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.
Hiscox partners with tech start-up Digital Fineprint
25th August 2017
Specialist insurer Hiscox has partnered with tech start-up Digital Fineprint to investigate how data from social media can be used to educate small businesses on their risks and respective insurance solutions. Hiscox said many small businesses are underinsured yet face a number of business interruption risks from expensive lawsuits or costs ... Read the full article
AXIS Capital targets insurtech in Plug and Play accelerator partnership
24th August 2017
Bermuda headquartered global insurance and reinsurance firm AXIS Capital Holdings Limited has announced a partnership with Silicon Valley start-up accelerator Plug and Play as it targets a deeper involvement in helping to develop InsurTech start-ups. By participating in Plug and Play’s InsurTech platform, AXIS will get to work alongside leading digital ... Read the full article
Sompo rolls out London Market systems integration platform
21st August 2017
Sompo International has rolled out a new platform for systems and data integration in the London Market, Guidewire PolicyCenter’s underwriting and policy management solution, the Global Commercial Accelerator. Guideware Software - a provider of software products to general insurers - was selected by Sompo as part of its global effort to ... Read the full article
Verisk acquires re/insurance software specialist Sequel
21st August 2017
Verisk Analytics said it is to acquire commercial and specialty insurance and reinsurance software specialists, in a deal expected to further expand Verisk's offerings and give the firm a stronger foothold in the London market. Verisk is set to acquire Sequel for £250 million from HgCapital and other Sequel investors. Sequel ... Read the full article
Reinsurers welcomed HCI’s use of tech to increase transparency during Matthew
18th August 2017
Paresh Patel, the Chairman and Chief Executive Officer (CEO) of HCI Group, Inc. has revealed how the company's adoption and utilisation of technology turned out to be a big differentiator during hurricane Matthew, raising the homeowners' insurers profile while provide its reinsurers with welcomed transparency. Speaking during the company's second-quarter 2017 ... Read the full article
InsurTechs won’t be able to disrupt the entire industry: Munich Re’s Jeworrek
14th August 2017
As a flurry of InsurTech and FinTech startups continue to enter the global insurance and reinsurance industry, undoubtedly some will be very good and should be promoted for the industry, however, they will not be able to disrupt the entire risk transfer space, according to Torsten Jeworrek, Munich Re's Chief ... Read the full article
Spinnaker selects TigerEye platform to structure reinsurance portfolio
11th August 2017
Spinnaker has chosen to use TigerRisk Partners’ TigerEye® platform to help the company structure its reinsurance portfolio and support its existing underwriting strategy, particularly for catastrophe exposure management. TigerEye is a portfolio roll-up and reinsurance structuring tool, created by the reinsurance broker and capital advisor TigerRisk Partners, that helps insurers make data-driven ... Read the full article
Swiss Re & Wellthy Therapeutics partner to improve access to diabetes insurance
10th August 2017
Reinsurance giant Swiss Re is to partner with Indian digital therapeutics firm, Wellthy Therapeutics, in order to develop more accessible, affordable and effective insurance solutions for people with Type 2 Diabetes. Based in Mumbai, India, Wellthy Therapeutics is one of five companies selected as part of Swiss Re's InsurTech Accelerator programme ... Read the full article
Big data to transform consumer proposition through bespoke coverage
2nd August 2017
There are many ways big data and technology promise to revolutionise the re/insurance process and policies, but for the consumer, possibly one of the biggest transformations will come from re/insurers' ability to offer a product that’s tailor-made to individual use as technological advances increase data volume and analytics. As growing databases ... Read the full article
Clients to take more control of products & distribution: W.R. Berkley CEO
1st August 2017
The concerning yet still attractive reinsurance marketplace is going through unprecedented change supported by the rise of InsurTech, and the future of the industry will see customers take more control over the evolution of both products and distribution, according to Robert Berkley, President and Chief Executive Officer (CEO) of W.R. ... Read the full article
Allianz and InsurTech start-up Flock announce pay-as-you fly drone cover
1st August 2017
Allianz and InsurTech start-up Flock have announced the soon to come launch of the UK's first pay-as-you fly drone insurance that can be tailored to each flight through the Flock app and provides up to £10 million liability cover. The pay-as-you-fly drone insurance is the first product to be launched by ... Read the full article
Potential for Africa to be a leader in digital insurance: Allianz
28th July 2017
The African risk transfer industry has the potential to transition itself into a global digital insurance leader, driven by customer demand for innovative solutions and favourable rules and regulations, according to Allianz Chief Executive Officer (CEO), Oliver Bäte. Speaking at the 44th annual Insurance Conference in Sun City, South Africa, the Allianz CEO ... Read the full article
Will brokers role in value chain be disrupted by digital? Inga Beale
27th July 2017
As market middle men the role of brokers has come under fire with re/insurers moving further on down the value chain to access risk directly as their revenue and profitability is squeezed by the softening reinsurance market environment, and with the digital revolution disrupting all industry players, the brokers role in ... Read the full article
Aquiline Capital Partners closes InsurTech investment fund at $190 million
27th July 2017
New York private equity investor, Aquiline Capital Partners has today closed its Technology Growth Fund (ATG) with total capital commitments reaching about $190 million. The final ATG figure raised its original $150 million investment fund target by almost one-quarter. The ATG fund targets investment in InsurTech, asset management technology, benefits and retirement, ... Read the full article
InsurTech to significantly disrupt insurance distribution & impact rates
26th July 2017
Richard Kerr, the Chief Executive Officer (CEO) of U.S. domiciled insurance exchange, MarketScout, has said that for the first time in two decades insurance distribution is to experience significant disruption, which in turn will support lower premiums, all driven by the continued rise of InsurTech. "By utilizing new tech-enabled distribution, underwriters ... Read the full article
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