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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.

InsurTech investment reached record high in H1 2021: WTW

29th July 2021

Global investment in the InsurTech sector reached a record during H1 2021, as half-year funding of $7.4 billion exceeded full-year investment in 2020, and in every other year, according to a new report by insurance and reinsurance broker, Willis Towers Watson (WTW). In Q2 2021, 162 deals yielded more than $4.8 ... Read the full article

Hippo launches homeowners association insurance product

27th July 2021

Home insurer Hippo has announced its expansion into commercial Insurance, with the launch of a tailored homeowners association (HOA) product. The product is designed to provide broader protection alongside a streamlined claims process. Commercial customers will have access to Hippo’s personalised coverage, backed by the company’s data-driven underwriting, satellite and aerial imagery, ... Read the full article

CAPE Analytics secures $44m in funding

22nd July 2021

CAPE Analytics, a provider of geospatial intelligence for property risk and valuation, has secured $44 million in Series C financing, led by Pivot Investment Partners. Additional investors, Aquiline Technology Growth and HSCM Bermuda also joined the Series C round, with participation from existing investors, including Formation8 and Brewer Lane Ventures, as ... Read the full article

Munich Re and Sapiens partner on commercial market services

21st July 2021

Munich Re has partnered with Sapiens International Corporation, a provider of software solutions for the insurance industry, to offer technology-led consultancy and services that will enable primary insurers to better serve the commercial insurance market. Initially focusing on small and medium sized businesses in the UK, the partnership also plans to ... Read the full article

AXA UK launches machine learning-driven property claims tool

20th July 2021

AXA UK has introduced a new machine learning tool designed to help streamline and accelerate complex property claims. BETSIE (Buildings Enhanced Triage Steering Intelligence Engine) captures data points and simplifies claims triaging process by increasing the speed and accuracy of claims resolution. The tool was built inhouse by AXA and uses data, ... Read the full article

Insurtech Kin to go public following $1bn business combination

20th July 2021

US insurtech Kin and Omnichannel Acquisition Corp , a special-purpose acquisition company, are to combine into a $1.03 billion enterprise that is expected to be listed on the NYSE under the new ticker symbol KI. Kin has also announced plans for a national expansion, signing an agreement to acquire an inactive ... Read the full article

EY partners with software firm Fadata to improve insurer performance

20th July 2021

EY has announced a new partnership with Fadata, a software provider that focuses on core insurance operational platforms, to help insurance companies drive improved business performance. The alliance will combine EY UK’s experience in the insurance sector and facilitating large-scale business and technology transformations with Fadata’s INSIS platform to help insurers ... Read the full article

Oxbridge Re targets insurtechs with first SPAC

19th July 2021

Cayman Islands based reinsurer, Oxbridge Re Holdings Limited, has launched a special purpose acquisition company (SPAC) called Oxbridge Acquisition Corp., which itself has filed an initial public offering (IPO) of its securities with the U.S. Securities and Exchange Commission (IPO). Oxbridge Acquisition Corp. has been established as a blank cheque company ... Read the full article

Sepio Systems partners with Munich Re on hardware mitigation solution

19th July 2021

Security and safety services firm Sepio Systems has partnered with reinsurer Munich Re as part of the launch of its Hardware Access Control Index (HACx), which aims to help organizations improve hardware security. The company offers a rogue hardware mitigation guarantee as part of its HAC-1 solution, whereby Munich Re insures ... Read the full article

Credit insurtech LimitFi closes seed funding round

16th July 2021

Limit Financial (LimitFi), a managing general underwriter (MGU) specializing in credit insurance and reinsurance solutions, has closed a seed funding round led by Des Moines-based ManchesterStory, a venture capital firm focused on the insurtech sector. LimitFi focuses on low-loss, conservatively structured credit risks where there is not considered to be an ... Read the full article

Consilium announces new DUA service for coverholders

9th July 2021

Consilium, an international re/insurance broker and part of the Aventum Group, has announced the launch of a new global delegated underwriting authority (DUA) service for coverholders, which aims to disrupt the current market for binder placements. The service, called Exponential, is available to both insurance and reinsurance coverholders and will provide ... Read the full article

Aon partners with insurtech Walbing on trade credit marketplace

8th July 2021

Re/insurance broker Aon has partnered with Hamburg-based fintech Walbing on the establishment of a service tailored for syndicated trade credit insurance. Those wanting to secure coverage will receive an offer directly via the new marketplace, with the respective contract concluded through Aon’s One Underwriting Agency. “In the midst of the corona pandemic, ... Read the full article

BMS Re opts for Relay’s F1 electronic placement system

7th July 2021

The US reinsurance arm of specialist broker BMS has selected Relay’s F1 electronic placement system to support its push for further growth across the sector. The broker portal combines a range of features designed to increase the ease of doing business, facilitate and integrate quotes from all reinsurers, and reduce the ... Read the full article

Insurtech Joyn strikes partnership, investment deal with SiriusPoint

6th July 2021

Insurtech Joyn has announced a key partnership and investment agreement with specialty re/insurer SiriusPoint, as the former looks to transform small and mid-market US commercial insurance using digital technology, data analytics, and automation. Initially operating as a Managing General Agency (MGA), Joyn will be focused on the underserved needs of businesses looking ... Read the full article

Insurtech firm bolttech secures $180mn in first funding round

6th July 2021

Insurance technology firm bolttech has secured $180 million in an oversubscribed series A funding round, led by Activant Capital Group. Also participating in the insurtech’s first funding round were Tony Fadell – Principal at Future Shape, Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital and Tarsadia Investments Bolttech claims the ... Read the full article

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