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.
Auto start-up Clearcover raises further $50mn in funding
7th January 2020
Auto insurance start-up Clearcover has raised $50 million in a Series C round of funding, led by OMERS Ventures. This brings Clearcover’s total funding to more than $104 million since its 2016 founding, following a Series B round in January 2019 that raised $43 million. As part of the funding arrangement, Michael ... Read the full article
Finding new talent critical to advancing insurtech: EY
31st December 2019
Re/insurers agree that finding new talent is critical to build on investments in technology and digital transformation, but attracting and retaining will require better communication and more customer-centric approaches, according to analysts at EY. As part of a new report, EY noted that re/insurance industry growth had remained stagnant for another ... Read the full article
ZhongAn eyeing insurtech expansion in Asia, belt & road countries
30th December 2019
China’s largest online-only insurer ZhongAn sees as an abundance of opportunities to export insurance technology across Asia and various Belt and Road countries. Bill Song, Chief Executive Officer of ZA Tech Global Limited, an operating entity established by ZhongAn, has noted the firm’s strong track record in China in terms of ... Read the full article
Insurtech Neptune Flood adds Jean-Luc Eckstein as Executive Director
24th December 2019
Neptune Flood Incorporated, an insurtech firm focused on the flood market, has announced the appointment of Jean-Luc Eckstein as Executive Director. He joins Neptune Flood from CDW, a Fortune 500 technology solutions provider, where he served as International Client Strategy Manager, overseeing a team responsible for cross border technology sales. In his ... Read the full article
New tech unlocks opportunities for SME insurance: Goldman Sachs
16th December 2019
Technological developments are increasingly enabling large re/insurance companies to overcome challenges that had previously prevented them from making more inroads into the small commercial market (SME) space, according to Goldman Sachs. Analysts noted that the SME insurance marketplace is seen as an attractive segment for larger companies due to its more ... Read the full article
AXA XL partners with insurtech Slice, Microsoft on cyber solution
13th December 2019
AXA XL, the property and casualty and specialty risk unit of AXA, is partnering with cloud-based insurtech firm Slice Labs to help improve the cyber resilience of Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers. The collaboration, aimed at servicing small to medium sized businesses, will give ... Read the full article
CoreLogic integrates HOVER 3D tech into underwriting platform
10th December 2019
Property information and analytics provider CoreLogic has announced the integration of HOVER property measurement and 3D technology into its 'UnderwritingCenter' platform for insurance clients. Via the HOVER app users are able to send images of a property and receive accurate measurement, including the total living area down to the inch, as ... Read the full article
Liberty Mutual taps big data via new insurtech partnership
9th December 2019
Liberty Mutual’s National Insurance operation has announced that it plans to harness big data capabilities via a new partnership with Intellect SEEC, the insurance software division of fintech firm Intellect Design Arena. Through this relationship, Liberty Mutual underwriters and risk managers will gain automated access to thousands of third-party data sources, ... Read the full article
Re/insurance held back by innovation inertia, says expert panel
5th December 2019
Innovation represents a huge opportunity for the re/insurance industry, but has been held back by complacency and an “insidious form of inertia,” according to a panel of market experts. These comments came as part of a discussion on the direction and pace of innovation and technology in re/insurance at a recent ... Read the full article
Arch’s Aaron Woodhams joins iprism as underwriting manager
4th December 2019
Technology-driven underwriting agency iprism has announced the appointment of Aaron Woodhams to the newly created role of underwriting manager, effective immediately. Woodhams joins from Arch’s Lloyd’s Syndicate 2012 and brings over 20 years’ experience to the role. He will be responsible for leading iprism’s operational underwriting function, applying pricing strategy and managing ... Read the full article
Hyperion X opts for Reltio Cloud to enhance data capabilities
4th December 2019
Hyperion X, the data and technology focused unit of the global Hyperion Insurance Group, has selected software as a service (SaaS) provider Reltio Cloud as the core client data platform to power its data and analytics capabilities. The company believes Reltio Cloud will enable it to better personalise product and service ... Read the full article
SageSure names Paul VanderMarck as Chief Tech & Innovation Officer
3rd December 2019
SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of Paul VanderMarck as Chief Technology and Innovation Officer. In this role, VanderMarck will lead the teams responsible for SageSure's proprietary technology platform. He will also drive the company's broader innovation strategy, including developing partnerships with emerging ... Read the full article
Aspen’s Daniel Berry named Underwriting & Pricing Director, Coverly
2nd December 2019
Coverly, the pay-as-you-go InsurTech provider of on-demand insurance for small and medium sized enterprises, has appointed Aspen Risk Management Ltd.'s Daniel Berry as Underwriting and Pricing Director. Coverly launched in February and has since experienced significant growth, which is set to continue in 2020 with two new appointments. Berry brings 15 years ... Read the full article
The Hartford enhances Internet of Things Innovation Lab
28th November 2019
Property and casualty insurer The Hartford has expanded its Internet of Things (IoT) Innovation lab and capabilities to improve workplace safety and help reduce property damage. The company utilises network-connected devices in businesses and homes to reduce and mitigate hazards such as unsafe working conditions or water damage from broken pipes. For ... Read the full article
Hiscox expands partnership with insurtech INSTANDA
28th November 2019
Specialist re/insurer Hiscox has expanded its partnership with INSTANDA, the cloud-based digital insurance platform. This enhanced partnership is designed to build critical distribution through the deployment of the INSTANDA platform and has been extended to manage both direct-to-consumer and broker products in four countries. This announcement follows the successful launch of Hiscox’s ... Read the full article