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.
Tractable AI’s Aleksander Surowiak joins Previsico as Head of Sales
10th April 2024
Live flood forecasting Insurtech Previsico has hired Tractable AI's Aleksander Surowiak as Head of Sales to bolster Previsico’s growth and nurture pivotal partnerships across the insurance industry. Surowiak brings a vast degree of startup scaling experience towards the role, having previously spearheaded sales in Northern and Central Europe at Tractable AI. Previously, ... Read the full article
Novidea raises additional $30m from HarbourVest Partners
9th April 2024
Global insurtech Novidea has raised an additional $30 million from HarbourVest Partners, bringing its total Series C round to $80 million, joining existing investors Battery Ventures, Cross Creek, Israel Growth Partners (IGP), KT Squared, and JAL Ventures. Throughout the past few years, the insurtech has witnessed major growth, selling to insurance ... Read the full article
Faura raises $500k to help insurers better understand their portfolio risk
2nd April 2024
Insurtech Faura has successfully raised $500k to help insurance companies and homeowners reduce their natural disaster risk. Cities throughout the US have been impacted by natural catastrophes, like wildfires in Maui and flooding across the Northeast and Florida, in recent years; disaster activity that only keeps growing. This has left ... Read the full article
Coterie secures $27m in new capital investment from Hiscox and others
20th March 2024
Coterie Insurance, an insurtech managing general agent (MGA), has recently secured $27 million in new capital investment from Hiscox, alongside various existing investors. Expressing gratitude for this investment, David McFarland, CEO of Coterie, states, "We're incredibly grateful for the recognition and belief in how we're reimagining the small commercial insurance space ... Read the full article
Insurtech Carrot partners with LGI Indonesia to develop BBI solution
20th March 2024
Carrot General Insurance, a South Korean digital insurance company, has partnered with Lippo General Insurance (LGI), Indonesia to develop a Behaviour Based Insurance (BBI) solution. Drawing on its extensive data capabilities and experience, Carrot aims to create essential systems to support LGI's introduction of the BBI product in Indonesia. This involves developing ... Read the full article
bolttech expands into Middle East through partnership with stc Group
15th March 2024
bolttech, an international insurtech firm, recently announced its expansion into the Middle East through a new partnership with stc Group, a telecommunications company in the region. Rob Schimek, Group Chief Executive Officer at bolttech, expresses his enthusiasm for this strategic collaboration: “stc Group is an ambitious digital leader, always striving to ... Read the full article
Inigo enhances risk management with Insurwave’s real-time technology
12th March 2024
Insurwave, an insurtech platform, has recently announced its new partnership with speciality re/insurer, Inigo. In this collaboration, Inigo will utilise Insurwave’s advanced technology and industry knowledge to establish and maintain a real-time summary of total risk exposure across its portfolio. This is particularly crucial given the escalating geopolitical uncertainty and market ... Read the full article
Concirrus launches advanced market model for marine insurance data
7th March 2024
Concirrus, an AI insurtech company, has recently announced the launch of an updated market model that is expected to bring together the world’s largest pool of marine hull claims data. To ensure alignment with market best practices, Concirrus collaborated closely with top actuaries and marine firms during the development of the ... Read the full article
Insurtech veteran Jeffrey Taylor appointed Arturo’s Chief Strategy Officer
23rd February 2024
Arturo, a property specialist offering AI-based solutions to insurers, has announced the appointment of Jeffrey Taylor as Chief Strategy Officer, as the firm prepares to expand into adjacent markets. Taylor brings a great deal of experience to this role, having worked in the industry for three decades. From 1992 to 2007, he ... Read the full article
Concirrus reports 204.6% revenue growth amidst challenging insurtech climate
21st February 2024
AI insurtech Concirrus has revealed a 204.6% surge in revenue for the fiscal year ending in December 2023, marking a pivotal shift towards profitability in the latter half of the year. This comes amidst a tumultuous period for the global insurtech sector, which grappled with a sustained decline in funding, plunging ... Read the full article
Insurtech Optalitix announces partnership with pricing platform Quantee
20th February 2024
Optalitix, an InsurTech that provides software pricing products to leading UK insurers, has partnered with Quantee, an insurance pricing platform. The two companies are working to create a solution that will enable insurers to quickly quote for business on aggregator sites, making it easier and more cost-effective to access customers. Through this ... Read the full article
AI’s potential impact on the re/insurance industry: Gallagher Re
15th February 2024
Gallagher Re, a reinsurance broker, highlights AI as a major focus of the InsurTech narrative in 2023, marking a turning point where AI gained serious traction in the re/insurance industry. According to data from Google, there has been exponential growth in AI interest across all industries since early 2023, peaking later ... Read the full article
Artificial Labs closes £8m Series A+ funding round
6th February 2024
Algorithmic underwriting insurtech, Artificial Labs has raised £8 million in a Series A+ funding round that was led by Augmentum Fintech, with participation from existing investors MS&AD Ventures and FOMCAP IV. From what we understand, Artificial Labs will use the funding to drive growth and continue its rapid expansion across the ... Read the full article
MAPFRE collaborates with Akur8 to enhance pricing capabilities
26th January 2024
Spanish insurance company MAPFRE has selected insurtech Akur8’s RISK and RATE modules to boost their pricing capabilities. According to the announcement, this collaboration will empower MAPFRE’s actuarial team to build powerful, explainable pricing models and establish a robust predictive modelling framework. Specifically developed for insurers, the RISK and RATE modules solution is able ... Read the full article
Vikas Acharya becomes insurtech ChainThat new CEO
24th January 2024
ChainThat, a London-based insurtech, has announced the appointment of Vikas Acharya as Chief Executive Officer (CEO), with immediate effect. Acharya has rich enterprise technology experience in the insurance market, and as Co-Founder of the business, he has been an integral part of ChainThat’s history, ChainThat stated. “I am extremely enthusiastic about leading ... Read the full article