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.
Munich Re-backed Sepio Systems hits $15mn in funding
27th March 2020
Global reinsurer Munich Re has acted as lead investor for Sepio Systems, a leader in Rogue Device Mitigation. Following the recent Series A round, Sepio secured an additional $4 million from Munich Re Ventures and Hanaco Ventures, which brings the total investment in the company to $15 million. Alongside the investment, Sepio ... Read the full article
FWD Philippines opts for digital solution from Pacific Life Re
26th March 2020
Pacific Life Re has announced a new partnership with FWD Philippines, which will see FWD adopt a digital solution from Pacific Life Re’s insurtech subsidiary, UnderwriteMe. The solutions was built on the Underwriting Rules Engine and is designed to enable a much shorter application process, while minimising the review time needed ... Read the full article
Tremor to launch weekly online ILW auctions
26th March 2020
Programmatic insurance and reinsurance risk transfer marketplace Tremor is set to open weekly online Industry Loss Warranty (ILW) auctions in an effort to ensure the market continues operating during the unfolding coronavirus pandemic. Auctions begin on April 2 and will leverage catastrophe loss estimates for the US, Canada, Japan, and the ... Read the full article
Manulife partners with digital health platform dacadoo
25th March 2020
Canadian multinational insurer Manulife has announced a collaboration with dacadoo, a Swiss-based digital health platform provider, to enhance its digital offerings in Asia. Under this new partnership, dacadoo will strengthen Manulife’s existing health engagement platform, ManulifeMOVE, to help customers understand their health and develop better habits. “We are delighted to be partnering ... Read the full article
Guy Carpenter partners with insurtech RiskGenius on silent cyber
25th March 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has entered into a strategic partnership with RiskGenius on the detection and qualitative analysis of silent cyber exposure. RiskGenius is an insurtech firm that utilises artificial intelligence to evaluate emerging risks across insurance portfolios. By working with RiskGenius, Guy Carpenter ... Read the full article
Flood insurtech Neptune expands US presence
24th March 2020
Neptune Flood Incorporated, a digital insurtech firm focused on the flood market, has announced its launch into Arkansas, Idaho and Illinois in the US. With its expansion into these states, a potential 6.7 million more households will now have access to Neptune’s flood insurance solution. The firm explained that it launched in ... Read the full article
Insurtech firm Sapiens partners with HazardHub
20th March 2020
Sapiens International Corporation, a global provider of software solutions for the re/insurance industry, has entered into a partnership with HazardHub, a third-generation provider of property-level hazard risk databases. As part of the agreement, HazardHub’s sets of risk data will be integrated into the Sapiens CoreSuite for Property & Casualty . This is ... Read the full article
Zurich partnership targets improved claims processing efficiency
19th March 2020
Global insurer Zurich is partnering with California-based data solutions provider Carpe Data to help improve claims processing efficiency. Zurich will leverage Carpe Data’s ClaimsX monitoring solution to use publicly available web data for real-time assessment and automated decision making. Through ClaimsX, Zurich is able to proactively audit injury claimants and identify cases ... Read the full article
Swiss Re partners with Microsoft on digital risk center
12th March 2020
Swiss Re has partnered with tech giant Microsoft on the launch of a Digital Market Center to help the re/insurance industry develop large-scale tools to predict and manage risks, and respond with new products. The Digital Market Center will draw on Microsoft’s Azure cloud technologies, as well as its internet of ... Read the full article
Insurtech Relay secures $3mn funding, launches placement platform
9th March 2020
After two years of development and testing with large participants, Toronto-headquartered insurtech Relay has released its first fully-fledged online Software-as-a-Service solution. The firm, which has also just recently secured $3 million in its latest funding round, says the platform is able to secure and track complex risk placements quickly and easily. The ... Read the full article
HCI Group posts $6.4mn Q4 net income
6th March 2020
Florida-based insurtech HCI Group has posted a $6.4 million net income for the fourth quarter, up from an $8.5 million net loss in the prior year quarter. Net income for the full year totaled $26.6 million, compared with $17.7 million in 2018. HCI says this increase for the full year was primarily ... Read the full article
Beazley selects Concirrus’ Quest Marine platform
5th March 2020
Specialist insurer Beazley has started leveraging Concirrus’ behaviour-based data analytics platform Quest Marine as an additional underwriting tool. Richard Young, Beazley’s head of hull and war, said the platform enables the company to examine its existing data in new and innovative ways build up a more detailed view of the risks ... Read the full article
Insurtech Next Insurance grows premium base, enters NY market
3rd March 2020
Next Insurance, the digital insurtech firm backed by Munich Re, has reported that its annual gross written premiums grew by more than three times over in 2019, bringing the company’s annual premium run rate to over $100 million. The firm also announced that it has been granted approval by the State ... Read the full article
Chaucer eyes more efficient underwriting service with Artificial Labs alliance
2nd March 2020
Specialist insurer and reinsurer Chaucer has partnered with London headquartered InsurTech firm, Artificial Labs, in an effort to provide a smarter and more efficient underwriting service to brokers and clients. Under the new partnership, Chaucer will deliver Artificial Labs' next generation underwriting platform for high-volume specialty solutions, enabling Chaucer to offer ... Read the full article
Liberty Mutual partners with Ford on connected vehicle insurance
2nd March 2020
Liberty Mutual Insurance has partnered with Ford to offer potential insurance discounts for customers driving Ford connected vehicles. This new agreement is part of Liberty Mutual's broader Mobility initiative, and will enable the evaluation of a customer's driving behaviour through FordPass Connect, thereby eliminating the need for a plug-in device. "Liberty is ... Read the full article
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