8th July 2025
Charles Taylor InsureTech, a technology partner to the insurance industry, has introduced autonomous AI agents — known as agentic AI — as part of its initiative to modernise customer service and streamline core insurance operations through artificial intelligence. Agentic AI stands apart from traditional generative AI by carrying out real-time tasks ... Read the full article
Accenture invests in Reserv to drive growth in claims ecosystem
26th June 2025
Professional services firm Accenture has invested in Reserv, an insurance claims processing company that complements deep claims expertise with AI-driven solutions through Accenture Ventures, with the terms of the transaction undisclosed. The investment will enable the pair to collaborate on claims solutions which are more accurate and efficient, helping underwriters and ... Read the full article
Tokio Marine HCC teams up with Adaptive Insurance to launch short-term power outage coverage in 18 states
24th June 2025
Adaptive Insurance, a company focused on climate resilience using AI and data to offer climate-based parametric insurance, has entered a partnership with Tokio Marine HCC (TMHCC), a specialty insurance group based in Houston, Texas, and part of the Tokio Marine Group. With TMHCC’s financial backing and specialty insurance experience, Adaptive Insurance’s ... Read the full article
Testudo launches AI insurance underwriting platform backed by Lloyd’s Lab
18th June 2025
Lloyd’s of London-backed start-up Testudo, part of Lloyd’s Lab innovation accelerator, has launched a new data and technology platform aimed at underwriting insurance policies for risks associated with artificial intelligence. Testudo, a company incubated through several legal and enterprise accelerators and supported by investors including LocalGlobe and Goldman Sachs partners, seeks ... Read the full article
hyperexponential research highlights differences in AI strategy and governance between UK and US insurers
17th June 2025
New findings from Insurtech provider hyperexponential (hx) show that data ingestion is the most commonly adopted AI application in the insurance sector, with 95% of UK and 89% of US insurers incorporating it into their operations. The study, which surveyed 350 professionals in underwriting, actuarial, and IT roles across the Specialty ... Read the full article
US insurers plan to more than double AI investments over the next 3-5 years, according to Wipro
16th June 2025
Wipro Limited, a provider of AI-powered technology services and consulting, has released a report which shows that AI spending is set to grow significantly within insurers’ IT budgets. The study, "The AI Advantage: Building Tomorrow’s Insurance Enterprise," surveyed 100 senior executives from US insurance companies with annual revenues above $500 million ... Read the full article
UK financial institutions set sights on growth as Lloyds highlights sector’s investment potential
16th June 2025
UK commercial banking group Lloyds has highlighted the growing role financial institutions could play in supporting the country’s long-term development, as firms prepare to expand and invest across key areas such as AI, digital infrastructure, and workforce skills. “The insurance sector is evolving fast – from life insurers expanding through pension ... Read the full article
Howden Re and UCL School of Management receive £200k for AI project targeting reinsurance processes
16th June 2025
Howden Re, the reinsurance and advisory division of Howden, and the UCL School of Management have been awarded £200,000 in government funding through a Knowledge Transfer Partnership (KTP), and the project is co-funded by Innovate UK and Howden Re. The partnership will focus on developing AI tools intended to update how ... Read the full article
Gallagher Re reveals leaked data as a strong predictor of cyber insurance claims
16th June 2025
Reinsurance company Gallagher Re, through the expertise of its authors James Poynter, William Gildea, Mohit Motwani, and their Cyber Analytics team, presents a comprehensive analysis of how technographic data can be leveraged to enhance underwriting in commercial cyber insurance. Their research focuses on the development and application of the Technographic Insight ... Read the full article
Majesco report urges shift from legacy models to future-ready foundations
13th June 2025
Majesco, a provider of cloud-based insurance software, has released a new Thought Leadership report, Strategic Priorities 2025: A New Operating Business Foundation for the New Era of Insurance, which outlines why a shift away from legacy operating models and outdated technology is necessary to meet the needs of a rapidly ... Read the full article
Swiss Re flags extreme heat as deadliest natural hazard in latest SONAR report
12th June 2025
Swiss Re, a reinsurance company, has issued a warning in its newly published 2025 SONAR report: extreme heat now poses a greater threat to human life than floods, earthquakes, and hurricanes combined. The annual report, which monitors emerging risks affecting insurers and global systems, positions extreme heat as a primary concern ... Read the full article
Untapped potential of AI in the insurance sector: Genpact
11th June 2025
Despite 69% of insurance companies having adopted AI, only 36% of US customers report improved digital experiences, highlighting the industry’s ongoing challenge to effectively scale AI to enhance customer experience and drive growth, according to a report by Genpact, in collaboration with Amazon Web Services (AWS). The research is based on ... Read the full article
Markel to accelerate underwriter insights with mea AI platform expansion to Canada
28th May 2025
Insurer and reinsurer Markel is expanding mea Platform’s generative AI (GenAI) solution to Canada, where it will be applied across Markel Canada’s underwriting operations to automate the extraction of unstructured data from submission-related documents. This move follows the successful deployment of the solution within Markel’s London Wholesale operations. The re/insurer initiallyRead the full article
CLARA Analytics reveals breakthrough in early insurance fraud detection
28th May 2025
CLARA Analytics, a provider of artificial intelligence technology for commercial insurance claims optimisation, has released new research demonstrating that advanced machine learning can identify signs of potential fraud just two weeks after a claim is filed—dramatically ahead of traditional fraud detection timelines. Published in November 2024, the study analysed 2,867 property ... Read the full article
Cyber risk and environmental issues lead reputational concerns in 2024/25: WTW
27th May 2025
Willis, a WTW business, has released its Reputational Risk Readiness Survey 2024/25, highlighting a sharp rise in concerns around cyber threats and environmental challenges among global senior executives. Of the 500 respondents, 65% identified cyber risk—especially cyber-attacks—as the most significant threat to their organisation's reputation, an increase from 52% in 2023. Environmental ... Read the full article
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