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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.

Willis Re & Concirrus partner on specialty re/insurance using IoT

22nd May 2019

The global reinsurance arm of broker Willis Towers Watson, Willis Re, has entered into a strategic partnership with InsurTech firm Concirrus to transform specialty re/insurance products by leveraging data from the Internet of Things (IoT). Under the partnership, Willis Re will join London-based Concirrus' Power20, a community of visionaries who are ... Read the full article

Greenlight Re Innovations backs online dispute resolution start-up

21st May 2019

Greenlight Re Innovations, part of the specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has announced a strategic investment in FairClaims, an online insurance and consumer dispute resolution start-up. Based in Los Angeles, FairClaims has developed an online system that helps claimants to drive settlement via negotiation and mediation. It ... Read the full article

Tremor places programmatic swap deal for parametric cat risk

21st May 2019

Tremor Technologies, the programmatic risk transfer platform, has priced and placed the first ever programmatic parametric swap transaction in insurance form. The insurtech start-up has already priced and placed a number of catastrophe reinsurance programs beginning at the end of 2018, but has moved into new territory with this latest deal. Tremor ... Read the full article

Tremor adds team of market design experts

14th May 2019

As Tremor Technologies continues to advance its programmatic risk marketplace, the firm has hired a team of market designers that have previously advised governments, industry groups and leading companies. InsurTech startup Tremor operates an open, technology-driven, programmatic market for the placement of reinsurance risk, and has completed a number of auctions ... Read the full article

WTW enhances security, AI capabilities of Radar pricing tool

14th May 2019

Global insurance and reinsurance broker Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. Radar 4.4 implements new fine-grained security controls that simplify the application of the pricing software, ... Read the full article

InsurTech investments break records in Q1 2019: Willis Towers Watson

9th May 2019

For the third consecutive quarter, InsurTech funding surpassed the $1 billion mark in the opening three months of 2019, with 85 deals recorded with a total value of $1.42 billion, according to the latest quarterly InsurTech Briefing from insurance and reinsurance broker, Willis Towers Watson (WTW). When compared with the fourth-quarter ... Read the full article

Xceedance launches new software, services offering MGA Agility Suite

7th May 2019

Re/insurance service provider Xceedance has announced the launch of its new software and services offering, MGA Agility Suite. Xceedance’s MGA Agilty Suite combines policy-administration capabilities, an underwriting platform, plus distribution & communication tools and is designed to enable both established and startup program administrators, MGAs and MGUs worldwide to deploy a ... Read the full article

Leap Life announces digital insurance platform, backed by RGAX

2nd May 2019

Leap Life, an insurtech company backed by RGAX, the transformation unit of Reinsurance Group of America (RGA), has announced the launch of its personalised digital life insurance platform. The platform aims to predict an applicant’s chances of getting approved, using a matching algorithm that optimises need, health and financial fit to ... Read the full article

Munich Re to deploy high-res imagery, AI for faster hurricane claim payments

30th April 2019

New methods currently being explored by global reinsurance giant Munich Re could see hurricane victims receive claim payments on their damaged properties in the time it takes them to return to their homes, according to reports from German newspaper Handelsblatt. Artificial Intelligence (AI) will play a key role in enabling this rapid ... Read the full article

Tesla insurance product to be fronted by Markel’s State National

29th April 2019

According to a more than 4,000-page filing with the California Department of Insurance, Tesla's soon to be launched insurance program for its drivers is set to be fronted by Markel Corporation subsidiary State National Insurance Company, Inc. As we explained last week, it's been reported that Tesla, the Elon Musk-led ... Read the full article

Verisk looks to improve life insurance underwriting with Human API partnership

29th April 2019

Data analytics provider Verisk has announced a partnership with health data consolidation platform Human API. The partnership will allow Verisk to leverage electronic health record (EHR) data collected by Human API and in-turn produce risk scoring and benchmarking information for life insurers. Insurers will be able to use Verisk’s analytic tools to inform ... Read the full article

Lloyd’s Lab reveals second cohort of insurtechs

26th April 2019

Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, has revealed the second cohort of insurtechs to be selected for its 10-week program. As with the first cohort, which commenced in October 2018, 10 teams of insurtech start-ups have been chosen to develop technology driven products and processes ... Read the full article

Marsh to rollout proof of insurance blockchain platform

26th April 2019

Global re/insurance broker Marsh is to begin rolling out its proof of insurance blockchain platform to US commercial clients. There are many who feel that blockchain technology will transform the certificate of insurance process, which is currently manual, and allow clients to more easily hire contractors and transfer risk while increasing ... Read the full article

Michael Ferber appointed CEO of insurtech Dovetail Insurance

25th April 2019

Dovetail Insurance, an insurtech company that serves independent agents providing small commercial insurance, has announced the appointment of Michael Ferber as Chief Executive Officer (CEO), effective immediately. He succeeds outgoing CEO Gregory Martin, who will retire from Dovetail at the end of May. Ferber joins Dovetail from ICAT, a digital-based underwriter of ... Read the full article

MarketScout adds insurtech Wingman to MGA accelerator program

24th April 2019

MarketScout, an electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has invested in the Wingman insurtech platform and added the start-up to its MGA accelerator program. Wingman provides retail agents with access to cyber insurance coverage in a 60-second quote to bind electronic format, aiming to deliver policies within ... Read the full article

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