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.
AXA targets China’s travel insurance market using WeChat app
6th February 2019
AXA is targeting the lucrative travel insurance market in China with a new offering that is integrated directly into the WeChat mobile app. More than one billion users in China alone use WeChat to access instant messaging and manage e-commerce services, making it the most popular app in the country. AXA plans ... Read the full article
ChainThat adds Rebecca Oliver as Business Development Director
6th February 2019
Specialist blockchain solutions firm ChainThat has announced the appointment of Rebecca Oliver as Business Development Director, a newly-created role. She brings over 25 years’ experience in the Lloyd’s of London, London and Global re/insurance markets and joins from Eurobase, where she served as Director of Insurance. Prior to that, Oliver held senior ... Read the full article
Hiscox leads $58mn funding for insurtech platform CoverHound
5th February 2019
Global specialist insurer Hiscox has led a $58 million Series D funding round for CoverHound, a property and casualty (P&C) insurance platform for digital distribution. Additional investors included insurance providers Chubb, Aflac Ventures and MS&AD, who CoverHound entered a strategic alliance with earlier this month. CoverHound worked with Allen & Company ... Read the full article
Aon partners with insurtech firm to streamline claims process
5th February 2019
Global insurance and reinsurance broker Aon has entered into a new strategic alliance with insurtech firm Claim Central to digitize and streamline its claim management capabilities. The collaboration aims to enhance the customer experience using technology and services developed specifically for property and casualty (P&C) insurance companies. Claim Central will also open ... Read the full article
Munich Re takes stake in German Research Centre for AI
1st February 2019
Global reinsurance giant Munich Re has become a shareholder in the German Research Centre for Artificial Intelligence (DFKI), a leading European institute for the research of robotics, smart factories and immersive quantified learning. The partnership hopes to create new impulses in the fields of artificial intelligence and data analytics, and will ... Read the full article
Miguel Baptista named Chief Data Officer of Hyperion X
1st February 2019
London-headquartered Hyperion Insurance Group has named Miguel Baptista the Chief Data Officer of Hyperion X, its recently launched business targeting key areas of data, analytics and digital platform delivery. He joins from biopharmaceutical company MSD where he served as Senior Director of Information Platforms. In his new role, Baptista will oversee Hyperion ... Read the full article
Global Atlantic invests in InsurTech accelerator
1st February 2019
Life and annuity re/insurance firm Global Atlantic Financial Group has invested in Global Insurance Accelerator, an InsurTech-focused business accelerator. Global Atlantic’s investment will help fund the GIA’s annual mentor-driven program, offering six of the company’s staff members the opportunity to participate as mentors. “We have been aware of the GIA for a number ... Read the full article
Workers’ comp business ripe for insurtech innovation: Fitch
31st January 2019
The workers’ compensation segment of the property and casualty (P&C) re/insurance sector is a prime target for technology investment, according to analysts at Fitch Ratings. Analysts noted that, while it is currently enjoying a fourth consecutive year of market underwriting profits, the workers’ compensation business has historically suffered from large losses, ... Read the full article
Treefrog reveals catastrophe underwriting & pricing platform for reinsurers
30th January 2019
Bermuda domiciled Treefrog Consulting has partnered with Foundation Platform Technologies on the development of a new cloud-based catastrophe underwriting and pricing platform for the reinsurance and insurance-linked securities (ILS) sectors. The new software platform is designed to dramatically speed up the pricing of even the most complex risks for reinsurers and ... Read the full article
Allianz to automate legal proceedings for injury claims using AI
28th January 2019
Allianz Insurance has launched a new digital proposition, called Defendant Hub, that uses artificial intelligence (AI) technology to automate Ministry of Justice Stage 3 injury claims. Developed in partnership with UK law firm Keoghs, Defendant Hub will provide Allianz’s injury claims handlers with an end-to-end solution for Stage 3 claims. This is ... Read the full article
Insurers collaborate to establish blockchain in healthcare industry
28th January 2019
A collaboration featuring leading health insurers and led by IBM, Health Care Service Corporation, and PNC Bank hopes to enhance patient care and reduce unnecessary costs by designing and implementing a network using blockchain technology. The collaboration, which includes CVS Health’s business Aetna and U.S insurer Anthem, says major improvements in ... Read the full article
AmTrust adopts PCMI software for reinsurance business
25th January 2019
Property and casualty re/insurer AmTrust Financial Services has signed an agreement with Policy Claim Management International (PCMI) Corporation to use its integrated software solutions for AmTrust’s reinsurance business. AmTrust plans to implement the Policy Claim and Reporting Solutions (PCRS) - Reinsurance Module from PCMI, which it says will provide its clients ... Read the full article
Incumbent insurers need to embrace tech, innovation: Simplitium
24th January 2019
Innovation across the insurance industry is about more than just new technologies and solutions, but includes behaviours and attitudes. And while incumbent insurers are increasingly looking to purchase InsurTech firms, there's a risk of complacency, according to James Lay and Matthew Jones from Simplitium, a provider of risk analysis. In a recent ... Read the full article
Fourth Industrial Revolution “transforming modern life”: Swiss Re’s Ojeisekhoba
24th January 2019
Swiss Re’s Chief Executive Officer of reinsurance Moses Ojeisekhoba has emphasised the re/insurance industry’s place within the so-called 'Fourth Industrial Revolution' - which he says is transforming every part of modern life with unprecedented speed and scale of technological progress and digitisation - amid the World Economic Forum’s (WEF) annual ... Read the full article
AXA Venture Partners raises $150m for early stage insurtech investments
23rd January 2019
AXA Venture Partners (AVP), the venture capital arm of French insurer AXA, has raised $150 million for its second early stage fund, AVP Early Stage II. Similar to AVP’s first early stage fund, which was completed back in 2015 and raised $110 million, AVP Early Stage II will focus on North America, ... Read the full article