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.
SCOR Global Life partners with wearable tech firm on health insights
18th February 2019
SCOR Global Life, a division of the France-headquartered reinsurer, has partnered with wearable technology provider Garmin Health in the Asia Pacific region to improve its underwriting insights and promote better lifestyle choices for consumers. By analysing the health metrics generated by Garmin’s wearable devices, SCOR will be able to enhance its ... Read the full article
UK government backs AI projects for insurance industry
15th February 2019
The UK government has announced that it plans to invest in 40 artificial intelligence (AI) and data analytics projects to boost productivity and improve customer service in the UK insurance, accountancy, and legal services industries. The government has pledged £13 million to support these collaborative industry and research projects and develop ... Read the full article
Gen Re develops facial analytics app for insurance buyers
14th February 2019
Global reinsurer Gen Re has developed a new mobile application that uses facial analytics technology to help customers purchase Life, Hospital Cash and Accidental Death insurance policies. The NOW app uses technology by Lapetus Solutions to quickly estimate factors such as a user’s age, gender and BMI based on an uploaded ... Read the full article
Commercial auto insurtech INSHUR gets $7m Series A led by Munich Re
13th February 2019
INSHUR, a 100% digital provider of commercial auto insurance, has raised a $7 million Series A funding round which was led by Munich Re Ventures, the insurtech investments arm of the reinsurer. INSHUR secured $7 million of equity funding from the Series A round, as well as a further $2 million ... Read the full article
Insurtech funding surges in 2018 as key players expand: Deutsche Bank
8th February 2019
Insurtech investment volumes increased by more than 60% between 2017 and 2018, while key players such as Lemonade and Amazon also expanded their operations over the year, according to analysts at Deutsche Bank. Deutsche Bank data shows that insurtech investments (across all stages) totalled US $2.6 billion during the first three ... Read the full article
BlackFin invests €2mn in launch of Descartes Underwriting insurtech
6th February 2019
BlackFin Capital Partners has invested €2 million in the launch of Descartes Underwriting, a new B2B insurtech company based in Paris. Descartes functions as a Managing General Agency (MGA) and works with brokers to underwrite insurance policies on behalf of first-tier re/insurance and insurance-linked securities (ILS) funds. The firm designs innovative insurance ... Read the full article
AXA targets China’s travel insurance market using WeChat app
6th February 2019
AXA is targeting the lucrative travel insurance market in China with a new offering that is integrated directly into the WeChat mobile app. More than one billion users in China alone use WeChat to access instant messaging and manage e-commerce services, making it the most popular app in the country. AXA plans ... Read the full article
ChainThat adds Rebecca Oliver as Business Development Director
6th February 2019
Specialist blockchain solutions firm ChainThat has announced the appointment of Rebecca Oliver as Business Development Director, a newly-created role. She brings over 25 years’ experience in the Lloyd’s of London, London and Global re/insurance markets and joins from Eurobase, where she served as Director of Insurance. Prior to that, Oliver held senior ... Read the full article
Hiscox leads $58mn funding for insurtech platform CoverHound
5th February 2019
Global specialist insurer Hiscox has led a $58 million Series D funding round for CoverHound, a property and casualty (P&C) insurance platform for digital distribution. Additional investors included insurance providers Chubb, Aflac Ventures and MS&AD, who CoverHound entered a strategic alliance with earlier this month. CoverHound worked with Allen & Company ... Read the full article
Aon partners with insurtech firm to streamline claims process
5th February 2019
Global insurance and reinsurance broker Aon has entered into a new strategic alliance with insurtech firm Claim Central to digitize and streamline its claim management capabilities. The collaboration aims to enhance the customer experience using technology and services developed specifically for property and casualty (P&C) insurance companies. Claim Central will also open ... Read the full article
Munich Re takes stake in German Research Centre for AI
1st February 2019
Global reinsurance giant Munich Re has become a shareholder in the German Research Centre for Artificial Intelligence (DFKI), a leading European institute for the research of robotics, smart factories and immersive quantified learning. The partnership hopes to create new impulses in the fields of artificial intelligence and data analytics, and will ... Read the full article
Miguel Baptista named Chief Data Officer of Hyperion X
1st February 2019
London-headquartered Hyperion Insurance Group has named Miguel Baptista the Chief Data Officer of Hyperion X, its recently launched business targeting key areas of data, analytics and digital platform delivery. He joins from biopharmaceutical company MSD where he served as Senior Director of Information Platforms. In his new role, Baptista will oversee Hyperion ... Read the full article
Global Atlantic invests in InsurTech accelerator
1st February 2019
Life and annuity re/insurance firm Global Atlantic Financial Group has invested in Global Insurance Accelerator, an InsurTech-focused business accelerator. Global Atlantic’s investment will help fund the GIA’s annual mentor-driven program, offering six of the company’s staff members the opportunity to participate as mentors. “We have been aware of the GIA for a number ... Read the full article
Workers’ comp business ripe for insurtech innovation: Fitch
31st January 2019
The workers’ compensation segment of the property and casualty (P&C) re/insurance sector is a prime target for technology investment, according to analysts at Fitch Ratings. Analysts noted that, while it is currently enjoying a fourth consecutive year of market underwriting profits, the workers’ compensation business has historically suffered from large losses, ... Read the full article
Treefrog reveals catastrophe underwriting & pricing platform for reinsurers
30th January 2019
Bermuda domiciled Treefrog Consulting has partnered with Foundation Platform Technologies on the development of a new cloud-based catastrophe underwriting and pricing platform for the reinsurance and insurance-linked securities (ILS) sectors. The new software platform is designed to dramatically speed up the pricing of even the most complex risks for reinsurers and ... Read the full article
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