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.
XL Innovate leads auto insurtech Zendrive’s $37m funding round
21st August 2019
Data and analytics firm Zendrive has raised $37 million in a Series B funding round led by XL Innovate, AXA XL’s venture capital insurtech fund. The funding round also saw the involvement of Hearst Ventures and existing investors including ACME Capital, BMW iVentures, NYCA, SignalFire. Zendrive plans on using the funds to ... Read the full article
MS Amlin begins trading on Whitespace platform
21st August 2019
MS Amlin, the re/insurance subsidiary of Japanese insurance group MS&AD Insurance Group Holdings, has commenced trading risks on the Whitespace platform, a cloud-based solution aiming to digitise the placing process of insurance contracts at Lloyd’s. The re/insurer joined a consortium alongside AXA XL, Neon, RFIB and Antares last year in ... Read the full article
Tokio Marine partners with Plug and Play in Singapore
19th August 2019
Tokio Marine Holdings, the largest property and casualty (P&C) insurance group in Japan, has announced a new partnership with Plug and Play’s insurtech program in Singapore. Plug and Play is a Silicon Valley-based innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups. It has had a ... Read the full article
AkinovA adds industry veteran Tatsuhiko Hoshina to advisory board
15th August 2019
AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of re/insurance industry veteran Tatsuhiko Hoshina to its advisory board. Hoshina, who brings over 30 years’ experience to the role, built Tokio Millennium Re from its establishment in 2000 before going on to lead the ... Read the full article
Sompo to utilise Slice platform to deploy digital insurance products
15th August 2019
Sompo Holdings Asia, part of the Japanese insurance and reinsurance company, has entered into a proof-of-value contract with cloud-based insurtech Slice Labs in a move designed to bring on-demand insurance to the Asia Pacific region. As per the agreement, Sompo is to license the Slice Insurance Cloud Services (ICS) platform to ... Read the full article
Arch Insurance to acquire tech-focused MGU Ventus
15th August 2019
The North American operations of Arch Insurance is set to acquire technology and analytics-focused managing general underwriter, Ventus Risk Management. Ventus was founded in 2016 and specialises in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Arch Insurance North America plans to integrate Ventus into its platform, enabling third-party ... Read the full article
InsurTech Corvus expands offering with the launch of Smart Tech E&O
14th August 2019
Boston-based InsurTech, Corvus Insurance has expanded its product line with the launch of Smart Tech E&O, a data-enabled Tech E&O and Cyber Liability policy which helps both brokers and policyholders better predict and prevent risk. The product assists both brokers and policyholders through automated IT security analysis, industry benchmarking and ongoing ... Read the full article
InsurTech Previsico targets insurance sector with flood resilience solution
14th August 2019
InsurTech firm Previsico, a SpinOut company from Loughborough University that specialises in modelling flooding in real-time, has announced its entry into the insurance sector following a successful seed funding round. The InsurTech specialises in modelling surface water flooding in real-time, and leverages the latest weather predictions to produce property-level flood nowcasts ... Read the full article
Tesla auto insurance offering “not a near-term threat”, say analysts
13th August 2019
The auto insurance offering being developed by Tesla, the Elon Musk-led automotive and energy company, is not going to disrupt the sector rapidly and the company is likely to look to partnerships, analysts said. Equity analysts from Credit Suisse recently attended a presentation by Tesla and heard the firm's Head of ... Read the full article
Munich Re subsidiary Roanoke partners with sports tech firm Stack
12th August 2019
Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with sports technology and registration platform provider Stack Sports, in a move that will power SecureFee Registration Cancellation Insurance. SecureFee provides financial protection to athletes faced with circumstances such as injury, illness, transportation and other plan altering ... Read the full article
Canopius to integrate Arturo’s deep-learning property analytics
12th August 2019
Specialty insurer and reinsurer Canopius AG has entered into a partnership with artificial intelligence (AI) and deep-learning property analytics start-up, Arturo. According to an announcement on the new arrangement, Arturo's deep-learning property analysis capability will be integrated into Canopius. The integration is expected to provide the re/insurer with physical property characteristic and ... Read the full article
Swiss Re exploring use of AI-driven automation tool
7th August 2019
Global reinsurer Swiss Re is working with computer software firm Expert System as it looks to harness Artificial Intelligence in the automation of tasks such as assessing risk reports or claims evaluation. Expert System says its AI-driven tool ‘Cogito’ applies human-like comprehension to make information access easier as well as faster ... Read the full article
Lloyd’s Lab selects third cohort of insurtechs for accelerator program
1st August 2019
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, has announced the third cohort of insurtech firms selected to take part in its 10-week program. The 11 successful teams were selected from more than 130 applications around the world, and will begin working in the Lab from September ... Read the full article
Berkshire Hathaway’s GEICO launches first telematics program
31st July 2019
GEICO, the auto insurance arm of reinsurance and investments giant Berkshire Hathaway, has launched and is trialling its first telematics product, named DriveEasy. The push into telematics based solutions to provide analytics and intelligence on driver performance has likely been driven by a desire to reign in claims costs, while charging ... Read the full article
Pacific Life Re & FWD Singapore partner on automated underwriting tech
29th July 2019
Pacific Life Re has announced a new partnership with FWD Singapore, which will see FWD adopt automated underwriting technology powered by Pacific Life Re’s insurtech subsidiary, UnderwriteMe. The digital solution, which is built on the Underwriting Rules Engine (URE), is expected to enhance FWD's real-time risk assessment on policy applications and ... Read the full article
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