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.
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
Ebix Europe to offer alternative trading platform for London Market
14th December 2021
London Market technology specialist Ebix Europe has announced that it is designing and developing a new electronic trading platform that will offer an alternative to the recently announced PPL platform. The platform, called PlacingHub, has been developed by Ebix Europe’s in-house specialists, and promises to offer users the equivalent functionality already ... Read the full article
Tremor sees $175m premium transacted in 2021, marketplace revenue swells 400%
14th December 2021
Leading online reinsurance pricing and placing platform Tremor transacted $175 million of premium in 2021 and achieved marketplace revenue growth of over 400% year over year. Tremor has seen over $275 million of reinsurance premium transacted on its marketplace since 2018. While the market has continued to harden overall and traditional reinsurance ... Read the full article
SiriusPoint helps create new Floridian insurer VYRD
14th December 2021
A new insurer serving homeowners in Florida has launched as a joint venture between specialty re/insurer SiriusPoint and insurtech Bolt. VYRD is set to deploy cutting-edge technology in its efforts to bring more choice and new solutions to customers in Florida. Residents in the state have faced rising prices as litigation costs ... Read the full article
Coalition launches cyber-focused Captive
13th December 2021
Commercial lines insurtech Coalition is set to launch a new captive targeting risk on its cyber programs. It's hoped this Captive will enhance Coalition's ability to manage capacity and its long-term growth objectives, whilst also aligning incentives with its customers. The firm's technology-driven approach is eyeing a new, more successful model of ... Read the full article
Verisk’s Sequel launches new distribution solution
10th December 2021
Insurance software specialist, Sequel a Verisk Business, has announced the development of a new solution designed to simplify the distribution of standalone products and delegated authority business. The solution, called Sequel Hub, will launch with over 10 carriers and two of the top 3 brokers. Sequel Hub orchestrates messaging between brokers, carriers, ... Read the full article
Insurtech Goosehead expanding into life following ETHOS deal
9th December 2021
Goosehead, a technology independent carrier, has announced its entrance into the life insurance space through a strategic alliance with Ethos Life. Through Goosehead’s Digital Agent Platform, clients can now access coverage online without blood tests or medical exams. This partnership is seen as a way to eliminate traditional barriers and underscore Goosehead’s ... Read the full article
Twelve Capital & Eos partner on insurtech growth funding
9th December 2021
Twelve Capital, an investment manager specialising in the insurance industry, has partnered with insurtech venture capital fund manager Eos Venture Partners to provide growth funding for insurtech companies. With an exclusive focus on insurtech and adjacent opportunities, the fund will capitalise on Twelve Capital’s insurance network and Eos’ insurtech expertise. The focus ... Read the full article
Digital disruption to accelerate in 2022: Clyde & Co
8th December 2021
Analysts at Clyde & Co are anticipating that investment in technology will ramp up in the coming year, with potential ramifications for every aspect of insurance companies’ operations, from internal processes to the products and solutions they deliver to customers. The global COVID-19 pandemic has already accelerated the push to digitisation ... Read the full article
INARI recruits Chief Commercial Officer from AkinovA
7th December 2021
INARI, a core technology provider for the global insurance and reinsurance industries, has announced the appointment of Alexander Pike as Chief Commercial Officer to support its international growth strategy. Based in London, Pike will be INARI’s first UK employee, and will be tasked with the role of building out the company’s ... Read the full article
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