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.
Tremor completes reinsurance auction using programmatic marketplace
19th December 2018
Tremor Technologies, a venture-backed programmatic risk transfer platform, has announced the successful pricing and placement of a large panel property catastrophe program to what it describes as a top 20 U.S property and casualty insurance company. The Connecticut based start-up says nearly 50 reinsurers from the traditional U.S, Bermuda, Lloyd’s, European ... Read the full article
InsurTech developers Prima Solutions and Effisoft complete merger deal
19th December 2018
InsurTech software developers Prima Solutions and Effisoft have completed a merger deal as part of a growth strategy to accelerate their development in the property and casualty (P&C), health and personal protection re/insurance markets. Prima Solutions and Effisoft claimed that their consolidation will produce one of the largest and most comprehensive ... Read the full article
JLT Re (North America), Pact Insurance announce insurtech partnership
17th December 2018
The North American arm of JLT Re has partnered with Pact Insurance, a personal auto Insurtech company, to create a digital insurance solution that covers established and emerging mobility risks. Ed Hochberg, Chief Executive Officer of JLT Re (North America) said the partnership is a testament to the unique and highly ... Read the full article
Lloyd’s turns to IoT for marine cargo performance improvement
17th December 2018
Lloyd’s has joined six lead market syndicates - AXA, QBE, CNA, Ascot, Antaras and Beazely - on a new initiative to begin using Parsyl, a venture-backed supply chain data platform that utilises Internet of Things (IoT) technology. The new initiative is designed for products that require specialist transport and storage, such ... Read the full article
IAG partnership to develop ethical AI-based systems
17th December 2018
Australian primary insurer, Insurance Australia Group Limited (IAG), has partnered with The Commonwealth Scientific and Industrial Research Organisation's (CSIRO) Data61 group and The University of Sydney on the creation of an independent, not-for-profit organisation founded to research the ethics of artificial intelligence (AI). The Gradient Institute’s goal is to develop ethical ... Read the full article
Hiscox targets European growth with INSTANDA InsurTech partnership
14th December 2018
Specialist re/insurer Hiscox has announced a new partnership with InsurTech firm INSTANDA to further its European growth strategy. Working together, the parties plan to explore opportunities for further growth across Hiscox’s commercial and personal lines business, through multiple distribution and service channels. “We are always looking to take a progressive approach to ... Read the full article
LMG exceeds targets for delegated authority platform adoption
13th December 2018
The London Market Group (LMG) has announced that market uptake for its Delegated Authority: Submission, Access and Transformation Solution (DA SATS) has been high, with 100% of managing agents involved in live delegated authority business now signed up for the platform. Additionally, 88 brokers in the coverholder market have also signed ... Read the full article
Threat of disruption driving re/insurer tech investment: Moody’s
12th December 2018
As technology becomes more affordable and accessible, consumers are becoming more demanding and have higher expectations from financial service providers like re/insurance companies, according to Moody’s. This high potential of disruption is in turn propelling re/insurers to invest in tech to remain relevant with consumers and boost profitability, which faces headwinds ... Read the full article
CoverWallet launches platform for insurance agents
11th December 2018
U.S-based Insurtech startup CoverWallet, an online platform founded in 2015 that simplifies the purchase and management of insurance for businesses, has announced the launch of a dedicated platform for insurance agents. Through CoverWallet for Agents, the company says agents will benefit from a fast, simple, and efficient way to provide commercial ... Read the full article
WTW launches latest version of Radar software platform
11th December 2018
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. WTW says Radar 4.2 gives insurers a future-proofed solution designed to achieve agile, sophisticated pricing, and a new level of ... Read the full article
Concirrus adds new COO Nick Roscoe from Marsh
7th December 2018
London-based insurtech Concirrus has appointed Nick Roscoe as its Chief Operating Officer. He joins to oversee company operations with a focus on ensuring customer success and to develop and strengthen the relationships that Concirrus has with partners delivering services within the market. Roscoe has spent over a decade as a Managing Director ... Read the full article
AIG’s Leandro DalleMule joins InsurTech start-up Planck Resolution
6th December 2018
Planck Resolution, an artificial intelligence (AI) based InsurTech start-up, has appointed Leandro DalleMule as General Manager for North America. DalleMule joins the firm from American International Group (AIG), where he most recently served as Chief Data Officer (CDO) and Head of Information, leading the insurer’s data transformative initiative. He started at AIG ... Read the full article
Digitalisation is resulting in more customer-centric insurance: GA report
5th December 2018
The increasing digitalisation of the economy is resulting in a shift from insurance that is primarily concerned with loss indemnification to one that provides a broader advisory service for customers on how to prevent, mitigate and manage risks, according to a report by international re/insurance think-tank The Geneva Association (GA). New ... Read the full article
Fintech firm Certua launches Enterprise Insurance platform
5th December 2018
Financial technology firm Certua has announced the launch of its Enterprise Insurance platform, which will allow companies to access its full service platform via API. Certua’s offering allows companies to get new insurance products to market quicker and enables insurers and reinsurers to access new digital markets by removing technological barriers ... Read the full article
Consolidation will help re/insurers leverage digital investments: J.P. Morgan
4th December 2018
Further sector consolidation would allow re/insurers in the European market to better leverage investments in digital innovation by sharing the costs across a wider revenue base and creating economies of scale, according to analysts at J.P. Morgan. A recent report by the firm suggested that, while investment in digital is growing ... Read the full article