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.
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
Ecosystems a “huge opportunity for insurers who can react fast”: McKinsey
19th January 2018
The rise of ecosystems is a "huge opportunity for insurers who can react fast" with those who can respond quickly to the changes required by the digital technology era being most likely to gain a competitive advantage over their counterparts, said McKinsey & Company in a report on the rise ... Read the full article
Aioi Nissay Dowa to acquire remaining shares in Box Innovation
19th January 2018
Part of MS&AD, Aioi Nissay Dowa Insurance Europe (the ANDIE Group), has revealed plans to acquire the remaining 24.99% of shares in Box Innovation Group Limited (BIGL), with plans to fully integrate the business within the ANDIE Group sometime during 2018. The ANDIE Group acquired 75.01% of the shares in BIGL, ... Read the full article
JLT Re launches economic capital modelling solution ANSER
19th January 2018
Reinsurance broker JLT Re has launched its own economic capital modelling solution for clients, named ANSER, ANalytics Software for the Evaluation of Risk. ANSER has been developed with the help of Ultimate Risk Solutions (URS), a leading independent economic capital modelling (ECM) software developer and has been designed to provide a ... Read the full article
AI to replace 90% of Mitsui Sumitomo Insurance sales office work in 2018
18th January 2018
90% of Mitsui Sumitomo insurance sales staff office work is set to be replaced by Artificial Intelligence next year, driving an expected 20% reduction in the firm's overall workload. Mitsui Sumitomo Insurance's sales division will use AI for responding to inquiries from customers or agents and processing insurance applications. The implementation of ... Read the full article
Fourth industrial revolution poised to transform re/insurance: Amit Tiwari, Xceedance
18th January 2018
The fourth industrial revolution (4IR) continues to gain traction, resulting in a wave of smart and connected technologies which look set to transform the global insurance and reinsurance industry, according to Amit Tiwari, Chief Technology Officer, Xceedance. In an interview with Reinsurance News, Tiwari discussed re/insurance operations in the era of ... Read the full article
Munich Re partners with insurtech Betterview for drone imagery, analysis, reporting
18th January 2018
Global reinsurance player Munich Re has entered into a partnership with insurance technology and drone start-up Betterview, that will see the Munich Reinsurance America, Inc. unit offering drone imagery, analysis and reporting to its insurance company clients. Munich Re will refer any of its insurance company clients that might benefit from ... Read the full article
Health InsurTech Oscar Health & AXA announce multi-year reinsurance agreement
16th January 2018
Health InsurTech start-up Oscar Health has entered into a multi-year quota share reinsurance arrangement with AXA's International Employee Benefits Division, according to reports. The new deal is designed to assist Oscar Health's growth plans, after the firm increased its individual market presence in the states, according to reports in Healthcare Analytics ... Read the full article
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