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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.

Everest Re adopts Xuber for Reinsurers tech platform

21st November 2017

Bermuda-based global reinsurance firm Everest Re has signed up to adopt the Xuber for Reinsurers platform for all of its global reinsurance subsidiaries. The Xuber for Reinsurers platform was developed by Xchanging, a DXC Technology company, and allows reinsurers to digitalise their processes using a single-data-model and end-to-end business processing platform. Everest ... Read the full article

Hudson Structured Capital Management invests $15mn in Goji platform

20th November 2017

Hudson Structured Capital Management has invested $15 million in online home and auto insurance distribution platform Goji's smart technology, which blends predictive data analytics and personal lines insurance broker services. Goji's data-driven home and automobile insurance platform enables Goji agents to match coverage needs of its preferred buyers with Goji's integrated ... Read the full article

Steven Beard named as RFIB & Limehouse holding company CFO

20th November 2017

Steven Beard has been appointed to Chief Financial Officer (CFO) of RFIB and Limehouse holding company and to Chief Executive Officer (CEO) of newly created services company, George Yard Services (GYS), effective December 4th, 2017. Beard joins from a role as Group CEO of technology and professional services firm Agilisys, which ... Read the full article

Re/insurers to shift from products to platforms with cloud technology

16th November 2017

Insurance technology software provider, Majesco, said a new generation of cloud business platforms, Digital Insurance 2.0, are the stage from which re/insurers will achieve the digitisation of internal processes as well as bring new digital insurance solutions into the market, in its latest report on the capabilities of cloud platforms ... Read the full article

Xceedance invests in blockchain specialist start-up ChainThat

14th November 2017

Insurance consulting, technology and data sciences provider Xceedance has made a multi-million dollar equity investment in a re/insurance  blockchain specialist start-up, ChainThat. As a pioneering InsurTech startup in blockchain and distributed ledger technologies, the ChainThat team provides secure online transactional services tailored for re/insurance processes and develops products for the commercial, ... Read the full article

Incumbents could be relegated, if tech giants come for re/insurance

10th November 2017

Incumbent insurance and reinsurance firms could be relegated if tech-savvy, customer focused players like Amazon or Google decide to enter the sector in a meaningful way, and it looks like at least one of these giants is preparing its first foray. While the insurance and reinsurance industry is focused on InsurTech ... Read the full article

Reinsurers funding big insurtech bets for their future: Wightman, PwC

8th November 2017

Global reinsurance firms are increasingly investing in insurtech start-ups, ranging from internet-first distribution channels, to advanced data and analytics start-ups, internet-of-things product manufacturers, and even drone operators. The range of technology investment opportunities being pursued by firms in the insurance and reinsurance world is broad, as insurtech and now reinsurtech waves ... Read the full article

Allianz’s captive insurance blockchain prototype shows efficiency potential

7th November 2017

Allianz Risk Transfer (ART), a division of Allianz Global Corporate & Specialty (AGCS), which is part of global insurer Allianz, has created and successfully implemented a blockchain prototype solution for a global captive insurance program of an existing ART client. ART collaborated with Ernst & Young (EY) as blockchain advisory service ... Read the full article

Reinsurance Group of America backs cryptocurrency startup Bitspark

7th November 2017

Hong Kong domiciled FinTech that provides cryptocurrency brokerage services to global Money Transfer Operators (MTOs), 
Bitspark Limited, has secured funding from Reinsurance Group of America's (RGA) innovation accelerator, RGAx. Bitspark's money exchange technology and placement in the blockchain sector offers a unique perspective on international cash-based remittance transactions. The announced funding from RGAx will see ... Read the full article

Property & casualty business now live on PPL

6th November 2017

The Board of PPL Ltd, a core component of the London Market Target Operating Model, has announced that property and casualty lines of re/insurance business are now live on its electronic placement platform. The move means that the area of London market insurance and reinsurance business with the greatest volumes can ... Read the full article

Reinsurers need to manage expense & invest in InsurTech: PwC

6th November 2017

In the consistently competitive, challenged and evolving reinsurance market, companies need to focus on cost optimisation and reducing expenses, in order to remain agile and be able to take advantage of future opportunities, according to PwC. Add on the impacts of recent catastrophic losses, which are estimated to total an industry-wide ... Read the full article

Emerging Asia speeds ahead in InsurTech race: Willis Towers Watson

3rd November 2017

Emerging markets are the potential forerunners of the innovation race - often able to bring new solutions to the market at a faster pace than peers operating in highly developed markets - according to Willis Towers Watson's Q3 InsurTech briefing. With an emphasis on the China and Emerging Asia operating environment, ... Read the full article

“Best innovation” comes when incumbents work in start-up environment

31st October 2017

"You get the best innovation when you combine an incumbent working alongside the start-up environment," said Chief Investment Officer (CIO) of SyndicateRoom, James Sore, at a panel session in London that looked at what re/insurers can do to create the best environment for start-ups to thrive. "A good few years ago ... Read the full article

QBE closes RiskGenius investment, enters into multi-year product agreement

30th October 2017

QBE Ventures, a division of QBE Insurance Group Limited, has now closed its first investment in machine learning company, RiskGenius, as part of its technology investment programme. RiskGenius assists carriers, brokers and regulators when analysing policy and endorsement language and aid in product development, and QBE has also entered into a multi-year ... Read the full article

Singapore aims to be global capital for Asian insurance and risk transfer

30th October 2017

The Monetary Authority of Singapore (MAS) has published a roadmap for the future of its financial services sectors, including insurance and risk transfer, aiming to become the leading hub in Asia and putting technology at the heart of industry transformation. The industry transformation map (ITM) for financial services, published by MAS, ... Read the full article

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