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Category: InsurTech

InsurTech


InsurTech

AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey

June 20, 2024

Via: Insurance Journal

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. […]


InsurTech

Appian collaborates with PwC UK to bring innovative insurance solutions

June 19, 2024

Via: Reinsurance News

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 […]


InsurTech

Fitch upgrades German non-life insurance sector outlook to ‘improving’

June 18, 2024

Via: Reinsurance News

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 […]


InsurTech

CFC launches Carbon Cancellation Insurance

June 13, 2024

Via: Reinsurance News

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 […]


InsurTech

Jensten acquires Chris Knott Insurance Consultants

June 13, 2024

Via: Reinsurance News

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 […]


InsurTech

Commercial property insurance market proving to be more stable & capitalized, says USI

June 12, 2024

Via: Reinsurance News

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 […]


InsurTech

NSM Insurance acquires Strategic Underwriters International

June 11, 2024

Via: Reinsurance News

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 […]


InsurTech

Swiss Re extends partnership for connected life insurance underwriting

June 4, 2024

Via: Insurance Business

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 […]


InsurTech

Automated EHR Summarizer, an effective & efficient tool for life insurance underwriting: Munich Re

May 31, 2024

Via: Reinsurance News

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) […]


InsurTech

Aon study highlights key market differentiator in insurance sector

May 24, 2024

Via: Insurance Business

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 […]


InsurTech

Howden acquires microinsurance specialist

May 21, 2024

Via: Insurance Business

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 […]


InsurTech

Paragon Insurance & Ascot Group partner to deliver client solutions

May 20, 2024

Via: Reinsurance News

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 […]


InsurTech

Neptune Flood to enhance AI-driven flood insurance solutions with new acquisition

May 2, 2024

Via: Reinsurance News

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 […]


InsurTech

Beat Capital Partners to Launch Credit Insurance Business, Naming Pike as CEO

April 16, 2024

Via: Insurance Journal

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, […]


InsurTech

Inigo, Samsara launch data-driven product to revolutionise fleet insurance

March 4, 2024

Via: Reinsurance News

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 […]


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 […]