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.
FGRe inks contract with leading insurtech firm
30th June 2021
Reinsurance and investment management firm FG Financial Group has announced that its reinsurance subsidiary, FG Reinsurance (FGRe), has entered into a contract with a leading Insurtech company. This is FGRe’s second reinsurance contract written since FG Global launched the subsidiary in June 2020. The contract provides automotive insurance utilising driver monitoring to ... Read the full article
Swiss Re’s iptiQ, ImmoScout24 launch loss of rent insurance product
29th June 2021
Swiss Re’s iptiQ has partnered with ImmoScout24, Germany’s leading online real estate platform, on a loss of rent insurance product designed to protect against the financial uncertainties that can arise from new tenancy agreements. As an insurance partner, iptiQ is offering ImmoScout24 customers a digital product that will cover the complete ... Read the full article
WTW begins digitally trading complex risks at Lloyd’s via Brit’s Ki
29th June 2021
Re/insurance broker Willis Towers Watson has started live trading complex commercial risks after integrating its broking platform with Ki. Ki was launched by Brit in collaboration with Google Cloud and its algorithm is able to evaluate the marketplace’s policies and automatically quote for business. The integration of its algorithmic underwriting with WTW’s ... Read the full article
Aon and Zesty.ai gain approval for AI wildfire model in California
28th June 2021
Re/insurance broker Aon has decided to extend its strategic alliance with Zesty.ai, a tech firm that uses artificial intelligence to assess climate and non-catastrophe risk, following the approval of a new wildfire risk model in California. The California Department of Insurance (CDI) recently approved two underwriting and rating filings, including Z-FIRE, ... Read the full article
SiriusPoint invests in RV rental, outdoor travel agent Outdoorsy
25th June 2021
Specialty re/insurer SiriusPoint has invested in RV rental and outdoor travel marketplace Outdoorsy, helping the startup raise $120 million in equity and debt financing. With the reopening of the US economy and the international markets the company serves, it’s hoped that additional capital will help the company scale. Outdoorsy also plans to ... Read the full article
AND-E UK partners with Flock for commercial fleet insurance
25th June 2021
AND-E UK (AND-E), part of Aioi Nissay Dowa Europe, has partnered with insurtech company Flock to change how commercial fleet insurance is priced and distributed. Both firms have been working together over the past six months to develop two connected motor fleet insurance products which are now available across the UK. Fleet ... Read the full article
AI insurtech Tractable raises $60m in funding
18th June 2021
Tractable, an AI company that assists insurers with accident and disaster recovery, has raised $60 million in a Series D investment round led by Insight Partners and Georgian. The round more than doubles the total amount of funding raised by Tractable from $55 million to $115 million and values the company ... Read the full article
Neptune Flood hits $20bn milestone for insured property value
17th June 2021
Neptune Flood, an insurtech firm focused on the flood market, has surpassed $20 billion in total insured property value, the company has confirmed. Trevor Burgess, CEO of Neptune Flood noted that the insurtech managed to reach this milestone in under four years since launching. With over 70,000 clients and 6,000 active insurance ... Read the full article
Previsico hires former RMS lead modeller Dimosthenis Tsaknias
16th June 2021
Live flood forecasting insurtech firm Previsico has announced the appointment of Dimosthenis Tsaknias as Senior Flood Modeller in charge of its flood modelling team. Tsaknias previously served as Lead Modeller for RMS, where he contributed to the development of hazard and financial loss flood risk models covering 12 countries in Europe, ... Read the full article
Insurtech Root places June property cat program with Tremor Panorama
15th June 2021
Root, Inc., the parent company of the Root Insurance family of carriers, has successfully placed its June property catastrophe program with Tremor Technologies' next generation trading platform, Panorama™. Insurtech Root leverages industry-leading, mobile-first technology in order to bring fairness and a best-in-class experience to drivers. The company focuses on driving behaviour rather ... Read the full article
USAA to acquire auto-focused insurtech Noblr
11th June 2021
Primary mutual insurer USAA has today announced its intention to acquire insurtech firm Noblr, Inc. as it looks to offer usage-based insurance (UBI) to its members. Noblr offers smart car insurance that rewards its members' good driving habits by giving highly accurate, competitive rates that are based on numerous factors, including ... Read the full article
Insurtech Branch closes $50mn series B funding round
11th June 2021
Home and auto insutech Branch Insurance has closed a $50 million Series B funding round to help fuel its national and partner channel expansion. The round was led by Anthemis Group with participation from investors such as HSCM Bermuda and SCOR P&C Ventures. Branch focuses on removing as much friction as possible ... Read the full article
QOMPLX launces new Q:HELM marketplace
10th June 2021
QOMPLX has introduced its Q:HELM marketplace, a multi-vendor cloud environment that allows customers to access data, models, and analytic services to create a more dynamic and complete view of their own unique insurance risks. The platform enables users to run numerous scenarios against real or hypothetical portfolios to evaluate potential exposure, ... Read the full article
Tremor reports 20% growth in total capital as adoption accelerates
8th June 2021
Programmatic re/insurance risk transfer marketplace, Tremor, has reported that insurance companies leveraging its Panorama™ trading platform have sought over $700 million in capacity from reinsurers in the month of May alone. Tremor announced the enhancement of its original programmatic re/insurance risk transfer marketplace with the launch of Panorama™ in February ... Read the full article
Kevin Abramson named President at insurtech Cover Whale
7th June 2021
Commercial auto insurtech firm Cover Whale Insurance Solutions, Inc. has announced the appointment of Kevin Abramson as President. Abramson brings two decades of re/insurance industry experience, having led the casualty segment at TigerRisk Partners and held leadership positions at Willis Re North America. As a member of Cover Whale's leadership team, Abramson ... Read the full article
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