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.
Re/insurance and insurtech focused RB Ventures launches in Dubai
19th August 2024
Venture capital firm RB Ventures has launched in Dubai established by Rohit Boda, Managing Director at India-headquartered re/insurance broker J.B. Boda Group. RB Ventures will facilitate venture capital investments into re/insurance, insurtechs and other related sectors while providing deal related services. The company aims to bridge the capital gap by offering opportunities ... Read the full article
Sprout, Britam, and LM Re launch parametric insurance for Kenyan coffee farmers
13th August 2024
Liberty Mutual Reinsurance (LM Re), a division of Liberty Mutual Insurance Group, has announced a new collaboration with Insurtech firm Sprout, Inc. and Britam, a financial services company serving as the local underwriter. Together, they are introducing a parametric insurance product aimed at safeguarding Kenyan coffee farmers from financial losses caused ... Read the full article
Embroker names Andrew Lea as CIO, Kristy Malm promoted to COO
8th August 2024
Digital insurance company Embroker has appointed Andrew (Andy) Lea as Chief Insurance Officer (CIO) and promoted Kristy Malm as Chief Operating Officer (COO). The firm stated these appointments follow a series of significant milestones for Embroker, including two major product announcements and the launch of a new distribution channel for broker ... Read the full article
Janover’s new insurtech platform hits profitability and boosts revenue by 60% in May
7th August 2024
Janover Inc., a provider of AI-powered solutions for commercial real estate transactions, has recently shared an update on its insurtech subsidiary, Janover Insurance Group. Launched in March 2024, Janover Insurance achieved profitability by May 2024. During that period, its monthly recurring revenue increased by more than 60% compared ... Read the full article
Ledger Investing launches new ILS subsidiaries, Fermat to manage casualty ILS funds
6th August 2024
Ledger Investing, an insurtech and insurance-linked securities (ILS) focused venture-backed company, has expanded its casualty ILS capabilities with the launch of two new Cayman-based subsidiaries. The firm has created Ledger Re SPC as a reinsurer that aims to provide institutional investors access to casualty ILS, and Ledger ILS Services, as a ... Read the full article
wefox completes two transactions to exit the German insurance market
2nd August 2024
InsurTech wefox has successfully completed two transactions to exit the German insurance market, aligning with the company's strategy to focus on profitable market positions of critical size If you recall, wefox's plans to exit the German market were announced in early July. It was revealed that wefox will only focus on ... Read the full article
Insurtech funding shifts to $1.27bn in Q2, highest level since Q1’23: Gallagher Re
1st August 2024
The global Insurtech sector witnessed a significant rise in funding throughout the second quarter of 2024, amounting to US $1.27 billion, marking the highest levels of funding seen since the first quarter of 2023, according to latest findings unveiled by reinsurer Gallagher Re. Q2 2024 saw AI-centred Insurtechs obtain a grand ... Read the full article
InsuranceDekho enters India’s reinsurance broking sector with composite licence
29th July 2024
India-based insurtech InsuranceDekho has received a composite insurance broking licence from the Insurance Regulatory and Development Authority of India, allowing the firm to offer reinsurance broking in addition to its insurance broking services. InsuranceDekho intends to add value in this segment by placing a portion of insurance risk of an insurance ... Read the full article
Insurtech funding in LatAm falls to historic low at $26m in H124
16th July 2024
Insurtech funding in Latin America (LatAm) fell to a historic low of $26 million during the first half of 2024, marking a 78% decline from the same period in 2023. Looking at the period between July 2023 - June 2024, inclusively, the total rose to $43 million, marking the lowest figure ... Read the full article
AutoRek partners with J.P. Morgan Payments to enhance insurance premium processing
5th July 2024
AutoRek, an insurtech company, has announced a collaboration with J.P. Morgan Payments, a division of J.P. Morgan, a global financial institution, to assist insurance firms in navigating data complexities and exploring new market opportunities. AutoRek's solution enhances financial data flows from banking sources, aiding in cash allocation, matching, and credit control. This ... Read the full article
Lexasure and OneDegree launch cyber insurance for South/Southeast Asia
3rd July 2024
Lexasure Financial Group Limited (Lexasure), specialising in reinsurance, insurance, and insurtech solutions across South and Southeast Asia, joins forces with OneDegree Global (ODG), the technology division of OneDegree Group renowned for its IXT insurtech solutions and Cymetrics cybersecurity services. They revealed a joint cyber insurance solution at the ITC Asia conference ... Read the full article
InsurX welcomes new hires to meet growing algorithmic underwriting demand
1st July 2024
InsurX, a digital exchange with algorithmic capacity, has announced the appointment of four new hires to its team to meet burgeoning demand from brokers and underwriters for algorithmic underwriting. Appointed Divisional Director, David Dickson brings 12 years of broking and Lloyd’s experience to his new role. He most recently served as ... Read the full article
IBISA raises $3m to expand parametric insurance offering in Asia & Africa
25th June 2024
IBISA, the global climate insurtech, has successfully closed a $3 million funding round, with the proceeds set to go towards scaling its parametric insurance solutions for weather-related risks in Asia and Africa. The round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, alongside the Asian Development Bank Ventures ... Read the full article
FloodFlash expands coverage to all mainland US locations
24th June 2024
FloodFlash, the parametric flood insurance provider with sensor technology, has expanded its coverage to all mainland US locations. The company is known for offering flood insurance that exceeds the National Flood Insurance Programme (NFIP) in areas where private markets cannot provide quotes, especially in sectors like real estate, sports and entertainment, ... Read the full article
Insurtech Counterpart names Muglia Professional Liability Insurance Lead
24th June 2024
Counterpart, a management and professional liability insurtech backed by Markel, Aspen, and Westfield, has announced the appointment of industry veteran, Michael Muglia, as its Professional Liability Insurance Lead. In addition, Counterpart also announced the promotion of three of its longest-standing team members as Territory Leads: Brad Bahler, Satwik Mysore and Jake ... 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.
