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.
MIS launches hail within its GEO tech platform
27th January 2023
InsurTech McKenzie Intelligence Services (MIS), has launched a U.S. market-first product aimed to accelerate incident and claims responses following hailstorm events. With the addition of hail to the Global Events Observer (GEO), insurers and loss ajustor clients will now be able to gain data-driven, actionable insights for hailstorm events, with near ... Read the full article
FutureProof appoints Ram Keralapura as Chief Technology Officer
23rd January 2023
FutureProof, a climate-focused MGA, has appointed Dr. Ram Keralapura as its new Chief Technology Officer. Dr. Keralapura brings nearly two decades of engineering, data science and leadership experience towards the role. Additionally, he also brings a deep level of expertise in cybersecurity, complex risk analysis, and building digital platforms towards the ... Read the full article
RSA makes senior additions to CIO leadership team
19th January 2023
RSA Insurance has announced the additions of Sally Ng and Katie Hermans to it CIO leadership team as Specialty & Commercial Delivery Director and as Head of Technology Risk Management, respectively. Ng will be responsible for driving the technology transformation roadmap for RSA Commercial Lines, Specialty Lines and European businesses. She brings ... Read the full article
Insurtech Joyn Insurance gets $17.7m in Series A funding round
18th January 2023
Insurtech company Joyn Insurance has announced it exceeded its target with a $17.7 million Series A funding round led by OMERS Ventures, with participation from SiriusPoint, ManchesterStory, Cohen Circle, Avanta Ventures and several other private investors. Joyn launched in July of 2021, announcing a key partnership and investment agreement with the ... Read the full article
Parametric flood insurer, FloodFlash launches in the US
17th January 2023
Parametric flood insurer FloodFlash has announced that it has entered into the US insurance market. After a devastating hurricane season in the US, policyholders have been waiting weeks, and in some cases, months, to receive claims to be able to rebuild their businesses and revive local economies. Moreover, in the wake of ... Read the full article
Treefrog partners with Gustavo Loret de Mola for launch of virtual CTO offering
12th January 2023
Bermuda-based Treefrog Consulting, a software development company delivering technology solutions to clients in the international (re)insurance and ILS space, has announced a new partnership with an insurance technology veteran, Gustavo Loret de Mola, for the launch of its latest virtual insurance Chief Technology Officer (CTO) offering. The service is aimed at ... Read the full article
Superscript gets £45m in Series B funding round
11th January 2023
London-based insurtech Superscript has announced the completion of its £45 million ($54m) Series B funding round led by existing investor BHL UK with participation from a new investor, The Hartford. According to Superscript, the funding will be used to further develop the firm's underwriting and broking capabilities, as well as to ... Read the full article
Previsico to leverage €4.3bn Meteosat satellite to deliver better flood forecasts
10th January 2023
Live flood alert Insurtech Previsico is set to leverage the new €4.3bn Meteosat satellite system to deliver even faster and more accurate flood warnings for clients like Zurich, Liberty, and Generali. The insurtech already provides real-time, property-level surface water flood forecasts that enable clients to mitigate flood impacts, which are given ... Read the full article
Duck Creek agrees acquisition by Vista for $2.6bn
9th January 2023
P&C solutions provider Duck Creek Technologies has agreed to be acquired by global investment firm Vista Equity Partners in an all-cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Duck Creek shareholders will receive $19.00 per share in cash, which represents a 46% premium to Duck Creek’s ... Read the full article
bolttech names Jens Schädler new CEO for Europe
6th January 2023
International insurtech bolttech has announced the appointment of Dr. Jens Schädler as Chief Executive Officer (CEO), Europe. He will be succeeding Andrew Cons, whose time at the company has come to an end after four years. Based in Switzerland, Dr. Schädler will provide strategic leadership across bolttech’s Europe operations, driving new and ... Read the full article
CNA Hardy targets tech businesses with new cyber suite launch
5th January 2023
CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets, has launched Technology Package +, the latest addition to its specialist technology product suite. The company stated that Technology Package+ offers a completely updated, comprehensive suite of coverages including advanced cyber cover tailored to the ... Read the full article
Traditional re/insurers well-positioned in difficult tech market: Sprout.ai
21st December 2022
Roi Amir, CEO of insurtech Sprout.ai, has noted that traditional re/insurers that are able to leverage brand and technology will “be the winners” in 2023 and beyond, as tech start-ups continue to struggle amid a huge drop in funding across industries. Amir explained that 2022 has seen tech funding fall across ... Read the full article
B2B fintech Bondaval raises $15 Million in Series A funding round
16th December 2022
London-based B2B fintech Bondaval has raised $15 million in a Series A Round, led by Talis Capital. Investors in the round include existing shareholders Octopus Ventures, Insurtech Gateway, TrueSight, and Expa, as well as new investors, Talis Capital, FJ Labs, and Broadhaven Ventures. Bondaval explains that it will utilise the financing to ... Read the full article
P&C industry hits speedbumps on road to digitalisation: J.D. Power
14th December 2022
Property and Casualty (P&C) insurance has encountered several obstacles on the road to the industry’s digital transformation, a recent study by J.D. Power found. According to the 2022 U.S. Claims Digital Experience Study, overall satisfaction with the digital claims process has declined for a second consecutive year as insurers struggle to ... Read the full article
Accelerant adds Paul Little to its Board of Directors
14th December 2022
Insurtech Accelerant names Protecdiv COO Paul Little to Board of Directors. Little brings more than three decades of leadership and management experience in the insurance, reinsurance and risk analytics industries, towards the role Previously, Little founded and served as President of Maxfield Risk Consulting, where he specialized in risk management and analytics ... Read the full article