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.
Chubb launches new digital distribution platform
10th September 2020
Global re/insurer, Chubb has announced the launch of Chubb StudioSM, a new platform that aims to streamline the distribution of the company’s insurance products through its partners' digital channels around the world. Chubb believes the system will benefit its partners in retail, e-commerce, banking, fintech, airline, telecommunications and other industries by ... Read the full article
Tremor secures extra funding, completes more reinsurance auctions
9th September 2020
Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has raised another $4 million in financing, bringing its total funds to date to $15 million. Anthemis Group, Berkley Ventures and Markel Digital Investments participated in this latest round of funding, which will set the marketplace up for further growth. So far, Tremor ... Read the full article
Re/insurers looking for “less risky” insurtech investments: Willis Re’s Andrew Johnston
8th September 2020
Re/insurers are looking for insurtech investment opportunities that represent less of a ‘risk’, in that they have a proven track record and are more likely to be successful. In a recent conversation between Reinsurance News and Dr Andrew Johnston, global head of insurtech at Willis Re, it was explained how it ... Read the full article
European insurers expecting COVID-19 to accelerate digital innovation: analysts
7th September 2020
A new survey conducted by tech research and advisory firm, Information Services Group, has found that over 90% of European insurers are expecting COVID-19 to accelerate digital innovations in the industry. 86% of the continent's insurance executives surveyed by ISG expect customer behaviour to change significantly due to the COVID-19 crisis. Over 95% fully or ... Read the full article
Hippo completes acquisition of Spinnaker
1st September 2020
Hippo, the California-headquartered, homeowners focused InsurTech, has closed its acquisition of Spinnaker Insurance Company, a national property and casualty insurer licensed in 50 US states. Since 2017, Hippo Insurance Services has partnered with Spinnaker as its largest carrier platform, with Hippo products that are backed by Spinnaker currently available in more ... Read the full article
AXIS partners with AllDigital Specialty on small business management liability
26th August 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has formed a new partnership with AllDigital Specialty, a new managing general agent (MGA). The partnership will aim to develop and launch a new insurance platform designed to address the service void in the US small private company management ... Read the full article
IRB Brasil Re targets improved operational efficiency with Insurdata Portal
21st August 2020
Insurtech firm, Insurdata has announced that Brazilian reinsurer IRB Brasil Re will be using its Insuredata Portal. IRB Brasil Re will use the platform to create property geocode information across its global exposures. The company’s catastrophe modelling team will integrate the Portal into its daily risk assessment workflow, boosting the resolution of ... Read the full article
Lloyd’s Lab focus on COVID-19 solutions a positive for the industry: GlobalData
21st August 2020
Lloyd’s Lab, an incubator for startups in the re/insurance sector at Lloyd’s of London, will be continuing and actively focusing on pandemic solutions. Last month it announced the latest cohort of InsurTech disruptors that will join the Lloyd’s Lab innovation accelerator programme. The new Lab teams will join Praedicat, Metabiota ... Read the full article
Integra creates remote inspection tech for specialty insurance claims
20th August 2020
Loss adjustment business, Integra Technical Services has developed a new technology to investigate and manage specialty lines claims. This technology was created to avoid the challenges imposed by the COVID-19 pandemic’s national and international lockdown restrictions. The technology can be used on a smart phone camera handled by an insured’s employee, Integra’s ... Read the full article
Tokio Marine HCC uses tech to simplify indemnity agreements
19th August 2020
Insurance group, Tokio Marine HCC is set to leverage DocuSign eSignature and knowledge-based authentication (KBA) technology to verify the identities of individual signers. The move is expected to simplify the indemnity insurance agreements process by eliminating the need for notaries and physical paperwork. It will allow agents, brokers and their clients to ... Read the full article
Concirrus launches new submissions module for marine underwriting
18th August 2020
Insurtech company, Concirrus has announced the launch of a new submission module designed to help marine underwriters accelerate the digital assessment of new business. It is the latest in a series of releases by the firm aimed at providing a complete solution for digital insurance and algorithmic powered syndicates. Concirrus’ Product Director, ... Read the full article
Jupiter announces launch of ClimateScore Global
17th August 2020
Jupiter, a provider of predictive data and analytics for climate risk and resilience, has announced the launch of a climate risk analytics tool called ClimateScore Global. ClimateScore Global predicts future physical risk from flooding, extreme heat, high wind, drought, wildfire, hail, and earthquake. Its scope and granularity is designed to project how ... Read the full article
CyberCube updates its risk modelling platform for underwriters
17th August 2020
Cyber analytics provider, CyberCube has released an updated version of Account Manager, its cyber risk modelling platform used by insurers and reinsurers. Account Manager enables underwriters to better assess the cyber risk profile of individual risks on which they are being asked to quote. Enhanced risk modelling and analytics are essential to ... Read the full article
Role of re/insurers has “undoubtedly changed” in 2020: Munich Re’s Paul Donnelly
13th August 2020
The nature of re/insurers’ role has “undoubtedly changed” in the months following the global COVID-19 outbreak, says Paul Donnelly, Executive Vice President for EMEA at Munich Re Automation Solutions, the specialist insurtech subsidiary of the global reinsurer. Speaking in an interview with Reinsurance News, Donnelly noted that social distancing measures have ... Read the full article
Tesla opens insurance broker in China: reports
13th August 2020
Elon Musk-led automotive and energy giant Tesla has set up an insurance broker in Shanghai, China according to reports. Tesla has been public about its desire to leverage the high-value data its vehicles collect in order to create low-cost and attractive insurance products for its customers. “The amount of money that ... Read the full article