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.
Munich Re to utilise AI driver tech from Netradyne
16th March 2022
Munich Re America Services has announced that it plans to use Driver•i technology from Netradyne within its Smart Mobility Program to help its clients reinforce good driver behaviour. The reinsurer will add Netradyne's AI-enabled camera system to its list of approved risk solutions for commercial fleet clients. Munich Re's Smart Mobility team ... Read the full article
Ariel Re picks up Portfolio Manager from CyberCube
15th March 2022
Ariel Re has decided to implement analytics platform Portfolio Manager into its organisation. The software, from CyberCube, is a scenario-based data-driven model that enables risk professionals to develop insights for their senior leadership and teams. Portfolio Manager stress tests portfolios of insurance and reinsurance risks against a range of systemic cyber-related ... Read the full article
Cargo insurtech Loadsure secures $11m in MMC-led funding round
15th March 2022
Insurtech MGA Loadsure has raised $11 million in a Series A funding round, led by MMC Ventures alongside Crowley, a global maritime, energy, and logistics company and existing investor Insurtech Gateway. Loadsure provides a transactional cargo insurance platform and automated claims process. It plans to use the funding to scale its organisation, ... Read the full article
DXC appoints leader for software & business process solutions
9th March 2022
Global technology services provider DXC Technology has announced the appointment of Raymond August as President, Insurance Software and Business Process Solutions. He will lead the development and growth of DXC’s insurance software and insurance, banking and horizontal business process services (BPS). Revenue for these businesses is currently included in Applications and Business ... Read the full article
FRISS acquires Polonious software
9th March 2022
AI-powered fraud and risk solution provider for the property & casualty insurance sector FRISS has acquired Polonious, a software for special investigations and case management, which will enable FRISS to support claims departments, special investigations units and private investigations firms. Polonious’ product will improve FRISS Investigations capabilities worldwide, closing the loop ... Read the full article
WTW makes senior hire within consulting & tech unit
2nd March 2022
Re/insurance broker WTW has announced the appointment of Pardeep Bassi as Global Proposition Leader in Data Science for its Insurance Consulting and Technology business. In this newly created role, Bassi will lead the advancement of the unit’s data science capability globally, building on WTW’s analytics and data science software, Emblem and ... Read the full article
Tremor releases cloud-based system for buying and selling retro coverage
2nd March 2022
Tremor Technologies has released RetroOS, which it calls ‘a cloud-based operating system for reinsurers buying and selling retro coverage’. In a statement, the company said that the 125 reinsurers that it does business with can now buy or sell UNL, parametric, or blended retro coverage directly through the platform. Tremor Technologies ... Read the full article
Aon acquires Tyche actuarial software platform
1st March 2022
Aon plc has acquired actuarial software platform Tyche from technology and software firm RPC Tyche, which will provide re/insurers a single technology platform with the ability to seamlessly integrate capital modelling, pricing and reserving to drive better decision-making across both life and non-life business. Tyche is a specialist in developing customised ... Read the full article
MAPFRE launches new insurtech scale-up program
28th February 2022
MAPFRE has launched a new scale-up program for insurtechs that offers up to €100,000 of financing per project, focusing on health and wellness, climate risks, and cybersecurity for SMEs. This version of insur_space is MAPFRE’s fourth to date, and is aimed at early-stage or growth companies that already have a product ... Read the full article
Aanika Biosciences accepted into BMA Reinsurance Innovation Hub
28th February 2022
Aanika Biosciences, an emerging biotech company that uses microbial based technologies to improve food safety, has received acceptance into the Bermuda Monetary Authority’s (BMA) Innovation Hub. The program will allow reinsurers to explore how the application of Aanika’s traceability and prevention technology can help reduce the size of claims while lowering ... Read the full article
Travelers acquires assets of insurtech Trōv
25th February 2022
US primary insurer Travelers has acquired assets of Trōv Technology, a provider a software designed to help brands deploy modern P&C insurance solutions in home, renters, auto, pet, small business and mobility. With this transaction, most members of Trōv's team have also joined Travelers, and will be positioned within Travelers' Personal ... Read the full article
Arbol transacts $70mn in GWP in 2021
22nd February 2022
InsurTech platform and FinTech company Arbol has reportedly transacted $70 million in gross written premiums in 2021, marking significant growth and traction for the Arbol platform, which in 2020 transacted $15 million in notional risk and $2.2 million in gross premium. Highlighting Arbol’s focus on a sustainable business model, the company’s ... Read the full article
Sompo Japan and GeoX partner on AI underwriting platform
17th February 2022
GeoX, a provider of geospatial data to insurers, has announced a new partnership to support Sompo Japan as it develops an automated underwriting methodology utilizing AI technology. By combining GeoX's technology with Sompo's expertise and established global distribution networks, the partnership hopes to fuel digital transformation within the insurance industry while ... Read the full article
Discovery & AIA plan insurtech joint venture in Asia
16th February 2022
South African-founded financial services organisation Discovery Limited has announced plans to establish a pan-Asian health insurtech business with life insurer AIA Group, called Amplify Health. Expected to launch in April 2022, Amplify Health will operate as a join venture in the Asian market, excluding China, Hong Kong and Macau, where Discovery ... Read the full article
The claims revolution is underway, but still a long way to go: Genpact’s Saye
11th February 2022
To improve claims processes across the insurance and reinsurance industry and deliver higher customer satisfaction, technology must be embraced, and modern software tools integrated into company processes, Jeff Saye, Global Practice Leader for Insurance Claims, Genpact told us in an interview. Discussing the need for a digital-first, future-focused approach to claims, ... Read the full article