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.

Munich Re backs Amber Group digital asset cover by Arch & OneDegree

21st June 2022

Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd's and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re. The comprehensive global insurance coverage will protect digital assets held in Amber Group’s wallet infrastructure on ... Read the full article

Accelerant sets up Brussels office

16th June 2022

Insurtech platform Accelerant has announced the establishment of a new EU headquarters in Brussels, as it continues to target expansion in Europe. Founded in 2018, Accelerant specializes in serving a network of managing general agents (MGAs). Accelerant Insurance Europe S.A. was formed in 2021 with the ability to trade across the UK ... Read the full article

Insurers must do more to modernise, says ACORD

16th June 2022

ACORD, the standards-setting body for the global insurance industry, has released its 2022 Insurance Digital Maturity Study of the world's 200 largest insurance carriers. This year the Maturity Study has expanded to include mutuals — an important component in the insurance industry. It reveals that, among the 200 largest worldwide ... Read the full article

Zurich’s International Programs business goes digital

16th June 2022

Zurich Insurance Group (Zurich) has announced the digitalisation of its International Programs business. According to the group, the transformation to its program workflow will significantly enhance customer and broker experience and allow for a more efficient, seamless and sustainable collaboration. The digital exchange of data between ... Read the full article

What could hard market pricing mean for insurtechs seeking reinsurers?

13th June 2022

There are concerns over how the access of some insurtech firms to reinsurance may be impacted by hard market pricing. According to analysts, price adequacy and underwriting results may be affected by access to reinsurance capital. An analyst at Goldman Sachs, who recently had discussions with insurtech companies at a recent conference, ... Read the full article

Pen Underwriting appoints Dan Hydleman as specialist tech underwriter

13th June 2022

Pen Underwriting has appointed Dan Hydleman as a specialist technology underwriter. The company said that Hydleman will be based in its Leeds office and will report into Tom Dixon, head of technology. He joins from Hiscox where he has been an underwriter specialising in technology since 2019. Dixon said: “Dan is ... Read the full article

Insurtech Cytora names Zaheer Hooda as Head of North America

9th June 2022

UK insurtech Cytora has appointed Zaheer Hooda - former Senior Vice President of Data and Digital Enablement for Hiscox USA, as its Head of North America. Within his new role, Hooda will bring his fifteen years of experience within the industry, which includes driving strategic operational and digital transformation projects for ... Read the full article

Kovrr collaborates with Microsoft on internal cyber security data

8th June 2022

Cyber risk modeller Kovrr has announced its selection by Microsoft for Startups – a global program dedicated to accelerating the trajectory of high-potential start-ups to enable growth at scale. By being a program member, this will give Kovrr exclusive access to Microsoft’s technology, as well as its mentorship and business support. In ... Read the full article

CoreLogic announces collaboration with Hiscox London Market

8th June 2022

Leading global property data and analytics-driven solutions provider, CoreLogic, has announced that Hiscox London Market has adopted its PxPoint technology to better understand property risk and enhance underwriting accuracy. Delivered through the RiskMeter platform, the solution uses advanced geocoding technology to provide detailed information from precise location to structure, to assess ... Read the full article

WTW’s Radar upgrade mitigates “black-box” risks with increased transparency

20th May 2022

Re/insurance broker WTW has announced the launch of the newest version of its leading-edge Radar pricing software, Radar 4.15. The latest version overcomes a major barrier to wider adoption of machine learning by introducing a market-first capability, making it significantly easier for insurers to benefit from the full predictive power of ... Read the full article

Ed Gaze steps down from Lloyd’s Lab

19th May 2022

Ed Gaze has announced he is stepping down from his role as head of Lloyd’s Lab, the insurtech innovation incubator embedded within the London-based insurance and reinsurance marketplace. In a LinkedIn post, Gaze said that he was moving but gave no further details as to his next destination. However, he said that ... Read the full article

Aspen brings its clout to Counterpart

13th May 2022

Insurtech firm Counterpart has gone into partnership with Aspen Insurance and Markel to give small businesses access to the former’s management liability products. In a statement, Counterpart said that Aspen was joining as a member company of Markel. Tanner Hackett, CEO of Counterpart, said: “From vaccine mandates to hybrid workplaces to supply ... Read the full article

Qoala becomes SEA’s fastest growing insurtech through $65m Series B funding

13th May 2022

Indonesian insurtech start-up Qoala, has announced that it has successfully raised Series B funding of US$65 million, a thirty times growth since the company’s Series A round in April 2020. The Series B funding was led by by Eurazeo with participation from other existing investors including Flourish Ventures, KB Investment, MassMutual ... Read the full article

Howden launches new digital trading platform called xTrade Cargo

11th May 2022

Howden has launched xTrade Cargo, an end-to-end digital trading platform. This new initiative launched as a proof of concept in 2019 for Cargo SME business and today provides 20 leading cargo carriers with access to the largest and most complex cargo risks in the sector. It enables insurer participants to collect ... Read the full article

Climate insurtech FutureProof gains MGA funding, led by AXIS

9th May 2022

FutureProof Technologies, a climate-focused P&C insurtech, has raised $6.5 million in capital, which it has employed to establish a managing general agency (MGA) entity. The capital raise, which was led by AXIS Digital Ventures with participation from prior investors Innovation Endeavors and MS&AD Ventures, brings FutureProof’s total funding to nearly $10 ... Read the full article