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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.

IA Capital Group raises $150mn for insurtech-focused venture capital

4th April 2019

IA Capital Group, an insurtech-focused venture capital firm, has announced that it has raised $150 million across three funds, representing its sixth, seventh and eight investment vehicles. The funds include: Inter-Atlantic Stonybrook Insurtech Ventures, a multi-LP fund focused on P&C insurtech Inter-Atlantic; G Fund, a single-LP fund focused on life/annuity/retirement insurtech; ... Read the full article

Advent appoints Jack Smith as Head of Operations

1st April 2019

Advent Insurance Management, the InsurTech-led Lloyd’s & London market service provider, has appointed Jack Smith as Head of Operations, a newly created role. Smith, whose appointed is effective immediately, brings over 35 years’ experience to Advent. He will be based in the company’s Chelmsford offices. Prior to Advent he worked for Tasker ... Read the full article

AXA-backed insurtech Sayata Labs launches with $6.5mn in funding

26th March 2019

Sayata Labs, a new insurtech start-up focused on cyber risk assessment for insurers and SMBs, has announced today that it has launched with $6.5 million in seed funding. The Tel Aviv-based company is already partnering with re/insurance broker AXA to enhance its cyber risk capabilities, while Israeli venture capital firm Elron ... Read the full article

AI insurtech omni:us adds Joost Heideman as strategic advisor

26th March 2019

omni:us, an insurance-focused artificial intelligence (AI) solutions business, has appointed Joost Heideman as strategic advisor to help drive its global expansion plans. Heideman has more than 25 years experience in the insurance industry and was until January 2019 Chief Executive Officer of Dutch mutual insurance company Univé. In his new role, Heideman ... Read the full article

B3i raises a further $16 million, shuffles board

26th March 2019

According to reports, the Blockchain Insurance Industry Initiative (B3i) now has total capital of more than $22 million, after raising a further $16 million over the last month. Corporate registry filings in Switzerland reveal that just over half, approximately $8.34 million, was raised in the form of cash, with the remainder ... Read the full article

Technology is Swiss Re’s solution to market challenges: Ojeisekhoba

25th March 2019

Swiss Re views the integration of new technologies as both a critical opportunity for growth and the solution to many of the challenging market conditions that have tested the re/insurance industry in recent years. This is according to Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re, who told Reinsurance News that ... Read the full article

Concirrus adds former Munich Re Exec Dieter Berg to Board

25th March 2019

London-based insurtech Concirrus has added former President of the International Union of Marine Insurance, Dieter Berg, to its Board as Non-Executive Director. Berg served across a number of senior positions at Swiss Re before joining Munich Re as an Executive Manager in 2001. He would go on to serve in a ... Read the full article

USAA joins Roost’s smart-home telematics program

21st March 2019

USAA, a provider of insurance for U.S military personnel, has joined the Home Telematics Program (HTP) of Roost, a California-based company that specialises in smart-home technology. Operating in partnership with broker Willis Towers Watson, the HTP applies advanced analytics to produce insights regarding the effect of home telematics on loss mitigation ... Read the full article

Spanish insurers focusing on tech as growth opportunities shrink: A.M. Best

20th March 2019

Spanish insurers are increasingly utilising technology to cross-sell products and target niche markets as growth opportunities both domestically and abroad continue to shrink, according to analysts at A.M. Best. The rating agency concluded that the Spanish insurance sector remains profitable, but margins are under pressure and the low interest rate environment ... Read the full article

Chaucer enters marine insurtech partnership with Concirrus

19th March 2019

Chaucer, the specialty international (re)insurance group, has announced a new partnership with insurtech firm Concirrus, which is focused on driving technological change in the marine insurance market. The partnership will enable Chaucer to benefit from the use of Concirrus’ Quest Marine platform, which analyses billions of historical and real-time data to ... Read the full article

Arch Insurance International invests in personal lines MGA Archipelago

19th March 2019

Arch Insurance International has announced an investment in Archipelago Risk Services Limited, a tech-driven managing general agency (MGA) backed by underwriting capacity from Arch Insurance (UK) Limited. The Archipelago platform is a trading system that supports personal lines business by helping distribution partners grow and manage their client accounts through automation ... Read the full article

AXA unit eyes blockchain for faster, more secure job loss policy payments

18th March 2019

AXA Partners, a unit of global insurer AXA, is teaming up with the Swedish government’s Public Employment Service and the startup Stratumn on a blockchain-based solution aimed at accelerating and simplifying the payment of job loss policies. AXA Partners says the solution will significantly shorten the claim process duration, remove administrative ... Read the full article

Insurtech INSTANDA adds Swiss Re’s Trevor Davis as Managing Director

18th March 2019

INSTANDA, a cloud-based digital insurance platform, has appointed former senior Swiss Re executive Trevor Davis to the newly created role of managing director, effective immediately. Davis was previously Chief Executive Officer (CEO) of Swiss Re’s Life and Pensions operation and has over 20 years’ experience in the Life, Pensions and Health ... Read the full article

Aon to offer AI, machine learning tools with new InsurTech partnership

14th March 2019

Global re/insurance broker Aon has struck a strategic alliance with Zesty.ai, an InsurTech startup which uses Artificial Intelligence (AI) and machine learning to process satellite imagery, data from aircraft, physical characteristics of properties, building permit data and energy consumption data in order to generate granular risk analysis of buildings and ... Read the full article

InsurTech set to revolutionise data collection, analysis: Fitch

13th March 2019

The biggest near-term impact of InsurTech will be its ability to revolutionise how insurers collect, access and analyse data, Fitch Ratings analysts believe. For property/casualty (P/C) insurers, Fitch says telematics will be the differentiator as data generated from devices is the single most predictive loss indicator available. The availability of more accurate ... Read the full article

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