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.
Conning forecasts record levels of M&A activity in 2017
10th April 2017
A record number of M&A transactions in the distribution end of the market, with tech-driven service providers and equity brokers at the forefront of the transaction boom, is predicted for 2017 in investment management firm, Conning’s, annual global insurance M&A study. Insurance brokers and private equity sponsors have been leading the ... Read the full article
Munich Re and Sompo become major investors in insurtech start-up Trov
7th April 2017
Munich Re’s venture capital subsidairy, HSB Ventures, has led a $45 million investment in technology start-up Trov, that will see the reinsurer act as investor and underwriting partner as the start-up expands into Europe, Asia and South Africa, Reuters reported. Japanese insurer Sompo Holdings has joined forces with the German reinsurance ... Read the full article
Big data enables re/insurers to develop new products & models: Insurance Europe
30th March 2017
Technological advances and the rise of big data in the global risk transfer industry enables insurers and reinsurers to develop new solutions and adapt their business models to remain relevant in a rapidly changing world, which should benefit consumers, says Insurance Europe. In response to the European Supervisory Authorities’ (ESAs) joint discussion paper on ... Read the full article
Harnessing big-data essential for re/insurers
17th March 2017
Learning to harness big-data to their benefit is essential for insurers and reinsurers looking to maintain and increase their market shares and profitability, according to Fitch Ratings. The rating agency explains in a new report that those failing to keep pace with technological change and innovation, such as how to leverage ... Read the full article
“Insurance 2.0” an opportunity to build revenue and resilience: Swiss Re
16th March 2017
The fusion and development of emerging and existing technology is expected to transform the international risk landscape and drive an evolution of the global insurance and reinsurance industry, highlighting a need for industry participants to adapt to "Insurance 2.0" or risk missing out, says Swiss Re. "Today, there's enormous potential for change ... Read the full article
Insurance supervisors must understand and adapt to FinTech: IAIS
15th March 2017
The development of innovative FinTech has the potential to disrupt the global insurance and reinsurance industry in numerous ways, highlighting a range of challenges and opportunities for insurance supervisors, says the International Association of Insurance Supervisors (IAIS). In a new report, the IAIS explores the potential disruption the global insurance industry ... Read the full article
Blockchain: Why re/insurers need to take control of their future
14th March 2017
In this contributed article, Tom Johansmeyer, assistant vice president, PCS Strategy and Development, at ISO Claims Analytics, a division of Verisk Insurance Solutions, discusses the need for insurance and reinsurance market participants to engage with the global blockchain community. Blockchain: Why re/insurers need to take control of their future Waiting for a ... Read the full article
Technology and getting closer to the risk key for Munich Re: Doris Höpke
8th March 2017
Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Reinsurancene.ws. Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article
Asian insurance market must embrace the rise of Insurtech
6th March 2017
The rise of technology or Insurtech in the global insurance and reinsurance industry is driving innovations and opportunities in the Asian marketplace as should be embraced rather than avoided, according to industry leaders and experts. Speaking to A.MBestTV at the 2017 Asia CEO Insurance Summit held in Singapore recently, insurance industry ... Read the full article
Re/insurers need to cooperate to realise benefits of Insurtech: Celent
2nd March 2017
Celent - a finance information technology consultancy firm - has highlighted how the insurance and reinsurance sector could benefit from cross-sector collaboration by leveraging the finance sectors' experience of cooperative development and applying R3 earnings to the re/insurance sector. R3 is a membership organization which facilitates exploration of distributed ledger technology ... Read the full article
Ariel Re to use Xuber software across Lloyd’s and Bermuda platforms
1st March 2017
Reinsurance firm Ariel Re, which was recently acquired by Argo Group, is implementing the Xuber for Reinsurers software platform across its Lloyd’s and Bermuda businesses. By adopting the Xuber technology Ariel Re is replacing its existing legacy systems with a single platform that offers end-to-end business processing and financial reporting for ... Read the full article
Technology to bridge re/insurance protection gap: Geneva Association
23rd February 2017
Re/insurance think tank, The Geneva Association, (GA) has released a study revealing how technology's streamlining of re/insurance processes is set to play a pivotal role in bridging the protection gap between insured and economic losses. At around $40 billion, last year’s insured loss estimates rose to their highest figure since four years, ... Read the full article
London Market Group to add reinsurance to PPL trading platform
8th February 2017
The London Market Group has announced plans to revamp its electronic trading platform (PPL) and said it’s looking to expand the lines of business available for trading to include reinsurance. The Group plans to introduce further enhancements to the platform in April, improving functions to make it relevant to all classes ... Read the full article
Iain Davie joins QuanTemplate from QBE Re
6th February 2017
Financial technology firm QuanTemplate Technologies Ltd. has hired Iain Davie from QBE Re as a Senior Solutions Architect, effective immediately. Davie will report to QuanTemplate Co-founder and Chief Executive Officer (CEO), Adrian Rands, and is expected to assist London market clients in gaining benefits through integration technology advances, which aims to ... Read the full article
Reinsurers seek new opportunities as value-chain blurs: S&P
31st January 2017
The value-chain within insurance and reinsurance is blurring, with companies reacting to the highly competitive market environment, new entrants from the InsurTech arena and third-party capital players, but reinsurers are seeking to benefit by securing new opportunities to source risk. Ratings agency Standard & Poor's (S&P) discussed the "blurry value chain" ... Read the full article