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.
Digitalisation is evolving the role of insurance, says Swiss Re
29th January 2020
Swiss Re’s latest Sigma report has highlighted the effect that growing granularity of insight into customer behaviour is having on the role of insurance. Insurance’s role, Swiss Re says, is evolving from indemnification of losses to a broader consultative service on risk prevention and mitigation covering both private and commercial clients’ ... Read the full article
CFC acquires London-based insurtech ThreatInformer
24th January 2020
Specialist insurer CFC has announced the acquisition of London-based insurtech ThreatInformer. ThreatInformer leverages big data and machine learning tools to help insurers better understand their customers’ exposures. The insurtech compiles readily-available information about their risk profile from a variety of external sources. CFC hopes to streamline and improve its underwriting process and uncover ... Read the full article
North P&I partners with insurtech Concirrus
24th January 2020
North P&I Club, the UK-based marine mutual liability re/insurer, has partnered with insurtech Concirrus as it looks to bolster its loss prevention and risk assessment capabilities. Concirrus platform Quest Marine P&I brings together billions of rows of dynamic marine and customer data into a single web application. Furthermore, the predictive risk modelling ... Read the full article
Markel & RenRe back new policy from AI start-up Cowbell Cyber
23rd January 2020
Reinsurers Markel Global Reinsurance Company and Renaissance Re Holdings are among a group of companies that have provided backing for a new policy from Cowbell Cyber, a start-up focused on AI-powered cyber insurance for SMEs. The policy, called Cowbell Prime 100, is designed to enable insurance agents to issue personalised cyber ... Read the full article
Indian insurtech Digit secures $84m from equity investors
23rd January 2020
Digit Insurance, an India-based insurance start-up backed by Fairfax Group, has secured regulatory approval to raise $84 million from three growth equity investors, bringing total investment to $224 million. Digit started its operations in October 2017 and has since expanded its distribution through direct channel partners such as e-commerce giants Policybazaar, ... Read the full article
The Institutes launches blockchain innovation hub
20th January 2020
The Institutes RiskStream Collaborative, the industry’s largest enterprise-level blockchain consortium, has created a new hub designed to accelerate innovation. 'RiskStream Labs' will serve as a resource for both member and nonmember organisations and will be dedicated to quickly vetting and advancing blockchain initiatives, specifically at the proof-of-concept phase. Headed by RiskStream Collaborative ... Read the full article
AXA-backed insurtech Sayata Labs adds King Flynn from Beazley
17th January 2020
Sayata Labs, an insurtech start-up focused on cyber risk assessment for insurers and SMBs, has appointed King Flynn as head of insurance. Flynn joins the Sayata executive team and will report to Chief Executive Officer, Asaf Lifshitz. As head of insurance, he will lead the company's growth and distribution strategy to deliver ... Read the full article
Berkshire Hathaway unit looks to AI with CLARA analytics deal
17th January 2020
Berkshire Hathaway Homestate Companies has selected CLARA analytics, a provider of artificial intelligence technology in the commercial insurance space, as it looks to advance its workers’ compensation claims operations. BHHC will integrate the full suite of CLARA products, including CLARA providers, CLARA litigation and CLARA claims as well as its popular ... Read the full article
Sompo releases travel insurance product in Thailand with Slice Labs
17th January 2020
Sompo Holdings (Asia), part of international insurer Sompo Holdings, has partnered with Slice Labs, an on-demand insurance platform, to release a joint travel insurance product in Thailand called TravelJoy. The product will include life and medical, flight delay/cancellation, and baggage/belongings coverage, and will be made available using the LINE LIFF Platform. “SOMPO’s ... Read the full article
SCOR automates financial processes with Accenture tech
15th January 2020
SCOR has improved the efficiency of its internal functions by utilising technology from professional services firm Accenture, which has enabled the reinsurer to automate financial processes, among other benefits. Previously, many of SCOR’s key processes within the finance function, including the quarterly-close process, were conducted manually, using spreadsheets, email and the ... Read the full article
Insurtech Corvus secures $32mn in venture funding
13th January 2020
Boston-based insurtech firm Corvus has secured $32 million in a Series B round of venture funding, led by Telstra Ventures. As part of the funding arrangement, Marcus Bartram, Partner at Telstra Ventures, will now join Corvus's Board of Directors. The funding round also included participation from Obvious Ventures and existing Corvus investors ... Read the full article
QOMPLX secures 12 US tech patents in 2019
10th January 2020
QOMPLX, an intelligent decision platform provider startup formerly known as Fractal, has announced that it was awarded 12 US patents for innovations in 2019. The patents, which span cybersecurity, insurance, finance and data infrastructure, allow QOMPLX a 20-year period of exclusivity to the technologies. The most recent patent, issued on December 24, ... Read the full article
Insurtech start-up fund Brewer Lane Ventures launches
10th January 2020
Brewer Lane Ventures, a fund focused on investing in insurtech start-ups, has announced its launch, and the appointment of key members of its team. The company was founded by John Kim, the former President and Chief Investment Officer at New York Life Insurance Company. Also joining Brewer Lane Ventures is Managing Partner ... Read the full article
Hiscox partners with Concirrus to drive digitalisation
8th January 2020
Hiscox London Market, one of the oldest Lloyd's of London syndicates, has entered into a partnership with InsurTech Concirrus in an effort to deliver progressive, analytics-based underwriting. Under the terms of this new multi-year deal, Hiscox is to embed Concirrus' behaviour-based data analytics platform, Quest Marine Hull. An announcement on the deal ... Read the full article
WTW & eBaoTech to provide one-stop insurance middle office platform
7th January 2020
Global re/insurance broker Willis Towers Watson (WTW) has entered into a new partnership with digital insurance solution provider, eBaoTech, to offer a bundled solution designed to accelerate digitisation across the industry. This new collaboration sees WTW's Radar Live rating engine integrate with eBaoTech's middle office platform, InsureMO, which is specifically designed ... Read the full article