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.
Leap Life announces digital insurance platform, backed by RGAX
2nd May 2019
Leap Life, an insurtech company backed by RGAX, the transformation unit of Reinsurance Group of America (RGA), has announced the launch of its personalised digital life insurance platform. The platform aims to predict an applicant’s chances of getting approved, using a matching algorithm that optimises need, health and financial fit to ... Read the full article
Munich Re to deploy high-res imagery, AI for faster hurricane claim payments
30th April 2019
New methods currently being explored by global reinsurance giant Munich Re could see hurricane victims receive claim payments on their damaged properties in the time it takes them to return to their homes, according to reports from German newspaper Handelsblatt. Artificial Intelligence (AI) will play a key role in enabling this rapid ... Read the full article
Tesla insurance product to be fronted by Markel’s State National
29th April 2019
According to a more than 4,000-page filing with the California Department of Insurance, Tesla's soon to be launched insurance program for its drivers is set to be fronted by Markel Corporation subsidiary State National Insurance Company, Inc. As we explained last week, it's been reported that Tesla, the Elon Musk-led ... Read the full article
Verisk looks to improve life insurance underwriting with Human API partnership
29th April 2019
Data analytics provider Verisk has announced a partnership with health data consolidation platform Human API. The partnership will allow Verisk to leverage electronic health record (EHR) data collected by Human API and in-turn produce risk scoring and benchmarking information for life insurers. Insurers will be able to use Verisk’s analytic tools to inform ... Read the full article
Lloyd’s Lab reveals second cohort of insurtechs
26th April 2019
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, has revealed the second cohort of insurtechs to be selected for its 10-week program. As with the first cohort, which commenced in October 2018, 10 teams of insurtech start-ups have been chosen to develop technology driven products and processes ... Read the full article
Marsh to rollout proof of insurance blockchain platform
26th April 2019
Global re/insurance broker Marsh is to begin rolling out its proof of insurance blockchain platform to US commercial clients. There are many who feel that blockchain technology will transform the certificate of insurance process, which is currently manual, and allow clients to more easily hire contractors and transfer risk while increasing ... Read the full article
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
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