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.
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
Digitalisation will ‘redefine’ insurance claims handling: PwC
12th July 2018
Technology and digitalisation will 'redefine' the insurance claims handling process, and must be better integrated if companies are to harness their benefits and avoid becoming obsolete, according to a new report by PwC. The report urged re/insurers to focus on the opportunities of digitalisation, which will likely remove human involvement from much ... Read the full article
AFL enters partnership with U.S InsurTech start-up OnRisk
11th July 2018
AFL Insurance Brokers has entered into a strategic partnership with OnRisk, a U.S-based InsurTech start-up, to advance new technology for structuring and placing high value property & casualty (P&C) risk. The partnership will see AFL become an early adopter of the OnRisk structuring platform, which facilitates the placement process for risk ... Read the full article
Lloyd’s reveals new digital distribution platform
11th July 2018
The specialist Lloyd’s of London insurance and reinsurance marketplace has launched a new digital distribution platform, called Lloyd’s Bridge, which is designed to more efficiently connect insurance businesses and entrepreneurs with underwriters from the Lloyd’s market. By matching insurers and underwriters, the online Lloyd’s Bridge platform will enable businesses to underwrite ... Read the full article
UK brokers’ market share rises as digital channels engage SMEs
9th July 2018
Data analytics company GlobalData and ABI statistics have reported that UK brokers continue to dominate commercial re/insurance distribution, and grew to an estimated footprint of £1.33 billion over 2017 thanks to the prevalence of digital channels like price comparison websites. Despite the dominance of brokers in the UK market, 2016 marked ... Read the full article
Concirrus updates AI powered Quest Marine software
6th July 2018
InsurTech company Concirrus has released an updated version of its artificial intelligence (AI) powered data analysis software, Quest Marine 2.0, to enable Lloyd’s marine syndicates to remediate their portfolios. Quest Marine is designed to allows re/insurers and brokers to analyse their entire historical portfolio in seconds, using machine learning algorithms that ... Read the full article
Planck Re secures $12mn Series A funding to simplify commercial underwriting
5th July 2018
Planck Re, a 2016-founded startup aimed at simplifying commercial insurance underwriting, has secured $12 million in its Series A funding. The round was led by Arbor Ventures and includes Viola FinTech and Eight Roads. Based in Tel Aviv, Planck Re’s technology mines, ingests, cleans, and updates large amounts of data from ... Read the full article
Re/insurers must remain innovative to seize potential of new tech: Munich Re CEO
5th July 2018
Munich Re’s Chief Executive Officer (CEO), Joachim Wenning has highlighted the potential of new technologies and called for the insurance industry to “keep doing what it has been doing for centuries and remain innovative.” Speaking at the 45th General Assembly of the Geneva Association - a 90-member strong think tank designed ... Read the full article
Reinsurers must innovate to overcome pricing challenges: Hiscox’s McConnell
3rd July 2018
Reinsurers must respond to the challenges of the current pricing environment by innovatively adapting their portfolios and exposures, their use of technology, and their relationships with clients, according to Megan McConnell, Director of Underwriting, London at Hiscox. McConnell noted that reinsurance rates have not increased to the extent that was anticipated ... Read the full article
“Our DNA is changing”, says Munich Re CIO
3rd July 2018
The 2018 Tech Trend Radar report by Munich Re emphatically underlines the rate at which it expects new technologies to transform customers’ demands and expectations over the next two decades. This trend towards greater-connectivity is one that re/insurers must understand, accept and integrate into its framework into to secure longevity, says ... Read the full article
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