Category: InsurTech

May 24, 2023

Whether it’s underwriting, claims or customer service, it seems that artificial intelligence is top of mind for the insurance industry right now. William Bennett, partner at law firm Saxe, Doernberger & Vita, said on this episode of The Insuring Cyber […]

May 17, 2023

Wefox Holding AG, an insurance-technology firm based in Berlin, raised $110 million to build a platform that will make its technology available to other insurers. JPMorgan Chase & Co. and Barclays Plc provided half the funds as a revolving credit […]

May 11, 2023

Insurtech funding increased nearly 38% from Q4 2022 to Q1 2023, from about $1 billion to about $1.4 billion, according to a new analysis released by Gallagher Re. The U.S. leads France and the UK as the nation funding the […]

May 5, 2023

New funding for the global insurtech sector rose to $1.39 billion during the first quarter of 2023, according to a new report from Gallagher Re. That’s up from $1.01 billion in the fourth quarter of 2022, the lowest quarterly total […]

April 25, 2023

Applied Underwriters has announced that it is launching EOS, a managing general agent and technology platform for independent agents and brokers. EOS allows agents and brokers to offer the best available healthcare arrangement for their clients’ Medicare needs, Applied said. […]

April 13, 2023

Apollo, the London-based independent specialist re/insurer, announced its new ICX Consortium through its “Apollo ibott 1971” division, which provides data-driven embedded insurance solutions for the fast-growing digital economy. Apollo plans to deploy meaningful lead capacity through the consortium which will […]

April 12, 2023

“I do appreciate the conservative nature of insurance,” Hackett said, speaking with The Insuring Cyber Podcast from the 2023 PLUS Cyber Symposium held this year in New York City. “You know, this is why the industry is still around. It’s […]

March 30, 2023

“The insurance industry is traditionally risk-averse, which can create a barrier to the adoption of new technologies,” according to Thoughtworks domain specialist Davnit Singh (pictured above). In conversation with Insurance Business’s Corporate Risk channel, Singh summed up some of the […]

March 23, 2023

The World Bank has assisted in the structuring of a cyclone reinsurance arrangement to protect Mozambique’s state insurer against the impacts of major storms, working alongside parametric insurtech PULA and managing general agent Africa Specialty Risks (ASR). The US $35 […]

March 15, 2023

Advancements in technology have given new life to the slow, inefficient processes common in the insurance industry. While the influx in AI-operated systems has some employees worried about job security, there are plenty of reasons why human touch is still […]

March 8, 2023

Insurer Swiss Re Corporate Solutions, reinsurance broker Guy Carpenter, and the data technology firm ICEYE have teamed up with New York City government agencies to develop a pilot parametric flood recovery assistance program for low and moderate income households in […]

March 7, 2023

Whatever your feelings are about generative artificial intelligence (AI), ChatGPT believes it can positively impact the insurance industry. The chatbot, which became a global sensation after its launch in November, made a case for itself at a demonstration at the […]

February 28, 2023

ACORD, the global standards-setting body for the insurance industry, has released the results of a survey on the future of insurance. ACORD CEO Bill Pieroni presented the findings of the Insurance 2040: Prospects and Predicaments for Innovation & Value Creation […]

February 14, 2023

Indian fintech startup InsuranceDekho raised $150 million from a clutch of investors led by Goldman Sachs Asset Management, an unusually large investment round that will help it target an under-served domestic market. TVS Capital Funds co-led the equity and debt […]

February 1, 2023

Specialist global insurer Hiscox has partnered with reinsurtech software specialist Supercede for all 2023 outwards reinsurance placements. hiscox-logoAccording to the announcement, this partnership will drive operational efficiencies and simplify complex placements for broker partners. Supercede’s reinsurance tools will allow Hiscox […]

January 27, 2023

Howden CAP, part of Howden Broking, and AXA XL have announced they will collaborate to develop structured credit Application Programming Interfaces (APIs). This development, a Howden spokesperson said, reflects Howden CAP and AXA XL’s commitment to utilise digital platforms to […]

January 23, 2023

North American travelers were plagued by extraordinary travel disruptions over the recent holiday season, compounded by a “once in a generation” winter storm that struck the US. Thousands of flights were disrupted by the megastorm in late December, while a […]

January 5, 2023

Insurtech MGA Loadsure has just guaranteed itself enhanced freight protection offering in the coming year with new capacity backing from Tokio Marine Kiln. Leading specialist international insurer Tokio Marine Kiln has undertaken this partnership with Loadsure to forward one of […]

December 15, 2022

Provider of downtime insurance, Parametrix, is strengthening and expanding its operations in the United States with additional reinsurance capacity. The firm has announced that partners Hannover Re and certain underwriters from Lloyd’s, which includes Tokio Marine Kiln, RenaissanceRe, and Apollo […]

December 2, 2022

A new report by the Bermuda Monetary Authority (BMA) has concluded that use of artificial intelligence and machine learning technologies in the Bermuda re/insurance market is still currently in its infancy, but is set to pick up significantly over the […]