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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.

WTW launches new venture capital, growth board initiatives

5th June 2019

Global re/insurance brokerage Willis Towers Watson has announced the launch of two initiatives designed to spur organic and inorganic growth. WTW Strategic Ventures, the first of the two initiatives, will look to make early-stage investments in innovative companies. It’s hoped these kinds of investments will unlock new growth possibilities in relevant businesses ... Read the full article

New tech allowing more captives to profit from third-party risks: Marsh report

5th June 2019

The number of captive insurers writing third-party business is rising as new technologies expand the ways in which organisations can deliver insurance solutions, says re/insurance brokerage Marsh in a new report. By underwriting third-party risks in a captive, parent companies can bring in additional premium and generate profits should the captive ... Read the full article

Aon invests in CoverWallet, announces SME partnership

31st May 2019

Global re/insurance brokerage Aon and US-based insurtech CoverWallet have entered into a partnership that will see the two companies work together in the SME-space in Australia. In conjunction with this agreement, CoverWallet has received a strategic investment from Aon. Moving forward, Aon will partner with CoverWallet on furthering technological advancements and client ... Read the full article

Amazon could target P&C insurance as a broker: CB Insights

30th May 2019

Analysts at CB Insights have suggested that Amazon could enter the insurance space as a broker on the property and casualty (P&C) side, using its size as an e-commerce retailer and its huge member base to become a major distributor in the U.S. Amazon has already shown some interest in building ... Read the full article

Uber and INSHUR partner to provide digital insurance services

30th May 2019

Ridesharing giant Uber has partnered with INSHUR to provide a range of insurance services to drivers who use the Uber app. INSHUR is a mobile-first provider of commercial auto insurance for private hire drivers, and utilises information about average trips, location and driver ratings in near real-time. The data INSHUR collects ... Read the full article

Tech firm Geospatial Insight launches AI-driven property data product

29th May 2019

Geospatial Insight, a provider of independent research derived from the analysis of satellite, aerial and drone imagery, has announced the launch of its new product PropertyView. The product, available globally, combines artificial intelligence (AI) and scalable cloud computing to extract critical building information from satellite imagery. Customers are given access via a web ... Read the full article

Maiden Re-backed insurtech Betterview closes $4.5m funding round

28th May 2019

Betterview, an insurtech startup backed by Munich Re and Maiden Re, has announced the close of a $4.5 million Series A, bringing the company’s total funding to $10 million. The company, founded in 2014, started off as a drone-based property inspection platform and service. In late 2017, Betterview started building a new ... Read the full article

WTW integrates insurtech vendor Tia Technology into pricing platform

23rd May 2019

Global insurance and reinsurance broker Willis Towers Watson (WTW) has partnered with insurtech vendor Tia Technology to enhance the offering of its Radar Live price delivery software. WTW intends to integrate the Tia rating engine into Radar Live, allowing users to take full advantage of both systems and providing more frequent ... Read the full article

Willis Re & Concirrus partner on specialty re/insurance using IoT

22nd May 2019

The global reinsurance arm of broker Willis Towers Watson, Willis Re, has entered into a strategic partnership with InsurTech firm Concirrus to transform specialty re/insurance products by leveraging data from the Internet of Things (IoT). Under the partnership, Willis Re will join London-based Concirrus' Power20, a community of visionaries who are ... Read the full article

Greenlight Re Innovations backs online dispute resolution start-up

21st May 2019

Greenlight Re Innovations, part of the specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has announced a strategic investment in FairClaims, an online insurance and consumer dispute resolution start-up. Based in Los Angeles, FairClaims has developed an online system that helps claimants to drive settlement via negotiation and mediation. It ... Read the full article

Tremor places programmatic swap deal for parametric cat risk

21st May 2019

Tremor Technologies, the programmatic risk transfer platform, has priced and placed the first ever programmatic parametric swap transaction in insurance form. The insurtech start-up has already priced and placed a number of catastrophe reinsurance programs beginning at the end of 2018, but has moved into new territory with this latest deal. Tremor ... Read the full article

Tremor adds team of market design experts

14th May 2019

As Tremor Technologies continues to advance its programmatic risk marketplace, the firm has hired a team of market designers that have previously advised governments, industry groups and leading companies. InsurTech startup Tremor operates an open, technology-driven, programmatic market for the placement of reinsurance risk, and has completed a number of auctions ... Read the full article

WTW enhances security, AI capabilities of Radar pricing tool

14th May 2019

Global insurance and reinsurance broker Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. Radar 4.4 implements new fine-grained security controls that simplify the application of the pricing software, ... Read the full article

InsurTech investments break records in Q1 2019: Willis Towers Watson

9th May 2019

For the third consecutive quarter, InsurTech funding surpassed the $1 billion mark in the opening three months of 2019, with 85 deals recorded with a total value of $1.42 billion, according to the latest quarterly InsurTech Briefing from insurance and reinsurance broker, Willis Towers Watson (WTW). When compared with the fourth-quarter ... Read the full article

Xceedance launches new software, services offering MGA Agility Suite

7th May 2019

Re/insurance service provider Xceedance has announced the launch of its new software and services offering, MGA Agility Suite. Xceedance’s MGA Agilty Suite combines policy-administration capabilities, an underwriting platform, plus distribution & communication tools and is designed to enable both established and startup program administrators, MGAs and MGUs worldwide to deploy a ... Read the full article

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