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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.

SCOR partners with insurtech Snapsheet on digital claims management solutions

6th May 2021

Global reinsurer SCOR has announced a new strategic partnership that will provide its clients with access to an end-to-end claims management platform, digital payments platform, motor virtual appraisal offering, and set of third-party integrations. The solutions are provided by digital claims management software specialist Snapsheet. Snapsheet has fostered a reputation for helping ... Read the full article

Tremor approved to redistribute AM Best ratings within Panorama

4th May 2021

Programmatic re/insurance risk transfer marketplace, Tremor Technologies, has been granted the rights to redistribute Best’s Credit Ratings as part of Panorama, its recently launched trading platform. The credit ratings by AM Best will be continuously updated within Panorama to provide critical ratings information to buyers of reinsurance protection using the ... Read the full article

Neptune Flood launches capacity program

30th April 2021

Neptune Flood, an insurtech firm focused on the flood market, has launched its latest capacity program sponsored by Transverse Insurance Group and backed by a panel of global reinsurers, which was placed through Acrisure Re. Neptune policies placed with the program will carry the Transverse AM Best A- (Excellent) rating. The $30 ... Read the full article

Global insurtech investment hits record $2.55bn in Q1: WTW

28th April 2021

New data from re/insurance broker Willis Towers Watson (WTW) shows that global investment in the insurtech sector reached a new quarterly high of $2.55 billion during the first quarter of 2021. This included eight so-called ‘mega-rounds’, which was more than in any other three-month period, analysts found, and which accounted for ... Read the full article

UPC Insurance partners with Mindtree & Duck Creek

27th April 2021

UPC Insurance has partnered with technology services company Mindtree and core system solutions provider Duck Creek Technologies on the implementation of SaaS-based systems to improve customer experience and claims efficiency. This includes policy, billing, claims, data insights, and insurance technology solutions as well as the consolidation of multiple applications on a ... Read the full article

Kettle names William Haddrell CUO

26th April 2021

Reinsurance startup Kettle has announced the appointment of William Haddrell as its new Chief Underwriting Officer, who will join following the completion of his current work obligations. Haddrell is set to join from Sompo and will also being heading up the underwriting at Kettle’s recently-approved managing general agent. Co-Founder and CEO Andrew ... Read the full article

Shift towards asset-light economy is transformative, says Flandro

22nd April 2021

The shift towards an asset-light global economy has been described as transformative by HX Analytics managing director David Flandro, in a Howden report that highlights the rise of intangibles and the subsequent challenges this brings to re/insurers. “Intangible - and largely uninsured - exposures are becoming more substantive. The rise of ... Read the full article

AXA XL’s North America Construction business adopts RCT platform

22nd April 2021

AXA XL's North America Construction insurance business has adopted the software platform from Risk Control Technologies (RCT), Inc. RCT’s risk engineering enterprise software platform is specific to the re/insurance industry and provides clients with access to risk engineering and loss prevention information. AXA XL's Construction Risk Engineering team will use the platform ... Read the full article

Insurtech Archipelago raises $34m in new funding

22nd April 2021

AI-driven technology and data analytics company Archipelago has raised $34 million in a Series B funding round led by Scale Venture Partners, with strong follow-ons from earlier investors: Canaan Partners, Ignition Partners, and Zigg Capital. Principals from Stone Point Capital, along with Prologis Ventures, also participated in the round, which will ... Read the full article

Munich Re’s consulting unit adopts pricing tech from Akur8

21st April 2021

Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit. Specifically developed for re/insurance, Akur8’s solution is designed to enhance pricing processes by automating risk and demand modelling, using artificial intelligence proprietary technology. The solution promises a reduction in modelling ... Read the full article

Price Forbes launches digital General Aviation facility

20th April 2021

Independent insurance broker Price Forbes has launched a new digital General Aviation facility designed to quickly quote and bind risks with a leading Lloyd’s syndicate. This development within Price Forbes’ proprietary EDGE platform is expected to improve speed of service and placement for clients by delivering quotes in real time. EDGE is ... Read the full article

Swiss Re joins auto tech firm Veoneer to further road safety solutions

20th April 2021

Global reinsurer Swiss Re is partnering with automotive technology specialist Veoneer on road safety solutions designed to help further the development of advanced driver assistance systems (ADAS) and related services. The partnership will see Veoneer enhance its ADAS tech using the insights and empirical knowledge Swiss Re has accumulated over years ... Read the full article

Korean Re partners with healthcare insurtech Leapstack

20th April 2021

Seoul-based reinsurer Korean Re has partnered with Leapstack, an AI-powered insurtech that specialises in healthcare, to support Leapstack’s expansion into the Korean insurance market. Leapstack, which has already partnered with several of Korea’s largest insurers, aims to provide big data AI solutions for commercial insurance companies and social security management agencies. In ... Read the full article

Advent Insurance Management launches Ecliptic

19th April 2021

Lloyd’s and London Market service provider Advent Insurance Management has launched its technology business, Ecliptic. Ecliptic was created to partner with and challenge Lloyd’s and London market businesses to help realise their ambitions through technological innovation. Ecliptic’s formation follows Advent being awarded approved service supplier status by LIMOSS, after building the LMA’s ... Read the full article

Willis Towers Watson launches Radar Workbench software

16th April 2021

Re/insurance broker Willis Towers Watson (WTW) has launched Radar Workbench, new software technology designed to support the decision-making of frontline underwriters. The product works by harnessing a range of internal and external data assets to deliver contextual analysis with the aim of improving pricing and claims reserving accuracy. With Radar Workbench, WTW ... Read the full article

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