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InsurTech

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

Challenges and opportunities for insurtech start-ups: A.M. Best

20th January 2017

After witnessing the fintech revolution transform the finance world, re/insurers are moving quickly to invest in insurtech start-ups - a technological revolution pushed by tough market conditions and pulled forwards by massive possibilities. The huge influx of capital means carriers are coming under increasing pressure to find more ... Read the full article

Soft re/insurance market conditions now main obstacle to MGA growth

20th January 2017

Soft re/insurance market conditions have replaced regulation and compliance as the main factor impacting growth of managing general agents (MGAs), according to a survey released yesterday by MGA start-up specialists, Castel Underwriting Agencies Limited (Castel). The Managing General Agents’ Association (MGAA), a Castel research-based partnership, surveyed its members to identify factors ... Read the full article

InsurTech innovation key to re/insurers survival: Davos WEF 2017

19th January 2017

At the 2017 World Economic Forum in Davos the technological revolution and strategies for how to remain on the cutting-edge of the innovation race have been a focal point for industry experts across finance, insurance and reinsurance industries. John Cryan, Deutsche Bank CEO, named effectively using technology as the key to ... Read the full article

Insurtech Bought By Many raises £7.5m, Munich Re to provide capacity

16th January 2017

Insurance technology (insurtech) start-up Bought By Many has raised a £7.5 million (US$9.5 million) Series A venture round, and reinsurance firm Munich Re is one of the backers. Bought By Many uses social media and search data in order to provide insight-driven insurance to customers. Through the addition of this insight, ... Read the full article

SCOR targets underwriting efficiency with LifeSuite tech Asia-Pacific expansion

12th January 2017

Paris, France headquartered global reinsurance firm SCOR is aiming for improved turnaround speed in its life underwriting business in Asia Pacific, by rolling out the StoneRiver LifeSuite® automated Life underwriting system in the region. SCOR already uses the StoneRiver life insurance and reinsurance technology platform in its Paris office, and has ... Read the full article

Munich Re launches telematics app with DriveFactor

12th January 2017

Munich Re continues to display its insurtech ambitions, launching a telematics application on the Apple and Android app stores in recent days, in partnership with CCC owned DriveFactor. Global reinsurance firm Munich Re is increasingly diving into the world of insurance technology (insurtech), as it seeks to understand how tech can ... Read the full article

Hannover Re backs insurtech start-up

11th January 2017

Hannover Re US is backing life insurance technology (insurtech) start-up Ladder, another example of the growing trend of insurtech start-ups partnering directly with reinsurance capital. This alignment with the biggest reinsurance game-players means start-ups have direct access to the capacity needed to help them scale. In turn, reinsurers benefit from a more direct ... Read the full article

Peak Reinsurance gets technological makeover

10th January 2017

Peak Reinsurance Company (Peak Re) has upgraded its underwriting and claims management system with Appion - a new "low-code" platform. The Global Top-50 reinsurance firm has long been an avid-user of the latest digital technologies, ensuring its systems are open, transparent and responsive. "Peak Re is committed to investing in technology," said ... Read the full article

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