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.
Tech investments main obstacle to growing P&C sales: AM Best
22nd April 2022
A new survey of property and casualty (P&C) insurers by AM Best has found that more than half of respondents consider digitization and technological investments to be the biggest challenges in modernizing distribution and growing sales. The rating agency found that 56% of respondents that viewed digitalization and technological investment as ... Read the full article
MSIG deploys eClaims system by Fermion Merimen
22nd April 2022
MSIG has deployed Fermion Merimen’s eClaims platform as part of an effort to digitalise and to streamline its claims processes across ten insurance classes. The system is designed to enhance productivity, compliance control and customer satisfaction during the claims process. MSIG says the platform will enable it to modernise its claims processing ... Read the full article
Aon sets up IP-based funding for self-ordering tech firm
21st April 2022
Aon has set up a $35 million intellectual property (IP) based funding arrangement for GRUBBRR, a provider of self-ordering technologies, creating an IP-collateralized debt structure that enabled the firm to raise additional funds through debt. Headquartered in Boca Raton, Florida, GRUBBRR’s technologies include kiosks, mobile ordering, POS, online ordering, KDS and ... Read the full article
Greenlight Re’s Syndicate 3456 at Lloyd’s commences underwriting
20th April 2022
The previously announced Greenlight Innovation Syndicate 3456 at Lloyd's, Greenlight Re's new insurtech-focused syndicate, received approval to commence underwriting from April 1st, 2022. The new syndicate was launched under the syndicate in a box model at the specialist Lloyd's insurance and reinsurance marketplace. It's been launched by its parent to provide ... Read the full article
Marsh develops new analytics solution for property risks
8th April 2022
Insurance broker and risk advisor Marsh has announced the launch of a new property analytics solution that aims to digitalise the manual processes involved in managing property risks. The new solution, part of Marsh’s Blue digital analytics suite, digitizes clients’ primary risk data, including construction, occupancy, protection, and exposure data. It then ... Read the full article
Ascot backs Coalition’s US cyber program
6th April 2022
Commercial lines insurtech Coalition, has announced the addition of global specialty re/insurer Ascot Group to back its US primary surplus lines cyber program through Ascot Speciality Insurance Company. This new multi-year partnership will help to provide Coalition with long-term capacity for its cyber programs, further accelerating the company’s growth. In 2021, Coalition’s ... Read the full article
Cenata and IQUW partner on reinsurance management solution
5th April 2022
Insurtech software provider Cenata has partnered with Property, Commercial and Specialty re/insurer, IQUW, enabling the Lloyd’s syndicate to use Cenata’s outwards reinsurance management solution, Cenata SURE, a full cycle outwards reinsurance management solution. The partnership will provide IQUW with the capability to process real-time premium and claims data from multiple inwards ... Read the full article
Report says US insurers turned increasingly to tech during pandemic
31st March 2022
A new report from Information Services Group states that many US insurers turned to technology to meet changing operational and market demands through the Covid-19 pandemic. According to the firm, its 2021 ISG Provider Lens Insurance Platform Solutions Report for the US finds the pandemic served as a catalyst for digital ... Read the full article
Insurtechs Ascend & Stere strike infrastructure partnership
30th March 2022
Insurtech infrastructure companies, Ascend and Stere, have announced a new anchor partnership that will see them team up to provide digital services for existing brokers, MGAs, and carriers. Ascend is an insurance payments platform that provides automated all-in-one financing, collections, and payables that aims to help distributors eliminate labor-intensive processes. Stere, meanwhile, ... Read the full article
Greenlight Re Innovations invests in tax audit insurtech
25th March 2022
Greenlight Re Innovations (GRI), part of Greenlight Capital Re, has announced an investment in AuditCover Australia Pty Limited, a tax audit insurtech. AuditCover is structured as a tech-centric, end-to-end digital audit insurance platform that connects directly to accountants' core systems. Its aim is to streamline the quote and bind process and provide ... Read the full article
WTW adds open source capabilities to Radar software
25th March 2022
Re/insurance broker WTW has today announced the launch of the newest version of its Radar software, which features a fully integrated Python capability. By integrating Python into Radar, insurers using the software will be able to combine its pricing capabilities with other open source software. WTW says the new version of Radar ... Read the full article
Hannover Re opens up insurtech innovation platform hr | equarium
24th March 2022
Following the launch of hr | equarium in 2019, Hannover Re is opening up its innovation platform to all interested parties with immediate effect, in a move it says will enable more insurers to access services and solutions from insurtechs. hr | equarium is Hannover Re’s publicly accessible insurtech innovation ... Read the full article
Buckle upsizes term loan to grow insurance platform
24th March 2022
Buckle, a digital financial services company for the gig economy, has completed a $15 million upsizing of its term loan with participation from Siguler Guff & Company, along with existing lender Hudson Structured Capital Management (conducting its re/insurance business as HSCM Bermuda). This increases the total to $35 million, with the ... Read the full article
ACORD launches reinsurance treaty data exchange service
24th March 2022
International standard-setting body for the insurance sector ACORD has announced that its subsidiary, ACORD Solutions Group has launched a new data exchange capability for reinsurance treaty contract placement through its trading platform – Acord Data Exchange Platform & Translator (ADEPT), which links trading partners to structure, validate and reconcile their ... Read the full article
Blink Parametric partners with MNK Re
22nd March 2022
Blink Parametric, a CPP Group Insurtech has partnered with MNK Re, a specialist Lloyd's of London insurance and reinsurance broker, which will see the early rollout of Blink’s flagship parametric flight disruption solution. The solution will provide further pipeline parametric insurance opportunities for its diverse weather, climate, energy and bancassurance offerings ... Read the full article
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