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.
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
18 companies join The Institutes RiskBlock Alliance blockchain consortium
21st February 2018
The Institutes RiskBlock Alliance has announced that 18 companies have joined the risk management and insurance industry’s first enterprise-level blockchain consortium. The RiskBlock Alliance seeks to leverage the blockchain to lower industry transaction costs while increasing the speed and security of data transfers among customers, industry stakeholders, and third parties. RiskBlock Alliance ... Read the full article
Insurtech industry board set up with UK government support
21st February 2018
A new Insurtech Board has been set up as part of the Tech City UK and UK government backed Fintech Delivery Panel, to provide a focus on making the UK a key hub for insurance technology start-ups, investing and developments. The Fintech Delivery Panel, which was established at the request of ... Read the full article
Zurich launches UK Innovation Foundry
20th February 2018
Zurich has launched a new initiative to tackle changing customer demands and help drive change throughout its operations, the UK Innovation Foundry, set to be led by Mark Budd, UK Head of Innovation. The Innovation Foundry will progress Zurich’s innovation agenda and support the development of all ideas in a formally coordinated ... Read the full article
AI can deliver more efficient client value: Dan Glaser, MMC
19th February 2018
Marsh & McLennan (MMC) President and Chief Executive Officer (CEO) Dan Glaser discussed the role of Artificial Intelligence (AI) in both disrupting and advancing the re/insurance industry, noting its potential to improve data use and drive more efficient value to customers, in a recent interview with A.M. BestTV. Commenting on how ... Read the full article
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
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