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.
Broker consolidation an opportunity for Beazley, says Layton
24th July 2019
Beazley’s global head of broker relations and marketing Lou Ann Layton has spoken of the opportunities inherent to an “undeniable” trend of consolidation currently sweeping the brokerage community. “While some people look at broker consolidation as a threat to the industry, or the underwriting community, Beazley sees it as an opportunity,” ... Read the full article
Fractal becomes QOMPLX, raises $78.6m Series A led by Cannae & Motive Partners
23rd July 2019
Fractal Industries Inc., the financial technology firm with a focus on insurance, cyber security and quantitative finance has rebranded itself as QOMPLX™ and announced a $78.6 million Series A financing led by Cannae Holdings, Inc. and Motive Partners. QOMPLX, as it shall now be known, describes itself as an intelligent decision ... Read the full article
HSCM Bermuda leads latest funding round for RiskGenius insurtech
16th July 2019
RiskGenius, an insurtech firm that applies machine learning software to insurance policies, has announced the completion of a Series B financing round, which was led by Hudson Structured Capital Management Ltd. (HSCM Bermuda). The insurtech also expanded its partnerships with Everest Insurance, FM Global and Liberty Mutual, and appointed Sean Mollet ... Read the full article
Slow 5G roll-out gives insurers time to adapt to IoT disruption: Moody’s
15th July 2019
The gradual roll out of Europe’s 5G mobile networks will give insurers more time to adapt to the potential disruption which 5G-enabled Internet of Things (IoT) applications could inflict on the sector, according to a Moody's Investors Service report published today. Helena Kingsley-Tomkins, AVP-Analyst at Moody's, explains that 5G-enabled IoT such ... Read the full article
DAC Beachcroft to launch AI-powered motor liability tool
12th July 2019
International law firm DAC Beachcroft has worked together with insurtech start-ups Automated Insurance Solutions and Audatex on the development of an online artificial intelligence-powered tool able to quickly and consistently assess liability following a motor accident. The BAIL platform is accessed via a secure web portal and enables Insurers to answer ... Read the full article
Concirrus collab targets automated fleet risk management
11th July 2019
London-based insurtech Concirrus is partnering with connected camera specialists SureCam and is planning to integrate their technology into its data analytics platform Quest Fleet. It’s hoped the move will provide new insights and enable fleets to automate risk management processes, prioritise driver coaching effectively and optimise First Notification of Loss. This ... Read the full article
Lloyd’s eyes improved insurance contracts for customers
8th July 2019
Lloyd’s has announced the launch of Contract Confidence, a tool which leverages advanced search techniques to scan contracts and check for errors and discrepancies. For example, the tool is able to run checks against 1,400 open market rules and highlight where the contract has failed or may fail a check. It also ... Read the full article
African re/insurer Klapton adopts software from Eurobase
5th July 2019
Eurobase International Group, an international software and service provider to financial institutions, has announced that Klapton has selected its Synergy2 platform to support its operations. Klapton, a re/insurer registered in the Autonomous Island of Anjouan, Union of Comoros, said it identified Synergy2 as the best solution to support its operational efficiency ... Read the full article
Lloyd’s Lab insurtech ClauseMatch reveals findings of 10-week pilot
5th July 2019
Lloyd’s Lab, the innovation accelerator launched last year by the Lloyd’s market, has revealed the findings of insurtech ClauseMatch following the completion of its 10-week long pilot project. ClauseMatch, a software technology company that enables financial institutions to comply with internal corporate governance documentation, was required to use state-of-the-art technology to ... Read the full article
INSTANDA targets speed & efficiency with MGA start-up service, IMGA
1st July 2019
Cloud-based digital insurance platform, INSTANDA, has announced the establishment and launch of an MGA start-up service, IMGA. IMGA is designed to provide all the technical capabilities to both manage and run a new MGA, including product distribution, submission management, policy management, renewals, and first notice of loss (FNOL) processing. Speed and efficiency ... Read the full article
Aon & Oxfam launch blockchain-based insurance for farmers in Sri Lanka
1st July 2019
Re/insurance broker Aon has partnered with Oxfam and insurtech firm Etherisc to launch a blockchain-based insurance platform for smallholder farmers in Sri Lanka. Nearly 200 farmers have been enrolled in the solution, which aims to deliver micro-insurance for paddy field farmers who are at risk of losing their crops due to ... Read the full article
Allianz partners with insurtech firm Wrisk to digitalise UK auto products
27th June 2019
Allianz Partners has announced a new partnership with UK-based insurtech firm Wrisk that will help to digitalise the products offered by Allianz Automotive, the business line that focuses on the needs of car manufacturer’s customers. The objective of the partnership is to jointly offer new automotive insurance products on Wrisk’s mobile ... Read the full article
Insurtech Tensorflight closes $2m funding round
26th June 2019
Insurtech startup Tensorflight has closed a $2 million round of funding as the company looks to scale its computer vision risk assessment service for commercial property insurers. The round was led by ff Venture Capital, Hudson Structured Capital Management, Nephila, Hemi Ventures, and other investors. Tensorflight uses geospatial imagery, building records, and ... Read the full article
HSCM Bermuda, White Mountains latest to invest in auto-focused insurtech Noblr
24th June 2019
HSCM Bermuda Management Company, an insurance-linked securities (ILS), reinsurance and transportation investment manager, has in collaboration with White Mountains Capital and TPRE Reinsurance invested in auto-focused insurtech firm Noblr. Noblr, who was recently invested in by hedge fund-backed reinsurer Third Point Re, offers an insurance product designed to reward automobile ... Read the full article
Third Point Re invests in driver-focused insurtech Noblr
20th June 2019
Hedge fund-backed reinsurer Third Point Re has entered into a partnership with insurtech firm Noblr through a combination of a minority equity investment and reinsurance. Noblr offers an insurance producted designed to reward drivers for making smart decisions, leveraging telematics data, actuarial insight, and product design to offer feedback and real-time ... Read the full article
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