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.
Chubb to launch new tech hub in Greece
13th December 2022
Property and casualty insurer Chubb has announced plans to launch a new technology services center in Thessaloniki, Greece in early 2023. Technical engineers and developers employed at the center will look to drive initiatives in areas such as intelligent process automation, machine learning, cloud, and data analytics, as well as cybersecurity ... Read the full article
DXC unveils new broking platform, announces Lockton as first customer
12th December 2022
DXC Technology has unveiled its new global digital broking platform – DXC Assure Broking, with independent insurance brokerage, Lockton as it’s first customer. Lockton is using DXC’s cloud-based platform for its UK retail business with a view to expanding across other geographies and sectors. Running on Amazon Web Services (AWS), DXC Assure ... Read the full article
Munich Re to launch behavioural rating services platform
12th December 2022
Global reinsurer Munich Re and JiuGe Technology, subsidiary of mobile data and services company FingerMotion, are ready to launch their new behavioural rating services platform for commercial use. Through a proprietary behaviour intelligence system developed by "Sapientus", the analytic innovation development arm of FingerMotion, the partner companies said they will bring ... Read the full article
Mosaic partners with Safe Insurance to launch cyber risk platform
12th December 2022
Underwriting company, Mosaic Insurance has partnered with Safe Security to use its award winning SAFE platform to help underwrites evaluate cyber risks for brokers and insureds. The platform offers a real-time view of the extent and nature of a company’s enterprise-wide cyber risk, allowing the most accurate exposure analysis, coverage, and ... Read the full article
Tremor claims half of capacity authorised within one day
9th December 2022
The online reinsurance pricing and placing platform Tremor Technologies says that half of participating reinsurers authorise capacity within a day, with full program capacity received in fewer than three days. Sean Bourgeois, CEO of Tremor, said: “Tremor’s market design enables efficient pricing and allocation of reinsurance programs competitively. Many 1/1 programs ... Read the full article
The Ardonagh Group selects AutoRek to drive efficiency
9th December 2022
The Ardonagh Group has selected AutoRek, a leading software provider to global financial services firms, as the group is looking to drive efficiency in key back and middle office Insurance Broker Accounting (IBA) processes using intelligent automation technology. According to the annoucement, the initial scope for AutoRek will be to support ... Read the full article
Zywave launches new solution for insurer & broker partnerships
8th December 2022
Insurtech leader, Zywave has launched a new solution for the insurance market aimed at enhancing the value delivered by insurers, MGAs, and third parties to the UK retail broker market. The offering is an extension to Zywave’s Broker Briefcase, a tool which is used to support brokers in their sales, marketing ... Read the full article
NEXT Insurance appoints Rhodes as Chief Insurance Officer
7th December 2022
NEXT Insurance a leading digital insurtech company has appointed Chris Rhodes as the company's first Chief Insurance Officer. Within this role, Rhodes will use his extensive industry experience to focus on the insurance function to support product development, elevate the claims automation experience and help connect profit management and loss ... Read the full article
Milliman adds new tools to Arius insurtech software
7th December 2022
Global consulting and actuarial firm Milliman has released the latest version of its Arius insurtech software solution, a reserve analysis system for property and casualty insurers and large self-insureds. The new release provides significant enhancements to the systems' analytical and reporting capabilities. This update includes tools to help actuaries and insurance analysts ... Read the full article
AI use in Bermuda re/insurance market low, but set to accelerate: BMA
2nd December 2022
A new report by the Bermuda Monetary Authority (BMA) has concluded that use of artificial intelligence and machine learning technologies in the Bermuda re/insurance market is still currently in its infancy, but is set to pick up significantly over the next five years. Machine learning, which focuses on the use of ... Read the full article
Yokahu, FloodFlash & Vitesse collaborate on new parametric product
2nd December 2022
Climate risk insurance platform Yokahu, flood parametric insurtech FloodFlash, and global fintech Vitesse have collaborated on a parametric product to accelerate payments from insurers to policyholders to prevent small and medium-sized businesses from failing after extreme weather events. Leveraging its global digital banking distribution, Vitesse has developed a platform that allows ... Read the full article
Singapore insurtech Igloo extends Series B funding round to $46m
30th November 2022
Singapore-based insurtech Igloo has announced that it has successfully raised an additional $27 million in its Series B extension led by the InsuResilience Investment Fund II, bringing a close to the funding round at $46 million. The InsuResilience Investment Fund II, initiated by German development bank KfW on behalf of the ... Read the full article
CyberCube reveals Version 4.0 of Account Manager
29th November 2022
Cyber risk analytics provider CyberCube, has released Version 4.0 of Account Manager, its software-as-a-service (SaaS) application for single risk re/insurance underwriters. The latest version of Account Manager includes a variety of improvements including new data, usability enhancements, as well as scoring and signal refinements. New financial quantification insights have also been introduced, ... Read the full article
Ariel Re hires cleantech specialist Tad Dritz as Senior Risk Analyst
28th November 2022
Global reinsurer Ariel Re has appointed clean energy and renewables technology consultant Tad Dritz as a Senior Risk Analyst. In this role, Dritz will help the company to evaluate the technical risks associated with clean energy technologies, including biofuels, bioenergy, battery storage, fuel cells, hydrogen and solar. Dritz also works as an ... Read the full article
Fanhua agrees to acquire Chinese life MGA Zhongrong, launches new tech offering
25th November 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to 62 million new ordinary shares of Fanhua, representing 5.44% of its enlarged share capital, in exchange ... Read the full article