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.
RGA to invest in Getsurance via its innovation accelerator, RGAx
8th May 2018
U.S. domiciled life reinsurer, Reinsurance Group of America (RGA) is investing in InsurTech Getsurance through its innovation accelerator subsidiary, RGAx. RGA announced in 2017 that it had entered into a partnership with Getsurance, backing its digital life insurance solution designed to protect individuals with long-term disabilities against the loss of income due to illness ... Read the full article
LMG contracts Charles Taylor to centralise delegated authority data
4th May 2018
The London Market Group (LMG) has contracted Charles Taylor InsureTech Limited to provide a central service to standardise and centralise the collection, validation, processing, and supply of delegated authority data across the market. The agreement aims to enable quick and convenient submissions of risk, premium, and claims data, and is part ... Read the full article
Deloitte, FWD, Zilliqa, and Insurance Market partner on blockchain eco system
4th May 2018
A collaborative partnership consisting of Deloitte, FWD, blockchain platform Zilliqa, and online broker Insurance Market has launched Inmediate, a Singapore-based collaborative eco system for blockchain based re/insurance. The project was conceptualised by Insurance Market, a broker from Singapore that already has established online re/insurance distribution and blockchain expertise. Otbert de Jong, Chief ... Read the full article
Westfield first re/insurer to adopt new Verisk and Duck Creek integration
3rd May 2018
Westfield has become the first re/insurer to take advantage of a new integration developed by Verisk and Duck Creek Technologies, which significantly simplifies the implementation of data and analytics for commercial lines underwriters. The new technology will connect Verisk’s commercial lines underwriting information through Duck Creek Anywhere Managed Integrations, a subscription-based ... Read the full article
PwC works with Early Metrics to scale-up promising InsurTech businesses
3rd May 2018
PwC and Early Metrics, a ratings agency for start-ups and innovative SMEs, are launching a collaborative programme to support high potential scale-up InsurTech businesses by promoting mutually beneficial relationships with established re/insurance organisations. The Scale | InsurTech programme currently consists of nine promising international InsurTech businesses that have been selected to ... Read the full article
Beazley and Weather Decision collaborate to automate claims payment
2nd May 2018
Beazley, a specialist re/insurer and provider of weather-related coverage for event organisers, has partnered with Weather Decision Technologies (WDT) to automate the payment of claims under its Beazley Weather Guard policy. The collaboration will allow Beazley to offer a digitised, personalisable policy that automatically pays policyholders based on the occurrence of ... Read the full article
Beazley partners with Risk Cooperative and Bitfury on blockchain registry
2nd May 2018
Beazley has partnered with Lloyd’s coverholder Risk Cooperative and blockchain technology company Bitfury to develop a blockchain-based risk registry for crisis re/insurance and risk management. The blockchain based-system aims to provide a single source of accurate, real-time information on a policy so that re/insurers and service providers can react more quickly ... Read the full article
Nat Re adopts DXC Technology’s SICS life reinsurance software
30th April 2018
National Reinsurance Corporation of the Philippines (Nat Re) has selected DXC Technology’s SICS software to support the operational efficiency of its life reinsurance business. DXC, which is an independent, global end-to-end IT services company, will work with Nat Re to implement SICS, which is a standardised solution designed specifically for assumed ... Read the full article
Ed partners with InsurTech analytics firm SpatialKey
30th April 2018
Global re/insurance, wholesale, and specialty broker Ed has entered a partnership with SpatialKey, a geospatial data enrichment and analytics firm that provides solutions for the insurance and reinsurance industry. Ed believes the partnership will strengthen its data and analytics capabilities by allowing it to access SpatialKey’s advanced geospatial analytics technology. SpatialKey’s software ... Read the full article
Online underwriting platforms may not hold up in court, warns Clyde & Co
30th April 2018
Global law firm Clyde & Co has warned that poorly designed and operated online underwriting platforms can threaten a re/insurer’s ability to defend itself in court. The firm claimed that it is critical that re/insurers review the manner in which these platforms issue documentation and collect information on risks, as these ... Read the full article
ANZ, Suncorp, IBM collaborate on blockchain solutions for re/insurance
30th April 2018
ANZ and Suncorp New Zealand have announced plans to collaborate with IBM on developing blockchain solutions for the re/insurance market in New Zealand (NZ). The parties aim to leverage distributed ledger technology to help make data transfer and payment reconciliation processes between brokers and re/insurers faster and more transparent. The collaborative project ... Read the full article
Viability of blockchain tech dependent on handful of industry leaders: Fitch
27th April 2018
Fitch Ratings has asserted that although the implementation of blockchain technology offers many benefits for re/insurers in terms of cost, security and efficiency, it does not address any immediate crisis and its viability will thus be dependent on adoption by a select group of industry leaders. Fitch claimed that, currently, most ... Read the full article
Digital disruption could cost re/insurers 40% of revenue within 5 years: Accenture
26th April 2018
Accenture, a global management consulting company, has suggested that re/insurers are unprepared for the scale of potential digital disruption, and claims that some carriers could lose up to 40% of their traditional revenue within the next five years. The consultancy’s research indicated that, whilst re/insurance has so far been one of ... Read the full article
Tokio Marine Kiln partners with Australian InsurTech firm Evari
25th April 2018
Tokio Marine Kiln (TMK) has entered a strategic agreement with Australian InsurTech firm Evari, which will allow TMK to access Evari’s digital re/insurance platform and on-demand products in the Australian market. Evari offers re/insurance products for small-to-medium enterprises (SMEs) that monitor a business’s accounting system and data through the cloud, allowing ... Read the full article
Marsh and IBM to streamline proof of insurance with blockchain tech
25th April 2018
Insurance broker Marsh has announced a collaborative partnership with IBM, ACORD, and ISN, which will leverage blockchain technology to provide commercial solutions for proof of insurance. The companies believe blockchain technology will streamline the certificate of insurance process, which is currently manual, and allow clients to more easily hire contractors and ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
