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.
Kovrr collaborates with Microsoft on internal cyber security data
8th June 2022
Cyber risk modeller Kovrr has announced its selection by Microsoft for Startups – a global program dedicated to accelerating the trajectory of high-potential start-ups to enable growth at scale. By being a program member, this will give Kovrr exclusive access to Microsoft’s technology, as well as its mentorship and business support. In ... Read the full article
CoreLogic announces collaboration with Hiscox London Market
8th June 2022
Leading global property data and analytics-driven solutions provider, CoreLogic, has announced that Hiscox London Market has adopted its PxPoint technology to better understand property risk and enhance underwriting accuracy. Delivered through the RiskMeter platform, the solution uses advanced geocoding technology to provide detailed information from precise location to structure, to assess ... Read the full article
WTW’s Radar upgrade mitigates “black-box” risks with increased transparency
20th May 2022
Re/insurance broker WTW has announced the launch of the newest version of its leading-edge Radar pricing software, Radar 4.15. The latest version overcomes a major barrier to wider adoption of machine learning by introducing a market-first capability, making it significantly easier for insurers to benefit from the full predictive power of ... Read the full article
Ed Gaze steps down from Lloyd’s Lab
19th May 2022
Ed Gaze has announced he is stepping down from his role as head of Lloyd’s Lab, the insurtech innovation incubator embedded within the London-based insurance and reinsurance marketplace. In a LinkedIn post, Gaze said that he was moving but gave no further details as to his next destination. However, he said that ... Read the full article
Aspen brings its clout to Counterpart
13th May 2022
Insurtech firm Counterpart has gone into partnership with Aspen Insurance and Markel to give small businesses access to the former’s management liability products. In a statement, Counterpart said that Aspen was joining as a member company of Markel. Tanner Hackett, CEO of Counterpart, said: “From vaccine mandates to hybrid workplaces to supply ... Read the full article
Qoala becomes SEA’s fastest growing insurtech through $65m Series B funding
13th May 2022
Indonesian insurtech start-up Qoala, has announced that it has successfully raised Series B funding of US$65 million, a thirty times growth since the company’s Series A round in April 2020. The Series B funding was led by by Eurazeo with participation from other existing investors including Flourish Ventures, KB Investment, MassMutual ... Read the full article
Howden launches new digital trading platform called xTrade Cargo
11th May 2022
Howden has launched xTrade Cargo, an end-to-end digital trading platform. This new initiative launched as a proof of concept in 2019 for Cargo SME business and today provides 20 leading cargo carriers with access to the largest and most complex cargo risks in the sector. It enables insurer participants to collect ... Read the full article
Climate insurtech FutureProof gains MGA funding, led by AXIS
9th May 2022
FutureProof Technologies, a climate-focused P&C insurtech, has raised $6.5 million in capital, which it has employed to establish a managing general agency (MGA) entity. The capital raise, which was led by AXIS Digital Ventures with participation from prior investors Innovation Endeavors and MS&AD Ventures, brings FutureProof’s total funding to nearly $10 ... Read the full article
WTW releases upgraded version of ResQ reserving software
9th May 2022
Insurance and reinsurance broker, WTW, has announced the launch of the newest version of its industry-leading loss reserving and financial reporting software, ResQ. ResQ 5.3 introduces a number of new features including ResQ Agent Processing, a new capability that represents a major evolution of the ResQ Enterprise Processing Engine. ResQ Agent Processing ... Read the full article
Aon and Paypal partner on digital insurance program
5th May 2022
Aon and PayPal Holdings have partnered on a digital initiative to help PayPal's small business customers in the US obtain insurance in the same ecosystem used to manage their payments. The digital insurance program will enable PayPal's small business customers in the US to shop for, purchase and manage insurance coverage ... Read the full article
Insurtech investment broke records in 2021 – Gallagher Re
4th May 2022
Global investment in insurtech breached $15.8bn in 2021, according to Gallagher Re’s Global Insurtech Report. The figure, said Gallagher Re, was the highest on record and more than 2019 and 2020 combined. The firm said that over the course of 2021, some $9.4bn was invested into Property & Casualty InsurTechs, with the ... Read the full article
CyberCube partners with actuarial capital modeller
26th April 2022
Cyber risk analytics firm CyberCube has announced a new partnership with Ultimate Risk Solutions (URS), a provider of actuarial capital modelling to the insurance and reinsurance sectors. The partnership will see URS integrate CyberCube’s Portfolio Manager model outputs with its Risk Explorer financial analysis software for insurers and reinsurers. Risk Explorer models ... Read the full article
Transverse launches insurtech venture fund
26th April 2022
Transverse Insurance Group, the P&C program carrier launched in 2018, has announced the final closing of its new venture capital fund. Transverse Ventures Fund I is supported by the capabilities of multiple partners including insurance carriers and executives. The fund is mainly focused on making early-stage investments in insurance and adjacent technologies ... Read the full article
There’s no such thing as taking bad risk: Graham Gordon, Sapiens
22nd April 2022
"There’s no such thing as taking a bad risk. Just bad choices of how to approach the risk and the bad result of that risk," according to Sapiens Director of Product and Strategy, P&C, Graham Gordon. In an interview with Reinsurance News, Gordon discussed some of the ways in which data ... Read the full article
ICEYE adds flood insights to EigenRisk’s cat risk management platform
22nd April 2022
SAR data provider and expert in environmental flood hazard data, ICEYE and EigenRisk, a leading and independent insurance technology platform provider, have announced a new agreement to incorporate ICEYE’s flood insights for large-scale flood events into the EigenPrism catastrophe risk management platform. EigenPrism provides a single, cloud-based platform for catastrophe data, ... Read the full article
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