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 success lies in “identifying scalable niches & looking beyond insurance”: IBM
19th February 2018
Re/insurers should look for opportunities to harness new technologies that increase customer interaction value, improve agility and add flexibility in product development through InsurTechs, IBM advised in a recent study. The banking and transport sectors have already undergone a widespread shift with the ecosystem model smashing traditional paradigms, and whilst being ... Read the full article
Lloyd’s to launch technology Innovation Lab
15th February 2018
Lloyd's of London has announced that it will be launching an Innovation Lab later this year, as the market looks to develop advanced technology solutions to meet its rapidly changing needs. The Innovation Lab will allow Lloyd's to test new concepts, design advanced technology solutions to solve market issues and give ... Read the full article
Munich Re utilises Starmind’s AI to transform knowledge management
13th February 2018
Global reinsurance giant Munich Re is working with Starmind to transform and improve the reinsurer's knowledge management through advanced technology and artificial intelligence (AI). Starmind's technology is designed to expand human ingenuity by applying neuroscientific principles to AI, and reinsurer Munich Re is looking to transform its knowledge management via a ... Read the full article
PartnerRe and Farmers Edge team up to close agricultural insurance gap
13th February 2018
Global reinsurance firm PartnerRe has teamed up with agricultural technology and decision software specialists Farmers Edge in a multi-year partnership that aims to help insurers to close the agricultural insurance gap across all continents. The four-year agreement brings together precision farming technology and agricultural insurance in a deal that the pair ... Read the full article
iXledger and InsChain partner for peer-to-peer insurance in China
13th February 2018
London headquartered blockchain technology startup iXledger, which collaborates with reinsurer GenRe, and Chinese blockchain insurtech start-up InsChain are partnering to bring peer-to-peer insurance products to Chinese consumers. iXledger said that the partnership will enable it to expand its services into China and the region, enabling acceptance of iXledger’s Utility Token, IXT, ... Read the full article
SoftBank investment in Swiss Re would be credit positive: Moody’s
12th February 2018
According to rating agency Moody's, a minority investment from technology, telecommunications and investment giant SoftBank would be credit positive for reinsurer Swiss Re. The news broke last week that Swiss Re and Japanese tech conglomerate SoftBank have been in talks discussing a minority investment in the reinsurer. An intriguing proposition, as ... Read the full article
Swiss Re in talks with SoftBank Group over investment stake
8th February 2018
Zurich headquartered reinsurance giant Swiss Re is in talks with Japanese tech conglomerate and telecommunications specialists SoftBank Group over a minority investment in the reinsurer, the company confirmed late yesterday. The Wall Street Journal broke the news, saying that Swiss Re is in advanced talks to sell SoftBank what could be ... Read the full article
Physical activity a “powerful predictor” of mortality risk: Munich Re
5th February 2018
A Munich Re study has found strong evidence that physical activity, as measured by steps per day, is a powerful predictor of mortality and may be especially effective in identifying high mortality risk for sedentary behaviour. Munich Re assessed the effectiveness of physical activity - as measured by wearable sensors - in ... Read the full article
Digital ecosystems create opportunities for insurer’s expansion in mobility market
1st February 2018
McKinsey & Company highlighted opportunities for insurers to secure their mobility market position through expanding their digital ecosystems at a time when increasing numbers of stakeholders are using the growing digital economy to disrupt traditional players, in a report on digital ecosystems and platforms in insurance. With a passive and limited relationship ... Read the full article
Re/insurers set records for 2017 InsurTech investment
1st February 2018
2017 was a record-setting year for private technology investments by re/insurers, which are leading the way in InsurTech investment after significantly increasing their activity in the market in Q4 2017, according to the fourth Quarterly InsurTech Briefing from Willis Towers Watson in collaboration with CB Insights. Re/insurers have expanded their focus ... Read the full article
Munich Re’s HSB Group leads $16.5mn funding round for AI firm Mnubo
31st January 2018
Led by Munich Re's HSB Group, Mnubo has raised $16.5 million in an oversubscribed Series B financing bid to fund manufacturers' uptake of its SmartObjects IoT Analytics and Data Science solutions. Other investors in the internet of Things (IoT) Data Analytics and Artificial Intelligence (AI) company's funding bid include White Star ... Read the full article
“InsurTech ideas have to win industry approval as well as customer hearts”: Globaldata
26th January 2018
After UK InsurTech and pioneering brand for motor insurance, Guevara, went under - GlobalData analysts highlighted some of the key stumbling blocks of re/insurance start-ups that fail to get off the ground, stating the entity offered ideas the industry isn't yet ready for. As an early entrant into the UK InsurTech ... Read the full article
Munich Re establishes tech-based intelligent insurance centre in Beijing
24th January 2018
Global reinsurance giant Munich Re has announced the establishment of a new technology-based insurance centre in Beijing, China, called Smart Thinking Consulting (Beijing) Company Limited, designed to provide intelligent solutions to its new and existing Chinese business partners. The new centre is based in Beijing's Guomao region, and is home to ... Read the full article
2017 catastrophes a “perfect opportunity” for reinsurers to showcase adaptability
22nd January 2018
Guy Carpenter's Vice Chairman David Priebe called the recent catastrophic events a "perfect opportunity" for reinsurers to showcase their ability to adapt solutions to the unique risk profiles of individual clients, a reminder that the flip side of every major disaster is an opportunity for the innovative and entrepreneurial. 2017's record ... Read the full article
LIIBA sees electronic placement as main re/insurance distribution tool for London
22nd January 2018
London and International Insurance Brokers’ Association (LIIBA) said it is determined to see electronic placement as the "predominant distribution tool" in the London insurance and reinsurance market by the beginning of 2019. Christopher Croft, Chief Executive Officer (CEO) of LIIBA, explained that the organisation is, "Determined to see PPL become the ... Read the full article
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