Category: InsurTech

July 23, 2024

Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian […]

July 23, 2024

Markel, a global specialty insurer, and MEA, an AI-driven platform for insurers, have announced a new strategic partnership, leveraging MEA’s GenAI solution to enhance its underwriting processes in International Wholesale operations. Martin Henley, CEO at mea platform, said: “We are […]

July 16, 2024

Insurtech funding in Latin America (LatAm) fell to a historic low of $26 million during the first half of 2024, marking a 78% decline from the same period in 2023. Looking at the period between July 2023 – June 2024, […]

July 2, 2024

Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million acquisition enhances Blue Owl’s ability […]

June 24, 2024

Caribbean general insurer, British Caribbean Insurance Company (BCIC) has launched its omnichannel insurance ecosystem built on the San Francisco-domiciled, EIS cloud-native SaaS platform and implemented by EY. The EIS SaaS platform aims to accelerate speed to market and drive efficiency. […]

June 20, 2024

A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. […]

June 19, 2024

Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. PwC serves over 4,000 insurance clients worldwide […]

June 18, 2024

Fitch Ratings, a financial analysis firm operating out of Frankfurt and London, recently announced a notable change in its evaluation of the German non-life insurance sector. The outlook has been elevated from ‘neutral’ to ‘improving,’ driven by expectations of heightened […]

June 13, 2024

CFC, a specialist insurance provider in emerging risks and cyber insurance, has launched its second insurance product for buyers of voluntary carbon credits. The new Carbon Cancellation Insurance safeguards against financial and management risks if purchased carbon credits are cancelled […]

June 13, 2024

UK broker and underwriter Jensten has bolstered its London and South East presence through its acquisition of Chris Knott Insurance Consultants, a broker that specialises in both personal and commercial lines. Subject to regulatory approval, the deal will reportedly introduce […]

June 12, 2024

Following on from last year’s challenging property insurance market, 2024 is proving to be a “more stable and capitalized market,” according to USI Insurance Services. In their latest Commercial Property & Casualty Market Outlook Mid-Year Addendum, USI notes that the […]

June 11, 2024

NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace. MergerSUI offers facultative casualty reinsurance for several lines of business, including […]

June 4, 2024

Global reinsurer Swiss Re has extended its partnership with business automation specialist Appian for the expansion of its Connected Underwriting Life Workbench solution in select countries in Asia-Pacific and Europe, the Middle East, and Africa (EMEA). Launched in North America […]

May 31, 2024

In a recent interview with Reinsurance News, June Quah, Vice President, Integrated Analytics, Munich Re, Canada, discussed the reinsurance giant’s newest digital solution, Automated EHR Summarizer which is set to ensure efficient and accurate use of Electronic Health Record (EHR) […]

May 24, 2024

The latest Global Transaction Solutions Claims Study by Aon and Mergermarket emphasizes the importance of insurers’ claims handling in the transaction solutions insurance market. Despite a slowdown in M&A activity and representations and warranties (R&W) policy placement in 2023, Aon […]

May 21, 2024

International insurance intermediary group Howden has snapped up microinsurance specialist MiCRO, which provides parametric natural disaster insurance to underserved populations in Latin America. The move, according to Howden, underscores its commitment to leveraging insurance as a ‘force for good’, particularly […]

May 20, 2024

National multi-line managing general agent (MGA), Paragon Insurance Holdings LLC, has entered into a partnership with Ascot Group, which is set to leverage both of the organisations strengths and capacities. In its first program partnership, Ascot will support Paragon’s public […]

May 2, 2024

Private flood insurance company Neptune Flood has acquired Charles River Data, a renowned Boston-based data science consulting group, marking a significant milestone in the company’s growth strategy. According to the announcement, this strategic move aims to bolster Neptune Flood’s Triton […]

April 16, 2024

Beat Capital Partners, a London-based venture capital investor that focuses on the insurance industry, announced it is planning to launch a specialty and tech-enabled credit non-payment insurance underwriter. Called “Convergence,” the business is expected to underwrite through a Lloyd’s consortium, […]

March 4, 2024

Inigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets. Inigo plans to utilise Samsara’s […]