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 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
HSCM-backed insurtech Corvus develops silent cyber offering for cargo
26th July 2019
Corvus Insurance, an AI-driven insurtech MGA backed by ILS and reinsurance investment manager Hudson Structured Capital Management (HSCM), has expanded its product line with an offering that focuses on silent cyber risks posed by cargo insurance policies. The offering, called Smart Cargo + Cyber, will allow brokers and their policyholders to ... Read the full article
Aon partners with insurtech Bunker to target on-demand economy
26th July 2019
Aon has entered into a new commercial partnership with Bunker, a business insurance and compliance platform for independent workers and enterprises, to target the growing on-demand, sharing economy. The agreement provides Aon and its clients with access to Bunker’s compliance platform and Live Certificate of Insurance, which ensures an organisation’s contractors, ... Read the full article
New InsurTech investments hit $1.4 billion in Q2: Willis Towers Watson
25th July 2019
Total new InsurTech funding commitments exceeded $1.2 billion for the fourth consecutive quarter in Q2 2019, as 69 deals with a total value of $1.41 billion were announced in the period, according to insurance and reinsurance broker, Willis Towers Watson (WTW). The broker's latest quarterly InsurTech report highlights a buoyant investment ... Read the full article
AXA XL partners with Vindati on Ocean Cargo insurance for SMEs
25th July 2019
The US Marine division of global re/insurer AXA XL has partnered with InsurTech Managing General Underwriter (MGU), Vindati, to offer Ocean Cargo insurance for SMEs through Vindati's proprietary rate, quote, bind, issue online platform. Vindati offers specialty products and an integrated shopping experience for brokers and agents. In addition to offering AXA ... Read the full article
Insurtech Hippo raises $100m, targets over 80% of US homeowners
24th July 2019
Hippo Insurance, a California-based insurtech focused on US home insurance, has secured $100 million from a Series D funding round. Led by global technology investment firm Bond, the funding will be used to expand Hippo’s geographic footprint, deepen its direct-to-consumer product portfolio, and grow distribution networks of industry partners. More specifically, the ... Read the full article
Beazley to partner with obstetrics AI firm PeriGen
24th July 2019
Specialist insurer Beazley is partnering with PeriGen, a developer of artificial intelligence-driven systems for obstetrics. The agreement will provide Beazley’s US healthcare clients with an early warning system for labor and delivery. PeriWatch Vigilance works alongside any existing electronic fetal monitor and assess long-term trends in fetal heart rate, contractions, maternal vitals ... Read the full article
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
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