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InsurTech news

Lloyd’s CEO Beale and DFID back InsurTech solutions for developing countries

20th April 2018

Penny Mordaunt, Secretary of State for the Department for International Development (DFID), has joined Dame Inga Beale, Chief Executive Officer (CEO) of Lloyd's of London, at a Lloyd's event to discuss how science, innovation, and the City of London can help developing countries recover from natural disasters. Beale and Mordaunt showcased ... Read the full article

Asia-Pacific bancassurers in blockchain tech push: GlobalData

19th April 2018

Data and analytics company GlobalData has reported that bancassurers in regions like China, Hong-Kong, and India, where regulators support the open architecture integration model, are exploring new technologies like Blockchain and APIs in a push for open banking. China Construction Bank (CCB) and AIA in Hong Kong were two notable companies ... Read the full article

Cyber remains top enterprise risk management priority: A.M. Best

18th April 2018

A.M. Best has reported that the assessment of cyber risk continues to remain a top enterprise risk management (ERM) priority for insurers and reinsurers, as InsurTech innovations have required companies to continually expand and enhance their risk management capabilities. The report contends that, as companies try to keep up with the ... Read the full article

Marsh launches digital labs to develop new tech strategies

18th April 2018

Re/insurance broker Marsh has announced the launch of Marsh Digital Labs, an incubator focused on experimenting with emerging technologies, developing new products and business models, and engaging with clients, carriers, and InsurTech companies. Part of Marsh’s broader Digital, Data, and Analytics organisation, Marsh Digital Labs is based in San Francisco, California, ... Read the full article

London market must embrace tech to stay competitive, says Jon Hancock, Lloyd’s

17th April 2018

Jon Hancock, Performance Management Director at Lloyd’s of London, has asserted that re/insurers in the London market must do more to embrace innovative technology, and has outlined several key areas in which Lloyd’s is supporting tech integration. Speaking in an interview with Willis Towers Watson in the company's Energy Market Review, ... Read the full article

Munich Re Digital Partners appoints Angela Homm as Global CFO

17th April 2018

Munich Re Digital Partners, a subsidiary of global reinsurer Munich Re that invests in InsurTech start-ups, has appointed Angela Homm as Global Chief Financial Officer (CFO), and as Senior Director of Risk & Finance for its U.S team, effective April 23rd, 2018. As CFO, Homm will be responsible for Digital Partners' ... Read the full article

Gen Re partners with tech company Thrive on mental health outcomes

16th April 2018

Gen Re has announced plans to collaborate with Thrive, a company that develops software for the prevention, screening and self-management of mental health conditions, to promote better mental health outcomes for insurance and reinsurance customers. Working together, Gen Re will help to deliver Thrive’s digital solutions to global life and health ... Read the full article

EY partners with InsurTech company Concirrus on AI-driven marine solutions

13th April 2018

EY has announced that it will collaborate with InsurTech company Concirrus to support the adoption of behavioural-based underwriting and risk management in marine insurance, using artificial intelligence (AI) powered software. The partnership is intended to help modernise the marine sector’s traditional demographic based underwriting models, which rely on data like the ... Read the full article

Technology is redefining value chain roles, says Aon Benfield CEO Andersen

13th April 2018

Eric Andersen, Chief Executive Officer (CEO) of reinsurance broker Aon Benfield, has asserted that the integration of increasingly advanced InsurTech and data analytics is reshaping the re/insurance industry value chain and redefining the roles of brokers, insurers, and reinsurers within it. In an interview with A.M. BestTV at the Dubai ... Read the full article

Reinsurance CEOs confident they can fend off insurtech threat

12th April 2018

CEOs of major reinsurance firms believe that while the digitalisation of insurance and the current technology wave is something they have to embrace, they can successfully fend off the threat from digital-only InsurTech start-ups. Insurance and reinsurance is an industry that has been besieged by tech start-ups in recent years, once ... Read the full article

Intelligent machines will profoundly alter re/insurance industry: SCOR

12th April 2018

French-based insurer and reinsurer SCOR has predicted in a recent report that the re/insurance industry is likely to be profoundly altered by the growth and integration of intelligent machines, which will bring both significant opportunities and risks for companies. SCOR noted that the development of intelligent machines has recently been accelerated ... Read the full article

Gen Re partners with tech company PAI Health to reduce risk

11th April 2018

Gen Re is to collaborate with PAI Health, a technology company that uses algorithms to optimise health, to develop re/insurance solutions for life and health clients in the global market. Gen Re hopes to use the company’s PAI (Personal Activity Intelligence) to drive its customer engagement and reduce the risk of ... Read the full article

U.S. still dominates but Europe is a rapidly expanding InsurTech hub: Report

10th April 2018

Europe has emerged as the fastest growing InsurTech hub with the number of deals in 2017 increasing by 118%, accounting for one-third of all InsurTech deals globally, according to analysis by Accenture. The total value of deals in Europe nearly quadrupled in 2017, jumping by 385% to US $679 million, demonstrating ... Read the full article

Asian InsurTech M&A tripled in 2017: Willis Towers Watson

10th April 2018

Global re/insurance broker Willis Towers Watson has reported that the total transaction volume of InsurTech mergers and acquisitions (M&As) in Asia hit US $460 million over 2017, a figure over three times greater than the one recorded over 2016. In its fourth Quarterly InsurTech Briefing, Willis Towers Watson attributed the surge ... Read the full article

InsurTech start-up Wrisk makes three leadership appointments

9th April 2018

InsurTech start-up Wrisk has expanded its leadership team with the appointments of Nimeshh Patel as Chief Operating Officer (COO), Stewart Duncan as Chief Data Officer, and Sima Patel as Head of Marketing. Nimeshh Patel has already served as a member of Wrisk’s advisory Board, and will support the company's goal of ... Read the full article

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