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 use in Bermuda re/insurance market low, but set to accelerate: BMA
2nd December 2022
A new report by the Bermuda Monetary Authority (BMA) has concluded that use of artificial intelligence and machine learning technologies in the Bermuda re/insurance market is still currently in its infancy, but is set to pick up significantly over the next five years. Machine learning, which focuses on the use of ... Read the full article
Yokahu, FloodFlash & Vitesse collaborate on new parametric product
2nd December 2022
Climate risk insurance platform Yokahu, flood parametric insurtech FloodFlash, and global fintech Vitesse have collaborated on a parametric product to accelerate payments from insurers to policyholders to prevent small and medium-sized businesses from failing after extreme weather events. Leveraging its global digital banking distribution, Vitesse has developed a platform that allows ... Read the full article
Singapore insurtech Igloo extends Series B funding round to $46m
30th November 2022
Singapore-based insurtech Igloo has announced that it has successfully raised an additional $27 million in its Series B extension led by the InsuResilience Investment Fund II, bringing a close to the funding round at $46 million. The InsuResilience Investment Fund II, initiated by German development bank KfW on behalf of the ... Read the full article
CyberCube reveals Version 4.0 of Account Manager
29th November 2022
Cyber risk analytics provider CyberCube, has released Version 4.0 of Account Manager, its software-as-a-service (SaaS) application for single risk re/insurance underwriters. The latest version of Account Manager includes a variety of improvements including new data, usability enhancements, as well as scoring and signal refinements. New financial quantification insights have also been introduced, ... Read the full article
Ariel Re hires cleantech specialist Tad Dritz as Senior Risk Analyst
28th November 2022
Global reinsurer Ariel Re has appointed clean energy and renewables technology consultant Tad Dritz as a Senior Risk Analyst. In this role, Dritz will help the company to evaluate the technical risks associated with clean energy technologies, including biofuels, bioenergy, battery storage, fuel cells, hydrogen and solar. Dritz also works as an ... Read the full article
Fanhua agrees to acquire Chinese life MGA Zhongrong, launches new tech offering
25th November 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to 62 million new ordinary shares of Fanhua, representing 5.44% of its enlarged share capital, in exchange ... Read the full article
AdvantageGo names Ian Summers Global Business Leader
21st November 2022
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has appointed Ian Summers as Global Business Leader. In his new role, Summers will be responsible for the strategic direction and the operations of the company and leading AdvantageGo´s dedicated team of specialists in delivering best-in-class commercial re/insurance software that transforms ... Read the full article
Tech and human intelligence in re/insurance should work as a “marriage”: Collins, Corinthian Re
18th November 2022
The role that technology plays in the re/insurance industry is increasing and this is happening at a time when market participants are striving for greater efficiency, in an effort to both lower costs and remain relevant in an evolving sector. For Christopher Collins, CEO of Corinthian Re, there needs to be ... Read the full article
Insurtech Bluezone gets reinsurance backing for life insurance solution
17th November 2022
Insurtech Bluezone has secured its first-choice global reinsurer to partner with as it remains on track to launch its first product in the first quarter of 2023. Following a successful £1.5 million seed investment round led by Insurtech Gateway earlier this year, Bluezone has now confirmed it has successfully obtained its ... Read the full article
Novidea hires Matt Richards as Head of UK Delivery
16th November 2022
Global insurTech Novidea, has appointed Matt Richards as its new Head of UK Delivery. Within this role, Richards will have overall responsibility for UK customer deliveries to ensure that Novidea consistently meets its customer requirements, as well as its own high standards for excellence in service and delivery for its insurance ... Read the full article
Lemonade Q3 premiums increase but loss grows
9th November 2022
A letter from Lemonade to its shareholders says that in-force premiums (IFP) with the firm have risen 76% year on year to reach $609m in Q3 2022. The insurer said that (IFP) stood at $347m in Q3 2021 and at $189m in Q3 2020. Gross earned premiums over the same periods ... Read the full article
BOXX Insurance acquires cyber platform Templarbit
9th November 2022
Toronto-based cyber insurance specialist BOXX Insurance has acquired cyber intelligence platform Templarbit. Terms of the deal were not disclosed, but BOXX said it gave the firm ‘additional momentum’ to pursue its vision of ‘making the world a digitally safer place’. With teams in Palo Alto and Los Angeles, Templarbit was founded by ... Read the full article
Zurich launches global API marketplace
8th November 2022
Zurich Insurance Group has launched Zurich eXchange, a next generation global Application Programming Interface (API) marketplace. According to the firm this move marks the next chapter of Zurich’s digital transformation journey. Zurich eXchange will facilitate faster integration and more efficient collaboration throughout the company and with customers and partners. An API is ... Read the full article
Chubb Studio expands tech features
7th November 2022
Chubb has announced that its global integration platform, Chubb Studio, has introduced new features that can embed insurance into the digital environments of its distribution partners more easily. The platform's three new features provide Chubb's distribution partners with access to Chubb-developed software development kits (SDKs) that enable the company's partners to ... Read the full article
Swiss Re partners with insurtech Jooycar to boost auto insurance telematics
2nd November 2022
Global reinsurance giant Swiss Re has entered an alliance with Latin American auto insurtech Jooycar to boost auto insurance telematics benefiting small and medium-sized commercial fleets in Mexico. The insurtech will offer its fleet management service, "Fleetr by Jooycar", to the Mexican market, which it states was a success in its ... Read the full article
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