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.
Expenses around implementing tech top concerns for insurers
15th July 2022
A new report from PwC has found that the most-important driver for insurers embracing new technology has been to lower expense ratios. The survey, Underwriting Transformation Survey: Invest in Change – Drivers, Opportunities, and Risk in the London Market, found that only 3% of respondents saying that this reason was of ... Read the full article
SAP Fioneer announces new vertical product strategy
15th July 2022
SAP Fioneer, a global provider of financial services software solutions and platforms, has announced the launch of a new vertical product strategy to cater for banking and insurance customer needs. According to SAP Fioneer, the adoption of a vertical approach significantly reshapes its offering to customers. By using three platforms to provide ... Read the full article
Integration of loss history, Archipelago’s latest product update
15th July 2022
AI-driven technology platform Archipelago has announced the integration of loss history in its second major product update of 2022. The platform can now integrate customers' location-level loss histories with the Smarter SOV to provide a more comprehensive view of their insured property. According to the company, over $7 trillion of total insured ... Read the full article
Aurenity partners with Origami Risk for underwriting tech platform
14th July 2022
Recently launched tech-enabled E&S MGA, Aurenity has selected Origami Risk as its technology partner to develop its core underwriting platform. Founded by leading underwriting executives and technology experts, Aurenity is building a cutting-edge underwriting ecosystem to deliver sophisticated pricing, speed-to-market adjustments, and best-in-class service. In addition, the tech-enabled MGA’s platform technologies will ... Read the full article
Noldor raises $10 million in first funding round
14th July 2022
Noldor, an insurtech, recently closed on a $10 million seed funding round from a group of well-established insurance investors. The funding round was led by the DESCOvery group at DE Shaw, a global investment and technology development firm based in New York City with participation from several other strategic investors. CEO John ... Read the full article
Trust and credibility critical for insurance innovation – Rising Professionals Global Forum
13th July 2022
Trust is critical to avoid “organ rejection” of disruptive technology. This was the view of a panel of leaders in the field of insurance innovation at the Marsh McLennan Rising Professionals’ Global Forum. In his opening remarks, Rafal Modrzewski, CEO, Co-Founder, ICEYE, said innovative technologies can play a key role ... Read the full article
wefox closes $400m Series D round, taking valuation to $4.5bn
12th July 2022
wefox, the Berlin-based digital insurer, has seen its post-money valuation increase to $4.5 billion after the company successfully closed a $400 million Series D funding round, led by sovereign investor Mubadala Investment Company. Comprised of both debt and equity, the raise also featured participation from Eurazeo, LGT, Horizons Ventures, OMERS Ventures ... Read the full article
Munich Re syndicate backs new spot-cargo insurtech
11th July 2022
Munich Re Syndicate, the Lloyd's of London Marine & Specialty underwriter of reinsurance giant Munich Re, is set to back MiKargo247.com, a new insurtech, created specifically for one-way, spot-cargo freight. MiKargo247.com will aim to provide freight brokers, 3PLs and motor carriers with access to insurance that protects cargo and helps it ... Read the full article
BlackFin raises €350 million for investments in EU insurtechs
11th July 2022
BlackFin Capital Partners has announced a second closing of its Tech 2 fund dedicated to European fintechs and insurtechs to the tune of €350 million. The fund, which is now already double the size of its predecessor, will be invested in Europe’s most promising fintechs and B2B insurtechs. At a time when ... Read the full article
YuLife raises $120m in Series C funding led by Dai-ichi Life
7th July 2022
YuLife has raised $120m in a Series C round of funding that the firm says it will use to accelerate its global expansion. The firm said in a statement that this round of investment had been led by Dai-ichi Life. The funding round, which was supported by YuLife’s existing investors, takes the ... Read the full article
Ledgebrook names Steve Mills as new President, E&S
30th June 2022
Ledgebrook, a tech-enabled E&S MGA, has appointed E&S veteran Steve Mills as the company’s President, E&S. He will be responsible for delivering wholesale brokers a best-in-class experience across Ledgebrook's E&S product lines. Prior to joining Ledgebrook, Mills served as President, E&S at The Hanover Insurance Group. Mills brings with him 30+ years of ... Read the full article
ICEYE launches geospatial flood analysis platform
30th June 2022
ICEYE, a provider of SAR data and natural catastrophe analysis solutions, has announced the launch of ICEYE Insights, a geospatial platform that allows insurers to combine ICEYE’s flood observation data with their property insurance information. Utilising the EigenPrism catastrophe risk management tool, the ICEYE Insights platform is automatically updated with data ... Read the full article
New tech helping to “predict” adverse events in real-time: AXA
29th June 2022
A move towards prevention through predictive technologies will become commonplace in certain insurance sectors, according to the chief strategy and business development officer at the global insurer, AXA. The two main trends that are making insurers shift to prevention, noted Georges Desvaux, are the growing complexity of risks society faces, and ... Read the full article
Booming tech M&A deals present unique insurance risks, says CFC
29th June 2022
Specialist insurance provider CFC has encouraged brokers to play a greater role in helping their tech clients mitigate the unique risks they face when considering any merger or acquisition deal. The cites the top three risks within tech M&A deals as intellectual property, data protection and cyber security. “The tech sector saw ... Read the full article
Policy Expert up for potential £1bn sale
28th June 2022
Sources have reported that options are being explored for a potential £1 billion sale of UK digital home and car insurer Policy Expert. Bloomberg writes that investment firm Primary Group and advisors Perella Weinberg Partners are working with Policy Expert’s parent company, QMetric Group, to look at possible buyers. It’s been reported ... Read the full article
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