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.
Synpulse announces partnership with insurtech Cenata
30th November 2023
Synpulse, a global professional services company, has partnered with insurtech software provider Cenata for its outwards reinsurance system. Cenata’s CenataSure, provides real time outwards reinsurance management for commercial insurers and reinsurers. The system is acclaimed for its automation, integration, and reporting features, These are capabilities a modern operating model for ceded business ... Read the full article
First-of-its-kind InsurTech Coalition launched by Lemonade, Root, Clearcover, & others
30th November 2023
Members from Boost, Branch, Clearcover, Lemonade, Root Insurance, and others, have launched an advocacy group called InsurTech Coalition that aims to shape the industry’s future. Insurtech Coalition has published an open letter to the industry that lays out its founding principles, which includes using technology responsibly within insurance. The letter reads: "The ... Read the full article
Berkshire Hathaway exits India’s Paytm with $164mn sale
24th November 2023
Berkshire Hathaway, the Warren Buffett-run holding company, has exited India’s Paytm by selling its 2.5% stake in the digital payments service provider via a bulk deal on Friday. The company sold its entire stake in the digital payments firm for about 13.71 billion rupees ($164.70 million), as first reported by Reuters. According ... Read the full article
Insurtech Mulberri launches AI-powered Risk Assistant
7th November 2023
Insurance startup Mulberri, has launched its new AI-powered Risk Assistant and rolled out its embedded property and casualty platform to make insurance innovation accessible to a broad range of industries outside payroll and Human Resources (HR) providers. Now industries including associations, brokers, insurtechs, carriers, MGAs, financial institutions, cyber technology providers, ISPs ... Read the full article
Global InsurTech investment surpasses $1 billion in Q3: Gallagher Re
2nd November 2023
According to Gallagher Re's latest Global InsurTech Report, new funding for the global InsurTech sector hit $1.1 billion in Q3 of 2023. As per the reinsurance broker's report, this was mainly driven by a 25.5% quarter-on-quarter surge in P&C InsurTech investment. Gallagher noted that this rise occurred even as average deal size ... Read the full article
Mission Underwriters appoints Jim Dwane as new CEO
1st November 2023
Mission Underwriting Managers, an insurance program administrator, has announced the appointment of Jim Dwane as its new Chief Executive Officer, effective immediately. As the new CEO, Dwane is poised to lead the company into a new period of growth and success. His appointment comes as the company's founding CEO pursues new ... Read the full article
Sprout.ai raises £5.4m to transform claims processing
31st October 2023
Sprout.ai, a claims automation insurtech, has raised £5.4 million in a round led by venture capital investors Amadeus Capital Partners and Praetura Ventures. At the same time, UK investor Capricorn Capital Partners, US investor Forefront Venture Partners, Canadian investor Verstra Ventures and UK investor Portfolio Ventures Angel Fund also join Sprout.ai’s ... Read the full article
QuoteWell emerges from stealth with $15M Series A funding led by NEA
30th October 2023
Insurtech startup QuoteWell unveiled its "innovative" approach to the insurance industry as it emerges from stealth mode. The company, founded in 2021, has raised over $15 million in a Series A funding round led by New Enterprise Associates, Inc. (NEA), with participation from Goldcrest and Floating Point. Joey Bouchard, CEO and Founder ... Read the full article
“Exceptional results” validate the Israeli InsurTech Accelerator program effectiveness: CEO Bendelak
30th October 2023
The Israeli InsurTech Accelerator program has reported “remarkable results” driving innovation and growth within the country’s start-up industry, InsurTech Israel has stated. Since its inception over two years ago, the program has contributed significantly to the evolving landscape of InsurTech in Israel. The country’s capital, Tel Aviv, has become a vibrant ... Read the full article
DGTAL launches new AI data capturing & process automation tool
26th October 2023
DGTAL, a Software-as-a-Service (SaaS) platform providing artificial intelligence (AI) powered audit and tools for insurance portfolios, has launched a new Intelligent Document Processing tool, GRABBER. The new tool excels at understanding, extracting and validating data from sources such as invoices, bank statements, utility bills, quotes, order forms etc, DGTAL stated. This eliminates ... Read the full article
Lloyd’s syndicate HRP partners with insurtech Optalitix to transform underwriting
20th October 2023
Hampden Risk Partners (HRP), a Lloyd's syndicate primarily supported by Hampden Agencies, has successfully implemented Optalitix Quote, the underwriting workbench to transform underwriting. The workbench, created by insurtech Opalitix, a specialist data analytics solutions provider, aims to drive the profitability and strategic growth of the business. It allows underwriters to embed ... Read the full article
Insurance innovation hub Howden Ventures launches with £500m underwriting capacity
16th October 2023
Global insurance group Howden has unveiled an innovative venture known as Howden Ventures, pending approval from Lloyd's, aimed at accelerating insurance product development. Described by the broker as a world-first insurance innovation hub, the initiative launches with £500 million in delegated underwriting capacity and seeks to become an investment and risk ... Read the full article
Jen Tan joins Artificial Labs as Head of Portfolio Strategy
16th October 2023
Artificial Labs, a UK insurtech providing algorithmic underwriting technology to the commercial and specialty insurance market, has appointed Jen Tan as Head of Portfolio. Tan joins Artificial with 14 years’ experience in Lloyd’s and London Market pricing, portfolio management and risk management. In her new role, she will play an integral ... Read the full article
InsuranceDekho raises $60m in second funding round of the year
12th October 2023
India-based InsuranceDekho has raised $60 million Series B funding, a mix of equity and debt, as the startup looks to supercharge its growth. The round was led by Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, Japan’s Mitsubishi UFJ Financial Group and Beams Fintech Fund. Its existing investors ... Read the full article
wefox appoints Wismer as Group CFO, Wesemann becomes new CIO
6th October 2023
Insurtech wefox has appointed Jonathan Wismer as its new Group Chief Financial Officer (CFO), while Co-founder and current CFO, Fabian Wesemann, has been named the new Chief Investment Officer (CIO). Wismer joins the company’s executive team, and he will also report to Julian Teicke, founder and CEO of the company. Wismer, an ... Read the full article