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.
It’s now “imperative” that re/insurers deploy smart tech: Davies, Xceedance
14th September 2022
Current geopolitical instability, staffing woes, and inflationary pressures are forcing the insurance industry to dramatically improve its operational efficiency through smart technology, says Justin Davies, Head of EMEA at re/insurance service provider, Xceedance. The insurance and reinsurance industries, like other businesses and consumers all over the world, are struggling with a ... Read the full article
Accelerant hires Pete Horst as Chief Technology Officer
14th September 2022
Insurtech platform Accelerant has appointed Pete Horst as its new Chief Technology Officer (CTO). Within this role, he will lead functions spanning Accelerant’s proprietary data and technology platform that helps Members better understand risk, benefit from insights, and handle operational and regulatory complexity. Most recently, Horst served as Vice President of Engineering ... Read the full article
If you are just deploying technology to a broken process, it’s still a broken process: Xceedance
12th September 2022
As carriers and brokers embark on technology transformations, one of the key considerations is to review the existing process, and look at how it can be optimised and how you can apply technology to make that process even better, says Justin Davies, Head of EMEA at re/insurance service provider, Xceedance. Davies ... Read the full article
Korean digital insurer Carrot raises $250m in funding
9th September 2022
South Korean digital insurance carrier Carrot General Insurance has secured a fresh funding of 300 billion Korean won (US $25 million). Led by private equity firm Affirma Capital, the capital will be raised across two connected rounds with wide participation of existing investors. Carrot has successfully closed the initial funding of 175 ... Read the full article
Insurtech Waterdrop adds Swiss Re Asia exec to board
8th September 2022
Waterdrop, the Swiss Re-backed technology platform for insurance and healthcare services, has announced the appointment of Wenjie Guan to its board of directors. Guan currently serves as Head of Principal Investments and Acquisitions North Asia at Swiss Re, and will take up her board position from September 7th. Prior to joining Swiss ... Read the full article
Lockton Re SAGE 2.0 launches with new analytics features
7th September 2022
Global insurance broker Lockton's dedicated reinsurance division, Lockton Re, has launched Lockton Re SAGE 2.0, its next level of analytics features and tools as part of Lockton Re’s proprietary software platform, the company highlighted. Lockton Re SAGE was designed to better help insurers understand risk impacts with a detailed and transparent ... Read the full article
AccuRisk Holdings invests in insurtech MyHealthMath
5th September 2022
AccuRisk Holdings, a leader in health solutions innovation has announced an investment in insurtech firm, MyHealthMath. MyHealthMath combines the power of big data and mathematical modeling with personalised live engagement to give employees, employers, carriers and consultants unparalleled healthcare benefits decision support. The company is based in Poland, Maine, and has direct ... Read the full article
Critical role for re/insurers in net zero transition & enabling climate tech: PwC
3rd September 2022
With the back-in-person Monte Carlo Rendez-vous reinsurance industry event happening in just a week's time, PwC is highlighting the important role of re/insurers and underwriters in supporting the transition to net zero, as well as in enabling climate tech innovation. PwC is hosting a special session (details below) at the ... Read the full article
Fairmatic raises $42m in funding round, Aquiline among leaders
2nd September 2022
Following its latest Series A funding round, insurtech company Fairmatic has raised a total of $42M from Aquiline Technology Growth, Foundation Capital, and other insurtech, fintech and technology angel investors. The funding comes at a time of development for Fairmatic, having emerged from stealth with a C-suite of insurance and technology ... Read the full article
Gallagher & Novidea to launch digital platform for specialty clients
1st September 2022
Broker Gallagher has partnered with global insurtech Novidea, to implement and tailor its insurance broking platform for its specialty client base. The platform will be extremely pioneering within the market, as it will revolutionise client service, and also cover every stage of the broking lifecycle, from enquiry and quotation to policy ... Read the full article
MIS announces partnership with Markel International
1st September 2022
InsurTech McKenzie Intelligence Services (MIS) and Markel International, a subsidiary of Markel Corporation, have announced a partnership aimed to accelerate Markel’s incident and claims responses following major loss events, including natural catastrophes. Since 2017, Markel has been using MIS’s AI-powered Global Events Observer (GEO) platform for its Lloyd’s syndicate business. This was ... Read the full article
Kojo founder highlights changing relationship between insurers and insurtechs
25th August 2022
The founder of Kojo, Lara Varjabedian has released a report highlighting the changing relationship between insurers and insurtechs, noting the key friction points and the growing demand for partnerships rather than competition. The gap of understanding between insurers and insurtechs is shrinking, says Varjabedian, as insurers are gaining insurtech experience, and ... Read the full article
Insurtech Accelerant launches $175mn reinsurance sidecar vehicle
24th August 2022
Insurtech platform Accelerant has launched a new $175 million sidecar investment vehicle, called Flywheel Re. The new sidecar will provide multi-year risk capital to Accelerant and its cohort of underwriting-led specialist members. Goldman Sachs & Co. LLC served as exclusive placement agent to Accelerant and Sidley Austin LLP acted as legal counsel. Founded ... Read the full article
Are fully automated, computer-based insurance contracts in the works?
24th August 2022
A new note from the CIO of Atrium says that the London Market Group’s Data Council is aiming to create a fully automated, computer-based digital contract for insurance business. Writing on the Atrium website, Justin Emrich says that the ultimate future vision is a fully computable contract. He wrote: “Computable contracting is ... Read the full article
Cover Genius makes “strategic” hires for business services and property partnerships
23rd August 2022
Cover Genius, an insurtech for embedded insurance, has announced three key additions to its leadership team as demand for embedded protection continues to increase. Barney Pierce has been appointed Senior Vice President of Partnerships in APAC. He joins the company after a successful career in senior leadership positions at Google, responsible ... Read the full article
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