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.
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
Aon releases new platform for catastrophe data
24th September 2020
Re/insurance broker Aon plc has announced the release of a platform that will enable re/insurers to convert their catastrophe data into the Open Exposure Data format. Aon says the format will enable more vendor model choice and enable broader risk management insights. Due to 2020 being the costliest decade on record, economic ... Read the full article
Munich Re, Alphabet-backed insurtech Next secures $250mn in funding
24th September 2020
Next Insurance, the digital insurtech firm backed by Munich Re, has raised $250 million in a Series D financing round led by Alphabet's independent growth fund, CapitalG. Alphabet is the parent company of Google and several former Google subsidiaries. CapitalG Partner Sumiran Das will join the Next Insurance Board of Directors. Next Insurance ... Read the full article
Riskbook selects r10 as global implementation, integration partner
22nd September 2020
Reinsurance placement technology provider Riskbook is entering into a strategic partnership with r10 Consulting. Moving forward, r10 will be the preferred global implementation and integration partner for the Riskbook platform. The collaboration will see r10 support Riskbook and its clients in implementing the product suite from proof of concept stage through to enterprise-wide utilisation. Riskbook ... Read the full article
Insurtech FloodFlash launches expanded parametric product
22nd September 2020
Insurtech FloodFlash has launched the newest iteration of its commercial parametric flood insurance, FloodFlash+. FloodFlash+ sees policies underwritten by a panel of insurers and reinsurers and allows clients to select multiple sensors for a single site, cover multiple properties in a portfolio under a single policy, or include third party data from river ... Read the full article
Guy Carpenter partners with insurtech RiskGenius on silent cyber risk
17th September 2020
Guy Carpenter, the reinsurance arm of global broker Marsh, has established a partnership with insurtech RiskGenius to help evaluate potential silent cyber exposure. The partnership will provide clients with a means of assessing their silent cyber exposure at scale, while generating risk insights designed to support a greater understanding of silent ... Read the full article
Phinsys launches Inform, a new finance data dashboard
17th September 2020
Finance automation software provider Phinsys has announced the launch of Inform, a new finance data dashboard designed to allow insurers to aggregate their finance data and optimise it for accurate reporting and analysis. Phinsys says the dashboard enables finance and actuarial teams to see the granular data they need for individual ... Read the full article
Munich Re leads financing round for Indian insurtech startup
17th September 2020
It has been announced that Munich Re has led the financing round for an Indian insurtech startup, Acko. The startup, which is taking on India’s outdated insurance industry with a digital-first product that has already received backing from Amazon, today announced a new financing round. So far it has raised $60 million ... Read the full article
B3i announces major enhancements to reinsurance solution
16th September 2020
The Blockchain Insurance Industry Initiative (B3i) has released several major enhancements to its reinsurance solution B3i Re. Formerly the Cat XoL placement product, B3i Re includes significant technical accounting functionality and a number of feature requests from B3i’s customers. Features include treaty tower parameter enhancements; multicurrency capabilities; cedent broker approval transactions; enhanced treaty ... Read the full article
Lemonade set to enter France by end of 2020
15th September 2020
Insurtech startup Lemonade has named France as its next European market, following previous expansions into the Netherlands and Germany. The company is planning to make its new multi-risk insurance available in France by the end of 2020. Once launched, Lemonade says consumers in the country will be able to file claims and ... Read the full article
MS Amlin announces partnership with insurtech Allphins
11th September 2020
MS Amlin Underwriting Limited has entered into a service agreement with insurtech data analytics platform Allphins to support its exposure management capabilities. The agreement will see MS Amlin’s marine and energy reinsurance division use the Allphins platform to digitalise existing exposure data and access its specialist datasets and analysis tools. The re/insurer ... Read the full article
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