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.
RGA’s innovation accelerator to acquire LOGiQ3 Group
9th January 2018
Reinsurance Group of America's (RGA) innovation accelerator subsidiary, RGAx, has announced an agreement to acquire the LOGiQ3 Group of companies, which includes LOGiQ3Corp., APEXA, Cookhouse Lab, and Tindall Associates Inc. (TAI). The group of companies acquired by RGAx provides technology, consulting, and outsourcing solutions to the life insurance and reinsurance industry in North ... Read the full article
eReinsure adding blockchain service to its reinsurance platform
8th January 2018
eReinsure, a provider of reinsurance related technology solutions, is to offer its clients a blockchain based solution on its widely-used platform, providing users a simple way to embrace distributed ledger technologies. eReinsurer said this morning that its platform was widely used at the renewals, with 6,741 reinsurance professionals at 489 companies ... Read the full article
CLARA raises $11.5mn Series A funding for AI insurtech claims solutions
5th January 2018
Artificial intelligence (AI) and data science company, CLARA Analytics, has announced a $11.5 million Series A funding round led by OAK HC/FT, a venture growth-equity fund investing in Healthcare Information & Services and Financial Services Technology. CLARA builds AI-based solutions that are focused on claims operations for both the property & casualty and ... Read the full article
Milliman launches InsurTech solution for re/insurers loss reserving
3rd January 2018
International consulting and actuarial firm, Milliman, Inc., has announced the release of advanced analytics software for loss reserving for the insurance and reinsurance sector, called Arius® Enterprise. The new cloud-based InsurTech solution enables processes to be streamlined and improves the efficiency for actuarial reserving departments. The new solution is part of the company's Arius ... Read the full article
Amazon reported on verge of insurtech investment in India
2nd January 2018
Online retail and e-commerce giant Amazon is reportedly on the verge of making its first investment in an insurtech start-up, with the company said close to finalising an investment in online-only insurance start-up Acko. Acko wants to disrupt India's insurance industry through a digital-only platform, having raised $30 million and recently ... Read the full article
Swiss Re CEO not convinced on reinsurers acting as venture capital
2nd January 2018
Reinsurance firm Swiss Re's Chief Executive Officer Christian Mumenthaler is not convinced that insurers and reinsurers acting as venture capital funds are doing that right thing by investing in insurtech start-ups. Speaking to the Financial Times in an interview this week, Mumenthaler is said to be sceptical of ... Read the full article
InsurTech to open up opportunities in historically excluded risks
21st December 2017
Epidemic risk modeller Metabiota predicts that in 2018 insurers will focus more on speed with increased appetite for risk to reach the needed returns and innovation in the InsurTech space will make this possible, opening up opportunities in historically excluded risks such as terrorism and pandemics. Metabiota Head of Data Research ... Read the full article
Governments to help drive InsurTech start-up growth
15th December 2017
Digital initiatives and regulatory exemptions by the Indian, Australian, and Hong Kong governments are expected to spur the development of their local InsurTech start-up sector in coming years, as regimes seek to encourage economic growth through building an environment conducive to tech-innovation. In Clyde & Co's recent report on expectations for ... Read the full article
Lloyd’s names REG as new admin platform for coverholder compliance
15th December 2017
Lloyd's of London has announced its selection of online due diligence and regulatory compliance platform, Regulatory Efficiency Gains (REG), to help manage data and reduce the administrative burden of coverholder compliance. The REG platform will help with capture and maintenance of up-to-date public market data, initially on Lloyd's UK based coverholders, ... Read the full article
InsurTech Quantemplate announces new CEO & £2.5mn of funding
13th December 2017
Quantemplate has appointed industry veteran David Lungren as Chief Executive Officer (CEO) and announced ambitious growth plans after receiving an injection of £2.5 million (US$3.34mn) in new capital from Lake Columbia Partners. The InsurTech provider offers reinsurers data transformation and analytics tools; it boasts a five fold increase in revenue in the ... Read the full article
Reinsurance investment in InsurTech rises to $1 billion in Q217: Valen Analytics
12th December 2017
Reinsurance investment into InsurTech rose to $1 billion in Q2 2017 - an indicator that reinsurers are accelerating the pace of innovation in an industry rife with disruption, according to a report on InsurTech market dynamics by Valen Analytics. After Google, Overstock, and other large platforms tried to enter the re/insurance ... Read the full article
InsurTech Gateway launches as first start-up “accelerator”
4th December 2017
InsurTech Gateway has launched as the first 'InsurTech' accelerator - an enterprise with the aim to leverage expertise and resources from a panel of reinsurers and angel investors from the insurance sector to offer InsurTech start-ups a kickstart into the market. InsurTech Gateway is a co-investment from Hambro Perks and Robert ... Read the full article
Motor premiums must reflect improved safety from tech advances
29th November 2017
Using Tesla as a case in point, GlobalData has underlined the need for motor premium pricing in the UK for owners of vehicles that are equipped with the latest technological advances, such as autopilot, to reflect the improved safety of driving. Elon Musk's U.S. automotive and energy storage company, Tesla, is ... Read the full article
UnipolRe automates internal systems with NIIT Technologies’ Navigator
29th November 2017
UnipolRe has adopted NIIT Technologies' Navigator portal solution - an underwriting platform which delivers full pre-bind workflows with submission and quote administration capabilities. The Navigator system allows UnipolRe to simplify its pre-bind business processes and automatically integrate with its back office post-bind system. Manuela Mangiagalli, Chief Operations Officer (COO) of UnipolRe, said the ... Read the full article
76% expect London re/insurance market to be disrupted in coming decade
23rd November 2017
Barbican Insurance Group, the London-based specialty re/insurance player, is to research and explore trends that will influence and drive the future of the London insurance and reinsurance market. Barbican and Gracechurch Consulting conducted a survey on the future of the London Market focused on innovation and modernisation. The findings show that 76% ... Read the full article
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