Reinsurance News
Artificial intelligence in insurance and reinsurance news
Read all of our news on the growing use of artificial intelligence technologies in the insurance and reinsurance industry.
Artificial intelligence (AI) promises to enhance risk modelling and data analytics capabilities for insurers and reinsurers, while also offering new ways to deliver insurance and reinsurance products and support customers as well.
In addition to the use of artificial intelligence (AI) to enhance underwriting and operations, insurance and reinsurance market participants are also increasingly focusing on product development to provide risk transfer protection to support the AI and tech data centre build-out, seeing this as a significant and growing opportunity.
NEXT Insurance to enhance underwriting processes with ZestyAI partnership
18th February 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has partnered with commercial insurer NEXT Insurance to bring AI- powered risk insights to small business insurance. Under this agreement, NEXT will adopt ZestyAI’s Z-PROPERTY and Z-FIRE models to enhance its underwriting processes with precise, property-level risk insights. Attila Toth, CEO of ... Read the full article
AI-driven Earnix Copilot launches to boost productivity and business performance
18th February 2025
Earnix, a global provider of AI-based SaaS pricing and rating solutions for financial services, has announced the launch of the Earnix Copilot, “Alix”, created to enhance productivity and performance with artificial intelligence. “This generative AI-driven agent is designed to supercharge decision-making within the Earnix platform, driving exceptional business outcomes and unmatched ... Read the full article
2025, the year GenAI delivers real value to the re/insurance industry: Capgemini’s Denninger
17th February 2025
2025 will be the year when GenAI starts delivering real value in the re/insurance industry, particularly in customer service, but also in other areas, according to Adam Denninger, Global Insurance Industry Leader at Capgemini. Denninger recently spoke with Reinsurance News in an interview, discussing a variety of topics, particularly AI and ... Read the full article
McGill and Partners launches AI agent
17th February 2025
Specialty insurance and reinsurance broker McGill and Partners has launched its own AI agent, becoming the first broker in the London market to leverage Agentic AI technology through Salesforce’s AI system, Agentforce. The AI agent is integrated into Underscore, the firm’s proprietary digital platform, which connects distribution partners with London market ... Read the full article
Global InsurTech funding fell to a seven-year low in 2024: Gallagher Re
13th February 2025
Global InsurTech funding fell to a seven-year low in 2024, declining 5.6% year-over-year from $4.51 billion in 2023 to $4.25 billion in 2024, according to a recent Gallagher Re report. This data is from Gallagher Re's Global InsurTech Report, the fourth and final instalment in its 2024 series on AI’s role ... Read the full article
Re/insurance CEOs seeing efficiency gains from GenAI: PwC
12th February 2025
As per PwC's 2025 Global CEO Survey, 54% of insurance CEOs are reportedly seeing efficiency gains in their employees’ time from generative artificial intelligence (GenAI), while 27% of Insurance CEOs and 36% of banking and capital markets CEOs said they have witnessed revenue increases from GenAI. Despite this, the firm's latest ... Read the full article
Room for wider and deeper AI adoption among re/insurers: Craig Campestre, Earnix
11th February 2025
In an interview with Reinsurance News, Craig Campestre, Chief Revenue Officer at Earnix, highlighted that the insurance and reinsurance industry can do more to adopt artificial intelligence (AI), emphasising the need for deeper integration, improved governance, and the rise of roles like Chief AI Officer. While progress has been made, Campestre ... Read the full article
Cytora launches latest version of its digital risk processing platform
10th February 2025
Cytora, a provider of AI-powered solutions for insurers, has released Cytora Platform 3.0, the latest version of its digital risk processing platform, which enhances capabilities by harnessing agentic AI. As per Cytora, Version 3.0 digitises any transaction, regardless of size and complexity, with zero training required, enabling insurers to digitise their ... Read the full article
Poll suggests re/insurers to prioritise AI and machine learning in 2025
7th February 2025
As the re/insurance market progresses into 2025, the industry is prioritising innovation to stay ahead, with a high percentage (55%) focusing on AI and machine, a recent Reinsurance News poll has revealed. This emphasis on AI and machine learning reflects the growing recognition of its transformative potential in areas such ... Read the full article
Concirrus AI-driven technology achieves near 100% submission accuracy
6th February 2025
Concirrus, an AI insurtech company, has surpassed industry standard in submission ingestion, combined with instant rating and quoting capabilities, with its new innovative technology that aims to transform specialty underwriting. The new technology improves quote-to-bind ratios by combining unparalleled accuracy with near-instant quoting capabilities, Concirrus explained. This represents a fundamental shift in ... Read the full article
Cowbell launches new unit to support US businesses against AI-driven threats
5th February 2025
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has launched the Cowbell Resiliency Services (CRS) unit to complement its existing risk management program. The unit was created in response to a rise in the frequency, severity, and diversity of cyber threats. Simultaneously, the unit also aims to tackle sophisticated ... Read the full article
CatX launches AI-powered parametric platform
5th February 2025
CatX, the digital marketplace connecting re/insurers and brokers with alternative capital, has launched Catamaran Parametric, a new AI-powered platform designed to simplify parametric protection. The platform leverages artificial intelligence (AI) to guide users through a comprehensive risk management process, transforming a traditionally manual, time-consuming task into an intuitive, data-driven experience. Catamaran Parametric ... Read the full article
AI opportunities for insurance industry are real and meaningful, says Aon CEO Case
31st January 2025
In an interview with CNBC at Davos 2025, Greg Case, CEO of Aon, emphasised that the opportunities presented by artificial intelligence (AI) are “real and meaningful” for the insurance and reinsurance industry. During the interview, Case also acknowledged the significant challenges posed by volatility, noting that these can be overcome through ... Read the full article
Solvency, reserving and risk management are key focuses for Bermudian life insurers in 2025: BILTIR CEO
24th January 2025
Suzanne Williams-Charles, Chief Executive Officer (CEO) of Bermuda International Long Term Insurers and Reinsurers (BILTIR), has stated that key expectations for 2025 across Bermuda is for long term insurers, specifically, to continue to maintain strong solvency, have strong reserving, as well as having a key focus on risk management on ... Read the full article
Generali & MIT collaborate to research AI-based applications
24th January 2025
Italian insurer Generali has launched a research collaboration with the Massachusetts Institute of Technology (MIT) to explore practical applications of Artificial Intelligence (AI) and how it can provide competitive advantages to the insurance industry. From January 2025, Generali and its various business units will work with three MIT research teams to ... Read the full article
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