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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.

Agile partners with OnRisk InsurTech on P&C structuring platform

18th October 2018

Agile Risk Partners, a London-based MGA start-up, has partnered with OnRisk, a U.S InsurTech start-up, on the development of an advanced, CAD-style platform for underwriting, structuring and distributing high-value property and casualty (P&C) risk. Under the terms of the strategic partnership recently concluded by the parties, Agile will become an ... Read the full article

Google-linked equity fund makes insurtech investment

18th October 2018

The growth equity investment fund of Google parent company Alphabet has made a minority investment in Applied Systems, a global provider of cloud-based software that automates the administration of clients and their policies for the insurance industry. Interestingly, this may constitute the first in a number of insurtech deals made by ... Read the full article

Named peril casualty cover is $90bn per year opportunity, says Praedicat CEO

17th October 2018

Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics firm, has claimed that developing named peril casualty cover is currently the biggest opportunity in re/insurance, representing a potential $90 billion annual growth opportunity. Praedicat analyses scientific literature to model more than 60,000 potential disease litigation scenarios, ... Read the full article

Greenlight Re unit continues insurtech drive with Click2Sure investment

17th October 2018

Greenlight Re Innovations, part of the specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has invested in the digital insurance platform Click2Sure. South Africa-based Click2Sure has developed a comprehensive digital platform for distributing, managing and purchasing insurance at the point of sale. Launched by Daniel Guasco and Jacques Van Niekerk ... Read the full article

InsurTech start-up iX Technology Group appoints Executive Chairman

17th October 2018

iX Technology Group, an InsurTech start-up company with a focus on blockchain, has announced the appointment of Sally Coryn as Executive Chairman. Coryn most recently served at Canopius as Head of Corporate Development, and has more than 30 years’ re/insurance market experience spanning strategy, analysis, investor relations, communications and underwriting. She previously ... Read the full article

“InsurTech is not one size fits all”, says Claude Yoder, Guy Carpenter

17th October 2018

The rise of advanced technology alongside a need throughout the insurance and reinsurance value chain to improve efficiency has created a bourgeoning InsurTech start-up trend, but it’s important to find the right InsurTech fit, according to Claude Yoder, Guy Carpenter. Traditionally, the insurance industry has been slow to adapt and modernise. ... Read the full article

Softbank still targeting reinsurance tie-ups

16th October 2018

Japanese technology & telecoms investor & conglomerate SoftBank will continue to target tie-ups with unspecified reinsurance players in order to accelerate digital upheaval in the re/insurance industry, David Thevenon, a dealmaker at SoftBank’s Vision Fund, has told Reuters. In May, SoftBank’s efforts to take as much as a 25% stake ... Read the full article

Competition from insurtech to increase: Geneva Association

15th October 2018

A report by leading think tank the Geneva Association suggests the current symbiosis between insurtech startups and re/insurers is likely to shift, as an increasingly digitised business landscape looks set to blur the line for traditional players. Insurance startups and other market entrants have not had a major disruptive impact on ... Read the full article

Verisk releases updated personal injury claims calculator

15th October 2018

Data analytics provider Verisk has released the latest version of piCalculator, its solution for calculating schedules of loss for personal injury claims. piCalculator is an all-in-one software solution that handles all calculations in the injury claims process, which Verisk suggests has already helped lawyers, barristers, and large-loss claims handlers achieve around ... Read the full article

Travelers partners with Amazon on home insurance solutions

11th October 2018

American insurer Travelers has announced a partnership with Amazon that will see smart home kits, as well as insurance and risk management information, offered to its customers via a digital storefront on the Amazon site. The smart home kits, designed to protect homeowners from some of the most common causes of ... Read the full article

Pacific Life Re explores machine learning in medical data processing

10th October 2018

Pacific Life Re and the online comparison service UnderwriteMe are collaborating on a system which combines text mining and machine learning techniques to process unstructured medical textual data, such as doctors’ reports on life and health insurance applicants and claimants. With the emergence of electronic medical reports, the ability to improve ... Read the full article

Generali launches tech startup, introduces cyber platform

10th October 2018

Italian insurance giant Generali has announced the launch of CyberSecurTech, its own technology startup aimed at the provision of innovative cyber risk assessments for its customers. Furthermore, the wholly owned ‘startup’ will support Generali’s newly-launched technology platform Majorana, designed and developed entirely by the group’s team of IT security experts. The introduction ... Read the full article

Willis Towers Watson expands Plug and Play insurtech partnership

8th October 2018

Re/insurance broker Willis Towers Watson (WTW) has expanded its partnership with Plug and Play, an innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups. The new agreement extends WTW’s access to insurtech startups across all of Plug and Play’s platforms, which include Beijing, Munich, New ... Read the full article

Greenlight Re unit makes second insurtech investment in as many weeks

5th October 2018

Greenlight Re Innovations, part of the specialist hedge fund backed property and casualty (P&C) reinsurer Greenlight Capital Re, has invested in Sana Benefits, an Austin-based third party administrator (TPA) startup focused on the U.S self-insured health market. Having commenced providing administrative services on September 1, 2018, Sana Benefits’ Software as a Service (SaaS) ... Read the full article

Lockton adds tech expertise to Capital Markets business

4th October 2018

Global insurance and reinsurance broker Lockton has appointed financial services and technology experts Ash Shah and Femi Ogunjumo as Managing Director and Vice President, respectively, at its recently established Lockton Capital markets business. Launched last month, Lockton Capital Markets facilitates investment banking and capital markets transactions and aims to provide ... Read the full article

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