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Reinsurance News

InsurTech news

Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.

QOMPLX secures 12 US tech patents in 2019

10th January 2020

QOMPLX, an intelligent decision platform provider startup formerly known as Fractal, has announced that it was awarded 12 US patents for innovations in 2019. The patents, which span cybersecurity, insurance, finance and data infrastructure, allow QOMPLX a 20-year period of exclusivity to the technologies. The most recent patent, issued on December 24, ... Read the full article

Insurtech start-up fund Brewer Lane Ventures launches

10th January 2020

Brewer Lane Ventures, a fund focused on investing in insurtech start-ups, has announced its launch, and the appointment of key members of its team. The company was founded by John Kim, the former President and Chief Investment Officer at New York Life Insurance Company. Also joining Brewer Lane Ventures is Managing Partner ... Read the full article

Hiscox partners with Concirrus to drive digitalisation

8th January 2020

Hiscox London Market, one of the oldest Lloyd's of London syndicates, has entered into a partnership with InsurTech Concirrus in an effort to deliver progressive, analytics-based underwriting. Under the terms of this new multi-year deal, Hiscox is to embed Concirrus' behaviour-based data analytics platform, Quest Marine Hull. An announcement on the deal ... Read the full article

WTW & eBaoTech to provide one-stop insurance middle office platform

7th January 2020

Global re/insurance broker Willis Towers Watson (WTW) has entered into a new partnership with digital insurance solution provider, eBaoTech, to offer a bundled solution designed to accelerate digitisation across the industry. This new collaboration sees WTW's Radar Live rating engine integrate with eBaoTech's middle office platform, InsureMO, which is specifically designed ... Read the full article

Auto start-up Clearcover raises further $50mn in funding

7th January 2020

Auto insurance start-up Clearcover has raised $50 million in a Series C round of funding, led by OMERS Ventures. This brings Clearcover’s total funding to more than $104 million since its 2016 founding, following a Series B round in January 2019 that raised $43 million. As part of the funding arrangement, Michael ... Read the full article

Finding new talent critical to advancing insurtech: EY

31st December 2019

Re/insurers agree that finding new talent is critical to build on investments in technology and digital transformation, but attracting and retaining will require better communication and more customer-centric approaches, according to analysts at EY. As part of a new report, EY noted that re/insurance industry growth had remained stagnant for another ... Read the full article

ZhongAn eyeing insurtech expansion in Asia, belt & road countries

30th December 2019

China’s largest online-only insurer ZhongAn sees as an abundance of opportunities to export insurance technology across Asia and various Belt and Road countries. Bill Song, Chief Executive Officer of ZA Tech Global Limited, an operating entity established by ZhongAn, has noted the firm’s strong track record in China in terms of ... Read the full article

Insurtech Neptune Flood adds Jean-Luc Eckstein as Executive Director

24th December 2019

Neptune Flood Incorporated, an insurtech firm focused on the flood market, has announced the appointment of Jean-Luc Eckstein as Executive Director. He joins Neptune Flood from CDW, a Fortune 500 technology solutions provider, where he served as International Client Strategy Manager, overseeing a team responsible for cross border technology sales. In his ... Read the full article

New tech unlocks opportunities for SME insurance: Goldman Sachs

16th December 2019

Technological developments are increasingly enabling large re/insurance companies to overcome challenges that had previously prevented them from making more inroads into the small commercial market (SME) space, according to Goldman Sachs. Analysts noted that the SME insurance marketplace is seen as an attractive segment for larger companies due to its more ... Read the full article

AXA XL partners with insurtech Slice, Microsoft on cyber solution

13th December 2019

AXA XL, the property and casualty and specialty risk unit of AXA, is partnering with cloud-based insurtech firm Slice Labs to help improve the cyber resilience of Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers. The collaboration, aimed at servicing small to medium sized businesses, will give ... Read the full article

CoreLogic integrates HOVER 3D tech into underwriting platform

10th December 2019

Property information and analytics provider CoreLogic has announced the integration of HOVER property measurement and 3D technology into its 'UnderwritingCenter' platform for insurance clients. Via the HOVER app users are able to send images of a property and receive accurate measurement, including the total living area down to the inch, as ... Read the full article

Liberty Mutual taps big data via new insurtech partnership

9th December 2019

Liberty Mutual’s National Insurance operation has announced that it plans to harness big data capabilities via a new partnership with Intellect SEEC, the insurance software division of fintech firm Intellect Design Arena. Through this relationship, Liberty Mutual underwriters and risk managers will gain automated access to thousands of third-party data sources, ... Read the full article

Re/insurance held back by innovation inertia, says expert panel

5th December 2019

Innovation represents a huge opportunity for the re/insurance industry, but has been held back by complacency and an “insidious form of inertia,” according to a panel of market experts. These comments came as part of a discussion on the direction and pace of innovation and technology in re/insurance at a recent ... Read the full article

Arch’s Aaron Woodhams joins iprism as underwriting manager

4th December 2019

Technology-driven underwriting agency iprism has announced the appointment of Aaron Woodhams to the newly created role of underwriting manager, effective immediately. Woodhams joins from Arch’s Lloyd’s Syndicate 2012 and brings over 20 years’ experience to the role. He will be responsible for leading iprism’s operational underwriting function, applying pricing strategy and managing ... Read the full article

Hyperion X opts for Reltio Cloud to enhance data capabilities

4th December 2019

Hyperion X, the data and technology focused unit of the global Hyperion Insurance Group, has selected software as a service (SaaS) provider Reltio Cloud as the core client data platform to power its data and analytics capabilities. The company believes Reltio Cloud will enable it to better personalise product and service ... Read the full article

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