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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.

Hippo expands reinsurance panel, establishes captive

19th February 2020

California-headquartered, homeowners focused InsurTech firm, Hippo, has announced the expansion of its reinsurance panel and the establishment of its own captive as it eyes continued growth. Founded in 2015, Hippo looks to transform home insurance and ownership by providing a more efficient and affordable service to U.S. homeowners. The InsurTech company first ... Read the full article

Swiss Re iptiQ, IKEA launch home insurance offering

18th February 2020

Swiss Re iptiQ and Swedish furniture retail firm IKEA have announced the launch of a home insurance offering designed to be easily bought online and cancelled at any time with next day effect. Swiss Re’s iptiQ platform effectively allows the company to shorten the value-chain by reducing the number of steps ... Read the full article

Insurtech Concirrus secures further $20mn of funding

18th February 2020

London-based marine and automotive insurtech firm Concirrus has secured $20 million in a Series B funding round led by AlbionVC. The funding also included participation from current investors IQ Capital, EOS Venture Partners and several angel investors. The investment will help to support the continued development of Concirrus’ behavioural-based underwriting platform, Quest. Quest ... Read the full article

Free coronavirus cover offered by insurtech WeSure

17th February 2020

WeSure, the insurance platform launched by Chinese multinational conglomerate Tencent in 2017, says over 100,000 medical professionals across the country signed up to its free coronavirus cover. The company has been active in establishing partnerships and products designed to tackle Covid-19, with one plan advertising up to £65,000 of protection for ... Read the full article

Aon’s PathWise platform implemented by Korean insurer Kyobo Life

13th February 2020

Re/insurance broker Aon has announced that South Korean insurer Kyobo Life has implemented its PathWise computing platform in preparation for the IFRS 17 and K-ICS financial reporting regimes. The company embedded PathWise as its all-in-one financial risk management platform for a range of tasks, including assumption management, economic scenario generation (ESG), ... Read the full article

B3i’s blockchain platform places 30 reinsurance contracts at 1/1

12th February 2020

The Blockchain Insurance Industry Initiative (B3i) has announced that 30 reinsurance contracts have now been concluded on its platform, with participants including Allianz Re and Generali. A total of 9 insurers, 4 major brokerage firms, and 8 reinsurers participated in the placements, which were conducted as a parallel run with the ... Read the full article

Tokio Marine deploys Metromile’s AI tech across auto book

12th February 2020

Japanese insurer Tokio Marine Group has deployed artificial intelligence (AI) powered technology from Metromile across its $13 billion auto insurance book in a move that it hopes will significantly improve customer claims. Using Metromile’s digital first notice of loss product, Metromile REPORT, Tokio Marine hopes to simplify the claims process by ... Read the full article

Insurtech firm Sapiens acquires sum.cumo

12th February 2020

Sapiens International Corporation, a global provider of software solutions for the re/insurance industry, has announced the completion of its acquisition of sum.cumo. sum.cumo is a German-based technology provider that offers digital solutions mainly to the insurance sector. The acquisition is expected to enable Sapiens to expand its footprint by offering its complete ... Read the full article

Satellite imagery home insurer Luko adds Julien Gigoi as Chief Actuary

7th February 2020

French satellite imagery home insurer, Luko has appointed Julien Gigoi to the role of Chief Actuary. Luko describes itself as France’s first neo insurance, and since the AI powered InsurTech launched roughly one year ago, it’s already attracted 10,000 customers in France and, this is despite it only offering protection for ... Read the full article

Travel insurtech Blink launches parametric solutions platform

7th February 2020

Travel insurtech Blink has announced the launch of a platform designed to offer a range of parametric insurance solutions. Blink Parametric’s platform-based solutions span the travel, climate, energy and IoT sectors. Blink Travel offers customers a real-time insurance service with real-time compensation options for issues like flight delays or cancellation. Blink Climate is ... Read the full article

Policygenius secures $100 million investment led by KKR

6th February 2020

InsurTech Policygenius, an online marketplace for comparing and purchasing insurance, has announced $100 million in Series D funding led by global investment firm, KKR. Existing major investors in Policygenius, which includes Norwest Venture Partners, Revolution Ventures, Susa Ventures, AXA Venture Partners, MassMutual Ventures and Transamerica Ventures, also participated in the latest ... Read the full article

Xceedance partners with cloud-based insurance platform Novidea

6th February 2020

Re/insurance service provider Xceedance has partnered with data-driven insurance distribution platform Novidea to help its broker management platform meet growing market demand. Novidea provides a core cloud-based platform designed to connect insurance distributors to a modern insurance ecosystem which leverages the Salesforce Cloud and artificial intelligence. By partnering with Xceedance for assistance ... Read the full article

Boost Insurance raises $14mn for insurtech development platform

5th February 2020

Boost Insurance has secured $14 million in a Series A round of funding, which will be used to expand its infrastructure-as-a-service (IaaS) insurtech development platform. The round was co-led by Coatue and Greycroft, with participation from Tusk Venture Partners, Conversion Capital, and MetLife Chairman Glenn Hubbard. Existing investors Norwest Venture Partners and ... Read the full article

RGA introduces digital health data scoring solution

5th February 2020

Life and health reinsurer, Reinsurance Group America, has made its Digital Health Data Risk Scoring service available to US life insurers. The service evaluates structured electronic medical record and medical claims data and provides an underwriting risk score for integration within a carriers underwriting system. “Electronic medical records and claims data are ... Read the full article

TransRe partners with Allphins to launch energy reinsurance platform

5th February 2020

Global reinsurer TransRe has partnered with energy InsurTech firm, Allphins, to create a data analytics platform for offshore energy reinsurance business. Under the terms of the agreement, TransRe will leverage Allphins software to digitalise its treaty reinsurance arrangements, monitor its aggregate exposures, and identify opportunities within the marketplace. The Chief Executive Officer ... Read the full article

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