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.
B3i fails to raise new capital, enters insolvency
28th July 2022
The Blockchain Insurance Industry Initiative (B3i) has announced that it has filed for insolvency after failing to raise new capital in recent funding rounds. Formed in late 2016, B3i represented a collaboration between various insurers and reinsurers to explore the potential of using Distributed Ledger Technologies (DLT) within the industry. The Initiative ... Read the full article
Swiss Re GBS India and T-Hub partner to boost insurtech innovations
28th July 2022
Swiss Re Global Business Solutions (GBS) India, an analytics and innovation hub of Swiss Re, and T-Hub an innovation hub and ecosystem enabler, have announced a partnership aimed to improve innovation in the insurtech sector. Based in Hyderabad, T-Hub is the world’s largest innovation campus, according to the business incubator; it ... Read the full article
Corvus opens new office in Germany
28th July 2022
Corvus Insurance, a provider of smart commercial insurance products, has opened a new continental European office in Frankfurt, Germany. The new office will look to underwrite cyber insurance business for both small- and medium-sized businesses (SMBs) and larger corporations. According to Corvus, the office location will help the company create a presence ... Read the full article
Seguros Bolivar partners with digital health platform dacadoo
27th July 2022
Colombian insurer Seguros Bolivar has partnered with Swiss insurtech dacadoo to launch Bolivar Conmigo, a free-of-charge wellbeing app that will be available to Colombian residents during the month of July. According to the announcement, Bolivar Conmigo will be a new generation "Super App" designed to give users complete access to all ... Read the full article
Adit Ventures agrees to seed Aanika Re
27th July 2022
Adit Ventures has agreed to seed Aanika Re, a Bermuda-based insurance vehicle wholly owned by Aanika Biosciences. Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. The company was founded in 2018 by Vishal Bhuyan and Dr. Ellen Jorgensen. Its mandate is to leverage the ... Read the full article
Cover Genius acquires Booking Protect
26th July 2022
Cover Genius, the insurtech for embedded insurance, has acquired Booking Protect, a company specialising in embedded ticket protection for ticket sellers, platforms and live event companies in the UK and Australia. Booking Protect enables the world’s largest digital companies to embed offers for any line of insurance or warranty ... Read the full article
Insurtech Gateway completes first close on Seed Fund II
22nd July 2022
Insurtech Gateway, an independent insurtech incubator authorised by the FCA, has announced the first close of Seed Fund II. According to the announcement, this funding will allow the Gateway to support another 20 teams over the next 4 years from pre-seed to Series A. Insurtech Gateway was founded in 2016 with a ... Read the full article
Aspen backs excess insurance policy by Counterpart
21st July 2022
Management liability insurtech Counterpart has announced the launch of an excess insurance product for small businesses, backed by Aspen. According to Counterpart, the excess policy aims to support small businesses in a time of heightened litigation. Counterpart utilises proprietary data and technology to respond to the increasing settlement and legal expenses, which ... Read the full article
Koffie Insurance raises $11 million to drive expansion and growth
21st July 2022
Koffie Insurance, an insurtech that focuses on providing financial services to the trucking and transportation sector, has announced the closing of an $11 million Series A, which now brings the company’s total funding to date to $15.5 million. The round was led by Anthemis Group which specializes in funding best-in-class, high-growth, ... Read the full article
SCOR to use Concirrus’ Marine Hull Market Model
20th July 2022
Global insurer and reinsurer SCOR has adopted the Marine Hull Market Model from insurtech Concirrus to improve loss ratios within its marine line of business. Concirrus’ Model - delivered via its data and analytics platform, Quest - leverages the insight of multiple data sources for a market-wide perspective on valuing an ... Read the full article
Swiss Re & Cover Whale teaming up to improve auto accident risk assessment
20th July 2022
Swiss Re and leading insurtech for commercial auto insurance, Cover Whale Insurance Solutions Inc., are teaming up to improve auto accident risk assessment. Cover Whale will use Swiss Re’s Motor Market Analyzer to further enhance its product offerings to customers. Swiss Re’s Motor Market Analyzer is a proprietary predictive model, which provides ... Read the full article
FutureProof hires Joe Strickland as Head of Underwriting
19th July 2022
FutureProof, a climate-smart property & casualty (P&C) insurtech, has appointed Joseph Strickland as Head of Underwriting. He joins from AIG’s Lexington Specialty Insurance Agency where he served as Senior Vice President for Wholesale Property. Within that role he led regional property teams across the US. “Joe’s unique combination of Florida knowledge, deep ... Read the full article
Generali GC&C partners with Previsico on flood resilience
19th July 2022
Generali Global Corporate & Commercial (GC&C) has partnered with Previsico, a live flood alert insurtech company to “significantly” enhance UK clients’ flood emergency response readiness. Generali GC&C aims to broaden its own insurance coverage capabilities using Previsico’s technical expertise and warning solutions which provide live, actionable surface water flood warnings not ... Read the full article
Hourly.io appoints Markel’s Jerico Vinsonhaler as Head of Underwriting
19th July 2022
Fast-growing insurtech start-up, Hourly.io has appoint former Markel executive Jerico Vinsonhaler to serve as Head of Underwriting. Within this role, Vinsonhaler will oversee Hourly's overall underwriting strategy, portfolio management, as well as manage its underwriting team. Vinsonhaler spent 20 years at Markel, where she led the firms underwriting strategy. Prior to Markel, she ... Read the full article
On matching risk with capital in insurance
18th July 2022
The insurance industry has acquired a reputation for sluggishness. In my experience, however, the appetite to embrace change among insurers and reinsurers is strong. Especially when there is the very real prospect of improving the offering to customers, the products, the way businesses operate, and the efficiency of capital. Despite a number ... Read the full article
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