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.
wefox closes $400m Series D round, taking valuation to $4.5bn
12th July 2022
wefox, the Berlin-based digital insurer, has seen its post-money valuation increase to $4.5 billion after the company successfully closed a $400 million Series D funding round, led by sovereign investor Mubadala Investment Company. Comprised of both debt and equity, the raise also featured participation from Eurazeo, LGT, Horizons Ventures, OMERS Ventures ... Read the full article
Munich Re syndicate backs new spot-cargo insurtech
11th July 2022
Munich Re Syndicate, the Lloyd's of London Marine & Specialty underwriter of reinsurance giant Munich Re, is set to back MiKargo247.com, a new insurtech, created specifically for one-way, spot-cargo freight. MiKargo247.com will aim to provide freight brokers, 3PLs and motor carriers with access to insurance that protects cargo and helps it ... Read the full article
BlackFin raises €350 million for investments in EU insurtechs
11th July 2022
BlackFin Capital Partners has announced a second closing of its Tech 2 fund dedicated to European fintechs and insurtechs to the tune of €350 million. The fund, which is now already double the size of its predecessor, will be invested in Europe’s most promising fintechs and B2B insurtechs. At a time when ... Read the full article
YuLife raises $120m in Series C funding led by Dai-ichi Life
7th July 2022
YuLife has raised $120m in a Series C round of funding that the firm says it will use to accelerate its global expansion. The firm said in a statement that this round of investment had been led by Dai-ichi Life. The funding round, which was supported by YuLife’s existing investors, takes the ... Read the full article
Ledgebrook names Steve Mills as new President, E&S
30th June 2022
Ledgebrook, a tech-enabled E&S MGA, has appointed E&S veteran Steve Mills as the company’s President, E&S. He will be responsible for delivering wholesale brokers a best-in-class experience across Ledgebrook's E&S product lines. Prior to joining Ledgebrook, Mills served as President, E&S at The Hanover Insurance Group. Mills brings with him 30+ years of ... Read the full article
ICEYE launches geospatial flood analysis platform
30th June 2022
ICEYE, a provider of SAR data and natural catastrophe analysis solutions, has announced the launch of ICEYE Insights, a geospatial platform that allows insurers to combine ICEYE’s flood observation data with their property insurance information. Utilising the EigenPrism catastrophe risk management tool, the ICEYE Insights platform is automatically updated with data ... Read the full article
New tech helping to “predict” adverse events in real-time: AXA
29th June 2022
A move towards prevention through predictive technologies will become commonplace in certain insurance sectors, according to the chief strategy and business development officer at the global insurer, AXA. The two main trends that are making insurers shift to prevention, noted Georges Desvaux, are the growing complexity of risks society faces, and ... Read the full article
Booming tech M&A deals present unique insurance risks, says CFC
29th June 2022
Specialist insurance provider CFC has encouraged brokers to play a greater role in helping their tech clients mitigate the unique risks they face when considering any merger or acquisition deal. The cites the top three risks within tech M&A deals as intellectual property, data protection and cyber security. “The tech sector saw ... Read the full article
Policy Expert up for potential £1bn sale
28th June 2022
Sources have reported that options are being explored for a potential £1 billion sale of UK digital home and car insurer Policy Expert. Bloomberg writes that investment firm Primary Group and advisors Perella Weinberg Partners are working with Policy Expert’s parent company, QMetric Group, to look at possible buyers. It’s been reported ... Read the full article
Data analytics firm Confianza closes seed funding round
27th June 2022
Confianza, Inc., a provider of data analytics and machine learning to insurance agents, brokers, and carriers in the US, has announced the first close of its seed funding round, led by Sandbox Insurtech Ventures. Founded in 2020 by insurance industry veterans Jeffrey Glazer and John Petricelli, Confianza aims to help ... Read the full article
Hyper-personalisation is the future of Insurtech – Capco
24th June 2022
Insurtech firms that prioritise hyper-personalisation and embedded insurance will come out the long-term winners and define the sector in the coming years, according to Usman Sheikh, Executive Director at Capco. “Despite flagship Insurtech brands decreasing in valuation this year and the sector facing a ... Read the full article
Tim Spencer of Prima XL on the future role of reinsurtech
23rd June 2022
Digitisation has been a buzzword across multiple sectors and industries in recent years as an increasingly online and mobile-connected world population has come to expect their insurers in turn to fully embrace the revolution of a hyper-connected world. And where the insurers go, the reinsurers will be expected to follow. And, ... Read the full article
Ledger Investing raises $75mn in Series B Funding to democratize Insurance Risk Capital
22nd June 2022
InsurTech start-up, Ledger Investing has announced that it has raised $75 million in Series B funding led by WestCap, with participation from Teachers’ Venture Growth and Intact Ventures, and previous investors: SignalFire, MassMutual Ventures, Allegis Capital, and Accel. Ledger Investing will use the funds to accelerate revenue growth across its insurance-linked ... Read the full article
Spain’s Mutua Madrileña opts for pricing solution from Akur8
22nd June 2022
Mutua Madrileña, one of Spain’s largest insurers, has chosen Akur8 as its new pricing solution for non-life insurance lines in the country, including motor, home and multi-risk business. Akur8, an AI-driven pricing insurance company, says the partnership will also allow it to strengthen its presence in Spain. The firm’s pricing automates rate ... Read the full article
Munich Re backs Amber Group digital asset cover by Arch & OneDegree
21st June 2022
Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd's and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re. The comprehensive global insurance coverage will protect digital assets held in Amber Group’s wallet infrastructure on ... Read the full article