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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.

WTW launches claims benchmarking solution

15th November 2018

Global re/insurance broker Willis Towers Watson has announced the launch of Claim Metrics, a bespoke claims benchmarking solution for UK personal lines insurers. WTW says the service provides claims leaders with a tool for identifying performance improvements, as well as offering underwriters, pricing teams, actuaries and senior management vital insights into profitability ... Read the full article

Seeman Holtz marks 50th acquisition with insurtech platform purchase

13th November 2018

Seeman Holtz Property & Casualty has marked its 50th acquisition with the purchase of Boston-based online home and auto insurance technology platform, Goji (formerly consumers United). Goji operates an online analytics and data-driven personal lines insurance distribution platform that matches clients’ needs with coverage through an integrated network of over a ... Read the full article

SCOR Global Life eyes simpler underwriting experience with OnePath partnership

13th November 2018

SCOR Global Life, a division of the France-headquartered reinsurer, has said the Australia-based life insurance provider OnePath has succeeded in delivering customers a simpler and faster underwriting experience by utilising the behavioural economics insights and analytics it developed. SCOR Global Life says this has resulted in an improved application layout, simple ... Read the full article

B3i targets commercial insurance with Zürich workshop

12th November 2018

The Blockchain Insurance Industry Initiatives’ (B3i) first commercial insurance workshop has taken place in Zürich, a move aimed at identifying and exploring the ways in which blockchain technology can be successfully applied to the value chain. B3i has already overseen the launch of a property catastrophe excess of loss product and ... Read the full article

Bermuda aims to be the world’s insurtech capital: Premier Burt

8th November 2018

Speaking at an event on the island last week, Premier of Bermuda, the Hon. David Burt, JP, MP, explained that as well as being seen as the world's risk capital he would like to see Bermuda take the title of the world's insurtech capital as well. Premier Burt was speaking at ... Read the full article

Anti-fraud start-up Fraugster raises $14mn in funding, backed by Munich Re

8th November 2018

Fraugster, a software company that uses artificial intelligence (AI) to prevent fraud for online retailers, has raised $14 million in a Series B funding round that saw participation from HSB Ventures, the venture capital arm of global reinsurer Munich Re. Munich Re announced in April that it had agreed to ... Read the full article

Chubb partners with Munich Re’s HSB on IoT services

2nd November 2018

Global insurer Chubb has entered into a partnership with Munich Re’s Hartford Steam Boiler Inspection and Insurance Company that will provide the firm’s policyholders with access to Internet of Things (IoT) technology for homes and businesses. The IoT sensors and devices will target the threat of water damage by monitoring for ... Read the full article

Munich Re backed insurtech Ethos raises $35mn in funding

31st October 2018

Ethos, a life insurtech start-up backed by Munich Re and Assurity Life, has raised an additional $35 million in funding from a Series B financing round, led by venture capital firm Accel. Additional investors included Google Ventures (GV), previous investors Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a ... Read the full article

Insurtech unicorns drive insurance tech funding in Q3: CB Insights

30th October 2018

Insurance technology funding in the third-quarter of 2018 was driven by the needs of so-called "unicorns", typically defined as insurtech start-ups valued at over $1 billion, as these high-growth tech companies need capital to drive growth. Start-ups that achieve unicorn status tend to need large amounts of capital to help them ... Read the full article

AI insurtech start-up omni:us secures $22.5mn in funding

30th October 2018

omni:us, an artificial intelligence (AI) powered insurtech start-up, has completed its Series A round of funding and secured a total investment of US $22.5 million, led by Berlin-based venture capital firm Target Global, MMC Ventures and Talis Capital. Existing investors Unbound and Anthemis also participated in the funding, which omni:us said ... Read the full article

Munich Re expands Plug and Play insurtech partnership to China

29th October 2018

Munich Re has entered into a strategic partnership as a Founding Anchor Partner of Plug and Play China, the Chinese business of Plug and Play, a global start-up accelerator and corporate innovation platform. Plug and Play, which is headquartered in Silicon Valley, enables corporations to engage with start-ups that may complement their ... Read the full article

AXA XL, MS Amlin, RFIB among firms testing new insurtech platform

26th October 2018

A consortium of insurance entities including AXA XL, Neon, MS Amlin, RFIB Group, and Antares has formed to test a new platform created by London-based software company Whitespace. Whitespace has built a fully-digital mobile and desktop platform to negotiate, quote and place insurance risks. Since April this consortium have engaged with the company ... Read the full article

Insurtech is the future infrastructure of insurance, says ZhongAn CEO

26th October 2018

A joint report by the recently-launched Fintech Research Institute of China’s largest online-only insurer ZhongAn and the financial advisory firm KPMG claims insurtech will enable a more efficient, compatible, balanced and humane insurance ecosystem. “We look forward to collaborating with all parties in the insurance industry through the construction of InsureTech, ... Read the full article

Hyperion eyes future insurtech investments with new Hyperion X business

24th October 2018

London-headquartered Hyperion Insurance Group has announced the launch of Hyperion X, a new business targeting key areas of data, analytics and digital platform delivery. Led by Barnaby Rugge-Price as Chief Executive Officer and Elliot Richardson as Chairman, Hyperion X will sit alongside its existing broking businesses Howden Broking Group, RKH Specialty, ... Read the full article

Marsh adopts Concirrus’ AI-powered platform to drive marine insights

24th October 2018

Global re/insurance broker Marsh has partnered with the London-based insurtech Concirrus and will adopt the firm’s Quest Marine platform to drive new insights and placement strategies for clients, while identifying new opportunities for digital product development in the marine insurance industry. Quest provides a single web application to allow commercial marine ... Read the full article

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