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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.

Arch, Marsh collaborate on insurance solution for digital assets

18th September 2019

Arch Insurance UK, a division of Arch Insurance International, has partnered with global re/insurance brokerage Marsh on a new solution designed to protect digital asset private keys held in traditional vault facilities. A private key, in this context, is essentially a string of numbers and letters that leads to a digital ... Read the full article

Marsh’s Torrent Technologies develops new flood offering

18th September 2019

Torrent Technologies, a Marsh company, has announced the launch of FloodPlus Commercial, a new private market primary flood insurance offering for agents of its Write Your Own (WYO) carrier clients. FloodPlus commercial provides up to $2.5 million in flood coverage for small commercial property owners’ building, building personal property (BPP), and ... Read the full article

INSHUR adds Uber’s Simon Logan to senior team

18th September 2019

INSHUR, the Munich Re-backed provider of commercial auto insurance, has announced the appointment of Simon Logan as Vice President of Commercial & Legal. Logan previously served as former Legal Director of Insurance, EMEA at Uber, which INSHUR partnered with back in May 2019. INSHUR said that the appointment would help to ... Read the full article

Insurdata recruits Head of Client Success from Allianz

17th September 2019

Insurdata, an insurtech firm specialising in peril-specific exposure and risk data, has announced the appointment of Rosina Smith to the newly created role of Head of Client Success. Smith joins Insurdata from Allianz, where she most recently served as Acting Head of Commercial Lines Pricing in the UK. She spent seven years ... Read the full article

AXA XL develops digital hot wallet insurance

17th September 2019

AXA XL, the property and casualty and Specialty Risk division of AXA, has designed a bespoke contractual liability insurance coverage tailored for a digital "hot" wallet product offered by Hoyos Integrity Corporation, a company specialising in biometrically secured products and applications. A hot wallet refers to a cryptocurrency wallet that is ... Read the full article

P&C focused InsurTech service provider, Combined Ratio Solutions launches

16th September 2019

A new InsurTech service provider focused on the property and casualty (P&C) industry has been launched by industry veterans Luke Magnan and Michael Jones, called Combined Ratio Solutions. Based in Hartford, Connecticut, Combined Ratio, an InsurTech service provider, is focused on delivering technology solutions that create overall value for insurers and ... Read the full article

Mario Vitale appointed President of cyber analytics InsurTech, Arceo.ai

16th September 2019

Provider of risk analytics for the cyber insurance and reinsurance market, Arceo.ai, has named Mario Vitale as its President, effective September 3rd, 2019. As President of Arceo, which is a newly created position, Vitale will bring his extensive insurance industry experience to lead the firm in blending cyber security expertise, credible ... Read the full article

Insurtech data provider NeuralMetrics announces launch

16th September 2019

NeuralMetrics, an insurtech data provider that uses natural language processing (NLP) technologies to power a real-time data engine for commercial lines general and P&C re/insurers, has announced its official launch. The company is headquartered in New York City, with additional offices in the UK, Europe, the UAE, and India, and was ... Read the full article

Auto insurtech Root raises $350m, hits $3.6bn valuation

13th September 2019

Auto insurtech Root Insurance has raised $350 million in a Series E funding round led by DST Global and Coatue, raising the firm’s total value to $3.65 billion. The funding brings the total amount secured to $523 million, with an additional $100 million in debt financing, and will be leveraged to ... Read the full article

AXA XL, insurtech Neptune Flood strike underwriting partnership

12th September 2019

Global re/insurer AXA XL has partnered with Neptune Flood, an all-digital flood platform that leverages data analytics to provide agents and direct buyers the ability to rapidly quote and bind a policy. It’s hoped the underwriting partnership will expand Neptune’s flood insurance capacity to homeowners throughout the US. Chris Bressette, Senior Vice ... Read the full article

Digital success requires both tech partnerships & internal agendas: GC’s Steven Jones

11th September 2019

Success in the increasingly digitalised re/insurance industry will require companies to focus equally on collaboration with insurtech firms and on improving internal transformation agendas, according to Steven Jones, Global InsurTech Client Services Lead at Guy Carpenter. Jones argued that technology in the re/insurance industry is advancing at an ever-increasing pace, with ... Read the full article

Beazley to leverage Guidewire’s Cyence analytics solution

11th September 2019

Specialist insurer Beazley has selected Guidewire Software’s Cyence product to help improve underwriting, capital and pricing efficiencies. Cyence offers a data listening and risk analytics solution that combines curation of external data with machine learning and risk modelling. Beazley will implement Cyence data models to augment its existing data modelling applications for ... Read the full article

Munich Re announces new risk analysis services for wildfire & hurricane

8th September 2019

Munich Re has announced two new risk analysis and claims settlement services for wildfire and hurricanes, which aim to accelerate indemnification for policyholders. The reinsurer’s Wildfire Risk Score will support clients in evaluating wildfire risks in North America and in estimating damages following an event. The solution combines loss data from past ... Read the full article

Aon to introduce auction capability for 1/1 renewals

8th September 2019

Global re/insurance brokerage Aon is set to implement an auction capability for the January 1 renewals, as the company looks to leverage new technology in order to speed up the process of pricing negotiations and contract certainty. Aon says the technology, offered as part of its suite of services, enables pricing ... Read the full article

Prudential set to acquire insurtech Assurance IQ

8th September 2019

US insurance and investment firm Prudential Financial has agreed to acquire Assurance IQ, an insurtech firm that matches buyers with customised insurance solutions. The transaction includes a total upfront consideration of $2.35 billion, plus an additional earnout of up to $1.15 billion in cash and equity, contingent upon Assurance achieving certain ... Read the full article

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