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.
Michael Ferber appointed CEO of insurtech Dovetail Insurance
25th April 2019
Dovetail Insurance, an insurtech company that serves independent agents providing small commercial insurance, has announced the appointment of Michael Ferber as Chief Executive Officer (CEO), effective immediately. He succeeds outgoing CEO Gregory Martin, who will retire from Dovetail at the end of May. Ferber joins Dovetail from ICAT, a digital-based underwriter of ... Read the full article
MarketScout adds insurtech Wingman to MGA accelerator program
24th April 2019
MarketScout, an electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has invested in the Wingman insurtech platform and added the start-up to its MGA accelerator program. Wingman provides retail agents with access to cyber insurance coverage in a 60-second quote to bind electronic format, aiming to deliver policies within ... Read the full article
InsurTech Amenity closes $18m Series B led by STARR Companies
18th April 2019
Amenity Analytics, a software company developing solutions using natural language processing (NLP) and machine learning, has secured $18 million in a Series B funding round led by STARR Companies and its Chief Executive Officer Hank Greenberg. Amenity says it plans to use the funding to expand its team and product development. NLP ... Read the full article
POP Insurance partners with AI insurtech Fractal Industries
17th April 2019
POP Insurance Holdings, a specialist insurance group based in Sydney, Australia, and its MGA subsidiary Fusion Specialty Insurance (Fusion), have announced a new partnership with Fractal Industries, an AI-powered analytics and insurtech software provider. Under the partnership, the Virginia-based insurtech will use its proprietary, data-driven decision support platform to enable Fusion’s ... Read the full article
InsurTech startup Cytora secures £25m in funding, eyes international expansion
17th April 2019
London-based InsurTech startup Cytora has secured £25 million in a Series B funding round led by Swedish venture capital firm EQT Ventures. Cytora, which was founded at the University of Cambridge in 2014, deploys artificial intelligence (AI) into commercial underwriting processes to improve and assist with the automation of decisions throughout ... Read the full article
Tremor completes property cat auction placement for Markel
16th April 2019
InsurTech startup Tremor Technologies, Inc. has completed another property catastrophe auction placement, successfully pricing and placing two layers of Markel Corporation's property cat excess of loss reinsurance tower, reports Artemis. Tremor, which operates an open, technology-driven, programmatic market for the placement of reinsurance risk, completed its first auction of a ... Read the full article
Property data startup Insurdata secures $3m in seed funding
16th April 2019
Insurdata, an InsurTech startup specialising in the augmentation of peril-specific exposure and risk data, has secured $3 million in seed funding from a group of investors led by Anthemis and Menlo Ventures. Insurdata was launched in 2017 to address the lack of property-specific data available to the re/insurance market. By providing access ... Read the full article
Generali turns to blockchain for enhanced employee benefits offering
16th April 2019
Professional services firm Accenture and Generali Employee Benefits (GEB) have announced a blockchain-powered solution aimed at enabling participants in the reinsurance process for captive or pooling services to access the same data and reduce processing errors via smart contracts and automated reconciliation. The solution is expected to streamline GEB’s employee benefit ... Read the full article
InsurTech Lemonade secures $300m in latest funding round
11th April 2019
InsurTech start-up Lemonade has announced the signing of a $300 million Series D funding round led by SoftBank Group, with participation from Allianz, General Catalyst, GV, OurCrowd, and Thrive Capital. Lemonade is one of the most high-profile companies to emerge from the insurance technology wave with aims to digitising the entire ... Read the full article
Aon leverages AI to extract data insights from historical insurance documents
11th April 2019
Global insurance and reinsurance broker Aon has leveraged Groundspeed's artificial intelligence (AI) technology to uncover invaluable insights, helping the firm identify underlying causes of claims. The AI technology harvested critical data from thousands of historical insurance documents, identifying 170 million data points. Aon states that the manual process of extracting data resulted ... Read the full article
IA Capital Group raises $150mn for insurtech-focused venture capital
4th April 2019
IA Capital Group, an insurtech-focused venture capital firm, has announced that it has raised $150 million across three funds, representing its sixth, seventh and eight investment vehicles. The funds include: Inter-Atlantic Stonybrook Insurtech Ventures, a multi-LP fund focused on P&C insurtech Inter-Atlantic; G Fund, a single-LP fund focused on life/annuity/retirement insurtech; ... Read the full article
Advent appoints Jack Smith as Head of Operations
1st April 2019
Advent Insurance Management, the InsurTech-led Lloyd’s & London market service provider, has appointed Jack Smith as Head of Operations, a newly created role. Smith, whose appointed is effective immediately, brings over 35 years’ experience to Advent. He will be based in the company’s Chelmsford offices. Prior to Advent he worked for Tasker ... Read the full article
AXA-backed insurtech Sayata Labs launches with $6.5mn in funding
26th March 2019
Sayata Labs, a new insurtech start-up focused on cyber risk assessment for insurers and SMBs, has announced today that it has launched with $6.5 million in seed funding. The Tel Aviv-based company is already partnering with re/insurance broker AXA to enhance its cyber risk capabilities, while Israeli venture capital firm Elron ... Read the full article
AI insurtech omni:us adds Joost Heideman as strategic advisor
26th March 2019
omni:us, an insurance-focused artificial intelligence (AI) solutions business, has appointed Joost Heideman as strategic advisor to help drive its global expansion plans. Heideman has more than 25 years experience in the insurance industry and was until January 2019 Chief Executive Officer of Dutch mutual insurance company Univé. In his new role, Heideman ... Read the full article
B3i raises a further $16 million, shuffles board
26th March 2019
According to reports, the Blockchain Insurance Industry Initiative (B3i) now has total capital of more than $22 million, after raising a further $16 million over the last month. Corporate registry filings in Switzerland reveal that just over half, approximately $8.34 million, was raised in the form of cash, with the remainder ... Read the full article
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