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.
Brown & Brown acquires InsurTech CoverHound
10th November 2020
A subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of InsurTech firm CoverHound, a digital insurance marketplace for both individuals and small businesses. The deal has been announced by J. Scott Penny, Brown & Brown's Chief Acquisitions Officer and Keith Moore, Chief Executive Officer (CEO) of ... Read the full article
Lloyds Bank & Previsico partner on flood resilience
10th November 2020
Live flood forecasting insurtech firm Previsico has announced that it will join the Launch Innovation Lab, powered by Lloyds Banking Group, to develop solutions for flood resilience. Together, Previsico and Lloyds will work to develop a solution for Lloyds home insurance customers, against a backdrop of increasingly severe and frequent flood ... Read the full article
Tencent applying for reinsurance license in China: Report
28th October 2020
Giant Chinese technology conglomerate and fintech company Tencent is applying for a license to operate a reinsurance entity in China, according to reports in local media. It's a natural step for the company which has already expanded successfully into direct to consumer insurance business. Tencent has leveraged its deep connections with customers ... Read the full article
Insurtech fundraising hits $2.5bn in Q3: WTW
28th October 2020
Re/insurance broker Willis Towers Watson (WTW) has reported that insurtech firms raised a total of $2.5 billion across 104 deals during the third quarter of 2020. The total value raised was 63% higher than in the previous quarter, while the number of deals increased by 41%, according to the new Quarterly ... Read the full article
Insurtech Ladder expands reinsurance relationships with PartnerRe alliance
27th October 2020
Bermuda-based reinsurance company, PartnerRe, has entered into a new partnership with life insurance focused insurtech, Ladder. Ladder was established in 2015 and offers technology-driven insurance solutions designed to meet the demands of today’s consumers. By focusing on speed, ease, and affordability, the company looks to reinvent life insurance to be both ... Read the full article
Tokio Marine reveals participation in Lemonade’s reinsurance program
27th October 2020
Tokio Marine Holdings has announced its participation in the reinsurance program of insurtech firm Lemonade, in what it views as the first step towards a larger strategic partnership. The company has been a participant in the reinsurance program since July 1st 2020, which was around the same time that Lemonade ... Read the full article
AM Best assigns strong credit ratings to Swiss Re-backed Coefficient
26th October 2020
AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” to Coefficient Insurance Company. The outlook assigned to these ratings is stable. Coefficient, a Verily subsidiary focused on employer stop-loss, is backed by Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant ... Read the full article
Swiss Re backs parametric quake product by Cover Genius & QuickBooks
23rd October 2020
Insurtech firm Cover Genius has teamed up with Intuit to offer a new parametric earthquake policy, which is backed by capacity from Swiss Re and underwritten by Palomar Excess and Surplus Insurance Company. Cover Genius intends to offer a range of insurance products to customers using QuickBooks, an accounting software package ... Read the full article
Deep learning reinsurance startup Kettle announces seed financing round
23rd October 2020
Reinsurance startup Kettle has announced its seed financing round. The $4.71 million round was led by True Ventures, with participation from Acrew Capital, Homebrew Ventures, Anthemis, and Inspired Capital. Founded by Andrew Engler and Nathaniel Manning, Kettle is structured as a reinsurance company that can underwrite risks that are on the ... Read the full article
SageSure launches commercial insurance products for coastal businesses
21st October 2020
Insurtech company SageSure has announced the availability of a new line of commercial insurance products in underserved coastal markets. SageSure's new solutions will be launching in South Carolina followed by Florida, where its commercial product line will provide cover for over 300 classes of business in six industry groups, including office, ... Read the full article
Hannover Re US, insurtech Ladder announce partnership growth
21st October 2020
Hannover Re US and insurtech Ladder are to work together in a new and expanded partnership, having first collaborated in 2016. Ladder offers technology-driven insurance solutions designed to meets the demands of today’s consumers. Hannover Re US has provided support in the form of risk management solutions, accelerated underwriting consultation and outsourced ... Read the full article
MAPFRE partners with insurtech Shift on customer claims experience
20th October 2020
MAPFRE is set to create a new claims process supported by technology from claims automation firm Shift. The Spanish insurer will leverage Shift’s end-to-end claims automation solution in an effort to deliver a more friendly and transparent experience for clients. Shift has joined MAPFRE's startup engagement program insur_space and over the coming ... Read the full article
Munich Re backed bsurance develops digital insurance solution for kika/Leiner
20th October 2020
Munich Re backed Austrian InsurTech start-up, bsurance, has developed a digital insurance solution for kika/Leiner's furniture stores. The new solution is designed to enable customers to take out extended warranty insurance directly upon purchasing electrical appliances. bsurance worked closely with kika/Leiner to tailor the insurance product to their customer needs. UNIQA ... Read the full article
InsurTech startups need to learn from previous mistakes: Convergence 2020
20th October 2020
In a virtually held 2020 ILS Bermuda Convergence event, Insurtech became the main focus on a panel featuring Lyndsey Toeppen, Former Vice-President, Sandbox Insurtech Ventures and Adrian Jones, Deputy CEO, P&C Partners, Ventures & Strategic Partnerships, SCOR. The question of what it takes for an InsurTech to be successful will be ... Read the full article
Hippo adds former Marsh CFO to Board
20th October 2020
Hippo, a California-based insurtech focused on US home insurance, has announced the addition of Sandra Wijnberg to its Board of Directors. Wijnberg was previously the Chief Financial Officer (CFO) of Marsh & McLennan Companies, and also worked as a Partner, Chief Administrative Officer and member of the Board of Aquiline Holdings. At ... 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.
