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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.

AXA XL’s NA construction business teams up with Procore

13th August 2020

The North America Construction insurance business of AXA XL has added Procore, a leading provider of project management software, to its integrated digital platform designed to help clients manage risks on their jobsites and across their organisations. The Procore construction platform connects entire project teams and enables key stakeholders such as ... Read the full article

InsurTech eMaxx hires new President & CEO of insurance operations

13th August 2020

Commercial property and casualty (P&C) InsurTech company, eMaxx, has announced that Eileen Currie has been appointed President and Chief Executive Officer (CEO) of the firm’s insurance operating companies. Currie will lead the insurance operations in underwriting, client services, and distribution for its alternative risk captive insurance programs. Brian McCarthy, CEO of eMaxx ... Read the full article

Munich Re Ventures co-leads Series A for insurtech HDVI

12th August 2020

Next-generation commercial auto insurer High Definition Vehicle Insurance (HDVI) has raised $16 million in Series A funding led by Munich Re Ventures and 8VC. Founded in 2018, HDVI is focused on delivering new commercial insurance solutions that help small and mid-size trucking fleets improve their safety, compliance, and operations. The company provides ... Read the full article

Duck Creek Technologies hires chief strategy officer

12th August 2020

P&C insurance software provider Duck Creek Technologies has announced that Eva F. Huston from Neuberger Principal Holdings has been appointed as Chief Strategy Officer. Huston will be responsible for creating and executing on strategic initiatives designed to build value for the company, reporting to CEO Michael Jackowski whilst working closely with ... Read the full article

Lloyd’s selects ten insurtechs for cohort focused on COVID-19 risks

11th August 2020

Specialist insurance and reinsurance market Lloyd’s has announced its new cohort of InsurTech disruptors that will join the Lloyd’s Lab innovation accelerator programme. The ten successful teams were selected after presenting their ideas in a competitive process during a virtual pitch day on 29 July 2020. This is the second completely virtual ... Read the full article

Charles Taylor hires CEO of InsureTech from Microsoft

11th August 2020

Insurance services provider Charles Taylor has announced the appointment of Arjun Ramdas as Chief Executive Officer (CEO) of InsureTech, effective September 2. He joins Charles Taylor from Microsoft where he served as the Practice Leader for Microsoft’s Consulting Services in the UK. Ramdas started in Microsoft as the Services Practice Leader for ... Read the full article

HCI Group secures $8.9mn income for Q2

7th August 2020

Florida-based insurtech HCI Group has announced a net income for the second quarter of $8.9 million, up from the $7.6 million achieved in the prior year quarter. Adjusted net income for the quarter was $6.8 million compared with $6.6 million in the second quarter of 2019. Consolidated gross written premiums of $171.9 million ... Read the full article

Rideshare insurtech Buckle gets $31m fundraising led by HSCM and Eos

6th August 2020

Buckle, an insurtech company for the ride-share industry, said it has raised $31 million in a Series A funding round. The insurer said the funding round was co-led by investment manager Hudson Structured Capital Management, doing their insurance and reinsurance investment business as HSCM Bermuda, and Eos Venture who is a ... Read the full article

Acrisure acquires artificial intelligence insurance business from Tulco

4th August 2020

Acrisure has announced that it has acquired artificial intelligence leader, Tulco LLC’s insurance practice to bring in data science, AI and machine learning capabilities to the insurance brokerage industry. Acrisure said that the acquisition will be “a transformational move” for the company as it will enable a true deployment of insurtech ... Read the full article

B3i announces first live partner application on Fluidity platform

3rd August 2020

The Blockchain Insurance Industry Initiative (B3i) has partnered with Reinsurance Technical Accounting Blockchain (Ritablock) to launch the first live partner application on its B3i Fluidity platform. B3i’s Fluidity platform is designed to facilitate and accelerate the development and deployment of partner applications, interoperable within B3i’s distributed ecosystem. This gives partners access to ... Read the full article

Milliman updates P&C reserve analysis system

3rd August 2020

Global consulting and actuarial firm Milliman has released version 2020b of its Arius solution, a family of reserve analysis systems for property and casualty re/insurers. The update provides enhancements to the systems’ analytical capabilities, together with new additions to the reporting and data management tools. According to Milliman, this release adds new ... Read the full article

Lemonade reinsurers betting on improved loss ratio: analysts

28th July 2020

Analysts are forecasting an improvement in the loss ratio of insurtech firm Lemonade over the coming quarters, based on its current reinsurance arrangements. Taking 75% of the risk for every premium dollar Lemonade writes, reinsurers are bearing the bulk of the loss ratio outcome, good or bad, JMP Securities notes. The insurtech’s ... Read the full article

Global insurtech investment rebounds 71% to $1.5bn in Q2: WTW

28th July 2020

Global Insurtech investment hit $1.56 billion during the second quarter of 2020, an increase of 71% compared to Q1, according to Willis Towers Watson. 2020's first quarter was heavily influenced by the uncertainty surrounding COVID-19. WTW says the increase in Q2 was driven in part by later-stage investments, including four ‘mega-rounds’ in ... Read the full article

SSP joins Willis Towers Watson’s Radar Live program

24th July 2020

Broker Willis Towers Watson (WTW) has announced it will partner with insurance software provider SSP to optimise real-time pricing and time to market for insurance companies. SSP will join WTW’s global Radar Live collaborator program, improving its ability to derive insights from various data sources and to deploy machine learning models ... Read the full article

Insurtech Branch closes $24mn Series A funding round

23rd July 2020

Branch, a tech-driven home and auto insurer, has closed a $24 million Series A funding round that was co-led by Greycroft and HSCM Bermuda, with participation from both returning and new investors. Over the past year, Branch has launched in Arizona, Illinois, Missouri, Ohio, and Texas, and the Series A funding ... Read the full article

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