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.
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
Demotech assigns ‘unsurpassed’ rating to Coefficient
9th October 2020
Financial analysis firm Demotech has awarded Coefficient Insurance Company a Financial Stability Rating of Aʺ, A Double Prime, Unsurpassed. Coefficient provides self-funded employers with a data-based approach to employer stop-loss. The company is a Verily subsidiary and is backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re ... Read the full article
Swiss Re CorSo to leverage insurtech Majesco’s digital platforms
9th October 2020
Swiss Re Corporate Solutions has implemented a series of solutions offered by cloud insurance software provider Majesco. The Swiss Re subsidiary opted to implement the Majesco Digital1st Insurance platform and Majesco Policy for P&C on Majesco CloudInsurer, to support initiatives in the Mexico retail market business. “Swiss Re Corporate Solutions had an ... Read the full article
JMP sees “rapid improvement” in insurtech loss ratios
8th October 2020
Analysts at JMP Securities have observed a “rapid improvement” in the loss ratios of several insurtech firms, who previously struggled in their earlier days. Over the longer-term, JMP is expecting to see an increasing number of insurtech companies show loss ratios at or below industry norms. At the same time, as these ... Read the full article
E&S digital wholesale platform Pathpoint launches
8th October 2020
Pathpoint, a San Francisco-based Excess & Surplus digital wholesale distributor, has announced its launch. The company has been built to connect retail agents and E&S carriers through its proprietary platform built to quote and bind Excess & Surplus lines coverage. With efficiencies gained from the technology, Pathpoint claims to distribute its products ... Read the full article
Munich Re Automation Solutions to invest €16mn in R&D program
8th October 2020
Dublin-based Munich Re Automation Solutions, a subsidiary of the global reinsurer, is set to invest roughly €16 million in a research & development program and transform it into a platform company The investment in Horizons, also based in Dublin, is supported by the Irish Government through IDA Ireland and will enable the ... Read the full article
Rideshare insurtech Buckle makes two senior appointments
7th October 2020
Rideshare insurance company Buckle has announced two new additions to its senior leadership team. Andrew Rear has been appointed Chairman of Buckle’s Board. He will continue working as Chief Executive Officer (CEO) of Digital Partners, a Munich Re company. Rear joined Munich Re in 2010, leading the Asia, Africa, and UK life ... Read the full article
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