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Solvrays and Penn River Partner to Transform Life and Annuities Back-Office Operations Through AI-Driven Orchestration

Solvrays, a leader in AI-powered workflow orchestration for insurance operations, has announced a strategic partnership with Penn River, a cloud-native life and annuities policy administration platform. The collaboration aims to help carriers eliminate back-office friction and accelerate key operational functions such as correspondence generation through intelligent automation.

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Conferences

Insurance Office of America Secures Strategic Investment from Madison Dearborn Partners and Navacord

Insurance Office of America, has announced a significant new investment partnership involving its producers and employees, alongside strategic investments from Madison Dearborn Partners (MDP), a leading private equity firm, and Navacord Corp., one of Canada’s largest and fastest-growing multi-line insurance brokerages and financial services firms.

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Product Launches

Sixfold Launches Referral Agent to Transform Underwriting with AI-Driven Action

Sixfold, the underwriting AI company, has announced the expansion of its property and casualty platform with the launch of Referral Agent, a new solution designed to move beyond delivering insights and into taking instant underwriting action. The release marks a significant step toward reducing one of the most time-consuming pain points in underwriting and enabling insurers to accelerate decision-making.

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Zurich and YAS Launch AI-Driven Insurance Program for Hong Kong Taxi Drivers

Zurich Insurance Hong Kong has partnered with YAS Insurance to introduce a new insurance program tailored for electric and hybrid taxi drivers in the city. The initiative harnesses YAS’s AI-powered TAXY platform to monitor driving behaviour and reward safe practices, with the aim of raising safety and operational standards across Hong Kong’s taxi sector.

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Funding

Thought Leadership

Acquisitions

Ambac Financial Group to Acquire ArmadaCare for $250 Million

Ambac Financial Group, Inc. announced that it has entered into a definitive agreement to acquire ArmadaCare, a leading supplemental health insurance program manager, from SiriusPoint Ltd. for $250 million. The transaction marks a significant step in Ambac’s strategy to expand its specialty insurance platform and diversify its product portfolio.

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Leadership Changes

Ryan Gill Appointed CEO of Bspoke Group as Business Enters New Chapter

Bspoke Group has appointed Ryan Gill as its new Chief Executive Officer, marking the first major leadership change since the company was acquired by NFP, an Aon company. Gill, who previously served as Chief Commercial Officer, succeeds Tim Smyth. Smyth will take on the role of Deputy Chair, focusing on strategy and long-term opportunities under NFP ownership.

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USAA Names Rob Arena President of Life Insurance Company

USAA has appointed Rob Arena as President of USAA Life Insurance Company, effective January 5, 2026. Arena brings more than three decades of experience in life insurance, retirement solutions and asset management, as well as a personal connection to USAA’s mission and values.

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Technology

AI

Industry Trends

AI Regulation Divide Poses Growing Risks for Insurers, say Leaders

The UK and US collective decision not to sign a global AI declaration, underscores a growing division over international regulation and raises concerns about the emerging risks of unregulated AI, say insurance business leaders. Insurtech Insights gets the lowdown from Mark Kirby, Professional Services Director at Intersys Ltd. and Risto Rossar, Founder and CEO of Insly.

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