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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.

Coronavirus + broker M&A distribution disruption raises threat to carriers: Hyperion X

3rd April 2020

While the immediate impacts and losses from the Covid-19 coronavirus pandemic are top of mind in threatening the businesses of insurance and reinsurance carriers right now, the fact it coincides with the biggest disruption to the distribution chain ever seen adds more pressure, Hyperion X said. Hyperion X, the data and ... Read the full article

Aon enhances reinsurer trading portal for Lloyd’s & IUA markets

1st April 2020

Re/insurance broker Aon has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) markets from 1 April renewals. The new bind feature enables Lloyd’s and IUA markets to complete and bind Aon's treaty reinsurance placements without the need for ... Read the full article

Insurtech wefox launches broker platform amid COVID-19 concerns

30th March 2020

Berlin-based insurtech firm wefox Group has announced the launch of a new technology platform, which will be made available to brokers for free amid concerns that the coronavirus (COVID-19) pandemic is affecting sales. wefox explained that it brought forward the release of its platform, wefoxGo, after realising that COVID-19 could put ... Read the full article

RiskGenius launches COVID-19 risk checklist

27th March 2020

RiskGenius, an insurtech using artificial intelligence to evaluate emerging risks across insurance portfolios, has released a checklist of potential coverage issues associated with the coronavirus pandemic. The checklist has been launched to help carriers assess and quantify potential exposure to the virus, as firms struggle to comply with rapidly changing legislative ... Read the full article

Ageas partners with tech firm on AI car damage assessments

27th March 2020

Brussels-headquartered multinational insurer Ageas is using an artificial intelligence (AI) solution developed by technology company Tractable to create car damage assessments and repair estimates. The AI-powered technology is able to support some of the complex tasks usually carried out by human assessors, such as identifying which parts of a vehicle have ... Read the full article

Munich Re-backed Sepio Systems hits $15mn in funding

27th March 2020

Global reinsurer Munich Re has acted as lead investor for Sepio Systems, a leader in Rogue Device Mitigation. Following the recent Series A round, Sepio secured an additional $4 million from Munich Re Ventures and Hanaco Ventures, which brings the total investment in the company to $15 million. Alongside the investment, Sepio ... Read the full article

FWD Philippines opts for digital solution from Pacific Life Re

26th March 2020

Pacific Life Re has announced a new partnership with FWD Philippines, which will see FWD adopt a digital solution from Pacific Life Re’s insurtech subsidiary, UnderwriteMe. The solutions was built on the Underwriting Rules Engine and is designed to enable a much shorter application process, while minimising the review time needed ... Read the full article

Tremor to launch weekly online ILW auctions

26th March 2020

Programmatic insurance and reinsurance risk transfer marketplace Tremor is set to open weekly online Industry Loss Warranty (ILW) auctions in an effort to ensure the market continues operating during the unfolding coronavirus pandemic. Auctions begin on April 2 and will leverage catastrophe loss estimates for the US, Canada, Japan, and the ... Read the full article

Manulife partners with digital health platform dacadoo

25th March 2020

Canadian multinational insurer Manulife has announced a collaboration with dacadoo, a Swiss-based digital health platform provider, to enhance its digital offerings in Asia. Under this new partnership, dacadoo will strengthen Manulife’s existing health engagement platform, ManulifeMOVE, to help customers understand their health and develop better habits. “We are delighted to be partnering ... Read the full article

Guy Carpenter partners with insurtech RiskGenius on silent cyber

25th March 2020

Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has entered into a strategic partnership with RiskGenius on the detection and qualitative analysis of silent cyber exposure. RiskGenius is an insurtech firm that utilises artificial intelligence to evaluate emerging risks across insurance portfolios. By working with RiskGenius, Guy Carpenter ... Read the full article

Flood insurtech Neptune expands US presence

24th March 2020

Neptune Flood Incorporated, a digital insurtech firm focused on the flood market, has announced its launch into Arkansas, Idaho and Illinois in the US. With its expansion into these states, a potential 6.7 million more households will now have access to Neptune’s flood insurance solution. The firm explained that it launched in ... Read the full article

Insurtech firm Sapiens partners with HazardHub

20th March 2020

Sapiens International Corporation, a global provider of software solutions for the re/insurance industry, has entered into a partnership with HazardHub, a third-generation provider of property-level hazard risk databases. As part of the agreement, HazardHub’s sets of risk data will be integrated into the Sapiens CoreSuite for Property & Casualty . This is ... Read the full article

Zurich partnership targets improved claims processing efficiency

19th March 2020

Global insurer Zurich is partnering with California-based data solutions provider Carpe Data to help improve claims processing efficiency. Zurich will leverage Carpe Data’s ClaimsX monitoring solution to use publicly available web data for real-time assessment and automated decision making. Through ClaimsX, Zurich is able to proactively audit injury claimants and identify cases ... Read the full article

Swiss Re partners with Microsoft on digital risk center

12th March 2020

Swiss Re has partnered with tech giant Microsoft on the launch of a Digital Market Center to help the re/insurance industry develop large-scale tools to predict and manage risks, and respond with new products. The Digital Market Center will draw on Microsoft’s Azure cloud technologies, as well as its internet of ... Read the full article

Insurtech Relay secures $3mn funding, launches placement platform

9th March 2020

After two years of development and testing with large participants, Toronto-headquartered insurtech Relay has released its first fully-fledged online Software-as-a-Service solution. The firm, which has also just recently secured $3 million in its latest funding round, says the platform is able to secure and track complex risk placements quickly and easily. The ... Read the full article

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