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.

TigerRisk & Willis Re partner to develop reinsurance placement platform

6th October 2017

Two global reinsurance brokerages are joining forces to advance the development of a reinsurance placement platform. Willis Re is joining with TigerRisk Partners LLC to further develop the globalREmarket (formerly named X-gRm) technology. The pair have formed a new third-party company, RePlace Holding LLC, which will advance the development of the ... Read the full article

AIG and TradeIX partner for blockchain trade finance transactions

5th October 2017

Insurance giant American International Group (AIG) has partnered with specialist technology firm TradeIX to enable firms to access trade finance using a blockchain-enabled platform. AIG and TradeIX have completed the first blockchain-enabled trade finance transaction, for a global logistics company, with financing provided by Standard Chartered plc. AIG, as well as being ... Read the full article

Reinsurers’ opportunity to make underwriting more scientific – Swiss Re CUO

5th October 2017

Swiss Re Group Chief Underwriting Officer (CUO) Edi Schmidt highlighted the need for reinsurers to take a more scientific and forward-looking approach to underwriting to drive down cost of re/insurance at the firm’s 2017 Monte Carlo conference press briefing. “Today we have much more capabilities to use more sources to make ... Read the full article

State Auto launches $25m InsurTech venture fund

29th September 2017

The innovation arm of State Automobile Mutual Insurance, State Auto Labs Corp, has launched a $25 million corporate venture fund, backed by Rev1 Ventures, to connect InsurTech and FinTech startups with capital technologists and insurance industry experts. The aim of the venture is to identify transformation technologies and solutions and invest ... Read the full article

Duperreault says underwriters should be “part actuary, part data scientist:”reports

28th September 2017

AIG's Chief Executive Brian Duperreault highlighted the changing role of the underwriter as an integral part of re/insurance industries adaptation to the "modern era" of AI and technology, saying they need to become "part actuary, part data scientist," in an interview with Asia Nikkei. The skill set required by underwriters ... Read the full article

Boost Insurance raises $3m for InsurTech Development Platform

27th September 2017

Boost Insurance has raised $3 million led by Norwest Venture Partners to set up an InsurTech Development Platform that aims to streamline the go-to-market process for startups. In addition to Norwest, industry investors include program fronting specialist State National Companies, ILS fund manager Nephila Capital, and other VC's IA Capital Group, ... Read the full article

MarketScout launching $25m InsurTech venture investment fund

25th September 2017

Texas-based insurance exchange and managing general agent MarketScout is set to launch an InsurTech venture investment fund, capitalised with $25 million to focus on distribution related opportunities. Richard Kerr, Founder and CEO of MarketScout, commented on the organisations InsurTech venture investment thesis; “MarketScout was founded as a web-enabled insurance exchange back ... Read the full article

Bestow partners with Munich Re to develop life insurtech platform

22nd September 2017

Bestow has partnered with the U.S. life and disability reinsurance division of Munich Re, Munich American Reassurance Company, to develop new life solutions for Bestow's on-demand life insurance platform. The partnership aims to leverage insurtech to redefine how the industry markets insurance through offering consumers a new way to research, buy, ... Read the full article

PartnerRe enters into agreement with FinTech RemitRadar

21st September 2017

Reinsurer PartnerRe has entered into a new joint agreement with RemitRadar to develop digital insurance solutions and provide PartnerRe's clients with access to innovative distribution channels. The new partnership aims to utilise the opportunity to adopt RemitRadar's online channels, as well as its social media channels and artificial technology (AI) to ... Read the full article

AI could “fundamentally close a lot of the protection gap,” Swiss Re CEO Mumenthaler

12th September 2017

The Chief Executive Officer (CEO) of reinsurance giant Swiss Re, Christian Mumenthaler, believes advanced technology, such as artificial intelligence (AI), can help to close the global protection gap. Addressing an audience during the PwC breakfast at the 2017 meeting of the reinsurance industry in Monte-Carlo, Mumenthaler spoke about the increased digitisation ... Read the full article

InsurTech investments up as reinsurers embrace collaboration: PwC

11th September 2017

The global reinsurance industry increasingly views the InsurTech space as an opportunity, as its sentiment shifts from "fear to bullishness" and collaboration replaces scepticism, according to a new survey from PwC. During the second-quarter of 2017 investment in InsurTech by insurers, reinsurers, and also venture capital firms increased by a huge ... Read the full article

B3i launches market testing programme for re/insurance blockchain prototype

11th September 2017

B3i, the blockchain Insurance Industry Initiative, launched a market beta-testing programme for its newly developed blockchain driven platform for reinsurance transactions at the Monte Carlo RVS conference. All insurance industry participants have been invited to join in B3i's market beta-testing programme for the prototype which is set to begin from October. The ... Read the full article

China Continent Insurance Co adopts eBaoTech’s new generation core system

8th September 2017

China Continent Insurance Co (CCIC) has adopted eBaoTech’s micro service and cloud-native architecture based new generation core system to lead its digital transformation. China’s sixth largest insurer said the underwriting and reinsurance systems provided by eBaoTech form important components of the firm’s strategic IT transformation. CICC general manager, Chen Yong, commented; "CCIC ... Read the full article

Drover & Munich Re unit partner to launch product for ride-sharing drivers

7th September 2017

Drover and Munich Re’s Digital Partner have partnered to offer ride-sharing drivers and fleet owners bespoke insurance. Clients will be able to buy, renew and maintain policies online through Drover’s online car marketplace platform. Felix Leuschner, CEO and co-founder of Drover, said; "This partnership between Drover and Munich Re will deliver game-changing ... Read the full article

Maiden Re invests in InsurTech drone start-up, Betterview

7th September 2017

Reinsurer Maiden Re has announced an investment in InsurTech drone start-up, Betterview, which has now closed a $2.05 million Series Seed round. The latest capital raise takes Betterview's total funding to $3.65 million, and was led by Compound Venture Capital, and included investments from Maiden Re, 645 Ventures, Arab Angel, Winklevoss ... Read the full article