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.
Insurtech investments up to $2.4 billion in Q2 2022, says Gallagher Re
4th August 2022
Investment in the insurtech space in the second-quarter of 2022 increased by 8.3% from the opening quarter of the year to $2.41 billion, as a rise in the average deal size masked a decline in the overall number of deals, according to reinsurance broker Gallagher Re's latest Global Insurtech Report. Despite ... Read the full article
Genasys names Ian Pettifor Group CFO
3rd August 2022
Insurance software solutions provider Genasys has appointed Ian Pettifor as the company’s new Group Chief Financial Officer. According to Genasys, Pettifor appointment is the latest in a line of C-suite hires by the company as it targets international expansion. It follows the appointment of ex-Duck Creek director Bart Patrick as Chief Revenue ... Read the full article
Insurtech Mulberri raises $4mn Series Seed
29th July 2022
Mulberri, a pioneering insurtech and business insurance platform for modern PEOs and brokers, has announced that it has raised a $4 million Series Seed led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio). In a press release, it notes ... Read the full article
The Hanover launches Hanover i-on Sensor Program
29th July 2022
Property and casualty insurance company, The Hanover Insurance Group, has announced the launch of its Hanover i-on Sensor Program, aimed to help reduce business losses. According to the announcement, it will offer a robust set of technology-based services to help business and organisation owners prevent workplace injuries, property damage, theft, and ... Read the full article
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
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