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.
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
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
