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.
B3i targets commercial insurance with Zürich workshop
12th November 2018
The Blockchain Insurance Industry Initiatives’ (B3i) first commercial insurance workshop has taken place in Zürich, a move aimed at identifying and exploring the ways in which blockchain technology can be successfully applied to the value chain. B3i has already overseen the launch of a property catastrophe excess of loss product and ... Read the full article
Bermuda aims to be the world’s insurtech capital: Premier Burt
8th November 2018
Speaking at an event on the island last week, Premier of Bermuda, the Hon. David Burt, JP, MP, explained that as well as being seen as the world's risk capital he would like to see Bermuda take the title of the world's insurtech capital as well. Premier Burt was speaking at ... Read the full article
Anti-fraud start-up Fraugster raises $14mn in funding, backed by Munich Re
8th November 2018
Fraugster, a software company that uses artificial intelligence (AI) to prevent fraud for online retailers, has raised $14 million in a Series B funding round that saw participation from HSB Ventures, the venture capital arm of global reinsurer Munich Re. Munich Re announced in April that it had agreed to ... Read the full article
Chubb partners with Munich Re’s HSB on IoT services
2nd November 2018
Global insurer Chubb has entered into a partnership with Munich Re’s Hartford Steam Boiler Inspection and Insurance Company that will provide the firm’s policyholders with access to Internet of Things (IoT) technology for homes and businesses. The IoT sensors and devices will target the threat of water damage by monitoring for ... Read the full article
Munich Re backed insurtech Ethos raises $35mn in funding
31st October 2018
Ethos, a life insurtech start-up backed by Munich Re and Assurity Life, has raised an additional $35 million in funding from a Series B financing round, led by venture capital firm Accel. Additional investors included Google Ventures (GV), previous investors Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a ... Read the full article
Insurtech unicorns drive insurance tech funding in Q3: CB Insights
30th October 2018
Insurance technology funding in the third-quarter of 2018 was driven by the needs of so-called "unicorns", typically defined as insurtech start-ups valued at over $1 billion, as these high-growth tech companies need capital to drive growth. Start-ups that achieve unicorn status tend to need large amounts of capital to help them ... Read the full article
AI insurtech start-up omni:us secures $22.5mn in funding
30th October 2018
omni:us, an artificial intelligence (AI) powered insurtech start-up, has completed its Series A round of funding and secured a total investment of US $22.5 million, led by Berlin-based venture capital firm Target Global, MMC Ventures and Talis Capital. Existing investors Unbound and Anthemis also participated in the funding, which omni:us said ... Read the full article
Munich Re expands Plug and Play insurtech partnership to China
29th October 2018
Munich Re has entered into a strategic partnership as a Founding Anchor Partner of Plug and Play China, the Chinese business of Plug and Play, a global start-up accelerator and corporate innovation platform. Plug and Play, which is headquartered in Silicon Valley, enables corporations to engage with start-ups that may complement their ... Read the full article
AXA XL, MS Amlin, RFIB among firms testing new insurtech platform
26th October 2018
A consortium of insurance entities including AXA XL, Neon, MS Amlin, RFIB Group, and Antares has formed to test a new platform created by London-based software company Whitespace. Whitespace has built a fully-digital mobile and desktop platform to negotiate, quote and place insurance risks. Since April this consortium have engaged with the company ... Read the full article
Insurtech is the future infrastructure of insurance, says ZhongAn CEO
26th October 2018
A joint report by the recently-launched Fintech Research Institute of China’s largest online-only insurer ZhongAn and the financial advisory firm KPMG claims insurtech will enable a more efficient, compatible, balanced and humane insurance ecosystem. “We look forward to collaborating with all parties in the insurance industry through the construction of InsureTech, ... Read the full article
Hyperion eyes future insurtech investments with new Hyperion X business
24th October 2018
London-headquartered Hyperion Insurance Group has announced the launch of Hyperion X, a new business targeting key areas of data, analytics and digital platform delivery. Led by Barnaby Rugge-Price as Chief Executive Officer and Elliot Richardson as Chairman, Hyperion X will sit alongside its existing broking businesses Howden Broking Group, RKH Specialty, ... Read the full article
Marsh adopts Concirrus’ AI-powered platform to drive marine insights
24th October 2018
Global re/insurance broker Marsh has partnered with the London-based insurtech Concirrus and will adopt the firm’s Quest Marine platform to drive new insights and placement strategies for clients, while identifying new opportunities for digital product development in the marine insurance industry. Quest provides a single web application to allow commercial marine ... Read the full article
London Market Group to deliver next wave of TOM tools
22nd October 2018
The London Market Group (LMG) has signed a contract with Sequel, Verisk’s InsurTech software firm, to deliver new solutions for approving and registering coverholders and generating delegated authority binder contracts. The new integrated tools form part of the London Market Target Operating Model (TOM) and will be designed to offer faster ... Read the full article
Scientific progress is expanding the ‘sphere of insurability’: SCOR’s Denis Kessler
19th October 2018
The development of new technologies and scientific research are the key factors driving the growth and transformation of the risk universe, and have required re/insurers to significantly expand their “sphere of insurable risks,” according to Denis Kessler, Chief Executive Officer (CEO) of SCOR. In his opening presentation at SCOR’s 2018 Annual ... Read the full article
Agile partners with OnRisk InsurTech on P&C structuring platform
18th October 2018
Agile Risk Partners, a London-based MGA start-up, has partnered with OnRisk, a U.S InsurTech start-up, on the development of an advanced, CAD-style platform for underwriting, structuring and distributing high-value property and casualty (P&C) risk. Under the terms of the strategic partnership recently concluded by the parties, Agile will become an ... Read the full article
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