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 Roanoke partners with travel insurtech battleface

15th June 2020

Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with the travel insurtech startup battleface to launch product sales in the US. battleface offers travel insurance products and assistance to travelers using an API-driven platform. The arrangement with Roanoke is expected to enable the insurtech to offer ... Read the full article

Insurtech Bold Penguin adds AmTrust to exchange platform

15th June 2020

Commercial insurtech provider Bold Penguin has announced it will integrate workers' compensation insurance coverage from AmTrust Financial on its exchange platform. "As the largest commercial insurance exchange, we're laser-focused on connecting agents and carriers in record time," said Ilya Bodner, Founder and CEO of Bold Penguin. "Our integration with AmTrust will strengthen ... Read the full article

AI insurtech Planck raises $16mn, backed by Nationwide & HDI

12th June 2020

Artificial Intelligence (AI) data platform Planck has announced that it secured $16 million in its series B funding round, bringing its total investment amount to $28 million. The round was led by ​Team8 Capital​, with participation from all existing investors (Viola FinTech, Arbor Ventures, Eight Roads) alongside new strategic investor additions ... Read the full article

Flood forecasting insurtech Previsico targets US market

11th June 2020

Previsico, a SpinOut insurtech company from Loughborough University that specialises in flood modelling, has announced that it plans to target the US market, backed by funding from Innovate UK. The insurtech launched UK-wide in November 2019 to support insurers, brokers, and customers with live flood warnings, including uniquely for surface water ... Read the full article

Munich Re’s HSB launches online broker trading platform in Ireland

11th June 2020

HSB, the specialist engineering and technology insurance arm of Munich Re, has launched a new broker online trading platform in Ireland, called HSB Fast Track. HSB Fast Track e-trade platform will offer brokers in Ireland a suite of HSB products that includes Construction Annual, Construction Project, Contractors’ Plant, and Computer and ... Read the full article

Munich Re’s HSB backs new machine failure cover from Augury

10th June 2020

Munich Re member firm The Hartford Steam Boiler (HSB) has backed a new warranty offering by AI-based machine health solution provider Augury, which aims to minimise financial risk from industrial machine failures. The offering, called Guaranteed Diagnostics, combines with Augury’s Machine Health platform with a repair/replacement warranty that compensates customers in ... Read the full article

Lemonade files for NYSE IPO & reveals new reinsurance arrangements

9th June 2020

Insurance technology start-up Lemonade has announced plans for an initial public offering (IPO) of its common stock, while also revealing the arrangements of its new reinsurance program. The firm, which is backed by Japanese conglomerate SoftBank among others, filed a registration statement with the US Securities and Exchange Commission (SEC) to ... Read the full article

Up to 300% ROI for automation in London Markets: NTT DATA

9th June 2020

IT services and consultancy firm NTT DATA UK says automation could drive ROI of between 30% and 300% annually in London Markets, depending on the process. NTT DATA notes how the approval of claims can reduce the time taken from hours, to just minutes, meaning more claims can be processed in ... Read the full article

Lloyd’s to trial virtual underwriting room in COVID-19 response

1st June 2020

As part of its response to the COVID-19 pandemic, insurance and reinsurance marketplace Lloyd’s of London is planning to explore options for a “virtual” underwriting room. The idea is to add online elements that allow brokers and underwriters to connect in a similar way to the physical 1 Lime Street location ... Read the full article

AXA XL to launch digital construction platform

29th May 2020

AXA XL's North America Construction insurance business is set to launch an integrated digital platform that monitors and aggregates data to help contractor clients manage risks. The Construction Ecosystem will be made available to a number of current customers from June, with wider access planned for later in 2020. AXA XL claims ... Read the full article

Munich Re Specialty partners with Duck Creek on digital platform

27th May 2020

Munich Re Specialty Group (MRSG), a division of global reinsurer Munich Re, has partnered with Duck Creek Technologies to develop a digital offering via the Duck Creek OnDemand platform. OnDemand is Duck Creek’s end-to-end SaaS solution that provides services, support and computing resources for carriers. The platform includes Duck Creek Policy, Duck ... Read the full article

ClarionDoor announces launch of MGA Hub

26th May 2020

ClarionDoor, a provider of cloud-only, frontline insurance distribution solutions, has announced the launch of the ClarionDoor MGA Hub, in an effort to revolutionise MGA distribution. While offering insurers the ability to rapidly and expertly find markets for new products, ClarionDoor says MGAs have had the daunting challenge of working with technology ... Read the full article

Eos closes Strategic InsurTech Fund, welcomes Tokio Marine & Direct Line

22nd May 2020

Eos Venture Partners has announced the close of its Strategic InsurTech Fund, which, invests in global InsurTech companies while at the same time promoting and facilitating engagement between incumbents and emerging tech providers. Established in 2016, Eos has offices in London and Philadelphia, and operates as a global independent Strategic Venture ... Read the full article

Steven Haasz to lead European expansion at INSTANDA

22nd May 2020

Cloud-based digital insurance platform INSTANDA has announced the appointment of Steven Haasz as Partnerships and European Accounts Director to lead the business’ global expansion. Haasz brings 30 years’ experience in broad financial services, with previous roles including Managing Director at Prudential European, Chief Operating Officer (COO) at Chubb Europe, and Global ... Read the full article

Insurtech platform provider EIS launches in the UK

22nd May 2020

San Francisco-based insurtech EIS has launched its coretech platform in the UK to help insurers offer a new generation of insurance products and services. EIS’ platform is designed to help UK carriers rapidly create and deploy new and innovative products and services via open APIs. This allows insurance companies to operate seamlessly ... Read the full article

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