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 backs new motor insurtech by Sun Capital & former Aviva CEO
25th February 2021
Reinsurer Munich Re has agreed to back the launch of a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson. The insurtech firm, called Abacai, will initially focus on the UK motor insurance market and will invest an initial £50m in the ... Read the full article
Marsh partners with Unqork on placement, policy management platform
24th February 2021
Re/insurance broker Marsh has partnered with software firm Unqork on a new digital platform designed to streamline insurance placement and policy management services in the US. The platform will aim to create a digital workspace where Marsh's brokers and the insurers they work with can quickly perform key placement and policy ... Read the full article
Volante Global launches cyber ransomware solution
24th February 2021
International managing general agent platform Volante Global has announced the launch of a new cyber ransomware solution designed to combine ransomware cover with the latest in cyber security technology. At the core of Cyber Lockout is a multi-layered cyber security solution called Trident Lockdown, provided by GBMS Tech, which is built ... Read the full article
WTW, Liberty Specialty launch reputational crisis insurance solution
22nd February 2021
Re/insurance broker Willis Towers Watson has launched a solution designed to enable organisations to transfer the financial risk associated with certain types of reputational crises. The broker’s Reputational Crisis Insurance also provides access to a range of non-insurance capabilities, including AI-powered data analysis. The solution has been developed through a partnership with ... Read the full article
Kin Insurances reaches $10bn insured property value
19th February 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has surpassed $10 billion in total insured property value. The company saw a 400% increase in direct written premiums in Q4 2020 over the previous year, and enjoyed a 92% renewal acceptance rate. “Kin’s growth is evidence ... Read the full article
Insurance Europe warns of AI coverage challenges
17th February 2021
European insurance and reinsurance federation, Insurance Europe, has warned that changes to the existing liability framework for emerging technologies, such as artificial intelligence (AI), could result in challenging insurability issues. Insurance Europe supports the use of AI for exploring ways to more accurately forecast risk and develop new products, and also ... Read the full article
Lemonade launches life insurance using Bestow platform
10th February 2021
Insurtech firm Lemonade has announced that it will power its recently launched life insurance offering with the Protect API platform from Bestow, a digital life insurance company. Using Bestow’s platform, Lemonade customers can apply for instant insurance online using Lemonade’s website and apps. Customers are underwritten in real-time, using third-party data to ... Read the full article
Rebranded Supercede launches reinsurance trading platform
10th February 2021
Technology provider Riskbook has rebranded itself as Supercede to launch a data-driven global trading platform specifically created for the reinsurance sector. The platform aims to provide a free-to-use, independent reinsurance market with built-in analytics services. Supercede believes it will enable reinsurers to gain access to more risks and data, while brokers can ... Read the full article
WhenFresh & Ambiental partner on UK flood data
10th February 2021
Data supplier WhenFresh has partnered with Ambiental Risk Analytics, a specialist in environmental hazard intelligence, predictive analytics and risk management, to make Ambiental’s flood risk data available to UK re/insurers. WhenFresh already supplies data to many leading UK insurers, but will now be able to provide access to Ambiental’s UK FloodMap ... Read the full article
COVID spurred digital push in re/insurance: Willis Re’s Andrew Johnston
5th February 2021
With 2020 closing as the biggest year to date in insurtech funding, Willis Re’s Andrew Johnston has said that the COVID-19 pandemic pushed the re/insurance industry to digitize in a way that “no other imperative or initiative” could have. Johnston, who serves as Global Head of Insurtech at Willis Re, the ... Read the full article
HSCM leads $30mn investment in DealerPolicy marketplace
5th February 2021
DealerPolicy, an insurance marketplace for automotive retail, has raised $30 million of funding in a Series B round led by 3L Capital and Hudson Structured Capital Management Ltd., doing its re/insurance business as HSCM Bermuda Management Company. The company plans to use the funding for the continued development of its insurance ... Read the full article
Insurtech Cytora adds AXA XL’s Kelly Lyles to advisory board
4th February 2021
UK insurtech Cytora has appointed Kelly Lyles to its advisory board in an effort to drive its expansion into the commercial insurance market. Lyles previously served at AXA XL as Chief Executive Officer, Country Management. She brings 35 years’ experience in underwriting and general management in global commercial insurance and previously spent ... Read the full article
Convex partners with Praedicat on emerging liability risks
3rd February 2021
International specialty re/insurer Convex Group Limited has partnered with Praedicat, a risk analytics company specialising in emerging liability risks, to help identify, underwriting and manage complex casualty risks. Praedicat’s AI technology mines global peer-reviewed scientific literature to identify hazards with the potential to develop into drivers of mass tort litigation before ... Read the full article
Swiss Re partnership targets breakthrough in life insurance underwriting
2nd February 2021
Swiss Re is partnering with health data specialist Diameter Health on a scalable solution that leverages electronic clinical health data for life insurance underwriting. It’s hoped the partnership will transform complex clinical electronic health data into organised, usable information thus accelerating Swiss Re’s efforts to help life insurers improve the speed ... Read the full article
Pana Harrison to outsource digital platform InsureGuru
2nd February 2021
Singapore headquartered re/insurance broker Pana Harrison is set to outsource the digital distribution platform InsureGuru. InsureGuru is a Singapore-registered FinTech company designed to take the complexity out of purchasing insurance by allowing policy statuses to be checked online any time with expiry reminders. It’s hoped that together, Pana Harrison and InsureGuru can ... Read the full article
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