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.
Willis Towers Watson expands Plug and Play insurtech partnership
8th October 2018
Re/insurance broker Willis Towers Watson (WTW) has expanded its partnership with Plug and Play, an innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups. The new agreement extends WTW’s access to insurtech startups across all of Plug and Play’s platforms, which include Beijing, Munich, New ... Read the full article
Greenlight Re unit makes second insurtech investment in as many weeks
5th October 2018
Greenlight Re Innovations, part of the specialist hedge fund backed property and casualty (P&C) reinsurer Greenlight Capital Re, has invested in Sana Benefits, an Austin-based third party administrator (TPA) startup focused on the U.S self-insured health market. Having commenced providing administrative services on September 1, 2018, Sana Benefits’ Software as a Service (SaaS) ... Read the full article
Lockton adds tech expertise to Capital Markets business
4th October 2018
Global insurance and reinsurance broker Lockton has appointed financial services and technology experts Ash Shah and Femi Ogunjumo as Managing Director and Vice President, respectively, at its recently established Lockton Capital markets business. Launched last month, Lockton Capital Markets facilitates investment banking and capital markets transactions and aims to provide ... Read the full article
Munich Re partners with eDriving InsurTech on commercial fleet risk reduction
3rd October 2018
Munich Reinsurance America, Inc. (Munich Re) has partnered with online driver training provider and global risk management firm eDriving to offer companies with commercial fleets a driver risk reduction program. eDriving warranties that organisations will reduce the number of collisions by at least 20% in the first program year or the ... Read the full article
Marsh targets gig economy with new blockchain solution
3rd October 2018
Global re/insurance broker Marsh is working with data security platform Evident on the first blockchain-based verification solution for clients in the sharing and gig economies. Marsh has been considerably active in incorporating blockchain into its value chain since the company’s partnership with IBM was first announced five months ago. This new ... Read the full article
Parametric InsurTech Jumpstart launches with text-powered earthquake coverage
3rd October 2018
Jumpstart, a California-based InsurTech start-up, has officially launched with a new type of natural disaster insurance product that provides parametric coverage and text message driven payments for earthquake risks. The company uses technology to track real-time data and provide automatic payments initiated by text message following an earthquake of pre-specified intensity, ... Read the full article
AXA XL announces IoT partnership
2nd October 2018
AXA XL is to offer its clients enhanced loss mitigation and risk prevention services with Internet of Things (IoT) technology provided by venture-backed supply chain data platform, Parsyl Inc. This partnership with the Colorado-based firm will make it possible to cost effectively place IoT sensors alongside sensitive marine cargo, providing insights ... Read the full article
Marsh expands blockchain partnership with IBM
28th September 2018
Global re/insurance broker Marsh is expanding its blockchain partnership with IBM, five months after announcing its decision to use the technology to streamline proof of insurance processes. It’s hoped that blockchain technology will transform the certificate of insurance process, which is currently manual, and allow clients to more easily hire contractors ... Read the full article
Greenlight Re unit leads Galileo Series A funding round
28th September 2018
Greenlight Re Innovations, part of the specialist hedge fund backed property and casualty (P&C) reinsurer Greenlight Capital Re, has made a strategic investment in Galileo Platforms, a Hong Kong-based Platform as a Service (PAAS) business focused on emerging markets in Asia. Greenlight Re Innovations believes the secure platform will reduce IT costs ... Read the full article
G20 Insurance Forum to outline insurers’ role in tackling global challenges
26th September 2018
A series of discussions are due to take place in Argentina this week as the G20 Insurance Forum examines the role of insurers in tackling global challenges. The forum’s first session will examine insurers’ role in boosting resilience and stability in society, and the part insurers play in food security and ... Read the full article
ZhongAn announces tech-driven partnership with Sompo Japan
26th September 2018
ZhongAn International, a subsidiary of China’s largest online-only insurer ZhongAn Online P&C Insurance, has entered into a partnership with Sompo Japan Nipponkoa aimed at providing a cloud-based, end-to-end insurance service. Through the new partnership, ZhongAn International will be expected to help Sompo, one of Japan's largest insurers, approach digital transformation; increasing ... Read the full article
Blockchain smart contracts unlikely to replace traditional processes: Solidum
26th September 2018
The nuanced complexity of a re/insurance contract makes it an unrealistic candidate for replacement by blockchain smart contracts, according to independent investment management firm Solidum Partners. A smart contract is essentially an immutable piece of code embedded into the blockchain that can execute binary decisions such as the automatic transfer of ... Read the full article
Boost Insurance launches Paladin Cyber InsurTech program
26th September 2018
Boost Insurance, a recently established InsurTech development platform, has announced the launch of its first InsurTech program, Paladin Cyber. Boost said that, by utilising its technology and end-to-end insurance infrastructure, Paladin’s admitted, multi-state SMB cyber program was brought to market in just four and a half months, which compares with an ... Read the full article
Concirrus InsurTech raises £5mn in funding, led by IQ Capital and Eos
25th September 2018
Concirrus, a London-based InsurTech company focused on the Marine and Motor Analytics market, has raised an additional £5 million in equity funding, bringing the total raised to £12 million. The latest round of funding was co-led by Cambridge-based deep tech venture capital firm IQ Capital and specialist InsurTech investor Eos Venture ... Read the full article
Almost 90% of re/insurers believe innovation is critical: A.M. Best
25th September 2018
Nearly 90% of re/insurers believe that innovation is critical to the success of their organisation in terms of addressing customers' needs, gaining a competitive advantage, and realising operational efficiencies, according to the results of a new A.M. Best survey. The survey, which questioned more than 450 re/insurers across 48 markets, found ... Read the full article
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