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’s consulting unit adopts pricing tech from Akur8
21st April 2021
Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit. Specifically developed for re/insurance, Akur8’s solution is designed to enhance pricing processes by automating risk and demand modelling, using artificial intelligence proprietary technology. The solution promises a reduction in modelling ... Read the full article
Price Forbes launches digital General Aviation facility
20th April 2021
Independent insurance broker Price Forbes has launched a new digital General Aviation facility designed to quickly quote and bind risks with a leading Lloyd’s syndicate. This development within Price Forbes’ proprietary EDGE platform is expected to improve speed of service and placement for clients by delivering quotes in real time. EDGE is ... Read the full article
Swiss Re joins auto tech firm Veoneer to further road safety solutions
20th April 2021
Global reinsurer Swiss Re is partnering with automotive technology specialist Veoneer on road safety solutions designed to help further the development of advanced driver assistance systems (ADAS) and related services. The partnership will see Veoneer enhance its ADAS tech using the insights and empirical knowledge Swiss Re has accumulated over years ... Read the full article
Korean Re partners with healthcare insurtech Leapstack
20th April 2021
Seoul-based reinsurer Korean Re has partnered with Leapstack, an AI-powered insurtech that specialises in healthcare, to support Leapstack’s expansion into the Korean insurance market. Leapstack, which has already partnered with several of Korea’s largest insurers, aims to provide big data AI solutions for commercial insurance companies and social security management agencies. In ... Read the full article
Advent Insurance Management launches Ecliptic
19th April 2021
Lloyd’s and London Market service provider Advent Insurance Management has launched its technology business, Ecliptic. Ecliptic was created to partner with and challenge Lloyd’s and London market businesses to help realise their ambitions through technological innovation. Ecliptic’s formation follows Advent being awarded approved service supplier status by LIMOSS, after building the LMA’s ... Read the full article
Willis Towers Watson launches Radar Workbench software
16th April 2021
Re/insurance broker Willis Towers Watson (WTW) has launched Radar Workbench, new software technology designed to support the decision-making of frontline underwriters. The product works by harnessing a range of internal and external data assets to deliver contextual analysis with the aim of improving pricing and claims reserving accuracy. With Radar Workbench, WTW ... Read the full article
Zurich looks to cut property claims settlement times with new AI solution
16th April 2021
Global insurer Zurich says it is able to cut property claims settlement times to under 24 hours with a new AI solution created in collaboration with Sprout.ai. Sprout.ai is a London-based claims automation platform that last year secured $2.5 million in a second seed funding round. The solution is described as ... Read the full article
Bindable partners with Swiss Re’s iptiQ
16th April 2021
Insurance technology firm Bindable has entered into a strategic partnership with Swiss Re’s iptiQ, a digital life and health insurance platform. The new strategic relationship includes a minority investment by iptiQ in Bindable and will help insurance carriers and agents expand their distribution channels across the US. The partnership extend to brands, ... Read the full article
Lloyd’s Lab announces its sixth cohort additions
15th April 2021
Lloyd’s of London has announced the next eleven InsurTech start-ups to join the sixth cohort of the Lloyd’s Lab innovation accelerator programme. The program will be focused on creating simpler products for customers, including building solutions related to climate risks. This follows Lloyd’s commitments to reducing complexity and enhancing coverage clarity outlined ... Read the full article
Data needs to be imbued with meaning if re/insurers are to benefit: Verisk’s Payne
9th April 2021
It is universally accepted that data is integral to the future-proofing of the insurance industry, however its value diminishes when insurers lose sight of what they set out to achieve, according to Tom Payne, Managing Director UK & Europe at Verisk Underwriting, speaking in a recent interview with Reinsurance News. With ... Read the full article
Starr, Liberty Mutual raise $100m for Bitcoin-focused NYDIG as TransRe’s Sapnar joins
8th April 2021
Starr Insurance and Liberty Mutual are among a number of leading property and casualty (P&C) insurers that have helped NYDIG, provider of technology and investment solutions for Bitcoin, raise $100 million in additional growth capital. These companies join existing investors such as New York Life and MassMutual. Concurrently, NYDIG has announced the ... Read the full article
Reinsurance management tech critical for carriers: Sapiens’ Greenberg
8th April 2021
Technologies to help manage and automate the reinsurance ceding are becoming increasingly critical for insurance carriers, according to Martin Greenberg, Reinsurance Product Manager for Sapiens, a global provider of software solutions for the insurance industry. Greenberg noted that managing reinsurance is an often overlooked and underserved part of the insurance process, ... Read the full article
Porch Group completes Homeowners of America takeover
7th April 2021
Software company Porch Group has completed its previously announced acquisition of Homeowners of America (HOA), a property and casualty insurance company that specializes in residential property coverage for homeowners and investors. HOA is a managing general agent and insurance carrier hybrid and primarily operates in Texas, Arizona, North Carolina, South ... Read the full article
Insurtech Corvus enters partnership with Skyward Specialty
7th April 2021
Boston-based insurtech firm Corvus Insurance has entered into a new partnership with Skyward Specialty Insurance Group to expand its Smart Cargo + Cyber offering. The announcement comes after Corvus raised $100 million in a Series C fundraising round, bringing the company to a $750 million valuation. Corvus Smart Cargo + Cyber insurance ... Read the full article
K2 announces acquisition of insurtech Loss Run Pro
1st April 2021
K2 Insurance Services has announced its acquisition of Montana-based insurtech Loss Run Pro (LRP). LRP was founded in early 2020 by Reghan Brandt and focuses on harnessing technology to solve issues across the insurance placement process. K2 considers this a quality acquisition offering growth opportunities throughout the US. Regarding the effectiveness of LRP ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
