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 Lemonade expands reinsurance program, now has $325m of cover

1st September 2017

Insurtech start-up insurer Lemonade, one of the most high-profile companies to come out of the insurance technology wave, has recently completed an expansion to its reinsurance program, which sees the firm with a huge $325 million of capacity backing it. Lemonade is utilising reinsurance capital as one of its backers, it ... Read the full article

Reinsurers well-placed for long-term reinsurtech success: S&P

30th August 2017

Reinsurers have been expanding their product range and reach with reinsurtech investments and developments, and are using technology as an interface to pass on risks to the capital markets - factors which show the industry is choosing to embrace and flow with the changes instead of buck the tide of ... Read the full article

Gen Re partners with iXledger on blockchain for life & health insurance

29th August 2017

iXledger and Gen Re have announced a partnership to use blockchain and other technologies to develop life and health insurance cover products. Ross Campbell, Chief Underwriter, Life/Health Research & Development, Gen Re, said; "We are very pleased to have established this strategic collaboration with iXledger to create transformative solutions that better ... Read the full article

Hiscox partners with tech start-up Digital Fineprint

25th August 2017

Specialist insurer Hiscox has partnered with tech start-up Digital Fineprint to investigate how data from social media can be used to educate small businesses on their risks and respective insurance solutions. Hiscox said many small businesses are underinsured yet face a number of business interruption risks from expensive lawsuits or costs ... Read the full article

AXIS Capital targets insurtech in Plug and Play accelerator partnership

24th August 2017

Bermuda headquartered global insurance and reinsurance firm AXIS Capital Holdings Limited has announced a partnership with Silicon Valley start-up accelerator Plug and Play as it targets a deeper involvement in helping to develop InsurTech start-ups. By participating in Plug and Play’s InsurTech platform, AXIS will get to work alongside leading digital ... Read the full article

Sompo rolls out London Market systems integration platform

21st August 2017

Sompo International has rolled out a new platform for systems and data integration in the London Market, Guidewire PolicyCenter’s underwriting and policy management solution, the Global Commercial Accelerator. Guideware Software - a provider of software products to general insurers - was selected by Sompo as part of its global effort to ... Read the full article

Verisk acquires re/insurance software specialist Sequel

21st August 2017

Verisk Analytics said it is to acquire commercial and specialty insurance and reinsurance software specialists, in a deal expected to further expand Verisk's offerings and give the firm a stronger foothold in the London market. Verisk is set to acquire Sequel for £250 million from HgCapital and other Sequel investors. Sequel ... Read the full article

Reinsurers welcomed HCI’s use of tech to increase transparency during Matthew

18th August 2017

Paresh Patel, the Chairman and Chief Executive Officer (CEO) of HCI Group, Inc. has revealed how the company's adoption and utilisation of technology turned out to be a big differentiator during hurricane Matthew, raising the homeowners' insurers profile while provide its reinsurers with welcomed transparency. Speaking during the company's second-quarter 2017 ... Read the full article

InsurTechs won’t be able to disrupt the entire industry: Munich Re’s Jeworrek

14th August 2017

As a flurry of InsurTech and FinTech startups continue to enter the global insurance and reinsurance industry, undoubtedly some will be very good and should be promoted for the industry, however, they will not be able to disrupt the entire risk transfer space, according to Torsten Jeworrek, Munich Re's Chief ... Read the full article

Spinnaker selects TigerEye platform to structure reinsurance portfolio

11th August 2017

Spinnaker has chosen to use TigerRisk Partners’ TigerEye® platform to help the company structure its reinsurance portfolio and support its existing underwriting strategy, particularly for catastrophe exposure management. TigerEye is a portfolio roll-up and reinsurance structuring tool, created by the reinsurance broker and capital advisor TigerRisk Partners, that helps insurers make data-driven ... Read the full article

Swiss Re & Wellthy Therapeutics partner to improve access to diabetes insurance

10th August 2017

Reinsurance giant Swiss Re is to partner with Indian digital therapeutics firm, Wellthy Therapeutics, in order to develop more accessible, affordable and effective insurance solutions for people with Type 2 Diabetes. Based in Mumbai, India, Wellthy Therapeutics is one of five companies selected as part of Swiss Re's InsurTech Accelerator programme ... Read the full article

Big data to transform consumer proposition through bespoke coverage

2nd August 2017

There are many ways big data and technology promise to revolutionise the re/insurance process and policies, but for the consumer, possibly one of the biggest transformations will come from re/insurers' ability to offer a product that’s tailor-made to individual use as technological advances increase data volume and analytics. As growing databases ... Read the full article

Clients to take more control of products & distribution: W.R. Berkley CEO

1st August 2017

The concerning yet still attractive reinsurance marketplace is going through unprecedented change supported by the rise of InsurTech, and the future of the industry will see customers take more control over the evolution of both products and distribution, according to Robert Berkley, President and Chief Executive Officer (CEO) of W.R. ... Read the full article

Allianz and InsurTech start-up Flock announce pay-as-you fly drone cover

1st August 2017

Allianz and InsurTech start-up Flock have announced the soon to come launch of the UK's first pay-as-you fly drone insurance that can be tailored to each flight through the Flock app and provides up to £10 million liability cover. The pay-as-you-fly drone insurance is the first product to be launched by ... Read the full article

Potential for Africa to be a leader in digital insurance: Allianz

28th July 2017

The African risk transfer industry has the potential to transition itself into a global digital insurance leader, driven by customer demand for innovative solutions and favourable rules and regulations, according to Allianz Chief Executive Officer (CEO), Oliver Bäte. Speaking at the 44th annual Insurance Conference in Sun City, South Africa, the Allianz CEO ... Read the full article