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.
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
Accelerant sets up Brussels office
16th June 2022
Insurtech platform Accelerant has announced the establishment of a new EU headquarters in Brussels, as it continues to target expansion in Europe. Founded in 2018, Accelerant specializes in serving a network of managing general agents (MGAs). Accelerant Insurance Europe S.A. was formed in 2021 with the ability to trade across the UK ... Read the full article
Insurers must do more to modernise, says ACORD
16th June 2022
ACORD, the standards-setting body for the global insurance industry, has released its 2022 Insurance Digital Maturity Study of the world's 200 largest insurance carriers. This year the Maturity Study has expanded to include mutuals — an important component in the insurance industry. It reveals that, among the 200 largest worldwide ... Read the full article
Zurich’s International Programs business goes digital
16th June 2022
Zurich Insurance Group (Zurich) has announced the digitalisation of its International Programs business. According to the group, the transformation to its program workflow will significantly enhance customer and broker experience and allow for a more efficient, seamless and sustainable collaboration. The digital exchange of data between ... Read the full article
What could hard market pricing mean for insurtechs seeking reinsurers?
13th June 2022
There are concerns over how the access of some insurtech firms to reinsurance may be impacted by hard market pricing. According to analysts, price adequacy and underwriting results may be affected by access to reinsurance capital. An analyst at Goldman Sachs, who recently had discussions with insurtech companies at a recent conference, ... Read the full article
Pen Underwriting appoints Dan Hydleman as specialist tech underwriter
13th June 2022
Pen Underwriting has appointed Dan Hydleman as a specialist technology underwriter. The company said that Hydleman will be based in its Leeds office and will report into Tom Dixon, head of technology. He joins from Hiscox where he has been an underwriter specialising in technology since 2019. Dixon said: “Dan is ... Read the full article
Insurtech Cytora names Zaheer Hooda as Head of North America
9th June 2022
UK insurtech Cytora has appointed Zaheer Hooda - former Senior Vice President of Data and Digital Enablement for Hiscox USA, as its Head of North America. Within his new role, Hooda will bring his fifteen years of experience within the industry, which includes driving strategic operational and digital transformation projects for ... Read the full article
Kovrr collaborates with Microsoft on internal cyber security data
8th June 2022
Cyber risk modeller Kovrr has announced its selection by Microsoft for Startups – a global program dedicated to accelerating the trajectory of high-potential start-ups to enable growth at scale. By being a program member, this will give Kovrr exclusive access to Microsoft’s technology, as well as its mentorship and business support. In ... Read the full article
CoreLogic announces collaboration with Hiscox London Market
8th June 2022
Leading global property data and analytics-driven solutions provider, CoreLogic, has announced that Hiscox London Market has adopted its PxPoint technology to better understand property risk and enhance underwriting accuracy. Delivered through the RiskMeter platform, the solution uses advanced geocoding technology to provide detailed information from precise location to structure, to assess ... Read the full article
WTW’s Radar upgrade mitigates “black-box” risks with increased transparency
20th May 2022
Re/insurance broker WTW has announced the launch of the newest version of its leading-edge Radar pricing software, Radar 4.15. The latest version overcomes a major barrier to wider adoption of machine learning by introducing a market-first capability, making it significantly easier for insurers to benefit from the full predictive power of ... Read the full article
Ed Gaze steps down from Lloyd’s Lab
19th May 2022
Ed Gaze has announced he is stepping down from his role as head of Lloyd’s Lab, the insurtech innovation incubator embedded within the London-based insurance and reinsurance marketplace. In a LinkedIn post, Gaze said that he was moving but gave no further details as to his next destination. However, he said that ... Read the full article
Aspen brings its clout to Counterpart
13th May 2022
Insurtech firm Counterpart has gone into partnership with Aspen Insurance and Markel to give small businesses access to the former’s management liability products. In a statement, Counterpart said that Aspen was joining as a member company of Markel. Tanner Hackett, CEO of Counterpart, said: “From vaccine mandates to hybrid workplaces to supply ... Read the full article
Qoala becomes SEA’s fastest growing insurtech through $65m Series B funding
13th May 2022
Indonesian insurtech start-up Qoala, has announced that it has successfully raised Series B funding of US$65 million, a thirty times growth since the company’s Series A round in April 2020. The Series B funding was led by by Eurazeo with participation from other existing investors including Flourish Ventures, KB Investment, MassMutual ... Read the full article
Howden launches new digital trading platform called xTrade Cargo
11th May 2022
Howden has launched xTrade Cargo, an end-to-end digital trading platform. This new initiative launched as a proof of concept in 2019 for Cargo SME business and today provides 20 leading cargo carriers with access to the largest and most complex cargo risks in the sector. It enables insurer participants to collect ... Read the full article