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-backed insurtech INSHUR raises further $1.5m
29th August 2019
INSHUR, a 100% digital provider of commercial auto insurance, has raised a further $1.5 million to its Series A funding round from Viola FinTech, part of the Israel-based technology investment group Viola. Backed by global reinsurer Munich Re, INSHUR is a mobile-first provider of commercial auto insurance for private hire ... Read the full article
Insurtech Kin raises $47m to fund carrier in Florida
28th August 2019
Kin Insurance, an insurtech startup focused on matching US homeowners to insurance policies, has raised $47 million in additional funding. Kin plans on using the capital to launch Kin Interinsurance Network, a Florida insurance carrier that is expected to expand and serve other states in the near future. Using a customers’ home ... Read the full article
Manulife partners with insurtech Blink on parametric flight insurance
27th August 2019
Canadian multinational insurer Manulife has signed an agreement that will see a suite of parametric travel disruption insurance solutions, provided by travel insurtech Blink, to its customers. Blink's solutions offer a real-time service designed to ease the stress of a flight delay or cancellation by providing instant payment when a flight ... Read the full article
Insurtech funding rises nearly 280% in Q2: CB Insights
23rd August 2019
A handful of very large insurtech funding deals in the second-quarter of 2019 helped to take the total amount of fundraising for the quarter to almost $1.4 billion, which is almost 280% up on the prior year. Data from CB Insights shows that insurtech funding was down slightly on Q1 of ... Read the full article
China Pacific Insurance invests in B3i
22nd August 2019
The China Pacific Insurance Group (CPIC) has joined firms such as AXA, Munich Re, SCOR and Swiss Re in becoming a shareholder of the Blockchain Insurance Industry Initiative (B3i). B3i believes this investment from CPIC extends the breadth of the shareholder community and strengthens its representation across the global insurance market. GU ... Read the full article
Axinan first Southeast Asian insurtech to secure Labuan license
21st August 2019
Singapore-based insurtech Axinan has become the first Southeast Asian company of its kind to secure a combined general and reinsurance license from Labuan FSA, the financial regulator for Labuan International Business and Financial Centre. The license, obtained via its subsidiary Axinan Labuan Limited, will allow the firm to underwrite general and ... Read the full article
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
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