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.

Policy Expert up for potential £1bn sale

28th June 2022

Sources have reported that options are being explored for a potential £1 billion sale of UK digital home and car insurer Policy Expert. Bloomberg writes that investment firm Primary Group and advisors Perella Weinberg Partners are working with Policy Expert’s parent company, QMetric Group, to look at possible buyers. It’s been reported ... Read the full article

Data analytics firm Confianza closes seed funding round

27th June 2022

Confianza, Inc., a provider of data analytics and machine learning to insurance agents, brokers, and carriers in the US, has announced the first close of its seed funding round, led by Sandbox Insurtech Ventures. Founded in 2020 by insurance industry veterans Jeffrey Glazer and John Petricelli, Confianza aims to help ... Read the full article

Hyper-personalisation is the future of Insurtech – Capco

24th June 2022

Insurtech firms that prioritise hyper-personalisation and embedded insurance will come out the long-term winners and define the sector in the coming years, according to Usman Sheikh, Executive Director at Capco.  “Despite flagship Insurtech brands decreasing in valuation this year and the sector facing a ... Read the full article

Tim Spencer of Prima XL on the future role of reinsurtech

23rd June 2022

Digitisation has been a buzzword across multiple sectors and industries in recent years as an increasingly online and mobile-connected world population has come to expect their insurers in turn to fully embrace the revolution of a hyper-connected world. And where the insurers go, the reinsurers will be expected to follow. And, ... Read the full article

Ledger Investing raises $75mn in Series B Funding to democratize Insurance Risk Capital

22nd June 2022

InsurTech start-up, Ledger Investing has announced that it has raised $75 million in Series B funding led by WestCap, with participation from Teachers’ Venture Growth and Intact Ventures, and previous investors: SignalFire, MassMutual Ventures, Allegis Capital, and Accel. Ledger Investing will use the funds to accelerate revenue growth across its insurance-linked ... Read the full article

Spain’s Mutua Madrileña opts for pricing solution from Akur8

22nd June 2022

Mutua Madrileña, one of Spain’s largest insurers, has chosen Akur8 as its new pricing solution for non-life insurance lines in the country, including motor, home and multi-risk business. Akur8, an AI-driven pricing insurance company, says the partnership will also allow it to strengthen its presence in Spain. The firm’s pricing automates rate ... Read the full article

Munich Re backs Amber Group digital asset cover by Arch & OneDegree

21st June 2022

Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd's and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re. The comprehensive global insurance coverage will protect digital assets held in Amber Group’s wallet infrastructure on ... Read the full article

Accelerant sets up Brussels office

16th June 2022

Insurtech platform Accelerant has announced the establishment of a new EU headquarters in Brussels, as it continues to target expansion in Europe. Founded in 2018, Accelerant specializes in serving a network of managing general agents (MGAs). Accelerant Insurance Europe S.A. was formed in 2021 with the ability to trade across the UK ... Read the full article

Insurers must do more to modernise, says ACORD

16th June 2022

ACORD, the standards-setting body for the global insurance industry, has released its 2022 Insurance Digital Maturity Study of the world's 200 largest insurance carriers. This year the Maturity Study has expanded to include mutuals — an important component in the insurance industry. It reveals that, among the 200 largest worldwide ... Read the full article

Zurich’s International Programs business goes digital

16th June 2022

Zurich Insurance Group (Zurich) has announced the digitalisation of its International Programs business. According to the group, the transformation to its program workflow will significantly enhance customer and broker experience and allow for a more efficient, seamless and sustainable collaboration. The digital exchange of data between ... Read the full article

What could hard market pricing mean for insurtechs seeking reinsurers?

13th June 2022

There are concerns over how the access of some insurtech firms to reinsurance may be impacted by hard market pricing. According to analysts, price adequacy and underwriting results may be affected by access to reinsurance capital. An analyst at Goldman Sachs, who recently had discussions with insurtech companies at a recent conference, ... Read the full article

Pen Underwriting appoints Dan Hydleman as specialist tech underwriter

13th June 2022

Pen Underwriting has appointed Dan Hydleman as a specialist technology underwriter. The company said that Hydleman will be based in its Leeds office and will report into Tom Dixon, head of technology. He joins from Hiscox where he has been an underwriter specialising in technology since 2019. Dixon said: “Dan is ... Read the full article

Insurtech Cytora names Zaheer Hooda as Head of North America

9th June 2022

UK insurtech Cytora has appointed Zaheer Hooda - former Senior Vice President of Data and Digital Enablement for Hiscox USA, as its Head of North America. Within his new role, Hooda will bring his fifteen years of experience within the industry, which includes driving strategic operational and digital transformation projects for ... Read the full article

Kovrr collaborates with Microsoft on internal cyber security data

8th June 2022

Cyber risk modeller Kovrr has announced its selection by Microsoft for Startups – a global program dedicated to accelerating the trajectory of high-potential start-ups to enable growth at scale. By being a program member, this will give Kovrr exclusive access to Microsoft’s technology, as well as its mentorship and business support. In ... Read the full article

CoreLogic announces collaboration with Hiscox London Market

8th June 2022

Leading global property data and analytics-driven solutions provider, CoreLogic, has announced that Hiscox London Market has adopted its PxPoint technology to better understand property risk and enhance underwriting accuracy. Delivered through the RiskMeter platform, the solution uses advanced geocoding technology to provide detailed information from precise location to structure, to assess ... Read the full article