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.
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
Bold Penguin to acquire insurtech RiskGenius
7th October 2020
Commercial insurance technology provider, Bold Penguin, has announced that it has entered into a definitive agreement to acquire RiskGenius, a pioneer in insurance document intelligence software. The transaction sees RiskGenius's data and analytics products, alongside its team, join Bold Penguin's existing SaaS platform. Following the deal, RiskGenius is set to become part ... Read the full article
Auto insurtech Root registers for IPO
7th October 2020
Auto insurtech Root Insurance Company has filed a registration statement with the US Securities and Exchange Commission for an initial public offering (IPO) of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined, although the IPO documents ... Read the full article
HCI’s TypTap begins first phase of US expansion
6th October 2020
Florida insurtech insurer and subsidiary of HCI Group, TypTap Insurance Company, has launched Phase One of its planned nationwide expansion in the US, which the company first announced in early August. TypTap’s Phase One involves applying to state insurance regulators to write homeowners insurance in 20 states outside of Florida. The ... Read the full article
Insurtech Integrity Life secures $43mn in series B round
6th October 2020
Australian insurtech startup Integrity Life has announced a $43 million series B round of funding, raised before and during the COVID-19 pandemic. The majority of the capital came from institutional funds managed by Schroder Investment Management (Switzerland) AG, with support from existing institutional shareholders Leadenhall Capital Partners and Daido Life, and ... Read the full article
CLARA analytics adds Andrew Pinkes, Dave Hollander to board
5th October 2020
CLARA analytics, a provider of artificial intelligence technology in the commercial insurance industry, has appointed Andrew Pinkes and Dave Hollander to its board of directors. The company says the additions are in response to accelerated demand for its products over the past year. Pinkes brings over 29 years of experience in the ... Read the full article
Re/insurers must “truly embrace innovation” to succeed: James Harrison, Dun & Bradstreet
2nd October 2020
As the insurance and reinsurance industry continues to evolve at a rapid pace, companies need to be more proactive with investments in digital and advanced analytics, according to James Harrison, UKI Head of Insurance at global data and analytics firm, Dun & Bradstreet. Following the announcement of his new role ... Read the full article
Chaucer to implement Phinsys’ suite of data solutions
2nd October 2020
Finance automation software Phinsys has announced that Chaucer will be implementing its suite of products aimed at transforming finance function. Phinsys states that Chaucer opted for its services after a comprehensive proof of concept to validate the benefits that the platform will deliver, including the recently launched finance data dashboard. The ... Read the full article
Insurtech platform Insurwave secures £5mn funding
2nd October 2020
Commercial lines insurtech platform Insurwave has raised £5 million in funding to help drive continued growth. The fundraise was led by existing shareholders and will be invested in expanding the features of the platform. The Insurwave platform is designed to transform complex insurance processes to a digital-first experience, with features including parametric ... Read the full article
AGILE collaborates with location data expert HERE Technologies
30th September 2020
London-based MGA start-up AGILE Risk Partners has entered into a new partnership with HERE Technologies, a provider of mapping and location data situated in the Netherlands. The aim of the collaboration is to create a solution for third-party brokers and re/insurers that offers services for data cleansing asset schedules. AGILE hopes to ... Read the full article
ARC partners with insurtech Pula on agric index insurance products
29th September 2020
The African Risk Capacity Limited (ARC Ltd), a commercial subsidiary of African Risk Capacity Group (ARC Group), has signed a partnership agreement with Pula to help provide agriculture index insurance products to the continents' farmers. African farmers are exposed to a range of climate risks including drought, excessive rainfall, pests and ... Read the full article
Riskbook secures £2mn in new funding
28th September 2020
Reinsurance technology provider Riskbook has received a £2 million investment to help further develop its Lloyd’s-recognised digital placement platform. RiskBook was approved by Lloyd’s of London as a recognised electronic placement system for open market reinsurance business earlier this year. The announcement marked the first time that brokers from any firm could ... Read the full article
AM Best lifts Spinnaker from review following Hippo acquisition
25th September 2020
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Spinnaker Insurance Company. The outlook assigned to these Credit Ratings (ratings) is stable. Spinnaker was previously put under review after it was announced ... Read the full article
AXA XL launches IoT solution to monitor building health
25th September 2020
AXA XL, the property & casualty and specialty risk division of AXA, is accelerating the scaling of its new Digital Risk Engineer proposition designed to allow a company to monitor the “health” of its buildings and assets. Digital Risk Engineer will be available globally and uses Internet of Things (IoT) devices installed ... Read the full article
AmTrust joins Vertafore’s Commercial Submissions platform
25th September 2020
AmTrust Financial has announced that it has joined Vertafore’s Commercial Submissions platform, a platform that has been designed to transform commercial insurance. Vertafore is undertaking a task to improve market connectivity across the insurance distribution channel. It recently announced the first release of its Commercial Submissions platform to its carrier and ... Read the full article
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