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.
Insurtech funding slumps by 57% in Q4: Gallagher Re
2nd February 2023
New data from reinsurance broker Gallagher Re shows that global insurtech investment declined by 57.0% to $1.01 billion in the fourth quarter of 2022, when compared with the previous quarter. According to the broker’s Global InsurTech Report, this means that insurtech funding is at its lowest quarterly point since Q1 2020. The ... Read the full article
Slide acquires Florida renewal rights & intellectual property from UPC
1st February 2023
Full-stack insurtech Slide Insurance has acquired the exclusive renewal rights for over 91,400 Florida homeowners insurance policies from UPC Insurance. Slide suggests that the acquired policies represent $272 million in annual premium, bringing its total in-force premium value to $560 million. Under the terms of the transaction, UPC will cancel most of ... Read the full article
Arbol transacts $170m in GWP in 2022
31st January 2023
Arbol, a global climate risk solutions platform, has reportedly transacted $170m in gross written premium (GWP) in 2022, marking significant growth and traction for the Arbol platform as it more than doubled its 2021 GWP of $70m. The InsurTech platform and FinTech company also reported cash flow-positive operations for the second-consecutive ... Read the full article
Swiss Re’s iptiQ and Candid announce partnership
30th January 2023
UK-based insurtech Candid and Swiss Re’s iptiQ have entered into a distribution partnership to provide affordable and accessible life insurance solutions to UK customers. This strategic partnership harnesses Candid's leading position in distributing life insurance products to UK customers and iptiQ’s cutting-edge digital B2B2C insurance platform, combined with its underwriting expertise. According ... Read the full article
reThought Insurance completes $10.5m funding round
30th January 2023
Technology-centric flood MGA, reThought Insurance has raised $10.5 million in a Series B funding round, which closely follows a successful $15.5 million round last summer. According to the announcement, the capital expansion will be used to extend the distribution of its advanced commercial and High Net Worth flood insurance products, and ... Read the full article
Insurtech Betterview raises new funding round
30th January 2023
Betterview, an insurtech company that allows insurers to identify and manage real property risk, has announced it has completed a new round of funding of undisclosed amount. Backers included existing investors EMC Insurance, Guidewire Software, Nationwide, MaidenRE, and ManchesterStory. The company intends to use the funds to continue its growth, support the ... Read the full article
MIS launches hail within its GEO tech platform
27th January 2023
InsurTech McKenzie Intelligence Services (MIS), has launched a U.S. market-first product aimed to accelerate incident and claims responses following hailstorm events. With the addition of hail to the Global Events Observer (GEO), insurers and loss ajustor clients will now be able to gain data-driven, actionable insights for hailstorm events, with near ... Read the full article
FutureProof appoints Ram Keralapura as Chief Technology Officer
23rd January 2023
FutureProof, a climate-focused MGA, has appointed Dr. Ram Keralapura as its new Chief Technology Officer. Dr. Keralapura brings nearly two decades of engineering, data science and leadership experience towards the role. Additionally, he also brings a deep level of expertise in cybersecurity, complex risk analysis, and building digital platforms towards the ... Read the full article
RSA makes senior additions to CIO leadership team
19th January 2023
RSA Insurance has announced the additions of Sally Ng and Katie Hermans to it CIO leadership team as Specialty & Commercial Delivery Director and as Head of Technology Risk Management, respectively. Ng will be responsible for driving the technology transformation roadmap for RSA Commercial Lines, Specialty Lines and European businesses. She brings ... Read the full article
Insurtech Joyn Insurance gets $17.7m in Series A funding round
18th January 2023
Insurtech company Joyn Insurance has announced it exceeded its target with a $17.7 million Series A funding round led by OMERS Ventures, with participation from SiriusPoint, ManchesterStory, Cohen Circle, Avanta Ventures and several other private investors. Joyn launched in July of 2021, announcing a key partnership and investment agreement with the ... Read the full article
Parametric flood insurer, FloodFlash launches in the US
17th January 2023
Parametric flood insurer FloodFlash has announced that it has entered into the US insurance market. After a devastating hurricane season in the US, policyholders have been waiting weeks, and in some cases, months, to receive claims to be able to rebuild their businesses and revive local economies. Moreover, in the wake of ... Read the full article
Treefrog partners with Gustavo Loret de Mola for launch of virtual CTO offering
12th January 2023
Bermuda-based Treefrog Consulting, a software development company delivering technology solutions to clients in the international (re)insurance and ILS space, has announced a new partnership with an insurance technology veteran, Gustavo Loret de Mola, for the launch of its latest virtual insurance Chief Technology Officer (CTO) offering. The service is aimed at ... Read the full article
Superscript gets £45m in Series B funding round
11th January 2023
London-based insurtech Superscript has announced the completion of its £45 million ($54m) Series B funding round led by existing investor BHL UK with participation from a new investor, The Hartford. According to Superscript, the funding will be used to further develop the firm's underwriting and broking capabilities, as well as to ... Read the full article
Previsico to leverage €4.3bn Meteosat satellite to deliver better flood forecasts
10th January 2023
Live flood alert Insurtech Previsico is set to leverage the new €4.3bn Meteosat satellite system to deliver even faster and more accurate flood warnings for clients like Zurich, Liberty, and Generali. The insurtech already provides real-time, property-level surface water flood forecasts that enable clients to mitigate flood impacts, which are given ... Read the full article
Duck Creek agrees acquisition by Vista for $2.6bn
9th January 2023
P&C solutions provider Duck Creek Technologies has agreed to be acquired by global investment firm Vista Equity Partners in an all-cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Duck Creek shareholders will receive $19.00 per share in cash, which represents a 46% premium to Duck Creek’s ... 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.
