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.
Armilla reveals purpose-built AI liability insurance amid rising legal and regulatory pressures
9th May 2025
Armilla Insurance Services, a specialist managing general agent and Lloyd’s Coverholder focused on emerging technologies, has launched a new AI Liability Insurance policy designed specifically to address the growing legal and operational risks tied to artificial intelligence. Underwritten by select underwriters at Lloyd’s, including Chaucer, the policy delivers explicit, affirmative coverage ... Read the full article
Aon warns business leaders of compounding risks from AI, climate change, and trade disruption in 2025
7th May 2025
Aon, a global professional services firm, has released its Client Trends 2025 report, emphasising the growing interdependence of four powerful forces—Trade, Technology, Weather, and Workforce—that are shaping the operating environment for organisations worldwide. The report draws on Aon’s extensive capabilities in both risk capital and human capital to explore how these ... Read the full article
Xceedance forms strategic partnership with FurtherAI to transform commercial insurance
2nd May 2025
Xceedance, a provider of insurance consulting, technology, operations, and data solutions, has partnered with FurtherAI, a rapidly growing company specialising in AI Assistants designed for the commercial insurance sector. The collaboration aims to support insurers in modernising their operations by combining cutting-edge artificial intelligence with Xceedance’s in-depth expertise in implementation and ... Read the full article
Ceto to use $4.8m investment to expand data-driven marine insurance product
2nd May 2025
Ceto, a platform that provides predictive analytics for the maritime industry, has secured $4.8 million from its latest fundraising round to start its data- driven insurance product and support its ongoing global expansion. The round was led by Dynamo Ventures, with participation from Howden Ventures, Signal Ventures, and Motion Ventures. The marine ... Read the full article
US Insurers surpass UK counterparts in confidence and strategy around AI: hyperexponential
30th April 2025
New research conducted by hyperexponential (hx), a provider of pricing decision intelligence software for the insurance industry, suggests a growing transatlantic divide in the adoption of artificial intelligence (AI). While both UK and US insurers recognise the promise AI holds for the sector, hyperexponential’s findings reveal that US firms are moving ... Read the full article
Earnix to acquire GenAI platform Zelros
29th April 2025
Earnix, the artificial intelligence (AI) platform for insurance, has signed a definitive agreement to acquire Zelros, a generative AI player for insurers and banks. Through combining Earnix’s advanced predictive AI platform with Zelros’s GenAI recommendations engine, the move aims to bring predictive, generative, and agentic AI across risk decisioning, personalisation, and ... Read the full article
Cowbell introduces Prime One Tech in the UK to support cyber and PI needs of growing tech sector
24th April 2025
Cowbell, a cyber insurance provider focused on small to medium-sized enterprises and the middle market, has introduced Prime One Tech in the UK. This new offering combines professional indemnity and cyber coverage, built specifically for technology companies generating up to £1 billion in annual revenue. Policy limits are available up to ... Read the full article
ZestyAI expands access to insurance coverage with AI-powered risk analytics
23rd April 2025
ZestyAI, a provider of AI-driven insurance risk analytics, played a key role in helping carriers and insurers of last resort extend coverage to over 511,000 properties previously considered uninsurable in 2024. In the coming year, the company aims to double its impact, providing coverage options to more than a million families ... Read the full article
Chaucer and Armilla launch new AI liability insurance product
23rd April 2025
Chaucer Group, a global specialty insurance and reinsurance group, has partnered with Armilla AI, a provider of specialised insurance and risk management solutions for AI, to launch a new standalone third-party liability (TPL) insurance product. The new product addresses the evolving risks of mechanical underperformance in AI systems and models, along ... Read the full article
Lloyd’s backs BreachBits with strategic investment to strengthen cyber risk management
16th April 2025
Lloyd's, the insurance and reinsurance marketplace, has made a strategic investment in BreachBits, a cyber risk innovation company founded by former US military cyber warfare veterans. This marks Lloyd's third investment in cutting-edge solutions from alumni of its Lloyd's Lab, following BreachBits' successful participation in the accelerator program's 13th cohort, which ... Read the full article
Optalitix joins forces with SortSpoke to enhance underwriting efficiency
15th April 2025
Optalitix, a technology company specialising in data analytics and automation for the insurance industry, has announced a new partnership with SortSpoke, an AI-powered document processing platform. This collaboration enables underwriters to extract essential data from complex submissions five times faster, with full accuracy. Through this partnership, insurers will be able to process, ... Read the full article
CLARA Analytics and Guidewire integration delivers millions in claims savings for insurers
14th April 2025
CLARA Analytics, a provider of artificial intelligence (AI) solutions for claims optimisation, has announced that its integration with Guidewire ClaimCenter has delivered measurable success, significantly enhancing claims workflows and financial outcomes for insurers. One longstanding CLARA customer has already seen remarkable benefits from the combined solution. With CLARA’s AI-driven insights now embedded ... Read the full article
Cytora partners with Vāyuh to strengthen climate risk assessment for property insurers
10th April 2025
Cytora, a digital risk processing platform, has entered into a partnership with Vāyuh, an AI-driven weather forecast and climate analytics company. This collaboration will seamlessly integrate Vāyuh’s advanced climate and weather data models into Cytora’s platform, providing property insurance underwriters with enhanced risk analytics and more accurate risk scores to assess ... Read the full article
Broker Insights launches major update to VISION platform
9th April 2025
Broker Insights, a provider of insurance data analytics and market intelligence, has revealed a major update to its insurance decision intelligence platform, Broker Insights VISION. 2024 marked a milestone year for Broker Insights, with Gross Written Premium (GWP) on the VISION platform soaring by 87% in just 12 months. Originally launched in ... Read the full article
Insurance sector could add up to £59bn to UK annual GDP with gen AI by 2038: Accenture
7th April 2025
Growth in the insurance sector driven by generative artificial intelligence (gen AI) has the potential to inject up to £59 billion to the UK annual Gross Domestic Product (GDP) by 2038, according to a recent report by Accenture. According to the "Generating Growth: How Generative AI can power the UK's reinvention" ... Read the full article
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