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.
Lemonade adopts ZestyAI’s platform to enhance underwriting
17th March 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has confirmed that Lemonade, the digital insurer powered by AI, has adopted its platform to further optimise underwriting for key catastrophe perils in the US. The pair stated that their partnership reflects a shared vision for addressing increasing climate risks and ... Read the full article
AI-powered parametric insurance platform Mythen launches for nat cat risks
17th March 2025
Insurance technology veteran Sandra DeSilva has launched Mythen, an AI-powered parametric insurance platform and reinsurer specialising in natural catastrophe risks. Based in Bermuda and Texas, Mythen brings together a global team of re/insurance and technology experts, using advanced technologies to provide liquidity and coverage for risks that are traditionally difficult to ... Read the full article
DXC and ServiceNow partner to transform insurance workflows with AI
5th March 2025
DXC Technology, a Fortune 500 global technology services provider, and ServiceNow, an AI platform for business transformation, have partnered to drive innovation in the insurance industry with artificial intelligence. DXC is combining its solutions with ServiceNow's AI capabilities and workflows to introduce DXC Assure BPM (Business Process Management) powered by ServiceNow. The ... Read the full article
WTW unveils new AI-driven monitoring tool for insurers
5th March 2025
International broker WTW has launched Radar Vision, an AI-driven performance monitoring tool custom-built for insurers. The global insurance industry is facing a period of rapid change and uncertainty, driven by significant inflation, demographic shifts, and a volatile market. To succeed in this environment, WTW highlights, insurers must be able to quickly understand ... Read the full article
GFIA welcomes IAIS’ call for balanced AI supervision in insurance
25th February 2025
The Global Federation of Insurance Associations (GFIA) has responded to the International Association of Insurance Supervisors' (IAIS) draft application paper on artificial intelligence (AI) supervision, emphasising its shared commitment to ensuring AI is used responsibly while fostering innovation that benefits the insurance industry. As AI evolves rapidly, GFIA stresses the need ... Read the full article
European insurers face rising costs and regulatory challenges with AI governance: Fitch Ratings
21st February 2025
Fitch Ratings, a global credit rating agency, reports that the European insurance sector will face rising regulatory challenges and associated costs as the European Insurance and Occupational Pensions Authority (EIOPA) embarks on a public consultation to refine AI governance and risk management practices. Launched on 12 February 2025, the consultation will ... Read the full article
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
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