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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.

InsurTech Amenity closes $18m Series B led by STARR Companies

18th April 2019

Amenity Analytics, a software company developing solutions using natural language processing (NLP) and machine learning, has secured $18 million in a Series B funding round led by STARR Companies and its Chief Executive Officer Hank Greenberg. Amenity says it plans to use the funding to expand its team and product development. NLP ... Read the full article

POP Insurance partners with AI insurtech Fractal Industries

17th April 2019

POP Insurance Holdings, a specialist insurance group based in Sydney, Australia, and its MGA subsidiary Fusion Specialty Insurance (Fusion), have announced a new partnership with Fractal Industries, an AI-powered analytics and insurtech software provider. Under the partnership, the Virginia-based insurtech will use its proprietary, data-driven decision support platform to enable Fusion’s ... Read the full article

InsurTech startup Cytora secures £25m in funding, eyes international expansion

17th April 2019

London-based InsurTech startup Cytora has secured £25 million in a Series B funding round led by Swedish venture capital firm EQT Ventures. Cytora, which was founded at the University of Cambridge in 2014, deploys artificial intelligence (AI) into commercial underwriting processes to improve and assist with the automation of decisions throughout ... Read the full article

Tremor completes property cat auction placement for Markel

16th April 2019

InsurTech startup Tremor Technologies, Inc. has completed another property catastrophe auction placement, successfully pricing and placing two layers of Markel Corporation's property cat excess of loss reinsurance tower, reports Artemis. Tremor, which operates an open, technology-driven, programmatic market for the placement of reinsurance risk, completed its first auction of a ... Read the full article

Property data startup Insurdata secures $3m in seed funding

16th April 2019

Insurdata, an InsurTech startup specialising in the augmentation of peril-specific exposure and risk data, has secured $3 million in seed funding from a group of investors led by Anthemis and Menlo Ventures. Insurdata was launched in 2017 to address the lack of property-specific data available to the re/insurance market. By providing access ... Read the full article

Generali turns to blockchain for enhanced employee benefits offering

16th April 2019

Professional services firm Accenture and Generali Employee Benefits (GEB) have announced a blockchain-powered solution aimed at enabling participants in the reinsurance process for captive or pooling services to access the same data and reduce processing errors via smart contracts and automated reconciliation. The solution is expected to streamline GEB’s employee benefit ... Read the full article

InsurTech Lemonade secures $300m in latest funding round

11th April 2019

InsurTech start-up Lemonade has announced the signing of a $300 million Series D funding round led by SoftBank Group, with participation from Allianz, General Catalyst, GV, OurCrowd, and Thrive Capital. Lemonade is one of the most high-profile companies to emerge from the insurance technology wave with aims to digitising the entire ... Read the full article

Aon leverages AI to extract data insights from historical insurance documents

11th April 2019

Global insurance and reinsurance broker Aon has leveraged Groundspeed's artificial intelligence (AI) technology to uncover invaluable insights, helping the firm identify underlying causes of claims. The AI technology harvested critical data from thousands of historical insurance documents, identifying 170 million data points. Aon states that the manual process of extracting data resulted ... Read the full article

IA Capital Group raises $150mn for insurtech-focused venture capital

4th April 2019

IA Capital Group, an insurtech-focused venture capital firm, has announced that it has raised $150 million across three funds, representing its sixth, seventh and eight investment vehicles. The funds include: Inter-Atlantic Stonybrook Insurtech Ventures, a multi-LP fund focused on P&C insurtech Inter-Atlantic; G Fund, a single-LP fund focused on life/annuity/retirement insurtech; ... Read the full article

Advent appoints Jack Smith as Head of Operations

1st April 2019

Advent Insurance Management, the InsurTech-led Lloyd’s & London market service provider, has appointed Jack Smith as Head of Operations, a newly created role. Smith, whose appointed is effective immediately, brings over 35 years’ experience to Advent. He will be based in the company’s Chelmsford offices. Prior to Advent he worked for Tasker ... Read the full article

AXA-backed insurtech Sayata Labs launches with $6.5mn in funding

26th March 2019

Sayata Labs, a new insurtech start-up focused on cyber risk assessment for insurers and SMBs, has announced today that it has launched with $6.5 million in seed funding. The Tel Aviv-based company is already partnering with re/insurance broker AXA to enhance its cyber risk capabilities, while Israeli venture capital firm Elron ... Read the full article

AI insurtech omni:us adds Joost Heideman as strategic advisor

26th March 2019

omni:us, an insurance-focused artificial intelligence (AI) solutions business, has appointed Joost Heideman as strategic advisor to help drive its global expansion plans. Heideman has more than 25 years experience in the insurance industry and was until January 2019 Chief Executive Officer of Dutch mutual insurance company Univé. In his new role, Heideman ... Read the full article

B3i raises a further $16 million, shuffles board

26th March 2019

According to reports, the Blockchain Insurance Industry Initiative (B3i) now has total capital of more than $22 million, after raising a further $16 million over the last month. Corporate registry filings in Switzerland reveal that just over half, approximately $8.34 million, was raised in the form of cash, with the remainder ... Read the full article

Technology is Swiss Re’s solution to market challenges: Ojeisekhoba

25th March 2019

Swiss Re views the integration of new technologies as both a critical opportunity for growth and the solution to many of the challenging market conditions that have tested the re/insurance industry in recent years. This is according to Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re, who told Reinsurance News that ... Read the full article

Concirrus adds former Munich Re Exec Dieter Berg to Board

25th March 2019

London-based insurtech Concirrus has added former President of the International Union of Marine Insurance, Dieter Berg, to its Board as Non-Executive Director. Berg served across a number of senior positions at Swiss Re before joining Munich Re as an Executive Manager in 2001. He would go on to serve in a ... Read the full article

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