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.
Beazley Digital goes live
7th February 2022
Beazley’s new digital hub that brings together underwriting, claims, technology, and operational experts into one team has gone live. The service, known as Beazley Digital, aims to provide digital access and services to a range of products for Beazley’s global broking partners. Ian Fantozzi, CEO of Beazley Digital said: “With technology playing ... Read the full article
Verisk and HOVER team up to help streamline property claims
3rd February 2022
Verisk and HOVER are working together to help insurers, adjusters, restorers, and policyholders streamline claims. The two companies are teaming up to combine Verisk’s Xactimate with technology from HOVER that can take smartphone photographs and turns them into a ‘digital twin with valuable 3D data’. Property professionals and policyholders can use the ... Read the full article
Metromile shareholders approve acquisition by Lemonade
1st February 2022
Shareholders in the pay-per-mile auto insurer, Metromile Inc. have given their approval to the impending acquisition of the company by insurtech Lemonade. At a Special Meeting of Metromile stockholders held today, approval was given to a proposal to adopt the merger agreement entered into with Lemonade, Inc., which is aiming to ... Read the full article
RGA & Amazon partner on FAC optimisation solution
25th January 2022
Global life and health reinsurer Reinsurance Group of America (RGA) has announced the launch of its FAC Optimization solution featuring Amazon Textract, a machine learning service from Amazon Web Services (AWS). By integrating machine learning and natural language processing technology into the underwriting process, RGA is looking to improve risk selection ... Read the full article
SiriusPoint invests into Honeycomb
21st January 2022
SiriusPoint has announced an investment into technology firm Honeycomb. The investment is part of Honeycomb’s latest round of funding, which has seen the firm raise $19m. The additional funds will reportedly be used to further deepen the company’s technological moat and help it expand into multiple additional states in the US. According ... Read the full article
American Financial Group buys software company Verikai
19th January 2022
American Financial Group has announced that it has bought machine learning company Verikai. The latter, which has reportedly developed a machine learning tool to help assess insurance risk, will continue to be led by Jeff Chen, its current president and CEO. Carl H. Lindner III, co-CEO of American Financial Group, said that ... Read the full article
SiriusPoint invests in crypto data & tech provider Lukka
19th January 2022
Global specialty re/insurer SiriusPoint has announced a new investment into Lukka, an institutional crypto data and software provider. Lukka raised $110 million in its latest round of financing, with SiriusPoint acting as one of the lead investors. The company says this latest investment will enable it to expand its offering to institutional ... Read the full article
Acrisure Re names Ming Li as Global Head of Cat Modeling
18th January 2022
Acrisure Re, the re/insurance broker and fintech platform of Acrisure, has announced the appointment of Ming Li to the new role of Managing Director and Global Head of Catastrophe Modeling. Effective January 18th, he will be based in New York and will report to Michael Cross, President of Acrisure Re North ... Read the full article
Swiss Re’s Magnum Go receives Digital Trust Label
18th January 2022
Swiss Re’s Magnum Go, an automated underwriting engine designed for life insurance, has been certified with the Digital Trust Label (DTL). Done through the Swiss Digital Initiative (SDI), the DTL designed to help users identify trustworthy digital certificates. Moses Ojeisekhoba, CEO Reinsurance of Swiss Re, said: “We strongly believe in digital responsibility ... Read the full article
Lloyd’s CFO to take on COO duties
17th January 2022
Lloyd’s CFO Burkhard Keese is lining up to take on COO duties when incumbent Jennifer Rigby departs towards the end of this month. The new structure, under which Keese will maintain both roles, is being put in place to facilitate the delivery of Lloyd’s Blueprint Two programme. That programme is the second ... Read the full article
Accelerant secures $190mn in funding round
14th January 2022
Insurtech Accelerant has secured $190 million at a USD2 billion pre-money valuation in a funding round led by Eldridge, with participation from Deer Park, Marshall Wace, MS&AD Ventures. Accelerant's platform helps its members better understand risk, benefit from insights, and handle operational and regulatory complexity. The insurtech works with its members to drive ... Read the full article
Acrisure grows tech platforms with Appalachian takeover
7th January 2022
Fintech firm Acrisure has announced the acquisition of Appalachian Underwriters, a U.S. Managing General Agency (MGA), and U.S. Administrator Claims, a Third-Party Administrator (TPA), in addition to affiliated entities. With a model that encompasses both an MGA and wholesale distribution, Appalachian places more than $400 million gross written premium (GWP) into ... Read the full article
Aspen implements e-placing platform Whitespace
29th December 2021
Bermudian re/insurer Aspen has opted to implement the e-placing platform Whitespace. The platform enables brokers and underwriters to digitally offer, negotiate, place, and bind insurance and reinsurance contracts. Aspen explained that the move would further reinforce the importance of Lloyd’s as a platform and align it with the target of having 90% ... Read the full article
Reinsurance leaders see real-time data tools as ‘game-changer’
24th December 2021
During a recent panel discussion that formed part of Aon Virtual Reinsurance Renewal Season fireside chats, leaders from the industry identified real-time data management as a ‘game-changer’ for reinsurance The session was hosted by Andy Marcell, Chief Executive Officer of Aon’s Reinsurance Solutions, and included as panelists Monica Cramér Manhem, President, ... Read the full article
Insurtech Archipelago hires Chief Revenue & Financial Officers
24th December 2021
AI-driven technology and data analytics company Archipelago has announced the appointments of Erroin Martin as Chief Revenue Officer and Sarah Mears Kim as Chief Financial & Business Officer. Martin joins the company as an experienced revenue leader, having managed international business, finance, planning, and business development, as well as over ten ... Read the full article
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