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Category: InsurTech

InsurTech


Financial, InsurTech, Risk Management

Insurtech Root Inc. Results Improve but Remain at a Net Loss

February 22, 2024

Via: Insurance Journal

Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and […]


InsurTech

European insurance industry accelerates digitalisation efforts amid recession concerns: ISG

February 20, 2024

Via: Reinsurance News

In response to the looming threat of recession, European insurance industry leaders are doubling down on their digitalisation initiatives to enhance customer experiences and streamline operations, according to a recent survey conducted by Information Services Group (ISG). The survey, titled […]


InsurTech

Descartes launches cyber risk parametric solution in France

February 1, 2024

Via: Reinsurance News

Insurtech Descartes has announced the launch of Cyber Shutdown Cover, a parametric solution dedicated to cyber risk in France. This new solution demonstrates the firm’s ambition to gradually extend its scope to emerging risks beyond just natural hazards. “Our research […]


InsurTech

Majority of insurance organizations considering tech upgrades

January 23, 2024

Via: Insurance Business

An in-depth analysis conducted by Novidea, a provider of cloud-based, data-driven insurance management platforms, found 75% of insurance organizations worldwide are gearing up to embrace new core insurance management platforms within the next two years. This revelation comes from the […]


InsurTech

What’s happening with reinsurance tech?

January 12, 2024

Via: Insurance Business

Reinsurance tech firm Supercede has unveiled data highlighting trends in the reinsurance industry, particularly regarding the adoption of digital solutions, all of which are particularly relevant during the January 2024 reinsurance renewal period, a crucial time for the industry. The […]


InsurTech

Marsh launches AI-powered risk financing solution, ReadyCell

January 8, 2024

Via: Reinsurance News

Marsh, an insurance broker, risk advisor, and business of Marsh McLennan, has launched ReadyCell, a risk financing solution that “enables organisations of all sizes to quickly open their own insurance company and take greater control of their risk management.” Marsh […]


InsurTech

People Moves: Stirk to Join Marsh as US Chief Growth Officer; Liberty Mutual Grows Cyber Team

January 4, 2024

Via: Insurance Journal

Marsh, a business of Marsh McLennan headquartered in New York, hired Andy Stirk as U.S. chief growth officer effective January 16. Stirk is based in New York. With 20 years of insurance industry experience, Stirk rejoins Marsh from Ascot Group, […]


InsurTech

Novidea launches insurance management platform in Southeast Asia

December 8, 2023

Via: Reinsurance News

Global insurtech Novidea has announced the launch of its insurance management platform in Southeast Asia to meet escalating demand for digital transformation in the region. With its open API architecture, Novidea enables brokers, agents, MGAs/MGUs, and carriers to modernise and […]


InsurTech

Applying GenAI can improve loss ratios and interaction across the market

December 8, 2023

Via: Reinsurance News

As GenerativeAI (GenAI) continues to expand across the insurance and reinsurance sector, Elad Tsur, Co-Founder and CEO of Planck, explained during a recent interview with Reinsurance News how the technology can play a key advantage in helping to reduce loss […]


InsurTech

Generative AI expected to impact many different insurance lines: Aon

November 22, 2023

Via: Reinsurance News

The insurance market’s overall understanding of generative AI-related risk is still within it’s early stages, but this developing form of the technology is expected to impact many different lines within the sector, such as Technology Errors and Omissions / Cyber, […]


InsurTech

Cytora and Veridion partner to redefine digital risk processing with AI-powered insights

November 16, 2023

Via: Reinsurance News

Cytora, an AI-powered digital risk processing platform, has entered into a strategic partnership with Veridion, a leading provider of AI-powered business data and market intelligence. This collaboration aims to reshape the landscape of commercial insurance underwriting by integrating Veridion’s comprehensive […]


InsurTech

What is the biggest impact insurtech has had on insurance?

November 10, 2023

Via: Insurance Business

From accelerator, to liberator, to equalizer, a variety of attendees at Insuretech Connect’s November conference believed that insurtech has had a role to play in re-shaping the insurance industry, though perhaps not necessarily in the disruptive guise that was originally […]


InsurTech

Three trends influencing a shift in insurtech

November 2, 2023

Via: Insurance Business

The insurance industry has undergone a profound transformation thanks to technology. Innovative digital solutions continue to overhaul inefficiencies and outdated processes, but three trends will influence how the insurtech sector will evolve, one CEO told Insurance Business. According to Jason […]


InsurTech

Verisk Tops Q3 Expectations on Resilient Demand From Insurers

November 1, 2023

Via: Insurance Journal

Verisk Analytics beat market expectations for third-quarter revenue and profit on Wednesday, as more insurance companies used its products to assess risk. The data analytics company’s products cater to insurers across sectors ranging from real estate to manufacturing. Insurance company […]


InsurTech

Insurtech Hippo Lays Off 20% of Employees

October 30, 2023

Via: Insurance Journal

Insurtech Hippo Holdings said it has “initiated an organizational realignment” by laying off about 120 employees, or 20% of its workforce. The company said in a filing with the U.S. Securities and Exchange Commission on Oct. 26 that it expects […]


InsurTech

Hurricane Otis “insurable” loss estimated $10bn to $15bn by CoreLogic

October 27, 2023

Via: Artemis BM

Risk analytics and modelling firm CoreLogic has estimated that the “insurable” loss from hurricane Otis’ category 5 winds onslaught in the Acapulco and surrounding region of Mexico is in the range of $10 billion to as much as $15 billion. […]


InsurTech

Insurtech Startup QuoteWell Comes Out of Stealth With $15M in Series A Funding

October 25, 2023

Via: Insurance Journal

Tech-enabled commercial insurance wholesale brokerage QuoteWell announced its public launch to serve independent retail agents. Founded in 2021, the insurtech said it “helps agents who are often overlooked and given poor customer service due to low premiums associated with their […]


InsurTech

Howden launches Climate Parametrics practice

October 17, 2023

Via: Reinsurance News

Howden has announced the creation of Howden Climate Parametrics, a global practice that “brings together (re)insurance, climate, and data expertise to focus parametric risk transfer solutions on meeting the escalating demand for climate de-risking capabilities across industries, financial markets, and […]


InsurTech

Aon digitises and automates reinsurance claims process with Appian

October 10, 2023

Via: Reinsurance News

Global re/insurance broker Aon has transformed its reinsurance claims processing with the use of The Appian Platform, an AI-powered process platform that helps design, automate, and optimise complex processes. Aon’s Reinsurance Solutions started an operational transformation program in 2018, making […]


InsurTech

Insurtech Reserv raises $20m Series A round to accelerate growth

October 5, 2023

Via: Reinsurance News

Reserv, a leader in AI-driven insurance claims processing, has announced the close of its $20M Series A round of financing to expand its generative AI claims data analysis tools. This latest funding round was co-led by Altai Ventures and Bain […]