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.
Lloyd’s Lab commences new global search for InsurTech talent
4th December 2018
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market in September, has commenced a new global search for its latest cohort of InsurTech talent. The program is hoping to attract entrepreneurs and start-ups that are capable of developing technology driven products, platforms and processes to help overcome the challenges ... Read the full article
Re/insurers shouldn’t fear replacement by technology: Beazley CEO Horton
3rd December 2018
The re/insurance industry is facing a major disruption by technology, but new capabilities such as automation will ultimately complement, rather than replace, the work done by re/insurers, according to Andrew Horton, Chief Executive Officer (CEO) of Beazley and Chairman of the London Market Group (LMG). “We’re definitely facing a disruption by ... Read the full article
Verisk to acquire Rulebook for $87mn
3rd December 2018
Data analytics provider Verisk has signed a definitive agreement to acquire Rulebook, a provider of business intelligence and software solutions for the London Insurance Market. The reported purchase price is $87 million in cash, funded through cash on hand and existing bank facilities, with the deal expected to close in the ... Read the full article
Insurtech helps Swiss Re make client relationships stickier, says CEO
30th November 2018
New technological capabilities and InsurTech partnerships are allowing Swiss Re to create stickier and more flexible relationships with its clients, according to the company’s Chief Executive Officer (CEO), Christian Mumenthaler. Speaking in an interview with Bloomberg TV, Mumenthaler noted that a lot of money has been poured into InsurTech over the ... Read the full article
Zurich partners with claims insurtech Snapsheet
28th November 2018
Zurich Insurance Group is partnering with Snapsheet, a provider of virtual claims technology, as it looks to streamline its customer experience and drive new and innovative tech implementations. Snapsheet’s software as a service (SaaS) platform allows intake of information from various customer channels including e-mail, text, or a web and mobile ... Read the full article
Allianz Global Corporate & Specialty partners with insurtech Praedicat
28th November 2018
The Allianz corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS), is partnering with insurtech analytics firm Praedicat to give policyholders access to ChemMeta, a software solution delivering science and regulatory risk analytics for industrial companies. ChemMeta leverages natural language processing and machine learning to “read” and convert high volumes of ... Read the full article
Insurtech Bindable gets investment from EPIC, Motive Partners & Wafra
27th November 2018
Insurance technology firm Bindable has received an investment from EPIC Holdings, the corporate parent that oversees all of the investments across the EPIC insurance platform, alongside institutional and private equity specialists. The EPIC platform includes EPIC Insurance Brokers & Consultants as well as program business, MGA/MGU, warranty and insurtech initiatives. In this ... Read the full article
TransRe to partner with insurtech Concirrus on marine reinsurance programs
26th November 2018
Transatlantic Holdings, the reinsurance arm of the Alleghany Corporation, is to partner with London-based insurtech Concirrus on the development of data-driven reinsurance programs for marine insurers. To better assess risk across its portfolio TransRe will be leveraging Concirrus’ Quest Marine insurance software. Quest provides a single web application to allow commercial ... Read the full article
Chinese InsurTech firm WeSure partners with 20 re/insurers
23rd November 2018
WeSure, the insurance platform owned by Chinese investment conglomerate Tencent, has expanded its line of products and formed partnerships with 20 insurance and reinsurance companies. The firm's platform is hosted in the WeChat Mini Program ecosystem, part of Tencent's Chinese multi-purpose messaging application that has more than one billion monthly users. WeSure ... Read the full article
MAPFRE to make €25m insurtech fund investment
22nd November 2018
Spanish insurer MAPFRE has pledged a €25 million (US $28.5 million) investment in the Alma Mundi Insurtech Fund, with the aim of identifying early stage startups whose technology can be applied to the insurance sector. MAPFRE’s role as an anchor investor means it will play a key role in in the ... Read the full article
New tech key in narrowing protection gap: Swiss Re’s Jerome Haegeli
21st November 2018
Speaking yesterday at Swiss Re’s London offices, the firm's Chief Economist Jerome Haegeli, alongside the Head of Insurance Risk Research Dan Ryan, stated that it will take a combination of proactiveness and the deployment of new technologies to narrow the global protection gap. “More technology is a huge upside to the ... Read the full article
Plug and Play invests in drone Insurtech firm Betterview
21st November 2018
Plug and Play, a Silicon Valley-based innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups, has revealed plans to invest in Betterview, an InsurTech and drone start-up firm backed by Munich Re and Maiden Re. Betterview said that it plans to use the funding to ... Read the full article
Burns & Wilcox partners with cyber security firm
21st November 2018
Burns & Wilcox, the North American wholesale insurance broker and underwriting manager, has announced a partnership with BreachAware, a London-based cyber security firm. The partnership will provide B&W customers with a proprietary risk mitigation tool that scans the web 24/7 and identifies compromised assets such as company email addresses, passwords, and ... Read the full article
IoT to spur re/insurance innovation, amplify risk: Lloyd’s
21st November 2018
The rise of the Internet of Things (IoT) is set to revolutionise the capabilities of re/insurers while simultaneously ushering in a new age of increased complexity and amplified risk, according to new research by Lloyd’s. IoT will lead to data capture and management at an unprecedented scale, according to the report. This ... Read the full article
Allianz Life forms start-up accelerator with Securian Financial and gener8tor
16th November 2018
Allianz Life Ventures, part of Allianz Life Insurance Company of North America, has partnered with Securian Financial and start-up accelerator gener8tor to form the OnRamp Insurance Accelerator program, which will invest in new tech start-ups in the re/insurance industry. Based in Minneapolis, the initiative will provide a cash investment of $100,000, ... Read the full article