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.
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
Investor B.P. Marsh sells stake in motor MGA to insurtech Humn
23rd December 2021
Specialist early-stage investor B.P. Marsh & Partners has announced the sale of a stake in UK based motor insurance managing general agent Walsingham Motor Insurance Limited for £4.6 million. The stake amounted to a 40.5% shareholding in London-based managing general agency Walsingham Motor Insurance. As well as the sale of that stake, ... Read the full article
Brit leveraging machine learning to sharpen US tornado damage identification
20th December 2021
Brit has expanded its use of a proprietary machine learning algorithm in its efforts to accelerate the identification of US Tornado property damage. The technology will be used alongside its own ultra-high-resolution imagery. Brit successfully deployed this technique to identify insured property damage following last week’s catastrophic US tornadoes. The machine learning algorithm ... Read the full article
Allianz to leverage AI-driven risk processing from insurtech Cytora
17th December 2021
Allianz SE has announced an agreement with London-based insurtech Cytora that will see the former integrate AI-based digital risk processing solutions into its commercial insurance business. It's hoped the move will improve Allianz' margins by enabling better risk selection. “This is great news for our customers, intermediaries and underwriters," said Jörg Hipp, ... Read the full article
Insurtech Stere raises $2mn seed funding
15th December 2021
Stere, a digital solution designed to tackle speed-to-market, capacity sourcing, and other challenges relevant to managing general agents and insurers, has closed its $2 million seed funding round. Stere connects “capacity seekers” like MGAs, program administrators and embedded insurance platforms with carriers and reinsurers. Data analytics essentially aid MGAs, brokers, and others ... Read the full article
Kin expands US reach with carrier takeover
15th December 2021
Kin Insurance, a direct-to-consumer homeowners insurance technology company, has greatly expanded its reach in the US market with the completion of its acquisition of an inactive insurance carrier that holds licenses in 43 states. For Kin, which currently operates in only Florida, Louisiana and California, the deal enables it to serve customers ... Read the full article
Digital broker LuckyTruck secures SiriusPoint backing
15th December 2021
LuckyTruck, a digital broker and aggregator has secured an investment and partnership with specialty re/insurer SiriusPoint. LuckyTruck is a niche broker focused on making the purchase of insurance for trucking fleets in the US more transparent, customized, affordable, and convenient. The company aims to disrupt commercial trucking insurance brokerage, offering an alternative ... Read the full article
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