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.
Canopius launches technology & data hub in Manchester
2nd November 2022
Global specialty re/insurer Canopius has announced the launch of the ‘Canopius Tech & Data Hub’ in Manchester, UK. The Hub will begin operating early next year, says Canopius, and will ensure that that company is developing the best possible solutions within the data and technology sphere, while also supporting its strategic ... Read the full article
Lemonade joins the Association of British Insurers following UK launch
2nd November 2022
Digital insurance company Lemonade has joined the ABI as its latest member following the firm's launch in the UK. Lemonade recently launched in the UK with its digital-first and instantaneous approach to contents insurance, entering a long-term, strategic partnership with Aviva. At the time, Daniel Schreiber, Lemonade co-CEO and co-founder, commented, ... Read the full article
Cover Genius raises $70mn in Series D funding led by Dawn Capital
2nd November 2022
Global insurtech, Cover Genius has announced that it has raised $70 million in Series D funding in a round led by Dawn Capital, along with participation from new investor, New York-based Atlas Merchant Capital, and existing investors, including GSquared and King River Capital. The raise will assist in the insurtech’s rapid ... Read the full article
Insurtech funding stable through ‘inflection point’ Q3: Gallagher Re
1st November 2022
New data from re/insurance broker Gallagher Re shows that $2.35 billion of global insurtech-sector investment was made in Q3 2022, which marked something of an “inflection point” for the space. The level of investment was in fact down 2.5% from Q2's total, but Gallagher Re notes that the headline figure masks ... Read the full article
ICMIF launches new insurance sustainability impact quantification tool
1st November 2022
The International Cooperative and Mutual Insurance Federation (ICMIF) has launched a tool to quantify insurance sustainability impact against the Insurance Sustainable Development Goals (iSDGs). Described as the first tool of its kind, the ICMIF-calibrated Insurance SDG Calculator was developed by the Swiss Re Institute under the UN Principles for Sustainable Insurance ... Read the full article
Cyber insurers to benefit from SentinelOne’s new risk management app
31st October 2022
SentinelOne, an autonomous cybersecurity platform company, has announced the addition of a new app for cyber insurers' risk management in its Singularity Marketplace. For organisations, the WatchTower Vital Signs Report app communicates an accurate profile of cyber security posture and controls to cyber insurers, streamlining the process of obtaining cyber insurance ... Read the full article
Artificial Labs adds Ascot founder Martin Reith as Chairman
27th October 2022
Artificial Labs, a UK insurtech providing algorithmic underwriting technology to the commercial and specialty insurance market, has announced the appointment of Martin Reith as Chairman of its Board. Reith has almost 40 years’ experience in the insurance and reinsurance space and is the founder and former Group CEO of Ascot Underwriting ... Read the full article
Acrisure to acquire two more firms
26th October 2022
Fintech firm Acrisure is to acquire the firms Sutton Winson and Sutton Specialist Risks (SSR). Both deals are subject to FCA approval and are expected to close within the next few weeks. This year, the firm says that it has completed or has under a letter of intent more than 120 ... Read the full article
Moody’s partners with Cytora to digitise core risk workflows
25th October 2022
Moody’s Analytics and insurtech, Cytora, have entered into a partnership to provide the commercial insurance industry a more streamlined and informed understanding of risk. The data provided by Moody’s comes pre-integrated into the Cytora platform, which will provide insurers with a superior risk selection driving uplift to GWP. Commercial insurers will now ... Read the full article
Insurtech Otonomi raises $3.4m to build blockchain-powered parametric cargo platform
18th October 2022
Insurtech and parametric cargo insurance platform, Otonomi has announced that it has closed a $3.4 million funding round to build a first-to-market blockchain-powered parametric cargo platform. The funding round was led by ATX Ventures, followed by GSR Ventures, Greenlight Re Innovations, Punja.VC, Altari Ventures, Soundboard Venture Fund, Blackhorn VC, Bering Waters, ... Read the full article
bolttech completes Series B round of fundraising
18th October 2022
Singapore-based insurtech firm bolttech has completed Series B investment. The firm said in a statement that the round was led by Tokio Marine and other shareholders, and now values bolttech at an up-round valuation of approximately $1.5bn. This comes a year after the firm closed its Series A funding round after raising ... Read the full article
SecondSight launches AI-driven platform for underwriting amid funding round
14th October 2022
SecondSight has announced the launch of an AI-driven platform for "inside-out" underwriting, alongside an "oversubscribed" $3 million seed round of financing led by Tim Crown (co-founder of Insight Enterprises) with participation from Indiana Ventures, Cook Ventures, and Flywheel Fund, among other investors. SecondSight states that its product is the insurance industry’s ... Read the full article
Codan Marine and Concirrus enter partnership
13th October 2022
Danish marine insurance and service provider Codan Marine has entered a multi-year contract with AI insurtech Concirrus to improve risk insights and prediction to strengthen solutions for customers. Under the deal, Codan Marine has added Concirrus’ data analytics platform, Quest Marine, to their portfolio of advanced tools. It said that this ... Read the full article
E-trading to be the norm in the London Market by 2023: Gracechurch Consulting
12th October 2022
According to Gracechurch Consulting’s recent London Insurance Technology Monitor report, most brokers & underwriters prefer to use an e-trading platform than not, with eight in ten believing that e-trading will be the norm for everyone in the London Market by mid-2023. The report suggests that in the first half of 2021, ... Read the full article
Tremor launches Reinsurer Product Council with eight members
11th October 2022
Platform company Tremor Technologies has launched its Reinsurer Product Council with its first cohort of eight global reinsurance companies and ILS funds participating representing nearly $100bn in industry capital. The firm said in a statement that participating companies include a cross section of major US, Bermudian and European reinsurers as well ... Read the full article
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