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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.

Concirrus collab targets automated fleet risk management

11th July 2019

London-based insurtech Concirrus is partnering with connected camera specialists SureCam and is planning to integrate their technology into its data analytics platform Quest Fleet. It’s hoped the move will provide new insights and enable fleets to automate risk management processes, prioritise driver coaching effectively and optimise First Notification of Loss. This ... Read the full article

Lloyd’s eyes improved insurance contracts for customers

8th July 2019

Lloyd’s has announced the launch of Contract Confidence, a tool which leverages advanced search techniques to scan contracts and check for errors and discrepancies. For example, the tool is able to run checks against 1,400 open market rules and highlight where the contract has failed or may fail a check. It also ... Read the full article

African re/insurer Klapton adopts software from Eurobase

5th July 2019

Eurobase International Group, an international software and service provider to financial institutions, has announced that Klapton has selected its Synergy2 platform to support its operations. Klapton, a re/insurer registered in the Autonomous Island of Anjouan, Union of Comoros, said it identified Synergy2 as the best solution to support its operational efficiency ... Read the full article

Lloyd’s Lab insurtech ClauseMatch reveals findings of 10-week pilot

5th July 2019

Lloyd’s Lab, the innovation accelerator launched last year by the Lloyd’s market, has revealed the findings of insurtech ClauseMatch following the completion of its 10-week long pilot project. ClauseMatch, a software technology company that enables financial institutions to comply with internal corporate governance documentation, was required to use state-of-the-art technology to ... Read the full article

INSTANDA targets speed & efficiency with MGA start-up service, IMGA

1st July 2019

Cloud-based digital insurance platform, INSTANDA, has announced the establishment and launch of an MGA start-up service, IMGA. IMGA is designed to provide all the technical capabilities to both manage and run a new MGA, including product distribution, submission management, policy management, renewals, and first notice of loss (FNOL) processing. Speed and efficiency ... Read the full article

Aon & Oxfam launch blockchain-based insurance for farmers in Sri Lanka

1st July 2019

Re/insurance broker Aon has partnered with Oxfam and insurtech firm Etherisc to launch a blockchain-based insurance platform for smallholder farmers in Sri Lanka. Nearly 200 farmers have been enrolled in the solution, which aims to deliver micro-insurance for paddy field farmers who are at risk of losing their crops due to ... Read the full article

Allianz partners with insurtech firm Wrisk to digitalise UK auto products

27th June 2019

Allianz Partners has announced a new partnership with UK-based insurtech firm Wrisk that will help to digitalise the products offered by Allianz Automotive, the business line that focuses on the needs of car manufacturer’s customers. The objective of the partnership is to jointly offer new automotive insurance products on Wrisk’s mobile ... Read the full article

Insurtech Tensorflight closes $2m funding round

26th June 2019

Insurtech startup Tensorflight has closed a $2 million round of funding as the company looks to scale its computer vision risk assessment service for commercial property insurers. The round was led by ff Venture Capital, Hudson Structured Capital Management, Nephila, Hemi Ventures, and other investors. Tensorflight uses geospatial imagery, building records, and ... Read the full article

HSCM Bermuda, White Mountains latest to invest in auto-focused insurtech Noblr

24th June 2019

HSCM Bermuda Management Company, an insurance-linked securities (ILS), reinsurance and transportation investment manager, has in collaboration with White Mountains Capital and TPRE Reinsurance invested in auto-focused insurtech firm Noblr. Noblr, who was recently invested in by hedge fund-backed reinsurer Third Point Re, offers an insurance product designed to reward automobile ... Read the full article

Third Point Re invests in driver-focused insurtech Noblr

20th June 2019

Hedge fund-backed reinsurer Third Point Re has entered into a partnership with insurtech firm Noblr through a combination of a minority equity investment and reinsurance. Noblr offers an insurance producted designed to reward drivers for making smart decisions, leveraging telematics data, actuarial insight, and product design to offer feedback and real-time ... Read the full article

Blockchain insurtech ChainThat joins the BMA’s Innovation Hub

19th June 2019

ChainThat, a specialist provider of blockchain solutions for the re/insurance industry, has been approved as the first company to join the Bermuda Monetary Authority’s (BMA) Innovation Hub. The Bermudian regulator launched the Innovation Hub initiative in April 2018, providing insurtech firms with the ability to share ideas and information with BMA ... Read the full article

Munich Re backs French satellite imagery home insurer, Luko

18th June 2019

Global reinsurance giant Munich Re has partnered with French InsurTech Luko on the launch of its artificial intelligence (AI) driven satellite imagery home insurance. Luko describes itself as France's first neo insurance, and since the AI powered InsurTech launched roughly one year ago, it's already attracted 10,000 customers in France and, ... Read the full article

Argo adopts new tech from AVYST to simplify distribution process

17th June 2019

Specialty re/insurer Argo Group International Holdings, Ltd has adopted technology from insurtech firm AVYST to improve the efficiency of its retail distribution processes. AVYST’s bi-directional forms system, eForms Wizard, enables clients and brokers to enter risk details just once, at the source, for automatic processing by Argo. By using this technology, Argo ... Read the full article

AI will help automate bespoke policies: Lloyd’s Trevor Maynard

17th June 2019

Artificial intelligence (AI) will create some “interesting possibilities” in terms of automating how the insurance market delivers bespoke products, according to Trevor Maynard, Head of Innovation at Lloyd’s. Speaking at the MMC Rising Professionals’ Global Forum in London last week, Maynard addressed the “wave of technology” currently sweeping across the market, ... Read the full article

ACORD to launch global data exchange service for re/insurers

13th June 2019

ACORD, the international standard-setting body for the re/insurance industry, has announced the launch of a global data exchange service called ACORD iConductor. The service is designed to operationalise the industry-backed ACORD Standards to transform, orchestrate and validate all bureau and non-bureau messaging data. Using APIs and new digital technology, it should enable ... Read the full article

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