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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.

SageSure names Paul VanderMarck as Chief Tech & Innovation Officer

3rd December 2019

SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of Paul VanderMarck as Chief Technology and Innovation Officer. In this role, VanderMarck will lead the teams responsible for SageSure's proprietary technology platform. He will also drive the company's broader innovation strategy, including developing partnerships with emerging ... Read the full article

Aspen’s Daniel Berry named Underwriting & Pricing Director, Coverly

2nd December 2019

Coverly, the pay-as-you-go InsurTech provider of on-demand insurance for small and medium sized enterprises, has appointed Aspen Risk Management Ltd.'s Daniel Berry as Underwriting and Pricing Director. Coverly launched in February and has since experienced significant growth, which is set to continue in 2020 with two new appointments. Berry brings 15 years ... Read the full article

The Hartford enhances Internet of Things Innovation Lab

28th November 2019

Property and casualty insurer The Hartford has expanded its Internet of Things (IoT) Innovation lab and capabilities to improve workplace safety and help reduce property damage. The company utilises network-connected devices in businesses and homes to reduce and mitigate hazards such as unsafe working conditions or water damage from broken pipes. For ... Read the full article

Hiscox expands partnership with insurtech INSTANDA

28th November 2019

Specialist re/insurer Hiscox has expanded its partnership with INSTANDA, the cloud-based digital insurance platform. This enhanced partnership is designed to build critical distribution through the deployment of the INSTANDA platform and has been extended to manage both direct-to-consumer and broker products in four countries. This announcement follows the successful launch of Hiscox’s ... Read the full article

Willis Towers Watson adds ICE InsureTech to Radar Live program

27th November 2019

Re/insurance broker Willis Towers Watson has announced that ICE InsureTech has become the latest vendor to join its global Radar Live Collaboration program. As a Radar Live collaborator, ICE Insuretech will have the ability to deploy Radar Live’s specialist insurance rating and rules solutions. Willis Towers Watson believes that its Radar Live ... Read the full article

LiquidX welcomes Great American Insurance to electronic platform

26th November 2019

LiquidX, the international network for illiquid assets, has announced the addition of Great American Insurance Group and subsidiary FCIA Management to its trade credit insurance marketplace. The recently-launched platform enables insureds to electronically and directly access the trade credit underwriting market for their insurance requirements, and is open to any interested ... Read the full article

Uber licence loss to impact insurtech sector: GlobalData

25th November 2019

The loss of Uber’s licence to operate in London could have a damaging impact on insurtech firms that have developed products for the ride sharing market, according to data and analytics firm GlobalData. Transport for London (TFL) announced today that Uber’s will not be granted a new licence to operate in ... Read the full article

London Market under threat from tech savvy competition: NTT DATA UK

25th November 2019

The London Market is ready to embrace technological change and innovation, but there are concerns that the market could fall behind more technologically capable competition, according to research from NTT DATA UK. Based on a survey of 100 individuals, ranging from brokers to managing agents and syndicates, NTT DATA UK reported ... Read the full article

Insurtech Gateway secures £2.5mn in funding, led by Moxley Holdings

21st November 2019

Insurtech Gateway, an independent insurtech incubator authorised by the FCA, has secured £2.5 million in a funding round led by data-driven investor Moxley Holdings. The funding will allow the Gateway incubator to continue supporting early-stage insurtech founders, and help to grow its portfolio from 10 to 30 companies over the next ... Read the full article

Munich Re-backed Vouch Insurance raises $45mn in funding

21st November 2019

Vouch Insurance, a platform backed by Munich Re that offers business insurance for start-ups, has secured $45 million of funding in a Series B investment round, led by Y Combinator Continuity. At the same time, Vouch has announced its launch in California, following its initial authorisation in Utah and Illinois ... Read the full article

Aon set to acquire SME insurtech platform CoverWallet

20th November 2019

Global re/insurance brokerage Aon has announced that it has entered into an agreement to acquire CoverWallet, a digital insurance platform for small to medium-sized businesses (SMEs). Aon previously made a strategic investment into the insurtech back in May 2019, and the firms agreed to work together in the SME space ... Read the full article

Munich Re-backed start-up Next Insurance hires execs from Fitbit & Yelp

20th November 2019

Next Insurance, the digital insurtech firm backed by Munich Re, has announced the appointments of former Fitbit executive Melanie Chase as Chief Marketing Officer and former Yelp executive Effi Fuks Leichtag as Chief Product Officer. Next Insurance provides digital small business insurance coverage across the US to over 1,000 types of ... Read the full article

Homeowners sector increasingly targeting insurtech efficiencies: AM Best

19th November 2019

Companies in the US homeowners market are increasingly relying on insurtech to boost efficiency and agility in the face of challenging market dynamics, according to analysts at AM Best. Analysts observed that effective use of technology in this sector has helped to lower transaction costs and expand access to customers. The cost ... Read the full article

Flood insurtech Neptune files patent for Triton technology

19th November 2019

Neptune Flood, an all-digital flood platform that leverages data analytics to provide agents and direct buyers the ability to rapidly quote and bind a policy, has filed a patent application for its Triton technology. Triton powers Neptune’s residential flood insurance product’s ability to executive a series of risk, pricing, disaggregation and ... Read the full article

Re/insurers face “structural shift” as customer demand evolves: WITR report

18th November 2019

The re/insurance industry is facing a “structural shift” in which effective collaboration with insurtech firms will be essential to meet changing customer expectations, according to the World Insurtech Report 2019 (WITR). The report, published by Capgemini and Efma, outlined the potential for a new insurance ecosystem with an open marketplace, based ... Read the full article

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