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.
Tremor Technologies launches programmatic reinsurance marketplace
14th August 2018
Tremor Technologies, Inc., a venture-backed start-up based in Greenwich, Connecticut, has announced that its programmatic risk placement marketplace is now fully operational, with significant buyers and sellers of reinsurance in place. The reinsurance trading platform is designed to establish fair and efficient market prices for reinsurance risks and programs, powered by ... Read the full article
Digitalisation will ‘redefine’ insurance claims handling: PwC
12th July 2018
Technology and digitalisation will 'redefine' the insurance claims handling process, and must be better integrated if companies are to harness their benefits and avoid becoming obsolete, according to a new report by PwC. The report urged re/insurers to focus on the opportunities of digitalisation, which will likely remove human involvement from much ... Read the full article
Reinsurers must innovate to overcome pricing challenges: Hiscox’s McConnell
3rd July 2018
Reinsurers must respond to the challenges of the current pricing environment by innovatively adapting their portfolios and exposures, their use of technology, and their relationships with clients, according to Megan McConnell, Director of Underwriting, London at Hiscox. McConnell noted that reinsurance rates have not increased to the extent that was anticipated ... Read the full article
Munich Re partners with digital insurer ONE on development of new product
28th June 2018
Munich Re has partnered with digital insurer ONE in the development of the new ONE Coach feature, a highly-personalised short-term insurance product based on individual lifestyle and location, in what it claims is the biggest joint-venture in Insurtech history. The feature will use encryption technology to utilise factors such as work ... Read the full article
Product innovation key to MENA insurance penetration: PartnerRe’s Orlando
28th June 2018
The reinsurance industry needs to support insurers in creating and developing new products to address low insurance penetration in the Middle East & North Africa (MENA) region, according to Salvatore Orlando, Head of Middle East, Africa and Russia at PartnerRe. "Low levels of insurance penetration are a global problem, but one ... Read the full article
Re/insurers slow to adopt new tech risk being replaced, says Simplitium’s James Lay
26th June 2018
Re/insurance companies who are slow to adopt the numerous benefits offered by new and emerging technologies are likely to be supplanted by more enterprising firms, according to James Lay, Commercial Director of Insurance Business at Simplitium, a financial services solutions provider. Speaking with Reinsurance News, Lay noted that re/insurers have generally ... Read the full article
Blockchain could allow developing countries to ‘leapfrog’ current tech: Fitch
29th May 2018
Fitch Ratings has suggested that blockchain technology could allow insurers and reinsurers in developing nations to make a faster technological leap than those in more established markets, as they can circumvent current operational systems. In its report, "Blockchain and Insurance - The Trust Machine," Fitch observed that many emerging markets and ... Read the full article
Upgrading technology is top priority for industry leaders: AdvantageGo
23rd May 2018
Upgrading technology is currently the number one concern for re/insurance industry leaders, according to a 2018 InsurTech report by AdvantageGo, the software product family from NIIT Technologies. The report, which surveyed 30 c-suite re/insurance executives from around the world, found that industry leaders are becoming increasingly concerned about the pace at ... Read the full article
InsurTech investment deals reach record high: Willis Towers Watson
23rd May 2018
InsurTech investments have continued to grow, with a record-breaking 66 investment deals worth a total of $724 million recorded during the first quarter of 2018, according to the latest quarterly report from re/insurance broker Willis Towers Watson and CB Insights. Q1 2018 investment volume was only 16% greater than the $624 ... Read the full article
Mobile technology driving re/insurance penetration in Africa, says Lloyd’s Inga Beale
15th May 2018
Inga Beale, Chief Executive Officer (CEO) of Lloyd’s of London, has suggested that mobile technology is key to both supporting economic growth and driving re/insurance penetration across Africa. Although Africa has generally been late in its transition from analogue to digital technologies, the continent has essentially leapfrogged computers and landlines and ... Read the full article
QBE invests in machine learning tech firm Hyperscience
9th May 2018
QBE Insurance Group has announced that its venture capital arm, QBE Ventures, has closed an investment into machine learning tech firm Hyperscience, and has entered into an agreement to roll out its solutions across QBE globally. Hyperscience uses artificial intelligence (AI) to develop solutions for automating office work across verticals like ... Read the full article
Deloitte, FWD, Zilliqa, and Insurance Market partner on blockchain eco system
4th May 2018
A collaborative partnership consisting of Deloitte, FWD, blockchain platform Zilliqa, and online broker Insurance Market has launched Inmediate, a Singapore-based collaborative eco system for blockchain based re/insurance. The project was conceptualised by Insurance Market, a broker from Singapore that already has established online re/insurance distribution and blockchain expertise. Otbert de Jong, Chief ... Read the full article
PwC works with Early Metrics to scale-up promising InsurTech businesses
3rd May 2018
PwC and Early Metrics, a ratings agency for start-ups and innovative SMEs, are launching a collaborative programme to support high potential scale-up InsurTech businesses by promoting mutually beneficial relationships with established re/insurance organisations. The Scale | InsurTech programme currently consists of nine promising international InsurTech businesses that have been selected to ... Read the full article
Beazley partners with Risk Cooperative and Bitfury on blockchain registry
2nd May 2018
Beazley has partnered with Lloyd’s coverholder Risk Cooperative and blockchain technology company Bitfury to develop a blockchain-based risk registry for crisis re/insurance and risk management. The blockchain based-system aims to provide a single source of accurate, real-time information on a policy so that re/insurers and service providers can react more quickly ... Read the full article
Nat Re adopts DXC Technology’s SICS life reinsurance software
30th April 2018
National Reinsurance Corporation of the Philippines (Nat Re) has selected DXC Technology’s SICS software to support the operational efficiency of its life reinsurance business. DXC, which is an independent, global end-to-end IT services company, will work with Nat Re to implement SICS, which is a standardised solution designed specifically for assumed ... Read the full article
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