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.
Property & casualty business now live on PPL
6th November 2017
The Board of PPL Ltd, a core component of the London Market Target Operating Model, has announced that property and casualty lines of re/insurance business are now live on its electronic placement platform. The move means that the area of London market insurance and reinsurance business with the greatest volumes can ... Read the full article
Reinsurers need to manage expense & invest in InsurTech: PwC
6th November 2017
In the consistently competitive, challenged and evolving reinsurance market, companies need to focus on cost optimisation and reducing expenses, in order to remain agile and be able to take advantage of future opportunities, according to PwC. Add on the impacts of recent catastrophic losses, which are estimated to total an industry-wide ... Read the full article
Emerging Asia speeds ahead in InsurTech race: Willis Towers Watson
3rd November 2017
Emerging markets are the potential forerunners of the innovation race - often able to bring new solutions to the market at a faster pace than peers operating in highly developed markets - according to Willis Towers Watson's Q3 InsurTech briefing. With an emphasis on the China and Emerging Asia operating environment, ... Read the full article
“Best innovation” comes when incumbents work in start-up environment
31st October 2017
"You get the best innovation when you combine an incumbent working alongside the start-up environment," said Chief Investment Officer (CIO) of SyndicateRoom, James Sore, at a panel session in London that looked at what re/insurers can do to create the best environment for start-ups to thrive. "A good few years ago ... Read the full article
QBE closes RiskGenius investment, enters into multi-year product agreement
30th October 2017
QBE Ventures, a division of QBE Insurance Group Limited, has now closed its first investment in machine learning company, RiskGenius, as part of its technology investment programme. RiskGenius assists carriers, brokers and regulators when analysing policy and endorsement language and aid in product development, and QBE has also entered into a multi-year ... Read the full article
Singapore aims to be global capital for Asian insurance and risk transfer
30th October 2017
The Monetary Authority of Singapore (MAS) has published a roadmap for the future of its financial services sectors, including insurance and risk transfer, aiming to become the leading hub in Asia and putting technology at the heart of industry transformation. The industry transformation map (ITM) for financial services, published by MAS, ... Read the full article
Insurdata raises $1 million for innovative risk data capture
25th October 2017
Insurdata - an insurtech firm pioneering the intelligent capture of risk data has raised over $1 million in seed financing from investors Menlo Ventures, Anthemis, Baloise Strategic Ventures and Plug and Play. The InsurTech firm intelligently captures and transfers high-resolution, peril-specific exposure and risk data, providing re/insurers building-level property data delivered ... Read the full article
“Disruption doesn’t bring opportunities, we have to earn them” – James Nash
23rd October 2017
“I believe there is substantial value creation potential in the future,” said Guy Carpenter's James Nash, at the Baden-Baden Reinsurance Symposium, “however, disruption does not automatically bring opportunities, we have to earn them. "We won't be able to capture this potential without transforming our industry and without extending our business models, ... Read the full article
Re/insurance essential to managing today’s megatrends: Industry experts
20th October 2017
The megatrends of today's world are driving new and additional risks to economies in all regions, highlighting the necessity and value of re/insurance protection in mitigating the risks and increasing global resilience. Speaking as part of a panel at the recently held Guernsey Insurance Forum in London, PwC's Global InsurTech Leader, ... Read the full article
WEF & re/insurers work to close emerging risks protection gap
19th October 2017
In a new World Economic Forum-led initiative, re/insurers, tech firms, and government representatives will collaborate to develop strategies for the management of emerging risks from fourth industrial revolution innovations. Innovations such as drones and driverless cars have the potential to unleash a new set of uninsured risk on societies in the ... Read the full article
Re/insurance solutions evolve to cover intangible corporate assets: Swiss Re
16th October 2017
Re/insurance product development and innovation around data and data analytics have expanded the scope of solutions from tangible to intangible assets, to cover a wider range of threats and improve corporate risk management, according to Swiss Re's latest sigma study. Companies are increasingly using novel insurance solutions to protect earnings, reduce ... Read the full article
InsurTech start-ups remain attracted to P&C: Report
16th October 2017
Research from Celent, a research and advisory company with a focus on technology and Guy Carpenter, a reinsurance brokerage, reveals that a third of InsurTech accelerators by line of business members are property & casualty (P&C) focused. The new report, titled "Insurtech Accelerators: A Market Scan," reveals that the number of ... Read the full article
Guidewire Software to acquire P&C insurance software provider Cyence
12th October 2017
Software provider to Property and Casualty (P&C) insurers, Guidewire Software, has entered into an agreement to acquire Cyence, a software provider that uses data science and risk analytics to expand P&C insurers' underwriting capabilities to include previously uninsured risks. Cyence offers a data listening and risk analytics solution that combines curation ... Read the full article
Blockchain will do for re/insurance what the internet did for information: IBM interview
12th October 2017
With the Blockchain Insurance Industry Initiative (B3i) in the market-beta testing phase of its reinsurance blockchain prototype and due to be deployed into production next year, Reinsurancene.ws spoke to IBM's Insurance Industry Global Managing Director, Sandip Patel, about which areas of the re/insurance value chain he expects will see real ... Read the full article
Gen Re partners with TrackActive to enhance health solutions for insurance industry
11th October 2017
Global reinsurer Gen Re is to collaborate with digital health provider, TrackActive, to deliver innovative and effective solutions to its life and health customers in the international insurance sector. TrackActive recently completed the Startupbootcamp InsurTech London accelerator programme, and the company has seen impressive take-up of its clinical software in numerous ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
