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.
Lemonade shatters record by using AI to settle a claim in two seconds
14th June 2023
InsurTech firm Lemonade has broken a world record by settling an insurance claim within two seconds by using AI and machine learning. Renowned for leveraging AI and machine learning technology to enhance and improve customer experiences, Lemonade has developed cutting-edge technology to streamline and arguably revolutionize the insurance claim process. Through their ... Read the full article
Cover Whale surpasses $500m in all-time written premium
13th June 2023
Cover Whale, a rapidly growing insurtech and commercial trucking insurance provider, has surpassed the $500 million mark in all-time written premium. This milestone represents the firm's rapid growth since it wrote its first commercial trucking policy in March 2020. It also clearly demonstrates Cover Whale's position as a "driving force" within ... Read the full article
Arturo expands catastrophe response capabilities to the United States
13th June 2023
Arturo, the property intelligence company that delivers portfolio-wide underwriting, risk and claims insights, has announced a global expansion of its catastrophe response capabilities to the United States insurance market. In the last couple of years, Arturo has proven the value in bridging disparate data sets to derive impactful property insights, playing ... Read the full article
OneDegree partners with Microsoft to drive Insurtech & cybersecurity innovations with Azure OpenAI
12th June 2023
OneDegree Global, a technology startup in the insurtech and cybersecurity sectors, has entered into a strategic partnership with Microsoft Hong Kong. The collaboration marks a major milestone between the two companies as OneDegree integrates Azure OpenAI Service into its IXT insurtech and Cymetrics cybersecurity solutions. OneDegree recently unveiled its latest generative AI ... Read the full article
IA Capital Group adds three new senior team members
7th June 2023
IA Capital Group, an insurtech-focused venture capital firm has appointed three new senior team members. The company has confirmed that Dr. Christy Lane, formerly an IA Capital Advisory Partner, joins the firm's core team as a Venture Partner. Dr. Lane currently serves as the Director of Insurance Solutions for Health Gorilla, an ... Read the full article
Cover Genius bolsters executive team
6th June 2023
Cover Genuis, the insurtech for embedded protection has expanded its executive team by appointing Kyle Keogh as Chief Business Officer, Americas, hiring Barney Pierce as interim Chief Business Officer, EMEA and APAC and expanding the role of Darcy Rittinger to Chief Risk Officer. In his role as Chief Business Officer, Americas, ... Read the full article
Broker Insights appoints Tom Duke as Chief Operating Officer
30th May 2023
Tom Duke, a veteran of Scotland’s high-growth technology sector, has joined Broker Insights as Chief Operating Officer. Duke has over two and a half decades of experience working in technology companies, having worked with several fast-growing businesses, like Broker Insights, to design and develop products that can keep pace with the ... Read the full article
Slide Insurance places reinsurance program for 2023 hurricane season
26th May 2023
Full-stack homeowners insuretech Slide Insurance has completed its reinsurance program for the 2023 hurricane season, bolstering its ability to protect policyholders across Florida and South Carolina. According to Slide, its reinsurance program exceeds regulatory and rating agency requirements. The comprehensive reinsurance tower protects the firm to the 185-year return period, reduces retention ... Read the full article
AdvantageGo and Tremor announce a strategic alliance
23rd May 2023
AdvantageGo, a commercial insurance and reinsurance software provider that is a part of Coforge, has announced a strategic alliance with Tremor, an online reinsurance pricing and placing platform. Tremor has modernised the way to place reinsurance. It provides reinsurance cedents with a new channel and an automated approach for finding the ... Read the full article
Insurtech bolttech valued at $1.6 bn after raising $196m in Series B round
17th May 2023
International insurtech bolttech is now valued at $1.6 billion after raising $196 million in its Series B round, led by Japanese insurer Tokio Marine. Other key investors included MetLife Next Gen Ventures, a MetLife subsidiary, and Malaysia’s sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders. The proceeds of ... Read the full article
wefox secures $110m with J.P. Morgan and Barclays backed facility
17th May 2023
Germany-based insurtech wefox has raised a total of $110m with a $55m credit facility from J.P. Morgan and Barclays, the remaining $55m in equity was raised from both new and existing investors as a second closing of the Series D funding at a valuation of $4.5bn. According to the announcement, the ... Read the full article
Insurity partners with VIPR on automated program management
12th May 2023
Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has partnered with VIPR Solutions to improve program business efficiencies. With a focus on the London market and US domestic P&C market, Insurity and VIPR plan to integrate their platforms in an effort to provide real-time data exchange for ... Read the full article
Insurtech Concirrus partners with data and analytics provider Percipience
10th May 2023
Percipience LLC, an insurance data and analytics platform provider, and insurtech Concirrus have announced a new partnership aimed to expand data capabilities for insurers. According to the announcement, this partnership brings together the best of breed data analytics and Artificial Intelligence (AI) capabilities. It combines Percipience’s comprehensive insurance data and analytics platform ... Read the full article
BrokerTech Ventures launches $34 million BrokerTech Fund
4th May 2023
BrokerTech Ventures (BTV) has partnered with ManchesterStory Group to launch the BrokerTech Fund, LP, a venture capital fund focused on early-stage insurtech companies developing broker-centric technology solutions. ManchesterStory, the Fund's General Partner, is an early-stage venture capital firm that manages more than $225 million in committed capital across multiple funds focused ... Read the full article
Global InsurTech funding rises by 37.6% in Q1 2023: Gallagher Re
4th May 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter's lowest total since Q1 2020. While the deal count remained steady, the average deal ... 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.
