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InsurTech

Harnessing big-data essential for re/insurers

17th March 2017

Learning to harness big-data to their benefit is essential for insurers and reinsurers looking to maintain and increase their market shares and profitability, according to Fitch Ratings. The rating agency explains in a new report that those failing to keep pace with technological change and innovation, such as how to leverage ... Read the full article

“Insurance 2.0” an opportunity to build revenue and resilience: Swiss Re

16th March 2017

The fusion and development of emerging and existing technology is expected to transform the international risk landscape and drive an evolution of the global insurance and reinsurance industry, highlighting a need for industry participants to adapt to "Insurance 2.0" or risk missing out, says Swiss Re. "Today, there's enormous potential for change ... Read the full article

Insurance supervisors must understand and adapt to FinTech: IAIS

15th March 2017

The development of innovative FinTech has the potential to disrupt the global insurance and reinsurance industry in numerous ways, highlighting a range of challenges and opportunities for insurance supervisors, says the International Association of Insurance Supervisors (IAIS). In a new report, the IAIS explores the potential disruption the global insurance industry ... Read the full article

Blockchain: Why re/insurers need to take control of their future

14th March 2017

In this contributed article, Tom Johansmeyer, assistant vice president, PCS Strategy and Development, at ISO Claims Analytics, a division of Verisk Insurance Solutions, discusses the need for insurance and reinsurance market participants to engage with the global blockchain community. Blockchain: Why re/insurers need to take control of their future Waiting for a ... Read the full article

Technology and getting closer to the risk key for Munich Re: Doris Höpke

8th March 2017

Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Reinsurancene.ws. Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article

Asian insurance market must embrace the rise of Insurtech

6th March 2017

The rise of technology or Insurtech in the global insurance and reinsurance industry is driving innovations and opportunities in the Asian marketplace as should be embraced rather than avoided, according to industry leaders and experts. Speaking to A.MBestTV at the 2017 Asia CEO Insurance Summit held in Singapore recently, insurance industry ... Read the full article

Re/insurers need to cooperate to realise benefits of Insurtech: Celent

2nd March 2017

Celent - a finance information technology consultancy firm - has highlighted how the insurance and reinsurance sector could benefit from cross-sector collaboration by leveraging the finance sectors' experience of cooperative development and applying R3 earnings to the re/insurance sector. R3 is a membership organization which facilitates exploration of distributed ledger technology ... Read the full article

Ariel Re to use Xuber software across Lloyd’s and Bermuda platforms

1st March 2017

Reinsurance firm Ariel Re, which was recently acquired by Argo Group, is implementing the Xuber for Reinsurers software platform across its Lloyd’s and Bermuda businesses. By adopting the Xuber technology Ariel Re is replacing its existing legacy systems with a single platform that offers end-to-end business processing and financial reporting for ... Read the full article

Technology to bridge re/insurance protection gap: Geneva Association

23rd February 2017

Re/insurance think tank, The Geneva Association, (GA) has released a study revealing how technology's streamlining of re/insurance processes is set to play a pivotal role in bridging the protection gap between insured and economic losses. At around $40 billion, last year’s insured loss estimates rose to their highest figure since four years, ... Read the full article

London Market Group to add reinsurance to PPL trading platform

8th February 2017

The London Market Group has announced plans to revamp its electronic trading platform (PPL) and said it’s looking to expand the lines of business available for trading to include reinsurance. The Group plans to introduce further enhancements to the platform in April, improving functions to make it relevant to all classes ... Read the full article

Iain Davie joins QuanTemplate from QBE Re

6th February 2017

Financial technology firm QuanTemplate Technologies Ltd. has hired Iain Davie from QBE Re as a Senior Solutions Architect, effective immediately. Davie will report to QuanTemplate Co-founder and Chief Executive Officer (CEO), Adrian Rands, and is expected to assist London market clients in gaining benefits through integration technology advances, which aims to ... Read the full article

Reinsurers seek new opportunities as value-chain blurs: S&P

31st January 2017

The value-chain within insurance and reinsurance is blurring, with companies reacting to the highly competitive market environment, new entrants from the InsurTech arena and third-party capital players, but reinsurers are seeking to benefit by securing new opportunities to source risk. Ratings agency Standard & Poor's (S&P) discussed the "blurry value chain" ... Read the full article

B3i blockchain re/insurance consortium seeks expanded role

25th January 2017

The Blockchain Insurance Industry Initiative (B3i), a consortium of leading insurance and reinsurance companies seeking to collaborate on blockchain powered solutions for the industry, is seeking more members and to expand its remit. According to Reuters, the B3i initiative is looking to add more members, with reinsurance firm Swiss Re (a founding ... Read the full article

Munich Re U.S. adds InsurTech innovation role, appoints Mozeika

24th January 2017

Reinsurance giant Munich Re has created a new role in the U.S. as it seeks to help its clients seize opportunities resulting from the InsurTech wave and technological developments in risk transfer business. Robert Mozeika has been appointed to the newly created Innovation Executive at Munich Reinsurance America, Inc., the global ... Read the full article

SCOR & ChainThat test blockchain proof-of-concept for reinsurance

23rd January 2017

French reinsurance giant SCOR has been working on testing a blockchain based proof-of-concept for digitalising certain reinsurance market processes with start-up ChainThat. As the insurance technology (InsurTech) trend continues to accelerate, the majority of major reinsurance firms have been involved in testing blockchain technology (the distributed ledger style database that underpins ... Read the full article

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