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.
AI insurtech Tractable raises $60m in funding
18th June 2021
Tractable, an AI company that assists insurers with accident and disaster recovery, has raised $60 million in a Series D investment round led by Insight Partners and Georgian. The round more than doubles the total amount of funding raised by Tractable from $55 million to $115 million and values the company ... Read the full article
Neptune Flood hits $20bn milestone for insured property value
17th June 2021
Neptune Flood, an insurtech firm focused on the flood market, has surpassed $20 billion in total insured property value, the company has confirmed. Trevor Burgess, CEO of Neptune Flood noted that the insurtech managed to reach this milestone in under four years since launching. With over 70,000 clients and 6,000 active insurance ... Read the full article
Previsico hires former RMS lead modeller Dimosthenis Tsaknias
16th June 2021
Live flood forecasting insurtech firm Previsico has announced the appointment of Dimosthenis Tsaknias as Senior Flood Modeller in charge of its flood modelling team. Tsaknias previously served as Lead Modeller for RMS, where he contributed to the development of hazard and financial loss flood risk models covering 12 countries in Europe, ... Read the full article
Insurtech Root places June property cat program with Tremor Panorama
15th June 2021
Root, Inc., the parent company of the Root Insurance family of carriers, has successfully placed its June property catastrophe program with Tremor Technologies' next generation trading platform, Panorama™. Insurtech Root leverages industry-leading, mobile-first technology in order to bring fairness and a best-in-class experience to drivers. The company focuses on driving behaviour rather ... Read the full article
USAA to acquire auto-focused insurtech Noblr
11th June 2021
Primary mutual insurer USAA has today announced its intention to acquire insurtech firm Noblr, Inc. as it looks to offer usage-based insurance (UBI) to its members. Noblr offers smart car insurance that rewards its members' good driving habits by giving highly accurate, competitive rates that are based on numerous factors, including ... Read the full article
Insurtech Branch closes $50mn series B funding round
11th June 2021
Home and auto insutech Branch Insurance has closed a $50 million Series B funding round to help fuel its national and partner channel expansion. The round was led by Anthemis Group with participation from investors such as HSCM Bermuda and SCOR P&C Ventures. Branch focuses on removing as much friction as possible ... Read the full article
QOMPLX launces new Q:HELM marketplace
10th June 2021
QOMPLX has introduced its Q:HELM marketplace, a multi-vendor cloud environment that allows customers to access data, models, and analytic services to create a more dynamic and complete view of their own unique insurance risks. The platform enables users to run numerous scenarios against real or hypothetical portfolios to evaluate potential exposure, ... Read the full article
Tremor reports 20% growth in total capital as adoption accelerates
8th June 2021
Programmatic re/insurance risk transfer marketplace, Tremor, has reported that insurance companies leveraging its Panorama™ trading platform have sought over $700 million in capacity from reinsurers in the month of May alone. Tremor announced the enhancement of its original programmatic re/insurance risk transfer marketplace with the launch of Panorama™ in February ... Read the full article
Kevin Abramson named President at insurtech Cover Whale
7th June 2021
Commercial auto insurtech firm Cover Whale Insurance Solutions, Inc. has announced the appointment of Kevin Abramson as President. Abramson brings two decades of re/insurance industry experience, having led the casualty segment at TigerRisk Partners and held leadership positions at Willis Re North America. As a member of Cover Whale's leadership team, Abramson ... Read the full article
Supercede platform aims to simplify outward reinsurance placements
3rd June 2021
Reinsurance tech firm Supercede has created a new platform for insurance carriers to manage their largest outward reinsurance placements. Supercede Analytics aims to simplify the way the industry manages and processes increasingly complex submission data by having insurers’ outwards reinsurance divisions prepare all the data relating to their placements. Currently, carriers mostly ... Read the full article
wefox targets US and Asia expansion after raising $650m
1st June 2021
Berlin-based insurtech firm wefox Group has raised US $650 million in a Series C round of funding, the proceeds of which will be used to help the firm expand into the US and Asia within the next two years. The funding, which brings wefox’s post-money valuation to $3 billion, will also ... Read the full article
Apollo’s ibott division partners with Israeli insurtech CI
1st June 2021
Apollo's sharing economy initiative ibott (Insuring Businesses of Tomorrow, Today) is partnering with Israeli insurtech CI in an effort to reduce fleet and rider insurance costs and turn insurance into a revenue source by offering on-demand cover. CI is an Israeli insurtech founded in 2019 that specializes in connected insurance solutions ... Read the full article
Parametrix raises $17.5m for cloud service downtime product
27th May 2021
IT downtime insurance provider Parametrix Insurance has raised $17.5 million in a funding round that saw participation from FirstMark Capital and F2 Ventures. Parametrix’s insurance product provides coverage for companies that could suffer financial or operational disruption due to outages to third-party cloud-based services. Using parametric triggers, the firm’s policies pay-out in ... Read the full article
Boost secures $20mn in Series B funding
25th May 2021
B2B digital insurance platform Boost has completed a $20 million Series B financing round in an effort to fuel growth of its platform, new product development and partner marketing. The round was led by RRE Ventures and included new investors and a global publicly traded reinsurance company, bringing total funding since ... Read the full article
SCOR develops claims rules engine for life business
21st May 2021
Reinsurer SCOR has developed a Claims Rules Engine (CRE) as a management solution for its life business, designed to accelerate claims lodgement and decision making, while freeing up claims assessor to support more complex claims. The SCOR CRE leverages Smart Rules, using behavioural economics principles to create a simple claims-lodging process ... Read the full article