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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.

AM Best lifts Spinnaker from review following Hippo acquisition

25th September 2020

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Spinnaker Insurance Company. The outlook assigned to these Credit Ratings (ratings) is stable. Spinnaker was previously put under review after it was announced ... Read the full article

AXA XL launches IoT solution to monitor building health

25th September 2020

AXA XL, the property & casualty and specialty risk division of AXA, is accelerating the scaling of its new Digital Risk Engineer proposition designed to allow a company to monitor the “health” of its buildings and assets. Digital Risk Engineer will be available globally and uses Internet of Things (IoT) devices installed ... Read the full article

AmTrust joins Verafore’s Commercial Submissions platform

25th September 2020

AmTrust Financial has announced that it has joined Verafore’s Commercial Submissions platform, a platform that has been designed to transform commercial insurance. Verafore is undertaking a task to improve market connectivity across the insurance distribution channel. It recently announced the first release of its Commercial Submissions platform to its carrier and ... Read the full article

Aon releases new platform for catastrophe data

24th September 2020

Re/insurance broker Aon plc has announced the release of a platform that will enable re/insurers to convert their catastrophe data into the Open Exposure Data format. Aon says the format will enable more vendor model choice and enable broader risk management insights. Due to 2020 being the costliest decade on record, economic ... Read the full article

Munich Re, Alphabet-backed insurtech Next secures $250mn in funding

24th September 2020

Next Insurance, the digital insurtech firm backed by Munich Re, has raised $250 million in a Series D financing round led by Alphabet's independent growth fund, CapitalG. Alphabet is the parent company of Google and several former Google subsidiaries. CapitalG Partner Sumiran Das will join the Next Insurance Board of Directors. Next Insurance ... Read the full article

Riskbook selects r10 as global implementation, integration partner

22nd September 2020

Reinsurance placement technology provider Riskbook is entering into a strategic partnership with r10 Consulting. Moving forward, r10 will be the preferred global implementation and integration partner for the Riskbook platform. The collaboration will see r10 support Riskbook and its clients in implementing the product suite from proof of concept stage through to enterprise-wide utilisation. Riskbook ... Read the full article

Insurtech FloodFlash launches expanded parametric product

22nd September 2020

Insurtech FloodFlash has launched the newest iteration of its commercial parametric flood insurance, FloodFlash+. FloodFlash+ sees policies underwritten by a panel of insurers and reinsurers and allows clients to select multiple sensors for a single site, cover multiple properties in a portfolio under a single policy, or include third party data from river ... Read the full article

Guy Carpenter partners with insurtech RiskGenius on silent cyber risk

17th September 2020

Guy Carpenter, the reinsurance arm of global broker Marsh, has established a partnership with insurtech RiskGenius to help evaluate potential silent cyber exposure. The partnership will provide clients with a means of assessing their silent cyber exposure at scale, while generating risk insights designed to support a greater understanding of silent ... Read the full article

Phinsys launches Inform, a new finance data dashboard

17th September 2020

Finance automation software provider Phinsys has announced the launch of Inform, a new finance data dashboard designed to allow insurers to aggregate their finance data and optimise it for accurate reporting and analysis. Phinsys says the dashboard enables finance and actuarial teams to see the granular data they need for individual ... Read the full article

Munich Re leads financing round for Indian insurtech startup

17th September 2020

It has been announced that Munich Re has led the financing round for an Indian insurtech startup, Acko. The startup, which is taking on India’s outdated insurance industry with a digital-first product that has already received backing from Amazon, today announced a new financing round. So far it has raised $60 million ... Read the full article

B3i announces major enhancements to reinsurance solution

16th September 2020

The Blockchain Insurance Industry Initiative (B3i) has released several major enhancements to its reinsurance solution B3i Re. Formerly the Cat XoL placement product, B3i Re includes significant technical accounting functionality and a number of feature requests from B3i’s customers. Features include treaty tower parameter enhancements; multicurrency capabilities; cedent broker approval transactions; enhanced treaty ... Read the full article

Lemonade set to enter France by end of 2020

15th September 2020

Insurtech startup Lemonade has named France as its next European market, following previous expansions into the Netherlands and Germany. The company is planning to make its new multi-risk insurance available in France by the end of 2020. Once launched, Lemonade says consumers in the country will be able to file claims and ... Read the full article

MS Amlin announces partnership with insurtech Allphins

11th September 2020

MS Amlin Underwriting Limited has entered into a service agreement with insurtech data analytics platform Allphins to support its exposure management capabilities. The agreement will see MS Amlin’s marine and energy reinsurance division use the Allphins platform to digitalise existing exposure data and access its specialist datasets and analysis tools. The re/insurer ... Read the full article

Liberty Mutual and SafeButler partner to offer instant renters insurance

11th September 2020

Liberty Mutual has partnered with insurance comparison site SafeButler to provide instant access to comprehensive renters insurance plans. Liberty Mutual's API has been integrated into SafeButler's website and will instantly return a guaranteed renters insurance quote that will remain valid for 30 days. The coverage and cost to the consumer are no ... Read the full article

Brit names Mark Allan as CEO of Ki

10th September 2020

Global specialty re/insurer Brit has announced the appointment of Mark Allan as CEO of Ki, its fully digital and algorithmically-driven Lloyd’s of London syndicate, launched in collaboration with Google Cloud. Allan has served as Brit Group CFO and Brit Limited Group Executive Director since 2015, following roles as CRO and Director ... Read the full article

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