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 rolls out digital underwriting solution for Swedbank
3rd October 2019
Munich Re Automation Solutions Ltd, an insurtech specialist and subsidiary of the Munich Re group, has announced that Swedbank Försäkring has gone live with its digital underwriting solution, ALLFINANZ. The successful installation of ALLFINANZ will create a platform for innovation for Swedbank Insurance business, the parties explained. Swedbank AB is a Nordic-Baltic ... Read the full article
Sompo Intl expands partnership with data analytics firm Pharm3r
30th September 2019
Bermuda-based property and casualty re/insurer, Sompo International has expanded its partnership with life science and healthcare data analytics firm Pharm3r in a move aimed at enhancing its US life sciences risk modelling capabilities. Pharm3r’s data services are already leveraged by Sompo’s Bermuda excess casualty unit. Now, Its data sets and analytics will ... Read the full article
Lloyd’s to continue leveraging MIS’ satellite imagery service
27th September 2019
McKenzie Intelligence Services (MIS), a provider of imagery and geospatial intelligence, has been highlighted by Lloyd’s as a key component of its ongoing modernisation drive. Back in May, Lloyd’s announced a new strategy focused on delivering higher quality risk protection for the market’s clients. The six proposed transformational initiatives contained within ... Read the full article
Aon introduces AI-powered claims analysis platform
25th September 2019
Global re/insurance broker Aon has announced the launch of ClaimsMonitor.X, an artificial intelligence-driven platform that can quickly analyse claims notes and provide insights into an insurer’s efficiency and profitability. The platform, available to insurers in the US and Canada, has been developed in collaboration with CLARA analytics, a provider of AI ... Read the full article
Travelers develops aerial imaging tool for damage assessment
25th September 2019
U.S. primary insurer Travelers has announced the launch of a new high-resolution aerial imaging capability that enables agents and brokers to assess property damage immediately following a catastrophe event. Travelers Catastrophe Map Viewer will provide a before-and-after photographic comparison within one or two days after an event – normally before anyone ... Read the full article
Insurers should engage with public on appropriate AI usage: CII
25th September 2019
Re/insurance industry body the Chartered Insurance Institute (CII) has argued that the profession should engage with the public to reach a consensus on what constitute a responsible use of artificial intelligence (AI) and data. The recommendation follows a report for the Centre for Data Ethics and Innovation, which examined the potential ... Read the full article
Marsh trials blockchain-powered placement platform
25th September 2019
Global re/insurance brokerage Marsh has announced plans to pilot a new digital placement platform powered by blockchain technology, called Risk Exchange. The Risk Exchange concept was proposed by a winning Marsh hackathon team and further developed in Marsh Digital Labs. The broker believes the platform has the potential to transform the insurance ... Read the full article
Nephila looks to reduce Lloyd’s costs with finance platform from Phinsys
19th September 2019
Nephila Syndicate Management Ltd (NSML) has selected the suite of finance and accounting products from software provider Phinsys to help streamline its financial processes and automate statutory, regulatory and management reporting. Nephila Syndicate 2357 is set to migrate from third party management to its own independent managing agency in October, and ... Read the full article
Vouch Insurance announces launch, backed by Munich Re capacity
19th September 2019
Vouch Insurance, a new insurance company focused on early stage tech start-ups, has announced its launch, with capacity for its policies to be provided by Munich Re. Using an entirely digital platform, Vouch will offer proprietary insurance products and risk assessment tools designed specifically for high growth companies. Vouch also revealed that ... Read the full article
Arch, Marsh collaborate on insurance solution for digital assets
18th September 2019
Arch Insurance UK, a division of Arch Insurance International, has partnered with global re/insurance brokerage Marsh on a new solution designed to protect digital asset private keys held in traditional vault facilities. A private key, in this context, is essentially a string of numbers and letters that leads to a digital ... Read the full article
Marsh’s Torrent Technologies develops new flood offering
18th September 2019
Torrent Technologies, a Marsh company, has announced the launch of FloodPlus Commercial, a new private market primary flood insurance offering for agents of its Write Your Own (WYO) carrier clients. FloodPlus commercial provides up to $2.5 million in flood coverage for small commercial property owners’ building, building personal property (BPP), and ... Read the full article
INSHUR adds Uber’s Simon Logan to senior team
18th September 2019
INSHUR, the Munich Re-backed provider of commercial auto insurance, has announced the appointment of Simon Logan as Vice President of Commercial & Legal. Logan previously served as former Legal Director of Insurance, EMEA at Uber, which INSHUR partnered with back in May 2019. INSHUR said that the appointment would help to ... Read the full article
Insurdata recruits Head of Client Success from Allianz
17th September 2019
Insurdata, an insurtech firm specialising in peril-specific exposure and risk data, has announced the appointment of Rosina Smith to the newly created role of Head of Client Success. Smith joins Insurdata from Allianz, where she most recently served as Acting Head of Commercial Lines Pricing in the UK. She spent seven years ... Read the full article
AXA XL develops digital hot wallet insurance
17th September 2019
AXA XL, the property and casualty and Specialty Risk division of AXA, has designed a bespoke contractual liability insurance coverage tailored for a digital "hot" wallet product offered by Hoyos Integrity Corporation, a company specialising in biometrically secured products and applications. A hot wallet refers to a cryptocurrency wallet that is ... Read the full article
P&C focused InsurTech service provider, Combined Ratio Solutions launches
16th September 2019
A new InsurTech service provider focused on the property and casualty (P&C) industry has been launched by industry veterans Luke Magnan and Michael Jones, called Combined Ratio Solutions. Based in Hartford, Connecticut, Combined Ratio, an InsurTech service provider, is focused on delivering technology solutions that create overall value for insurers and ... Read the full article
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