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.
Bermuda leading a “ReinsurTech revolution,” say industry experts
11th September 2018
Bermuda could spark a “ReinsurTech revolution” by combining its existing InsurTech capabilities with the island’s reinsurance expertise and regulations, according to panellists at an industry roundtable hosted by AdvantageGo, the commercial re/insurance software platform from NIIT Technologies. Experts agreed that Bermuda’s business environment is more accommodating to innovation than any other ... Read the full article
InsurTech innovations are assisting re/insurance processes: Yoder, Guy Carpenter
10th September 2018
Global Head of Innovation and Product Development at reinsurance broker Guy Carpenter, Claude Yoder, has noted the many challenges and opportunities insurers and reinsurers are facing as a result of the rise of InsurTech. As technology continues to influence the global insurance and reinsurance market, Yoder has called on companies to evaluate ... Read the full article
Tremor’s “smart market” platform is a new nexus for risk transfer: Founder & CEO, Sean Bourgeois
10th September 2018
Tremor Technologies, Inc.'s (Tremor) "smart market" platform can become a new nexus for risk transfer through its use of the latest technology that aims to improve both the efficiency and transparency of the wholesale risk and reinsurance industry, according to Sean Bourgeois, Tremor's Founder and Chief Executive Officer (CEO). Tremor ... Read the full article
Re/insurers must implement InsurTech strategies to compete effectively: PwC
9th September 2018
PwC has highlighted the need for insurers and reinsurers to develop and implement focused InsurTech strategies, in light of advancing technology and the ongoing maturity of the InsurTech space. According to PwC, InsurTechs are impacting the insurance and reinsurance industry in numerous ways, including the transformation of the existing value chain, ... Read the full article
Guy Carpenter launches GC Genesis, an expanded InsurTech advisory service
9th September 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has launched an expanded InsurTech advisory offering called GC Genesis. The new service represents a comprehensive, insurer-centric approach to the evolving space of data, analytics, and digital technology-based solutions, and is designed to go ... Read the full article
General Atlantic’s Verivox acquires digital broker unit of Getsafe InsurTech
5th September 2018
Verivox, the co-owned price comparison site of equity firm General Atlantic, has acquired the insurance broking unit of Getsafe, a German InsurTech start-up backed by Munich Re. Integrating Getsafe’s technology will allow over 8 million Verivox customers to manage all of their insurance policies on Getsafe’s web or mobile app, the ... Read the full article
Munich Re acquires tech firm relayr in IoT push
4th September 2018
Global reinsurance giant Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired technology company relayr, of which it will hold 100% of the shares upon completion. relayr is valued at $300 million, and offers industry participants end-to-end solutions in the area of the Internet of ... Read the full article
InsurTechs still growing despite unsustainable loss ratios: Industry execs
30th August 2018
InsurTech start-ups have continued to record robust premium growth so far in 2018, however, generating a sustainable loss ratio below 100% remains a challenge, according to analysis by two industry executives. A recent article co-authored by Adrian Jones, Head of Strategy & Development at reinsurance giant SCOR, and Matteo Carbone, Founder ... Read the full article
SCOR Global Life partners with health intelligence insurtech HLI
29th August 2018
SCOR Global Life, a division of the France-headquartered reinsurer, has announced a partnership with Human Longevity, Inc (HLI), a provider of in-depth and sophisticated health information services. HLI aims to prevent, reduce or postpone the onset of preventable conditions by combining genome sequencing, machine learning, full-body MRI scans and blood samples ... Read the full article
Travelers acquires majority stake in FinTech start-up Zensurance
23rd August 2018
The Travelers Companies, Inc. has acquired a majority (60%) stake in Zensurance, a Canadian FinTech start-up that helps businesses find and manage their insurance packages, for a price of roughly CAD $16 million (USD $12.3 million), according to BetaKit. Zensurance’s Chief Executive Officer (CEO) Danish Yusuf and Chief Technology Officer (CTO) ... Read the full article
Guy Carpenter and RPC Consulting partner on reinsurance analytics platform
22nd August 2018
Guy Carpenter & Company LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has entered into a multi-year strategic partnership with Reynolds Porter Chamberlain Consulting LLP (RPCC) to license and develop applications for RPCC’s Tyche analytics software. As part of the arrangement, Guy Carpenter will have exclusive ... Read the full article
Shanghai Stock Exchange partners with insurers on new blockchain project
22nd August 2018
The Shanghai Stock Exchange (SSE) has entered into a partnership with a number of major re/insurance industry players, including the Insurance Asset Management Association of China (IAMAC), to improve the efficiency and security of the insurance industry using blockchain technology. Shanghai Securities News reported that the SSE and IAMAC had joined ... Read the full article
IBM Blockchain platform to host new AAIS regulatory solution
20th August 2018
Not-for-profit insurance advisory organisation AAIS is to launch its new openIDL (open Insurance Data Link) product on the public cloud service platform, IBM Blockchain. Designed to help automate insurance regulatory reporting, openIDL hopes to leverage the decentralised, fast and paperless nature of blockchain to turn expensive regulatory and compliance requirements into ... Read the full article
ZhongAn receives overseas InsurTech investment from Softbank Vision
20th August 2018
ZhongAn International, a subsidiary of China’s largest online-only insurer ZhongAn Online P&C Co., has entered into a Shareholder Agreement with Japanese technology & telecoms investor SoftBank Vision Fund to help expand ZhongAn’s InsurTech solutions businesses in overseas markets. The agreement will see ZhongAn establish a new operating entity to partner with SoftBank ... Read the full article
Google’s Alphabet invests $375m in Oscar Health insurtech
16th August 2018
Alphabet has invested $375 million in heath insurtech startup Oscar Health, a deal that sees the Google parent receive a 10% share in the six-year-old, New York-based company. Oscar’s vision of a more streamlined, agile and tailored healthcare experience has struck a chord with investors; a $165 million round of funding ... Read the full article
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