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.
Drone InsurTech firm Betterview develops new AI driven roof analysis product
1st August 2018
Betterview, an insurance technology and drone start-up firm that is backed by Munich Re and Maiden Re, has launched a new product that uses artificial intelligence (AI) to analyse the characteristics and risks of a property and its roof, called Property Profile. Property Profile uses satellite imagery and historical weather data ... Read the full article
Liberty Specialty’s Toredo trading platform underwrites first risk
1st August 2018
Toredo, the web-based platform launched by Liberty Specialty Markets (LSM) earlier this year for the transaction of specialised trade credit insurance, has underwritten its first risk. In March, LSM partnered with The Channel Syndicate and Canopius to form a $27 billion consortium – the London Credit Consortium – to ... Read the full article
AXIS Capital launches new unit dedicated to forging Insurtech partnerships
31st July 2018
Bermudian re/insurance group AXIS Capital has announced the launch of AXIS Digital Ventures, a new data and analytics-focused unit aimed at sourcing Insurtech partnerships in hopes of accessing new technologies with re/insurance applications. Zach Powell, who previously served as Director of Corporate Development at AXIS, has been appointed as the Head ... Read the full article
European insurers among backers of BlackFin, the continent’s largest fintech fund
30th July 2018
A number European insurers have backed BlackFin Capital Partners, now the continents’ largest fintech investment fund. Swiss Life, Securex Insurance and MACIF joined a number of Top-tier institutional investors in a pool that raised €180 million its fintech venture capital fund, BlackFin Tech 1, in its final round. BlackFin has positioned itself ... Read the full article
XL Catlin to offer first on-demand cyber insurance product
25th July 2018
XL Catlin has partnered with cloud-based Insurtech firm Slice Labs to create what it claims to be the first ever on-demand cyber insurance product for small and medium-sized businesses. The subscription and usage-based product will be built on the Slice Insurance Cloud Services platform and is to include services designed to ... Read the full article
Praedicat insurtech firm launches new chemical analysis product
25th July 2018
Praedicat, an InsurTech analytics company, has announced the launch of ChemMeta; a product that provides clients with tools to monitor and evaluate the latest regulatory and environmental information on the chemicals it uses. ChemMeta leverages natural language processing and machine learning to “read” and convert high volumes of toxicology and environmental ... Read the full article
Insurtech positioned to reconfigure insurers’ business models, say analysts
25th July 2018
A rapid evolution over the past three years has shifted the narrative surrounding insurtech startups and positioned insurers to re-calibrate the way we classify the industry and its role in society, says global startup accelerator Startupbootcamp InsurTech (SBC), and multinational professional services network, PwC. SBC says debate was initially focused on ... Read the full article
Tokio Marine co-leads $90mn funding for Metromile start-up
24th July 2018
Tokio Marine Holdings and Intact Financial, a North American property and casualty (P&C) insurer, have co-led a $90 million Series E funding drive for Metromile Inc., a San Francisco based car insurance start-up that utilises a pay-per-mile model and fully automated claims experience. Metromile said it plans to use the funds ... Read the full article
Munich Re’s HSB launches IoT sensors for building owners
24th July 2018
Munich Re member firm The Hartford Steam Boiler (HSB) has launched a new generation of its Sensor Systems solution; sensors and software that connect equipment and facilities through the Internet of Things (IoT). Delivered as a kit for commercial customers, the sensors use proprietary algorithms to help prevent loss and improve ... Read the full article
CoreLogic partners with Esri to expand geospatial content offering
20th July 2018
CoreLogic, a global property information, analytics and solutions provider, has partnered with spatial analytics company Esri to expand the availability of its geospatial content using Esri’s online ArcGIS Marketplace. The online marketplace will allow users to more easily integrate CoreLogic’s content into their workflow, by providing access to more than 200 ... Read the full article
Guy Carpenter announces launch of InsurTech Alliance
18th July 2018
Guy Carpenter & Company, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has announced the launch of InsurTech Alliance, a new insurer-focused suite of capabilities designed to help carriers understand and exploit the data and analytics-driven innovations emerging from InsurTech. The announcement sees Guy Carpenter look to ... Read the full article
REG UK reveals latest RegTech product, Market Monitor
18th July 2018
REG UK, a RegTech solution that streamlines counterparty compliance checks and accelerates agency processes, has announced the launch of its new Market Monitor product. Regtech is the umbrella term for new technologies that facilitate the delivery of regulatory requirements and has grown in prominence since new, customer data-driven industries like FinTech ... Read the full article
“Cultural misalignment” hinders InsurTech innovation: Maffeo, Boost Insurance
17th July 2018
As technology continues to advance and increasingly looks to disrupt the global insurance industry, partnerships between incumbents and InsurTech startups are becoming more and more commonplace, however, cultural misalignment could be hindering innovation across the sector, according to Alex Maffeo, Chief Executive Officer (CEO) and Founder, Boost Insurance. Speaking with Reinsurance ... Read the full article
InsurTech Hippo reports solid growth and expansion of its senior leadership
13th July 2018
California-based InsurTech firm Hippo has recorded solid growth in recent times, tripling its written premiums quarter-over-quarter and with total insured property value now exceeding $10 billion. The InsurTech company has a focus on improving customer experience, and by leveraging its modern home insurance solution, which combines its patented AI framework with ... Read the full article
New blockchain solutions expected from RiskBlock & Accenture partnership
12th July 2018
Blockchain risk management consortium RiskBlock Alliance has confirmed that professional services company Accenture is to become the lead framework architect responsible for building its "production-grade platform" to develop and implement blockchain use cases. Essentially, the platform will enable the development of new blockchain-based tools and products for both policyholders and insurers. “Accenture ... Read the full article
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