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.
InsurTech investment deals reach record high: Willis Towers Watson
23rd May 2018
InsurTech investments have continued to grow, with a record-breaking 66 investment deals worth a total of $724 million recorded during the first quarter of 2018, according to the latest quarterly report from re/insurance broker Willis Towers Watson and CB Insights. Q1 2018 investment volume was only 16% greater than the $624 ... Read the full article
Munich Re backed InsurTech Bestow secures more funding
21st May 2018
Bestow, a Dallas, U.S. domiciled InsurTech company focused on the life insurance sector and which is backed by Munich American Reassurance Company, has announced that it's closed $15 million in Series A funding. The Series A funding was led by Valar Ventures, and included participation from existing investors New Enterprise Associates, Core ... Read the full article
Mobile technology driving re/insurance penetration in Africa, says Lloyd’s Inga Beale
15th May 2018
Inga Beale, Chief Executive Officer (CEO) of Lloyd’s of London, has suggested that mobile technology is key to both supporting economic growth and driving re/insurance penetration across Africa. Although Africa has generally been late in its transition from analogue to digital technologies, the continent has essentially leapfrogged computers and landlines and ... Read the full article
WTW adds machine learning to updated Radar 4.0 pricing tool
14th May 2018
Willis Towers Watson has launched a new version of its Radar pricing software, a product pricing and portfolio management decision tool for re/insurance companies. Radar 4.0 will for the first time utilise a machine learning technique to allow users to build Gradient Boosting Machines (GBMs), and will support the development of ... Read the full article
Boost secures reinsurance capacity for InsurTech development platform
10th May 2018
Boost Insurance has secured a dedicated reinsurance facility to support its B2B InsurTech development platform, led by re/insurance investment manager Nephila Capital with participation from Markel Digital and RenaissanceRe Holdings. Boost plans to manage a program that supports multiple InsurTech start-ups as they enter the property and casualty (P&C) industry across ... Read the full article
QBE invests in machine learning tech firm Hyperscience
9th May 2018
QBE Insurance Group has announced that its venture capital arm, QBE Ventures, has closed an investment into machine learning tech firm Hyperscience, and has entered into an agreement to roll out its solutions across QBE globally. Hyperscience uses artificial intelligence (AI) to develop solutions for automating office work across verticals like ... Read the full article
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
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