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.
London Market under threat from tech savvy competition: NTT DATA UK
25th November 2019
The London Market is ready to embrace technological change and innovation, but there are concerns that the market could fall behind more technologically capable competition, according to research from NTT DATA UK. Based on a survey of 100 individuals, ranging from brokers to managing agents and syndicates, NTT DATA UK reported ... Read the full article
Insurtech Gateway secures £2.5mn in funding, led by Moxley Holdings
21st November 2019
Insurtech Gateway, an independent insurtech incubator authorised by the FCA, has secured £2.5 million in a funding round led by data-driven investor Moxley Holdings. The funding will allow the Gateway incubator to continue supporting early-stage insurtech founders, and help to grow its portfolio from 10 to 30 companies over the next ... Read the full article
Munich Re-backed Vouch Insurance raises $45mn in funding
21st November 2019
Vouch Insurance, a platform backed by Munich Re that offers business insurance for start-ups, has secured $45 million of funding in a Series B investment round, led by Y Combinator Continuity. At the same time, Vouch has announced its launch in California, following its initial authorisation in Utah and Illinois ... Read the full article
Aon set to acquire SME insurtech platform CoverWallet
20th November 2019
Global re/insurance brokerage Aon has announced that it has entered into an agreement to acquire CoverWallet, a digital insurance platform for small to medium-sized businesses (SMEs). Aon previously made a strategic investment into the insurtech back in May 2019, and the firms agreed to work together in the SME space ... Read the full article
Munich Re-backed start-up Next Insurance hires execs from Fitbit & Yelp
20th November 2019
Next Insurance, the digital insurtech firm backed by Munich Re, has announced the appointments of former Fitbit executive Melanie Chase as Chief Marketing Officer and former Yelp executive Effi Fuks Leichtag as Chief Product Officer. Next Insurance provides digital small business insurance coverage across the US to over 1,000 types of ... Read the full article
Homeowners sector increasingly targeting insurtech efficiencies: AM Best
19th November 2019
Companies in the US homeowners market are increasingly relying on insurtech to boost efficiency and agility in the face of challenging market dynamics, according to analysts at AM Best. Analysts observed that effective use of technology in this sector has helped to lower transaction costs and expand access to customers. The cost ... Read the full article
Flood insurtech Neptune files patent for Triton technology
19th November 2019
Neptune Flood, an all-digital flood platform that leverages data analytics to provide agents and direct buyers the ability to rapidly quote and bind a policy, has filed a patent application for its Triton technology. Triton powers Neptune’s residential flood insurance product’s ability to executive a series of risk, pricing, disaggregation and ... Read the full article
Re/insurers face “structural shift” as customer demand evolves: WITR report
18th November 2019
The re/insurance industry is facing a “structural shift” in which effective collaboration with insurtech firms will be essential to meet changing customer expectations, according to the World Insurtech Report 2019 (WITR). The report, published by Capgemini and Efma, outlined the potential for a new insurance ecosystem with an open marketplace, based ... Read the full article
Duck Creek partnership targets telematic solutions for P&C insurers
15th November 2019
Duck Creek Technologies, a global provider of P&C industry insurance software, is partnering with mobile telematics and analytics firm Cambridge Mobile Telematics. The partnership is aimed at allowing Duck Creek’s customers to rapidly deploy mobile telematics-based business strategies into their business. Insurers will be able to create connected insurance business models such ... Read the full article
Flood forecasting insurtech Previsico launches in UK
14th November 2019
Previsico, a SpinOut insurtech company from Loughborough University that specialises in flood modelling, has announced its nationwide launch in the UK. The firm aims to support re/insurers, brokers, and their customers with live actionable flood warnings, including uniquely for surface water flooding. Previsico believes that the growing threat of surface water flooding ... Read the full article
Praedicat to develop named peril casualty product from Lloyd’s Lab
13th November 2019
Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has announced that it plans to develop a new named peril casualty product in the Lloyd’s Lab. Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, selected Praedicat as part of the third cohort ... Read the full article
QOMPLX adds John Ferrari, William Solms to senior roles
13th November 2019
QOMPLX, an intelligent decision platform provider startup formerly known as Fractal, has appointed John Ferrari to the role of Chief Administrative Officer and William Solms as President and general manager of the company's new government solutions division. Ferrari, who joins following a 32-year career in the US Army, will be responsible ... Read the full article
Lloyd’s has been too slow reacting to change: CEO John Neal
7th November 2019
Lloyd’s has not reacted quickly enough to changes in the risk landscape and must offer products and services that are more closely aligned with what customers want and need, according to Chief Executive of the marketplace John Neal. Speaking at a lecture today in Lloyd’s Old Library building, Neal emphasised the ... Read the full article
Concirrus names Adrian Turner as CFO
6th November 2019
InsurTech Concirrus has appointed Adrian Turner, previously of Guidewire, as its new Chief Financial Officer (CFO), reporting the firm's Chief Executive Officer (CEO), Andrew Yeoman. Turner brings more than two decades of industry experience to the role and joins from Guidewire, where he most recently served as International Finance Director. In ... Read the full article
AXIS Capital invests in health insurtech firm HealthCare.com
6th November 2019
Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has invested in health insurance-technology firm HealthCare.com. AXIS Capital participated in the insurtech’s Series B round of funding alongside CNO Financial Group and Second Alpha Partners, a New York-based private equity firm specialising in technology-enabled companies. The investment round brings HealthCare.com’s total capital ... Read the full article
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