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.
Guidewire acquires P&C insurtech HazardHub
20th August 2021
Software specialist Guidewire has announced the acquisition of HazardHub, a provider of API-driven property risk insights to the P&C insurance industry. HazardHub curates, analyses and distills enough data to offer a comprehensive, national catalog of risks while its API provides risk scores and supports the underlying information for any US property. “Underwriters, ... Read the full article
Tech altering the risk reality for companies post-COVID: WTW
20th August 2021
A new report from re/insurance broker Willis Towers Watson (WTW) has highlighted how emerging technologies are rapidly altering the risk reality for companies across most industries in the wake of the COVID-19 pandemic. The report, which explores how the pandemic has impact the risk landscape for the Technology Media and Telecoms ... Read the full article
Markel underwrites pay-per-mile motorcycle cover for Voom
20th August 2021
Specialist insurer Markel has agreed to underwrite a pay-per-mile insurance offering for motorcycles by Voom, a US insurtech firm. The usage-based offering is designed to provide more flexible coverage, based on the seasonal or irregular usage habits of many motorcycle riders. Riders will be able to pay a low monthly base rate ... Read the full article
Mosaic and DXC launch tech platform for specialty insurance
19th August 2021
Mosaic Insurance and DXC Technology have announced the launch of a new insurance technology platform designed to increase the speed at which specialty insurance is sold, underwritten and serviced. The new platform is powered by several of DXC’s technology services, including DXC Assure for Commercial and Specialty, business process outsourcing, applications, ... Read the full article
Eos hires Zach Powell as General Partner
19th August 2021
Eos Venture Partners (Eos), the venture capital fund focused exclusively on the insurtech sector, has appointed Zach Powell as General Partner. Powell brings years of industry experience to Eos, having spent the majority of his career as a principal investor in the financial services sector with a focus on insurance. He joins ... Read the full article
Hannover Re US incorporates ExamOne data into underwriting platform
19th August 2021
Hannover Life Reassurance Company of America (Hannover Re US) has announced a collaboration with ExamOne, a Quest Diagnostics Company, to incorporate ExamOne’s innovative LabPiQture data into hr | ReFlex, Hannover Re’s automated underwriting solution for life insurers. The integration will allow hr | ReFlex clients to automate the use of LabPiQture’s ... Read the full article
Acrisure enters partnership with Quotal
18th August 2021
Insurtech ecosystem specialist Quotall has entered into a strategic partnership with global insurance distribution business Acrisure. The partnership will see Acrisure provide insurance product sourcing and insurer partnership services to meet the portfolio needs of Quotall clients. The joint strategy will offer a consolidated solution for big brands across industry sectors that ... Read the full article
Insurtech NEXT partners with Amazon on third-party seller insurance platform
11th August 2021
Insurtech company NEXT Insurance will be participating in Amazon Insurance Accelerator, a platform that provides the online marketplace's sellers with cover via instant quotes. It was revealed this week that Marsh has been working closely with Amazon on the platform. NEXT's new feature automatically adds Amazon as an 'additional insured' and ... Read the full article
Lockton Re partners with Nephila Capital on automated placement solution
11th August 2021
Lockton Re, the reinsurance arm of the global brokerage, has partnered with Nephila Capital to help release Lockton Re SAGELink Automated Placement Solutions. It's hoped this new capability will automate the process of price discovery between reinsurance intermediary broker and reinsurer. Its designed to allow a tighter integration of treaty visualisation features ... Read the full article
ACORD partners with cloud-based insurance platform Novidea
11th August 2021
Novidea, a provider of a cloud-based insurance distribution platform, has joined the ACORD Solutions Group 'Licensed Integrator Partner’ program. The partnership will enable Novidea to work more closely with the ACORD community and insurance ecosystem to share insights and engage with other participants, including other technology providers and incumbent businesses. ACORD Solutions ... Read the full article
Carbon bolsters data analytics capabilities with two new hires
11th August 2021
Specialist managing general underwriter (MGU) Carbon has appointed Navdeep Dhuti as a Data Engineer and Sophia Johnson as a Data Services Associate. Dhuti joins from customer analytics consultancy Acrotrend Solutions where he was a Data Engineer / Data Scientist. Johnson joins from Tokio Marine Kiln where she was a Data Analyst, and ... Read the full article
Vesttoo raises $6mn in Hanaco-led Series A funding round
9th August 2021
Hanaco Ventures has partnered with Vesttoo via an equity investment of $6 Million, leading Vesttoo’s Series A round aimed at further promoting the company’s multi-billion security-based investment portfolio. Vesttoo is a leading global alternative reinsurance and investment platform offering a security-based investment portfolio based on non-catastrophe insurance risks. The funding round is ... Read the full article
Corvus Insurance acquires Wingman tech platform
9th August 2021
Boston-based insurtech firm Corvus Insurance has announced the acquisition of Wingman Insurance, which provides a tech platform for cyber and tech E&O coverage across the US. Wingman, which will retain its independent brand and offering following the acquisition, is expected to enable Corvus to enter the admitted coverage marketplace and increase ... Read the full article
Cryptocurrencies & claims a focus of the seventh Lloyd’s Lab cohort
6th August 2021
Lloyd's has today unveiled the next 11 InsurTech startups joining the seventh group of the Lloyd's Lab innovation accelerator programme, which this time will focus on the development of simpler products and solutions targeting the cryptocurrency space. Lloyd's selected its next cohort of InsurTech startups from 179 applications, with each successful ... Read the full article
Lemonade reduces quota share reinsurance program
5th August 2021
Insurtech start-up Lemonade has made a reduction in its quota share reinsurance program, lowering it from the previous 75% to 70%. Last year, Lemonade transitioned to a quota share program and agreed to cede 75% of its premium to a panel of reinsurers, with the firm retaining 25%. Following the impacts of ... Read the full article