Tag: InsurTech

October 17, 2023

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 […]

October 5, 2023

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 […]

September 28, 2023

Loadsure, a prominent Insurtech MGA (Managing General Agent), has forged a strategic partnership with WeatherOptics, a leading weather intelligence platform. The collaboration aims to integrate weather intelligence into Loadsure’s risk calculations, bolstering their freight insurance capabilities. Loadsure is known for […]

September 22, 2023

The advent of generative artificial intelligence (AI) has not only transformed the insurance industry’s view on artificial intelligence and machine learning (ML), but it’s also become a driving force for insurtechs to speed up their innovation and develop increasingly adaptive […]

September 18, 2023

Under-fire Israeli insurtech Vesttoo, which is at the heart of a letter of credit (LOC) fraud scandal, is now claiming hundreds of millions of dollars back from its two ousted co-founders, as well as persons that worked to source investors, […]

September 7, 2023

CAPE Analytics, a frontrunner in AI-powered property intelligence, has unveiled an enhanced hail product suite designed to equip property insurers with an all-encompassing toolkit for evaluating and pricing property-level hail risk. Hail has emerged as a growing peril, with annual […]

September 5, 2023

Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, MGA XS Global, and technology provider Safehub, have launched the world’s first sensor-based, parametric reinsurance treaty for earthquake risk. According to the announcement, this treaty marks a new era […]

August 31, 2023

Specialty insurer Beazley has introduced the first admitted parametric tornado disaster benefit insurance for homeowners, in partnership with Sola Technologies and Spinnaker Insurance Company. The innovative Tornado Crisis product leverages National Weather Service (NWS) data to automatically initiate a fast […]

August 25, 2023

In a study involving hundreds of prominent insurance leaders, Waterstreet has revealed a compelling vision of the future of insurance, shedding light on the transformative impact of insurtech innovations, artificial intelligence (AI), machine learning, and blockchain on the industry landscape. […]

August 25, 2023

During its bankruptcy case, beleaguered insurtech Vesttoo has been approved by the court to continue paying its staff, including certain employee benefits and expenses, but at a hearing this week the US Trustee balked at the suggestion terminated staff and […]

August 4, 2023

According to the latest Global InsurTech Report from Gallagher Re, new funding for the insurtech sector decreased to $916.71 million in the second quarter of 2023. This represents a decline of 34% from the previous quarter’s total of $1.39 billion. […]

August 3, 2023

The adoption of generative artificial intelligence (AI) like ChatGPT is projected to take off across the insurance landscape, with one expert putting the timeline at 12 to 18 months. Vikas Bhalla, executive vice president and head of insurance at data […]

August 2, 2023

Gradient AI, a software provider for the insurance industry, has announced a new partnership. American Trucking and Transportation Insurance Company, a Risk Retention Group (ATTIC, RRG), has selected Gradient AI’s claims management solution to enhance their ability to predict claim […]

July 28, 2023

On July 17, 2023, the Innovation, Cybersecurity and Technology (H) Committee of the National Association of Insurance Commissioners (NAIC) released for comment a highly anticipated model bulletin (Model Bulletin) on regulatory expectations for the use of artificial intelligence systems (AI […]

July 21, 2023

HUB International Ltd. (HUB), the Chicago-based insurance brokerage and financial services firm, announced the launch of HUB Franchise Insurance Solutions, a digital platform to help franchisors and franchisees manage their insurance needs in one location. With HUB Franchisee Insurance Solutions, […]

July 18, 2023

Tractable, the London-based insurtech that uses artificial intelligence (AI) for visual claims assessments and disaster recovery, announced a $65M Series E investment led by SoftBank Vision Fund 2. Existing investors Insight Partners and Georgian participated in the round. Tractable said […]

June 26, 2023

Social media can prove a powerful tool to get your insurance business’s message across, but with the positives come some pitfalls. Insurance Business connected with three expert insurance marketers from the Insurance Marketing & Communications Association (IMCA) to find out […]

June 19, 2023

Thinksurance, a Frankfurt, Germany-headquartered insurtech specializing in digital insurance consultations for commercial and industrial clients in Europe, has raised $24 million in new funding. The capital comes from new investors as well as existing shareholders and will enable Thinksurance to […]

June 19, 2023

The African Risk Capacity (ARC) Group has launched a parametric insurance product aimed to help African countries cope with the devastating effects of flooding. This mechanism will provide countries with predictable and rapid financing for early response to cope with […]

June 16, 2023

Global data analytics and technology provider Verisk is expanding its anti-fraud claims solution with artificial intelligence that will enable insurers to identify potential fraud in claims photos with “lightning speed and laser precision.” “Drawing on millions of claims images in […]