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.
State Auto launches $25m InsurTech venture fund
29th September 2017
The innovation arm of State Automobile Mutual Insurance, State Auto Labs Corp, has launched a $25 million corporate venture fund, backed by Rev1 Ventures, to connect InsurTech and FinTech startups with capital technologists and insurance industry experts. The aim of the venture is to identify transformation technologies and solutions and invest ... Read the full article
Duperreault says underwriters should be “part actuary, part data scientist:”reports
28th September 2017
AIG's Chief Executive Brian Duperreault highlighted the changing role of the underwriter as an integral part of re/insurance industries adaptation to the "modern era" of AI and technology, saying they need to become "part actuary, part data scientist," in an interview with Asia Nikkei. The skill set required by underwriters ... Read the full article
Boost Insurance raises $3m for InsurTech Development Platform
27th September 2017
Boost Insurance has raised $3 million led by Norwest Venture Partners to set up an InsurTech Development Platform that aims to streamline the go-to-market process for startups. In addition to Norwest, industry investors include program fronting specialist State National Companies, ILS fund manager Nephila Capital, and other VC's IA Capital Group, ... Read the full article
MarketScout launching $25m InsurTech venture investment fund
25th September 2017
Texas-based insurance exchange and managing general agent MarketScout is set to launch an InsurTech venture investment fund, capitalised with $25 million to focus on distribution related opportunities. Richard Kerr, Founder and CEO of MarketScout, commented on the organisations InsurTech venture investment thesis; “MarketScout was founded as a web-enabled insurance exchange back ... Read the full article
Bestow partners with Munich Re to develop life insurtech platform
22nd September 2017
Bestow has partnered with the U.S. life and disability reinsurance division of Munich Re, Munich American Reassurance Company, to develop new life solutions for Bestow's on-demand life insurance platform. The partnership aims to leverage insurtech to redefine how the industry markets insurance through offering consumers a new way to research, buy, ... Read the full article
PartnerRe enters into agreement with FinTech RemitRadar
21st September 2017
Reinsurer PartnerRe has entered into a new joint agreement with RemitRadar to develop digital insurance solutions and provide PartnerRe's clients with access to innovative distribution channels. The new partnership aims to utilise the opportunity to adopt RemitRadar's online channels, as well as its social media channels and artificial technology (AI) to ... Read the full article
AI could “fundamentally close a lot of the protection gap,” Swiss Re CEO Mumenthaler
12th September 2017
The Chief Executive Officer (CEO) of reinsurance giant Swiss Re, Christian Mumenthaler, believes advanced technology, such as artificial intelligence (AI), can help to close the global protection gap. Addressing an audience during the PwC breakfast at the 2017 meeting of the reinsurance industry in Monte-Carlo, Mumenthaler spoke about the increased digitisation ... Read the full article
InsurTech investments up as reinsurers embrace collaboration: PwC
11th September 2017
The global reinsurance industry increasingly views the InsurTech space as an opportunity, as its sentiment shifts from "fear to bullishness" and collaboration replaces scepticism, according to a new survey from PwC. During the second-quarter of 2017 investment in InsurTech by insurers, reinsurers, and also venture capital firms increased by a huge ... Read the full article
B3i launches market testing programme for re/insurance blockchain prototype
11th September 2017
B3i, the blockchain Insurance Industry Initiative, launched a market beta-testing programme for its newly developed blockchain driven platform for reinsurance transactions at the Monte Carlo RVS conference. All insurance industry participants have been invited to join in B3i's market beta-testing programme for the prototype which is set to begin from October. The ... Read the full article
China Continent Insurance Co adopts eBaoTech’s new generation core system
8th September 2017
China Continent Insurance Co (CCIC) has adopted eBaoTech’s micro service and cloud-native architecture based new generation core system to lead its digital transformation. China’s sixth largest insurer said the underwriting and reinsurance systems provided by eBaoTech form important components of the firm’s strategic IT transformation. CICC general manager, Chen Yong, commented; "CCIC ... Read the full article
Drover & Munich Re unit partner to launch product for ride-sharing drivers
7th September 2017
Drover and Munich Re’s Digital Partner have partnered to offer ride-sharing drivers and fleet owners bespoke insurance. Clients will be able to buy, renew and maintain policies online through Drover’s online car marketplace platform. Felix Leuschner, CEO and co-founder of Drover, said; "This partnership between Drover and Munich Re will deliver game-changing ... Read the full article
Maiden Re invests in InsurTech drone start-up, Betterview
7th September 2017
Reinsurer Maiden Re has announced an investment in InsurTech drone start-up, Betterview, which has now closed a $2.05 million Series Seed round. The latest capital raise takes Betterview's total funding to $3.65 million, and was led by Compound Venture Capital, and included investments from Maiden Re, 645 Ventures, Arab Angel, Winklevoss ... Read the full article
Insurtech Lemonade expands reinsurance program, now has $325m of cover
1st September 2017
Insurtech start-up insurer Lemonade, one of the most high-profile companies to come out of the insurance technology wave, has recently completed an expansion to its reinsurance program, which sees the firm with a huge $325 million of capacity backing it. Lemonade is utilising reinsurance capital as one of its backers, it ... Read the full article
Reinsurers well-placed for long-term reinsurtech success: S&P
30th August 2017
Reinsurers have been expanding their product range and reach with reinsurtech investments and developments, and are using technology as an interface to pass on risks to the capital markets - factors which show the industry is choosing to embrace and flow with the changes instead of buck the tide of ... Read the full article
Gen Re partners with iXledger on blockchain for life & health insurance
29th August 2017
iXledger and Gen Re have announced a partnership to use blockchain and other technologies to develop life and health insurance cover products. Ross Campbell, Chief Underwriter, Life/Health Research & Development, Gen Re, said; "We are very pleased to have established this strategic collaboration with iXledger to create transformative solutions that better ... Read the full article
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