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Reinsurance News

InsurTech news

Munich Re and Bosch partner for Industry 4.0 and IoT

22nd February 2018

Global reinsurance giant Munich Re has signed a cooperation agreement with international technology and service company Bosch, in an effort to develop new solutions for connected manufacturing in Industry 4.0. The agreement was signed on February 22nd, 2018 at the Bosch ConnectedWorld conference, and is the first Internet of Things (IoT) ... Read the full article

Cryptocurrencies need regulation before they could materially impact reinsurers: S&P

21st February 2018

As cryptocurrencies gain traction within financial markets, bringing the potential to infiltrate the traditional financial systems and expose re/insurers to the possibility of a bubble burst, S&P stated in a report that cryptocurrencies would need some regulation before they could have a major impact on the financial markets. Analysts believe the ... Read the full article

18 companies join The Institutes RiskBlock Alliance blockchain consortium

21st February 2018

The Institutes RiskBlock Alliance has announced that 18 companies have joined the risk management and insurance industry’s first enterprise-level blockchain consortium. The RiskBlock Alliance seeks to leverage the blockchain to lower industry transaction costs while increasing the speed and security of data transfers among customers, industry stakeholders, and third parties. RiskBlock Alliance ... Read the full article

Insurtech industry board set up with UK government support

21st February 2018

A new Insurtech Board has been set up as part of the Tech City UK and UK government backed Fintech Delivery Panel, to provide a focus on making the UK a key hub for insurance technology start-ups, investing and developments. The Fintech Delivery Panel, which was established at the request of ... Read the full article

Zurich launches UK Innovation Foundry

20th February 2018

Zurich has launched a new initiative to tackle changing customer demands and help drive change throughout its operations, the UK Innovation Foundry, set to be led by Mark Budd, UK Head of Innovation. The Innovation Foundry will progress Zurich’s innovation agenda and support the development of all ideas in a formally coordinated ... Read the full article

AI can deliver more efficient client value: Dan Glaser, MMC

19th February 2018

Marsh & McLennan (MMC) President and Chief Executive Officer (CEO) Dan Glaser discussed the role of Artificial Intelligence (AI) in both disrupting and advancing the re/insurance industry, noting its potential to improve data use and drive more efficient value to customers, in a recent interview with A.M. BestTV. Commenting on how ... Read the full article

InsurTech success lies in “identifying scalable niches & looking beyond insurance”: IBM

19th February 2018

Re/insurers should look for opportunities to harness new technologies that increase customer interaction value, improve agility and add flexibility in product development through InsurTechs, IBM advised in a recent study. The banking and transport sectors have already undergone a widespread shift with the ecosystem model smashing traditional paradigms, and whilst being ... Read the full article

Lloyd’s to launch technology Innovation Lab

15th February 2018

Lloyd's of London has announced that it will be launching an Innovation Lab later this year, as the market looks to develop advanced technology solutions to meet its rapidly changing needs. The Innovation Lab will allow Lloyd's to test new concepts, design advanced technology solutions to solve market issues and give ... Read the full article

Munich Re utilises Starmind’s AI to transform knowledge management

13th February 2018

Global reinsurance giant Munich Re is working with Starmind to transform and improve the reinsurer's knowledge management through advanced technology and artificial intelligence (AI). Starmind's technology is designed to expand human ingenuity by applying neuroscientific principles to AI, and reinsurer Munich Re is looking to transform its knowledge management via a ... Read the full article

PartnerRe and Farmers Edge team up to close agricultural insurance gap

13th February 2018

Global reinsurance firm PartnerRe has teamed up with agricultural technology and decision software specialists Farmers Edge in a multi-year partnership that aims to help insurers to close the agricultural insurance gap across all continents. The four-year agreement brings together precision farming technology and agricultural insurance in a deal that the pair ... Read the full article

iXledger and InsChain partner for peer-to-peer insurance in China

13th February 2018

London headquartered blockchain technology startup iXledger, which collaborates with reinsurer GenRe, and Chinese blockchain insurtech start-up InsChain are partnering to bring peer-to-peer insurance products to Chinese consumers. iXledger said that the partnership will enable it to expand its services into China and the region, enabling acceptance of iXledger’s Utility Token, IXT, ... Read the full article

SoftBank investment in Swiss Re would be credit positive: Moody’s

12th February 2018

According to rating agency Moody's, a minority investment from technology, telecommunications and investment giant SoftBank would be credit positive for reinsurer Swiss Re. The news broke last week that Swiss Re and Japanese tech conglomerate SoftBank have been in talks discussing a minority investment in the reinsurer. An intriguing proposition, as ... Read the full article

Swiss Re in talks with SoftBank Group over investment stake

8th February 2018

Zurich headquartered reinsurance giant Swiss Re is in talks with Japanese tech conglomerate and telecommunications specialists SoftBank Group over a minority investment in the reinsurer, the company confirmed late yesterday. The Wall Street Journal broke the news, saying that Swiss Re is in advanced talks to sell SoftBank what could be ... Read the full article

Physical activity a “powerful predictor” of mortality risk: Munich Re

5th February 2018

A Munich Re study has found strong evidence that physical activity, as measured by steps per day, is a powerful predictor of mortality and may be especially effective in identifying high mortality risk for sedentary behaviour. Munich Re assessed the effectiveness of physical activity - as measured by wearable sensors - in ... Read the full article

Digital ecosystems create opportunities for insurer’s expansion in mobility market

1st February 2018

McKinsey & Company highlighted opportunities for insurers to secure their mobility market position through expanding their digital ecosystems at a time when increasing numbers of stakeholders are using the growing digital economy to disrupt traditional players, in a report on digital ecosystems and platforms in insurance. With a passive and limited relationship ... Read the full article

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