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.
BrokerTech Ventures launches $34 million BrokerTech Fund
4th May 2023
BrokerTech Ventures (BTV) has partnered with ManchesterStory Group to launch the BrokerTech Fund, LP, a venture capital fund focused on early-stage insurtech companies developing broker-centric technology solutions. ManchesterStory, the Fund's General Partner, is an early-stage venture capital firm that manages more than $225 million in committed capital across multiple funds focused ... Read the full article
Global InsurTech funding rises by 37.6% in Q1 2023: Gallagher Re
4th May 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter's lowest total since Q1 2020. While the deal count remained steady, the average deal ... Read the full article
Munich Re launches ‘innovative’ coverage for AI solutions
28th April 2023
Munich Re has launched aiSelf™, an "innovative" coverage for users who implement self-developed Artificial Intelligence (AI) solutions in their own companies. "This new cover enables you to mitigate the underperformance, unreliability and drift of machine learning models," Munich Re said. Munich Re provides insurance coverage to protect companies from potential financial losses ... Read the full article
Insurtech Ledgebrook raises $4.6m in funding
26th April 2023
Ledgebrook, an insurtech managing general agent (MGA) for wholesale brokers, has announced it has raised a $4.6m round of funding. The Boston-based company intends to use these funds to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings. It is also looking to build ... Read the full article
Swiss Re partners with insurtech Benekiva on digital claims management
25th April 2023
Swiss Re Reinsurance Solutions has formed a strategic partnership with Des Moines-based insurtech Benekiva to develop an integrated claims management platform. The partnership will aim to combine Benekiva's claims administration system with Swiss Re's Claims Automated Rules Engine and expertise in risk management. The Integrated Claims Management Platform will support digital claims ... Read the full article
ZestyAI rolls out analytics solution for convective storms
25th April 2023
Climate and property risk analytics provider ZestyAI has announced that severe convective storms have joined the list of perils addressed by the its risk analytics platform. The company claims that Z-HAIL and Z-WIND are the first AI models to give carriers hail and wind risk assessment that can be used in ... Read the full article
Insurity launches cloud-based underwriting software to the London market
19th April 2023
Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has announced the launching of its Sure Underwriting Workbench in the London market. The software’s low code, configurable rules engine will enable London market carriers, MGAs, syndicates, and brokers to focus more on risk assessment and less on routine ... Read the full article
IAG unit invests in Planck for its underwriting automation operations
14th April 2023
IAG's corporate venture capital arm, IAG Firemark Ventures, has invested in global insurtech platform Planck in a bid to expand into the Australian and New Zealand commercial insurance market. Planck provides real-time answers to underwriting questions for the global commercial insurance industry and IAG said this "technology could potentially be embedded ... Read the full article
Wakam restructures leadership by appointing Catherine Charrier-Leflaive as CEO
13th April 2023
French digital B2B2C insurer Wakam has unveiled a revamped governance structure by appointing Catherine Charrier-Leflaive as CEO, and Olivier Jaillon as Chairman of the Board of Directors. The duo both possess a significant track record within the insurance industry, and both share the same vision for more transparent and impactful insurance. Charrier-Leflaive joined ... Read the full article
Insurtech Blink Parametric launches flight disruption solution in US
11th April 2023
Blink Parametric has expanded its partnership with MGA AwayCare to provide a real-time flight disruption solution to US travellers worldwide. AwayCare led the initiative to provide its Flight Delay service to US-based Travel Insured International (TII). TII will make the AwayCare Flight Delay service, managed by Blink Parametric, available within select plans ... Read the full article
Arch Insurance acquires insurtech Thimble
11th April 2023
Arch Insurance has expanded its suite of digital solutions with the acquisition of Thimble, an insurtech platform for small business customers and agents. Since May 2018, Thimble has delivered more than 170,000 policies to small businesses across the United States, and works with a variety of carriers including Markel and Employers. Following ... Read the full article
PPL Next Gen platform rolls out fully after successful trial
3rd April 2023
PPL Next Gen, the new version of the London insurance market’s electronic trading platform, has been opened to placements for the entire market following four weeks of limited access while market firms completed training and preparation activities. During this time, the platform was also tested to ensure any “teething issues” ... Read the full article
Lloyd’s Lab reveals insurtechs for Europe-focused cohort
29th March 2023
Re/insurance marketplace Lloyd’s has announced the 13 insurtech firms set to join the 10th cohort of its innovation hub, the Lloyd’s Lab, which will include a focus on the European market this time around. For this cohort, the insurtechs were selected based on solutions geared towards three themes: European Digital and ... Read the full article
AdvantageGo & Zywave partner to improve underwriter decisions
24th March 2023
AdvantageGo, a leading commercial re/insurance software provider, and InsurTech provider Zywave, have announced a new strategic alliance. The expanded relationship between the two firms will heavily centre on the integration of Zywave’s rating and distribution product, ClarionDoor, and AdvantageGo´s Underwriting workbench to help improve underwriter decision-making. Zywave joins AdvantageGo’s Escosystem, a group ... Read the full article
Tech MGA elseco strengthens space team with new appointments
24th March 2023
Tech specialist MGA elseco has bolstered its leadership, risk analysis, and modelling capabilities within its space insurance team, naming Laurent Esquirol as Group Space Risks Technical Director and Ludovic Arnoux as Client Advocate and Launch System Technical Advisor. elseco notes that despite employing the largest space underwriting team in the market, it ... Read the full article