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.
Insurance Europe welcomes European Commission’s Fintech Action Plan
15th March 2018
Insurance Europe has welcomed the European Commission’s latest FinTech Action Plan which sets out how the Commission plans to assist Europe in becoming a global hub for FinTech, with EU businesses and investors able to take advantage of the single market, while protecting customers' interests. The plan includes a pan-European label for platforms that will ... Read the full article
Big data, cyber security, and AI top InsurTech trends: Survey
15th March 2018
Top insurance trends where InsurTech is expected to make its mark in the next three years were identified in an Infosys market survey as big data for customer insight and wallet share, cyber security for data protection and compliance, artificial intelligence (AI) for underwriting and automation, and technology for business ... Read the full article
Insurance M&A market more sophisticated as sector boundaries blur: EY
14th March 2018
The insurance merger & acquisitions (M&A) market is becoming increasingly sophisticated as the sector transforms in response to the impact of technological innovation, driving convergence between sectors and the growth of digital ecosystems. Lines in both InsurTech application and investor-types have become blurred as digital ecosystem-based distribution platforms open up industries ... Read the full article
XL Catlin joins InsurTech Asia Association as founding member
13th March 2018
Global insurer and reinsurer XL Catlin has been revealed as one of the founding members of the InsurTech Asia Association, an independent re/insurance industry initiative designed to advance insurance in Asia through the utilisation of insurance technology. XL Catlin has joined as a founding member through the XL Group Ltd company ... Read the full article
Moody’s predicts consolidation and technology will drive industry’s future
12th March 2018
Moody’s has predicted in a recent report that industry consolidation is likely to continue at the scale observed since 2015, and that emerging technologies will transform the insurance and reinsurance business model and create new opportunities. Although it concedes there are fewer obvious targets or combinations for consolidation than in previous ... Read the full article
Greenlight Capital Re launches InsurTech innovation unit
6th March 2018
Specialist property and casualty reinsurer Greenlight Capital Re has launched Greenlight Re Innovations, a new unit set to be head up by Greenlight Re's Chief Operating Officer (COO), Michael Belfatti. The innovation unit's central mission will be to support commerce and personal health and welfare through technology and risk enterprises that ... Read the full article
Munich Re’s ERGO agrees on life portfolio management partnership with IBM
1st March 2018
Munich Re's ERGO has agreed on a life portfolio management partnership in cooperation with IBM Deutschland which will see the insurer migrate the management of its book of six million traditional life insurance contracts to a new IT platform. Clemens Muth, member of the Executive Board of ERGO Group AG responsible for ... Read the full article
Reinsurance one of the most promising professions: Denis Kessler, SCOR
28th February 2018
Denis Kessler, Chairman of the Board of Directors and Chief Executive Officer (CEO) of reinsurer SCOR, recently highlighted a promising future for the global reinsurance industry, driven by the expanding risk landscape, technological advances, and rising demand for protection across the world. Speaking during the France domiciled reinsurer's Q4 2017 earnings ... Read the full article
Argo Pro partners with eBaoTech to streamline core processes
27th February 2018
Argo Pro, a division of Argo Group, has announced a partnership with leading digital-insurance-solutions provider, eBaoTech Corporation, to streamline and modernise Argo Pro’s core insurance processes. Argo Pro will use eBaoTech’s platform to integrate policy administration, claims handling, billing and sales-channel administration, to enhance Argo Pro's management liability products that can ... Read the full article
‘Technology will completely disrupt insurance industry’ warns Kielholz, Swiss Re
26th February 2018
Walter Kielholz, Chairman of Swiss Re, has dedicated a significant portion of his message in the company’s 2017 financial review to cautioning the reinsurance industry on the uncertainties posed by technology. Kielholz cites “digitalization, big data, robotics artificial intelligence” as potential threats to the stability of the industry and suggests ... Read the full article
USAA becomes latest Socotra investor
26th February 2018
USAA has become the latest investor in comprehensive cloud-native insurance core system Socotra, joining previous investors CrunchFund, Founders Fund, Greenoaks Capital, SciFi VC, SV Angel and Vulcan Capital, as well as angel investors Ron Conway, Michael Ovitz and Joe Lonsdale. Terms of the investment were not disclosed. Nathan McKinley, vice president of ... Read the full article
Asia to be a driver of InsurTech and re/insurance growth: Willis Towers Watson
23rd February 2018
As one of the largest underdeveloped re/insurance markets globally Asia remains a key growth region with demand forecast to grow as natural catastrophes become more frequent and intense. Willis Towers Watson’s second annual Asia Insurance Market report highlighted the potential for Asia to become an InsurTech hub and drive global re/insurance ... Read the full article
Swiss Re says “no certainty” SoftBank deal will be consumated
23rd February 2018
Swiss Re said this morning that while it's board is carefully assessing a potential transaction with Japanese tech and telecoms giant SoftBank, there is "no certainty" a common ground will be found and a deal proceed. Swiss Re confirmed recently that it has been in talks with SoftBank about the ... Read the full article
Munich Re and Bosch partner for Industry 4.0 and IoT
22nd February 2018
Global reinsurance giant Munich Re has signed a cooperation agreement with international technology and service company Bosch, in an effort to develop new solutions for connected manufacturing in Industry 4.0. The agreement was signed on February 22nd, 2018 at the Bosch ConnectedWorld conference, and is the first Internet of Things (IoT) ... Read the full article
Cryptocurrencies need regulation before they could materially impact reinsurers: S&P
21st February 2018
As cryptocurrencies gain traction within financial markets, bringing the potential to infiltrate the traditional financial systems and expose re/insurers to the possibility of a bubble burst, S&P stated in a report that cryptocurrencies would need some regulation before they could have a major impact on the financial markets. Analysts believe the ... Read the full article
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