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.
AXA Partners and Ancileo renew partnership
12th March 2021
AXA’s global Business-to-Business-to-Consumer unit AXA Partners and Ancileo have announced a renewal of their partnership to further bolster their position in the travel insurance market post-pandemic. Ancileo is a digital insurance platform provider which specialises in providing insurance technology, API & insurance software solutions to insurers. The technology developed by Ancileo allows ... Read the full article
Cowbell Cyber raises $20mn in Series A funding round
11th March 2021
AI-powered cyber insurer Cowbell has closed a $20 Million Series A funding round as it looks to scale its offering for continuous underwriting and closed-loop risk management. Cowbell Cyber’s closed-loop approach to cyber risk bundles cybersecurity awareness training, continuous risk assessment, and pre and post-breach risk improvement services. Brewer Lane Ventures led ... Read the full article
Abacai Group acquires Dayinsure
10th March 2021
Abacai Group, a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson, has acquired Dayinsure to bolster its existing insurance businesses. Founded in 2005, Dayinsure provides temporary motor insurance cover in the UK for car, van, motorhome and business drivers and has ... Read the full article
Aon partners with Nayms & Realm on crypto offering
9th March 2021
Re/insurance broker Aon has partnered with crypocurrency insurtech firm Nayms and Bermudian specialist insurer Realm to launch a new blockchain-enabled crypto pilot. As part of the collaboration, Aon via Nayms will conduct a first pilot with Teller Finance, a decentralized lending protocol, to highlight the ability to scale cover by matching ... Read the full article
WTW partners with CDL on Radar Live programme
8th March 2021
Re/insurance broker Willis Towers Watson (WTW) has announced that CDL, a specialist technology provider, will be joining WTW’s Radar Live Collaboration programme. Radar Live is an insurance rating and rules programme that builds on WTW’s analytical software Emblem, Classifier, Radar Base and Radar Optimiser. The programme has been designed to help equip ... Read the full article
Cytora adds Thomas Huerlimann to board of advisors
4th March 2021
UK insurtech Cytora has announced the appointment of Thomas Huerlimann to its board of advisors as the company looks to bolster its growth plans. Huerlimann brings 30 years of experience in banking, reinsurance and insurance. He joins a team of existing advisors that includes AXA XL’s former Chief Executive, Client and Country ... Read the full article
Hippo to go public following Reinvent merger
4th March 2021
California-headquartered, homeowners focused-insurtech Hippo is set to go public following a merger with Reinvent Technology Partners, a special purpose acquisition company. The transaction is expected to close in mid-2021 and will see the new company have approximately $1.2 billion in cash at closing, including up to approximately $230 million of cash ... Read the full article
Arbol adds Hong Guo as EVP, Chief Insurance Officer
3rd March 2021
Parametric insurtech platform Arbol has added Hong Guo as executive vice president and Chief Insurance Officer. He is set to lead all insurance related strategy and operations for the company and brings nearly three decades of global re/insurance experience to the company. Guo most recently served as a managing director at the ... Read the full article
Verisk’s Sequel to acquire, invest in Whitespace
3rd March 2021
Whitespace Software, a provider of digital placing technology to the re/insurance market, has signed an investment and acquisition agreement with Verisk business Sequel in an effort to accelerate growth. Whitespace is designed to provide market participants with a scalable digital placing platform capable of enabling customers to adopt a more efficient ... Read the full article
Lemonade posts $34mn Q4 net loss
2nd March 2021
Insurtech firm Lemonade has announced a fourth quarter net loss of $33.9 million, compared to $32.7 million in the prior year quarter. Meanwhile, fourth quarter total revenue was $20.5 million. Gross earned premium for the quarter was $50 million, up by $24 million against the fourth quarter of 2019, this was primarily ... Read the full article
Analysis predicts insurtech premium will exceed $556bn in 2025
1st March 2021
A new study by Juniper Research has found that the total value of premiums generated by insurtech firms will exceed $556 billion in 2025, a 123% leap from the $250 billion seen in 2020. Juniper Research’s analysis also predicts that insurers in the motor, life, home and health industries risk becoming ... Read the full article
TypTap secures $100m of funding from Centerbridge
1st March 2021
Florida insurtech and subsidiary of HCI Group, TypTap Insurance Company, has secured a $100 million investment from private investment management firm Centerbridge Partners. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million. In exchange for its investment, Centerbridge received from TypTap preferred shares with ... Read the full article
Fathom launches UK flood model on Nasdaq’s risk modelling, cat service
1st March 2021
Fathom, a research-led flood risk modelling specialist has launched its UK flood model on Nasdaq’s Risk Modelling for Catastrophes service. This is the second model that Fathom had launched with Nasdaq, following its US flood model. Fathom’s Chief Research Officer Oliver Wing, commenting within an official company statement, said he’s keen to ... Read the full article
Supercede founders see opportunity in overlooked reinsurance space
26th February 2021
Supercede co-founders Jerad Leigh and Ben Rose believe there is “real opportunity” for their firm to become the primary digital ecosystem in the reinsurance space, which they say has historically been overlooked by technology. The launch of Supercede, a data-driven global trading platform formerly known as Riskbook, was announced earlier ... Read the full article
Beazley forms new digital business unit
26th February 2021
Specialist insurer Beazley has announced the creation of a new digital business unit, which is intended help the company to reformulate its approach to developing and underwriting digital insurance solutions. Existing digital initiatives and platforms created to further Beazley’s digital capabilities will now be led by a multi-disciplinary team headed up ... Read the full article
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