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.
Aon partners with Athenium Analytics on updated claims processing platform
8th October 2021
Global re/insurance broker Aon has announced an update to its Claims Signal Platform (CSP), adding two new predictive analytics models that provide daily alerts to claims handlers as new information is collected. CSP was developed in collaboration with Athenium Analytics and now includes two new predictive analytics models that provide daily alerts to ... Read the full article
Corvus adds Vincent Weafer as CTO
7th October 2021
AI-driven commercial insurer Corvus has announced the appointment of Vincent Weafer as its new Chief Technology Officer, bringing over 25 years’ experience to the role. Weafer was most recently Senior Vice President of Cyber Engineering at Capital One, where he led a multi-disciplined team of cyber, technology, and machine learning engineers ... Read the full article
Swiss Re joins insurtech Getsafe’s $93m Series B
7th October 2021
Swiss Re was among the participants in the extended Series B funding round of digital insurer Getsafe, which secured another $63 million in funds, bringing the Series B total to $93 million. IptiQ, Swiss Re’s digital B2B2C provider of bespoke insurance solutions, previously led the initial Series B funding round ... Read the full article
Insurtech Cover Whale secures $15.5mn seed funding
6th October 2021
Insurtech MGA Cover Whale has announced the completion of a $15.5 million fundraising effort led by Ambac and TigerRisk Partners' Applied Financial Technologies subsidiary. Cover Whale was built on a foundation of technology, data, and machine learning analytics intended to transform the commercial auto segment and bring to market a forward-looking ... Read the full article
Miller inks deal with complex risks platform provider Dialogue
6th October 2021
The Credit and Political Risks (CPRI) team at Independent specialist re/insurance broker Miller has partnered with complex risks platform provider Dialogue in an effort to enhance its service offering to clients. The team is said to have successfully completed the first deal on the new platform; a demonstration of how Dialogue’s ... Read the full article
IQUW to inform pricing with Temblor’s real-time seismic risk data
4th October 2021
Property, Commercial and Speciality re/insurer IQUW has entered a deal with catastrophe modeller Temblor to leverage its real-time seismic risk data in future pricing decision-making . The California-based modeller’s platform is continuous with no borders or boundaries, providing IQUW with a single baseline to assess any risk. Furthermore, Temblor is described as ... Read the full article
Ticker partners with Abacai Group
4th October 2021
Connected motor insurtech, Ticker, and Abacai Group have partnered to increase Ticker’s capacity and introduce new levels of pricing sophistication, in order to bring connected insurance to a wider market. Ticker, which was founded in 2018 and launched in 2019 with the backing of Munich Re Ventures, has been rolling out ... Read the full article
Insurance securitisation startup Ledger starts casualty ILS fund
1st October 2021
Ledger Investing, a technology-driven marketplace for matching insurance risk to capital markets, has closed its Nanorock Insurance Linked Security (ILS) fund investment in casualty insurance risks through the Ledger Connect platform. The fund, will invest in workers’ compensation, general liability, commercial and private passenger auto liability as well as other casualty risks ... Read the full article
Hannover Re to explore advanced underwriting with Dublin-based R&D project
1st October 2021
Global reinsurer Hannover Re plans to invest over €6 million in Dublin Digital – a research and development (R&D) programme aimed at delivering a competitive edge via next generation d underwriting. To facilitate this, the company plans to create up to 16 positions in Dublin over the next 3 to 4 ... Read the full article
ACORD releases re/insurance data standards for electronic placing
30th September 2021
ACORD, the standards-setting body for the global insurance industry, has expanded its Global Reinsurance & Large Commercial (GRLC) Data Standard to include new standards for electronic placing. Re/insurers will now be able to leverage these newly developed standards to help adopt more advanced electronic placement processes, from submission to bind. The initial ... Read the full article
Corvus adds Madhu Tadikonda as President
30th September 2021
Corvus Insurance, a provider of AI-powered commercial insurance, has welcomed Madhu Tadikonda as its first President. Tadikonda brings over a decade's worth of insurance industry experience to the role. He started his career at AIG, serving as both Chief Data Scientist in Commercial Insurance and then Global Chief Underwriting Officer. More recently, Tadikonda ... Read the full article
Praedicat moves to simplify underwriting of emerging liability risk
28th September 2021
Praedicat, the liability emerging risk analytics company, has launched a new Company Risk Score designed to markedly simplify the underwriting of complex emerging risks for liability insurance. The Company Risk Score is available in Praedicat’s emerging risk software product CoMeta and applies machine learning and artificial intelligence ... Read the full article
Farmers Insurance to use mobile robot for catastrophe claims
27th September 2021
Farmers Insurance plans to use a digitally controlled mobile robot to assist with in-field catastrophe claims handling and non-catastrophe property inspections, in an effort to improve safety and efficiency. Created by Boston Dynamics and customized for Farmers, a robotic quadruped will join claims personnel beginning as early as fall 2021 to ... Read the full article
Chaucer utilises exposure management platform from Allphins
24th September 2021
International specialty re/insurance group Chaucer has elected to use an exposure management platform for specialty risks from Allphins. By using the platform, Chaucer hopes to gain insights into its Energy Reinsurance risk accumulation, allowing for better decision making. The re/insurer notes that limited and unstructured data is often the root cause of ... Read the full article
Plug and Play adds MGA insurtech Stere.io to Winter 2021 Cohort
23rd September 2021
Digital managing general agent-focused Stere.io has been selected by Plug and Play as one of more than 150 startups to join the innovation accelerator's Winter 2021 class. Stere launched in May 2021 and has been described as permanently changing how managing general agencies, insurtechs and program administrators resolve speed-to-market, capacity sourcing, ... Read the full article
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