Reinsurance News
automation
Munich Re’s automation insurtech eyes mid-tier market
16th October 2019
Munich Re Group's specialist insurtech subsidiary, Munich Re Automation Solutions Ltd, is set to bring its auto-underwriting expertise to the global mid-tier insurance marketplace with one of its SaaS-enabled solutions, ALLFINANZ SPARK. SPARK operates as a hosted service, and provides mid-tier companies with the chance to automate their underwriting processes, explore ... Read the full article
AI technologies the “future of employment” for re/insurers, says Quantemplate CEO
6th March 2019
Artificial intelligence (AI) and machine learning technologies should not just be viewed as a short-sighted cost cutting tool, but rather as the “future of employment” for re/insurance companies, according to David Lundgren, CEO of financial tech firm Quantemplate. Speaking in an interview with Reinsurance News, Lundgren noted that efficiency and cost ... Read the full article
Re/insurers shouldn’t fear replacement by technology: Beazley CEO Horton
3rd December 2018
The re/insurance industry is facing a major disruption by technology, but new capabilities such as automation will ultimately complement, rather than replace, the work done by re/insurers, according to Andrew Horton, Chief Executive Officer (CEO) of Beazley and Chairman of the London Market Group (LMG). “We’re definitely facing a disruption by ... Read the full article
Hiscox partners with Eigen Technologies to automate claims processes
10th August 2018
Hiscox, the specialist insurer, has partnered with Eigen Technologies, a global provider of natural language processing (NLP) technology, to automate multiple internal processes using machine learning driven classification and extraction technology. Two collaborative pilots are currently underway that make use of Eigen’s NLP platform to address the challenges of unstructured qualitative ... Read the full article
Tokio Marine co-leads $90mn funding for Metromile start-up
24th July 2018
Tokio Marine Holdings and Intact Financial, a North American property and casualty (P&C) insurer, have co-led a $90 million Series E funding drive for Metromile Inc., a San Francisco based car insurance start-up that utilises a pay-per-mile model and fully automated claims experience. Metromile said it plans to use the funds ... Read the full article
XL Catlin develops new solutions for autonomous technology industry
16th May 2018
XL Catlin has developed a new insurance solution that supports the design, development, testing, and implementation of autonomous technologies, and has established a new Global Autonomy Centre of Excellence. Available globally, the new solution aims to provide cover for all sectors of the autonomous technology industry, and can be tailored to ... Read the full article
QBE invests in machine learning tech firm Hyperscience
9th May 2018
QBE Insurance Group has announced that its venture capital arm, QBE Ventures, has closed an investment into machine learning tech firm Hyperscience, and has entered into an agreement to roll out its solutions across QBE globally. Hyperscience uses artificial intelligence (AI) to develop solutions for automating office work across verticals like ... Read the full article
Motor premiums must reflect improved safety from tech advances
29th November 2017
Using Tesla as a case in point, GlobalData has underlined the need for motor premium pricing in the UK for owners of vehicles that are equipped with the latest technological advances, such as autopilot, to reflect the improved safety of driving. Elon Musk's U.S. automotive and energy storage company, Tesla, is ... Read the full article
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