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.

Acrisure acquires artificial intelligence insurance business from Tulco

4th August 2020

Acrisure has announced that it has acquired artificial intelligence leader, Tulco LLC’s insurance practice to bring in data science, AI and machine learning capabilities to the insurance brokerage industry. Acrisure said that the acquisition will be “a transformational move” for the company as it will enable a true deployment of insurtech ... Read the full article

B3i announces first live partner application on Fluidity platform

3rd August 2020

The Blockchain Insurance Industry Initiative (B3i) has partnered with Reinsurance Technical Accounting Blockchain (Ritablock) to launch the first live partner application on its B3i Fluidity platform. B3i’s Fluidity platform is designed to facilitate and accelerate the development and deployment of partner applications, interoperable within B3i’s distributed ecosystem. This gives partners access to ... Read the full article

Milliman updates P&C reserve analysis system

3rd August 2020

Global consulting and actuarial firm Milliman has released version 2020b of its Arius solution, a family of reserve analysis systems for property and casualty re/insurers. The update provides enhancements to the systems’ analytical capabilities, together with new additions to the reporting and data management tools. According to Milliman, this release adds new ... Read the full article

Lemonade reinsurers betting on improved loss ratio: analysts

28th July 2020

Analysts are forecasting an improvement in the loss ratio of insurtech firm Lemonade over the coming quarters, based on its current reinsurance arrangements. Taking 75% of the risk for every premium dollar Lemonade writes, reinsurers are bearing the bulk of the loss ratio outcome, good or bad, JMP Securities notes. The insurtech’s ... Read the full article

Global insurtech investment rebounds 71% to $1.5bn in Q2: WTW

28th July 2020

Global Insurtech investment hit $1.56 billion during the second quarter of 2020, an increase of 71% compared to Q1, according to Willis Towers Watson. 2020's first quarter was heavily influenced by the uncertainty surrounding COVID-19. WTW says the increase in Q2 was driven in part by later-stage investments, including four ‘mega-rounds’ in ... Read the full article

SSP joins Willis Towers Watson’s Radar Live program

24th July 2020

Broker Willis Towers Watson (WTW) has announced it will partner with insurance software provider SSP to optimise real-time pricing and time to market for insurance companies. SSP will join WTW’s global Radar Live collaborator program, improving its ability to derive insights from various data sources and to deploy machine learning models ... Read the full article

Insurtech Branch closes $24mn Series A funding round

23rd July 2020

Branch, a tech-driven home and auto insurer, has closed a $24 million Series A funding round that was co-led by Greycroft and HSCM Bermuda, with participation from both returning and new investors. Over the past year, Branch has launched in Arizona, Illinois, Missouri, Ohio, and Texas, and the Series A funding ... Read the full article

Google-backed Lloyd’s syndicate Ki adds Dan Hearsum as MD

23rd July 2020

Ki, the first fully digital and algorithmically-driven Lloyd’s syndicate has announced the appointment of Dan Hearsum as Managing Director. Launched in collaboration with Brit Limited and Google Cloud, Ki was launched to reduce the amount of time taken for brokers to place their follow capacity. In his new role, Hearsum will report to ... Read the full article

Insurtech Marrikel launches reinsurance broking platform

22nd July 2020

Insurtech start-up Marrikel has launched its web-based reinsurance placement platform and signed its first broker licensee. Marrikel was founded by Frederik Eloff and James Karim in 2018 with an aim of increasing the efficiency and transparency of reinsurance transactions. The new platform enables brokers to manage the entire reinsurance transaction-flow, integrating multiple ... Read the full article

Verisk launches Life Risk Navigator software platform

22nd July 2020

Data analytics provider Verisk has announced the release of Life Risk Navigator, a cloud-based stochastic risk modelling platform to inform risk selection, quantify changes in mortality rate, and improve hedging strategies. The analytics provided by Life Risk Navigator are driven by Verisk’s Life Risk Models, a set of probabilistic risk models ... Read the full article

Insurtech Hippo hits $1.5bn valuation after closing Series E round

21st July 2020

Hippo, a California-based insurtech focused on US home insurance, has reached a $1.5 billion valuation following the conclusion of a $150 million Series E funding round. In the past 12 months, the company has grown its total written premiums to $270 million, growing at 140% Year-over-Year. Hippo says funding will be used ... Read the full article

COVID-19 to accelerate insurtech’s “silent metamorphosis”: Munich Re’s Paul Donnelly

17th July 2020

The COVID-19 pandemic is set to accelerate a “silent metamorphosis” that the re/insurance industry has been undergoing in recent years regarding its use of technology. This is according to Paul Donnelly, Executive Vice President for EMEA at Munich Re Automation Solutions, the specialist insurtech subsidiary of the global reinsurer. Speaking in an ... Read the full article

Munich Re insurtech subsidiary partners with Generali Indonesia

16th July 2020

Munich Re Automation Solutions, an insurtech subsidiary of the global reinsurer, has joined forces with life insurer Generali Indonesia in an effort to help boost the latter's underwriting process and streamline the risk assessment process. Reports from Fi News suggest Munich Re AS will provide its cloud-based business, digital underwriting and ... Read the full article

Insurtech Previsico develops new underwriting tool at Lloyd’s Lab

16th July 2020

Live flood forecasting specialist Previsico has launched a new underwriting tool, developed during its time at the Lloyd’s Lab, to enhance insurers’ flood risk models for both residential and commercial property, and fine art risks. The new underwriter modelling solution was designed with input and analysis from leading re- insurers over ... Read the full article

Insurtech firm Insurity acquires Virtual MGA

15th July 2020

Insurity, Inc., a provider of cloud-based core system solutions and data analytics for the re/insurance market, has acquired Austin, Texas-based Virtual MGA. The deal follows the recent acquisition of Epic-Premier and further expands Insurity’s cloud-based core systems offerings for the MGA and broker markets. Virtual MGA offers a cloud-based binding authority underwriting ... Read the full article

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