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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.

Tokio Marine reveals participation in Lemonade’s reinsurance program

27th October 2020

Tokio Marine Holdings has announced its participation in the reinsurance program of insurtech firm Lemonade, in what it views as the first step towards a larger strategic partnership. The company has been a participant in the reinsurance program since July 1st 2020, which was around the same time that Lemonade ... Read the full article

AM Best assigns strong credit ratings to Swiss Re-backed Coefficient

26th October 2020

AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” to Coefficient Insurance Company. The outlook assigned to these ratings is stable. Coefficient, a Verily subsidiary focused on employer stop-loss, is backed by Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant ... Read the full article

Swiss Re backs parametric quake product by Cover Genius & QuickBooks

23rd October 2020

Insurtech firm Cover Genius has teamed up with Intuit to offer a new parametric earthquake policy, which is backed by capacity from Swiss Re and underwritten by Palomar Excess and Surplus Insurance Company. Cover Genius intends to offer a range of insurance products to customers using QuickBooks, an accounting software package ... Read the full article

Deep learning reinsurance startup Kettle announces seed financing round

23rd October 2020

Reinsurance startup Kettle has announced its seed financing round. The $4.71 million round was led by True Ventures, with participation from Acrew Capital, Homebrew Ventures, Anthemis, and Inspired Capital. Founded by Andrew Engler and Nathaniel Manning, Kettle is structured as a reinsurance company that can underwrite risks that are on the ... Read the full article

SageSure launches commercial insurance products for coastal businesses

21st October 2020

Insurtech company SageSure has announced the availability of a new line of commercial insurance products in underserved coastal markets. SageSure's new solutions will be launching in South Carolina followed by Florida, where its commercial product line will provide cover for over 300 classes of business in six industry groups, including office, ... Read the full article

Hannover Re US, insurtech Ladder announce partnership growth

21st October 2020

Hannover Re US and insurtech Ladder are to work together in a new and expanded partnership, having first collaborated in 2016. Ladder offers technology-driven insurance solutions designed to meets the demands of today’s consumers. Hannover Re US has provided support in the form of risk management solutions, accelerated underwriting consultation and outsourced ... Read the full article

MAPFRE partners with insurtech Shift on customer claims experience

20th October 2020

MAPFRE is set to create a new claims process supported by technology from claims automation firm Shift. The Spanish insurer will leverage Shift’s end-to-end claims automation solution in an effort to deliver a more friendly and transparent experience for clients. Shift has joined MAPFRE's startup engagement program insur_space and over the coming ... Read the full article

Munich Re backed bsurance develops digital insurance solution for kika/Leiner

20th October 2020

Munich Re backed Austrian InsurTech start-up, bsurance, has developed a digital insurance solution for kika/Leiner's furniture stores. The new solution is designed to enable customers to take out extended warranty insurance directly upon purchasing electrical appliances. bsurance worked closely with kika/Leiner to tailor the insurance product to their customer needs. UNIQA ... Read the full article

InsurTech startups need to learn from previous mistakes: Convergence 2020

20th October 2020

In a virtually held 2020 ILS Bermuda Convergence event, Insurtech became the main focus on a panel featuring Lyndsey Toeppen, Former Vice-President, Sandbox Insurtech Ventures and Adrian Jones, Deputy CEO, P&C Partners, Ventures & Strategic Partnerships, SCOR. The question of what it takes for an InsurTech to be successful will be ... Read the full article

Hippo adds former Marsh CFO to Board

20th October 2020

Hippo, a California-based insurtech focused on US home insurance, has announced the addition of Sandra Wijnberg to its Board of Directors. Wijnberg was previously the Chief Financial Officer (CFO) of Marsh & McLennan Companies, and also worked as a Partner, Chief Administrative Officer and member of the Board of Aquiline Holdings. At ... Read the full article

Demotech assigns ‘unsurpassed’ rating to Coefficient

9th October 2020

Financial analysis firm Demotech has awarded Coefficient Insurance Company a Financial Stability Rating of Aʺ, A Double Prime, Unsurpassed. Coefficient provides self-funded employers with a data-based approach to employer stop-loss. The company is a Verily subsidiary and is backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re ... Read the full article

Swiss Re CorSo to leverage insurtech Majesco’s digital platforms

9th October 2020

Swiss Re Corporate Solutions has implemented a series of solutions offered by cloud insurance software provider Majesco. The Swiss Re subsidiary opted to implement the Majesco Digital1st Insurance platform and Majesco Policy for P&C on Majesco CloudInsurer, to support initiatives in the Mexico retail market business. “Swiss Re Corporate Solutions had an ... Read the full article

JMP sees “rapid improvement” in insurtech loss ratios

8th October 2020

Analysts at JMP Securities have observed a “rapid improvement” in the loss ratios of several insurtech firms, who previously struggled in their earlier days. Over the longer-term, JMP is expecting to see an increasing number of insurtech companies show loss ratios at or below industry norms. At the same time, as these ... Read the full article

E&S digital wholesale platform Pathpoint launches

8th October 2020

Pathpoint, a San Francisco-based Excess & Surplus digital wholesale distributor, has announced its launch. The company has been built to connect retail agents and E&S carriers through its proprietary platform built to quote and bind Excess & Surplus lines coverage. With efficiencies gained from the technology, Pathpoint claims to distribute its products ... Read the full article

Munich Re Automation Solutions to invest €16mn in R&D program

8th October 2020

Dublin-based Munich Re Automation Solutions, a subsidiary of the global reinsurer, is set to invest roughly €16 million in a research & development program and transform it into a platform company The investment in Horizons, also based in Dublin, is supported by the Irish Government through IDA Ireland and will enable the ... Read the full article

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