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.
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
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
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