Reinsurance News
Reinsurtech news
Reinsurtech news – Our news on reinsurance technology start-ups and initiatives, covering news on tech adoption within reinsurance, tech start-ups focused on the reinsurance market and other related tech-focused news and analysis.
Scientific progress is expanding the ‘sphere of insurability’: SCOR’s Denis Kessler
19th October 2018
The development of new technologies and scientific research are the key factors driving the growth and transformation of the risk universe, and have required re/insurers to significantly expand their “sphere of insurable risks,” according to Denis Kessler, Chief Executive Officer (CEO) of SCOR. In his opening presentation at SCOR’s 2018 Annual ... Read the full article
Named peril casualty cover is $90bn per year opportunity, says Praedicat CEO
17th October 2018
Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics firm, has claimed that developing named peril casualty cover is currently the biggest opportunity in re/insurance, representing a potential $90 billion annual growth opportunity. Praedicat analyses scientific literature to model more than 60,000 potential disease litigation scenarios, ... Read the full article
“InsurTech is not one size fits all”, says Claude Yoder, Guy Carpenter
17th October 2018
The rise of advanced technology alongside a need throughout the insurance and reinsurance value chain to improve efficiency has created a bourgeoning InsurTech start-up trend, but it’s important to find the right InsurTech fit, according to Claude Yoder, Guy Carpenter. Traditionally, the insurance industry has been slow to adapt and modernise. ... Read the full article
Boost Insurance launches Paladin Cyber InsurTech program
26th September 2018
Boost Insurance, a recently established InsurTech development platform, has announced the launch of its first InsurTech program, Paladin Cyber. Boost said that, by utilising its technology and end-to-end insurance infrastructure, Paladin’s admitted, multi-state SMB cyber program was brought to market in just four and a half months, which compares with an ... Read the full article
Concirrus InsurTech raises £5mn in funding, led by IQ Capital and Eos
25th September 2018
Concirrus, a London-based InsurTech company focused on the Marine and Motor Analytics market, has raised an additional £5 million in equity funding, bringing the total raised to £12 million. The latest round of funding was co-led by Cambridge-based deep tech venture capital firm IQ Capital and specialist InsurTech investor Eos Venture ... Read the full article
Almost 90% of re/insurers believe innovation is critical: A.M. Best
25th September 2018
Nearly 90% of re/insurers believe that innovation is critical to the success of their organisation in terms of addressing customers' needs, gaining a competitive advantage, and realising operational efficiencies, according to the results of a new A.M. Best survey. The survey, which questioned more than 450 re/insurers across 48 markets, found ... Read the full article
Further digital integration key to Lloyd’s efficiency, says COO Khoury-Haq
25th September 2018
Adapting to technological change and better integrating digital capabilities to make placing and processing business more efficient is the key to overcoming the challenges of poor expense ratios at Lloyd’s, according to Chief Operating Officer Shirine Khoury-Haq. Implementation of key parts of the London Target Operating Model (LM TOM), as well ... Read the full article
InsurTech deal count up but investment volume down at Q2: Willis Towers Watson
20th September 2018
The second quarter of 2018 marked a record high for InsurTech deals as a total of 71 funding transactions took place, although the collective investment value of $579 million was down 20% against the prior quarter, according to re/insurance broker Willis Towers Watson. The broker’s Quarterly InsurTech Briefing, produced in collaboration ... Read the full article
Bermuda leading a “ReinsurTech revolution,” say industry experts
11th September 2018
Bermuda could spark a “ReinsurTech revolution” by combining its existing InsurTech capabilities with the island’s reinsurance expertise and regulations, according to panellists at an industry roundtable hosted by AdvantageGo, the commercial re/insurance software platform from NIIT Technologies. Experts agreed that Bermuda’s business environment is more accommodating to innovation than any other ... Read the full article
Tremor’s “smart market” platform is a new nexus for risk transfer: Founder & CEO, Sean Bourgeois
10th September 2018
Tremor Technologies, Inc.'s (Tremor) "smart market" platform can become a new nexus for risk transfer through its use of the latest technology that aims to improve both the efficiency and transparency of the wholesale risk and reinsurance industry, according to Sean Bourgeois, Tremor's Founder and Chief Executive Officer (CEO). Tremor ... Read the full article
Re/insurers must implement InsurTech strategies to compete effectively: PwC
9th September 2018
PwC has highlighted the need for insurers and reinsurers to develop and implement focused InsurTech strategies, in light of advancing technology and the ongoing maturity of the InsurTech space. According to PwC, InsurTechs are impacting the insurance and reinsurance industry in numerous ways, including the transformation of the existing value chain, ... Read the full article
Guy Carpenter launches GC Genesis, an expanded InsurTech advisory service
9th September 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has launched an expanded InsurTech advisory offering called GC Genesis. The new service represents a comprehensive, insurer-centric approach to the evolving space of data, analytics, and digital technology-based solutions, and is designed to go ... Read the full article
InsurTechs still growing despite unsustainable loss ratios: Industry execs
30th August 2018
InsurTech start-ups have continued to record robust premium growth so far in 2018, however, generating a sustainable loss ratio below 100% remains a challenge, according to analysis by two industry executives. A recent article co-authored by Adrian Jones, Head of Strategy & Development at reinsurance giant SCOR, and Matteo Carbone, Founder ... Read the full article
Guy Carpenter and RPC Consulting partner on reinsurance analytics platform
22nd August 2018
Guy Carpenter & Company LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has entered into a multi-year strategic partnership with Reynolds Porter Chamberlain Consulting LLP (RPCC) to license and develop applications for RPCC’s Tyche analytics software. As part of the arrangement, Guy Carpenter will have exclusive ... Read the full article
Shanghai Stock Exchange partners with insurers on new blockchain project
22nd August 2018
The Shanghai Stock Exchange (SSE) has entered into a partnership with a number of major re/insurance industry players, including the Insurance Asset Management Association of China (IAMAC), to improve the efficiency and security of the insurance industry using blockchain technology. Shanghai Securities News reported that the SSE and IAMAC had joined ... Read the full article
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