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.
Swiss Re and Claim Genius partner on AI motor solution
23rd September 2021
Swiss Re has partnered with insurtech firm Claim Genius to implement an artificial intelligence (AI) powered solution for motor claims. Using real time AI damage assessment and an estimation platform, the firms hope to bring more efficiency to the motor claims process. "Swiss Re Solutions aims to deliver world leading claims management ... Read the full article
Insurtech firm bolttech secures $210mn in extended funding round
23rd September 2021
Insurance technology firm bolttech has secured an additional $30 million after extending its recently announced $180 million series A funding round, which was led by Activant Capital Group. The extended funding round saw the addition of two new strategic investors, Singapore-based global investor EDBI and Alma Mundi Insurtech Fund, Spain ... Read the full article
Over two-thirds of Lloyd’s capacity now accessible via Tremor
21st September 2021
Over two thirds of Lloyd’s capacity is now available via the online re/insurance pricing and placing platform Tremor Technologies, a figure equating to $33 billion. Tremor says 33 Lloyd’s Syndicates representing over 70% of its Managing Agents have entered into agreements to offer coverage directly on its marketplace. The Syndicates are described ... Read the full article
Brit targets faster catastrophe response with machine learning algorithm
21st September 2021
Brit Ltd has announced the launch of a proprietary machine learning algorithm designed to accelerate the identification of post catastrophe property damage, based on the use of ultra-high-resolution imagery. This proof of concept is being used by the Brit Claims team and its delegated claims adjusters in the wake of Hurricane ... Read the full article
Half of customers would consider insurance from digital players, report shows
20th September 2021
New research published by Capgemini and Efma shows that, for the first time, 50% of insurance customers are willing to consider coverage from new-age digital players, as incumbents seek strategic partnerships to remain competitive. The World InsurTech Report 2021 notes that insurtechs and big tech players are leveraging significant capital inflows ... Read the full article
Concirrus introduces new platform for IoT-powered insurance
17th September 2021
Insurtech firm Concirrus has introduced a new platform for an Internet of Things (IoT) powered insurance market. The platform is designed to help insurers accelerate their transition to new digital operating models, create new products and drive cost savings. Specifically, Concirrus says the offering will help businesses digitise knowledge using a wide ... Read the full article
Corvus, SiriusPoint announce investment & underwriting capacity partnership
16th September 2021
Corvus Insurance, a provider of smart commercial insurance products, has partnered with specialty re/insurer SiriusPoint, via a strategic investment and multi-year underwriting capacity partnership that will support existing and future commercial insurance product offerings. The partnership’s first program, with leading program management solution provider R&Q’s Accredited acting as the fronting insurer, ... Read the full article
Swiss Re partners on digital motor product in France
14th September 2021
Swiss Re has announced a new partnership with community-based travel platform BlaBlaCar and motor insurance specialist L’olivier Assurance, the French branch of Admiral Group, to launch a digital motor product in France. The product, called BlaBlaCar Coach, is a smartphone app that offers drivers personalised coaching and tips for safer driving ... Read the full article
Porch bolsters insurtech, home warranty presence with new acquisitions
13th September 2021
Software company Porch Group has announced the acquisitions of CSE Insurance and American Home Protect (AHP), as it looks to accelerate its insurtech ambitions and enter the home warranty market. CSE is a California-based personal lines insurer focused on property and auto that Porch has agreed to acquire from its current ... Read the full article
AV8 Ventures launches second fund backed by Allianz SE
13th September 2021
AV8 Ventures has launched with a $180 million second fund to help drive emerging technologies in AI-driven health, mobility and enterprise. AV8 Ventures has invested in 20 companies with a focus on the US since its launch in 2018. “We are humbled by the continued support from Allianz and our founders who ... Read the full article
WTW, Applied Systems target real-time pricing enhancements
13th September 2021
Global reinsurance broker Willis Towers Watson is working with Applied Systems on a programme aiming to assist insurers and MGAs in developing their rates, underwriting rules and adjustments, and then deploying them directly to the market in real time. As part of the arrangement, Applied has expanded its Rating Hub functionality ... Read the full article
Vouch locks in $90mn of new funding, announces WeWork partnership
10th September 2021
Startup insurance platform Vouch has secured $90 million of new funding and revealed their role as the preferred business insurance provider to Brex, Carta, and WeWork customers. The firm has also established its own authorised insurance carrier and expanded its line of products. After two rounds of financing Vouch has secured a ... Read the full article
Aon partners with Latium Technologies for risk mitigation tool
9th September 2021
Aon plc has partnered with Latium Technologies to introduce Latium's Job Site Insights (JSI) Internet of Things (IoT) application and suite of products as a foundational risk mitigation tool for contractors and owners. The alliance between Latium Technologies and Aon brings industry-leading technology to more contractors and owners, so they can ... Read the full article
Tremor hits $500bn reinsurance capital milestone
8th September 2021
Programmatic re/insurance risk transfer marketplace Tremor surpassed $500 billion in reinsurance capital this month after signing its 115th reinsurer to its marketplace. Tremor says that it now provides insurance companies with direct access to more than 95% of the world’s reinsurance capacity across traditional reinsurers, Lloyd’s syndicates and ILS funds. In addition, ... Read the full article
Motive Partners leads $100mn funding round for Insurify
1st September 2021
US virtual insurance agent and comparison platform Insurify has closed a $100 million Series B funding round led by specialist private equity firm Motive Partners. Existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures and Moneta VC were joined by new arrivals Viola Growth and Fort Ross Ventures. Founded in 2013 by ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
