Reinsurance News
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.
Slide Insurance places reinsurance program for 2023 hurricane season
26th May 2023
Full-stack homeowners insuretech Slide Insurance has completed its reinsurance program for the 2023 hurricane season, bolstering its ability to protect policyholders across Florida and South Carolina. According to Slide, its reinsurance program exceeds regulatory and rating agency requirements. The comprehensive reinsurance tower protects the firm to the 185-year return period, reduces retention ... Read the full article
AdvantageGo and Tremor announce a strategic alliance
23rd May 2023
AdvantageGo, a commercial insurance and reinsurance software provider that is a part of Coforge, has announced a strategic alliance with Tremor, an online reinsurance pricing and placing platform. Tremor has modernised the way to place reinsurance. It provides reinsurance cedents with a new channel and an automated approach for finding the ... Read the full article
Insurtech bolttech valued at $1.6 bn after raising $196m in Series B round
17th May 2023
International insurtech bolttech is now valued at $1.6 billion after raising $196 million in its Series B round, led by Japanese insurer Tokio Marine. Other key investors included MetLife Next Gen Ventures, a MetLife subsidiary, and Malaysia’s sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders. The proceeds of ... Read the full article
wefox secures $110m with J.P. Morgan and Barclays backed facility
17th May 2023
Germany-based insurtech wefox has raised a total of $110m with a $55m credit facility from J.P. Morgan and Barclays, the remaining $55m in equity was raised from both new and existing investors as a second closing of the Series D funding at a valuation of $4.5bn. According to the announcement, the ... Read the full article
Insurity partners with VIPR on automated program management
12th May 2023
Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has partnered with VIPR Solutions to improve program business efficiencies. With a focus on the London market and US domestic P&C market, Insurity and VIPR plan to integrate their platforms in an effort to provide real-time data exchange for ... Read the full article
Insurtech Concirrus partners with data and analytics provider Percipience
10th May 2023
Percipience LLC, an insurance data and analytics platform provider, and insurtech Concirrus have announced a new partnership aimed to expand data capabilities for insurers. According to the announcement, this partnership brings together the best of breed data analytics and Artificial Intelligence (AI) capabilities. It combines Percipience’s comprehensive insurance data and analytics platform ... Read the full article
BrokerTech Ventures launches $34 million BrokerTech Fund
4th May 2023
BrokerTech Ventures (BTV) has partnered with ManchesterStory Group to launch the BrokerTech Fund, LP, a venture capital fund focused on early-stage insurtech companies developing broker-centric technology solutions. ManchesterStory, the Fund's General Partner, is an early-stage venture capital firm that manages more than $225 million in committed capital across multiple funds focused ... Read the full article
Global InsurTech funding rises by 37.6% in Q1 2023: Gallagher Re
4th May 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter's lowest total since Q1 2020. While the deal count remained steady, the average deal ... Read the full article
Munich Re launches ‘innovative’ coverage for AI solutions
28th April 2023
Munich Re has launched aiSelf™, an "innovative" coverage for users who implement self-developed Artificial Intelligence (AI) solutions in their own companies. "This new cover enables you to mitigate the underperformance, unreliability and drift of machine learning models," Munich Re said. Munich Re provides insurance coverage to protect companies from potential financial losses ... Read the full article
Insurtech Ledgebrook raises $4.6m in funding
26th April 2023
Ledgebrook, an insurtech managing general agent (MGA) for wholesale brokers, has announced it has raised a $4.6m round of funding. The Boston-based company intends to use these funds to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings. It is also looking to build ... Read the full article
Swiss Re partners with insurtech Benekiva on digital claims management
25th April 2023
Swiss Re Reinsurance Solutions has formed a strategic partnership with Des Moines-based insurtech Benekiva to develop an integrated claims management platform. The partnership will aim to combine Benekiva's claims administration system with Swiss Re's Claims Automated Rules Engine and expertise in risk management. The Integrated Claims Management Platform will support digital claims ... Read the full article
ZestyAI rolls out analytics solution for convective storms
25th April 2023
Climate and property risk analytics provider ZestyAI has announced that severe convective storms have joined the list of perils addressed by the its risk analytics platform. The company claims that Z-HAIL and Z-WIND are the first AI models to give carriers hail and wind risk assessment that can be used in ... Read the full article
Insurity launches cloud-based underwriting software to the London market
19th April 2023
Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has announced the launching of its Sure Underwriting Workbench in the London market. The software’s low code, configurable rules engine will enable London market carriers, MGAs, syndicates, and brokers to focus more on risk assessment and less on routine ... Read the full article
IAG unit invests in Planck for its underwriting automation operations
14th April 2023
IAG's corporate venture capital arm, IAG Firemark Ventures, has invested in global insurtech platform Planck in a bid to expand into the Australian and New Zealand commercial insurance market. Planck provides real-time answers to underwriting questions for the global commercial insurance industry and IAG said this "technology could potentially be embedded ... Read the full article
Wakam restructures leadership by appointing Catherine Charrier-Leflaive as CEO
13th April 2023
French digital B2B2C insurer Wakam has unveiled a revamped governance structure by appointing Catherine Charrier-Leflaive as CEO, and Olivier Jaillon as Chairman of the Board of Directors. The duo both possess a significant track record within the insurance industry, and both share the same vision for more transparent and impactful insurance. Charrier-Leflaive joined ... Read the full article
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