Recent

Technology

Electric vehicles: How to address this growing market from an insurance perspective

In recent years, e-mobility has achieved a breakthrough in many markets around the world. The question is no longer if electric vehicles (EVs) are coming and will replace traditional powertrains, but rather how they are coming and when they will take over the largest share of the global powertrain mix. For details on how to differentiate between non-plug-in electric vehicles and plug-in electric vehicles, see below.

August 12, 2022 5:09 pm

Partnerships

Lemonade partners with tech provider for auto insurance

Mitchell, a technology and information provider for the property-casualty claims and collision repair industries, has announced that insurance company Lemonade has selected its claims workflow, automation and total loss products to support Lemonade Car, the insurer’s latest product offering.

August 12, 2022 10:27 am

Product Launch

Parametrix Introduces Downtime Insurance for Content Delivery Networks

The coverage insurance coverage protects businesses from the financial fallout of third-party content delivery network outages.

August 10, 2022 5:48 pm

Partnerships

Betterview Partners with NFPA to Provide Property Wildfire Insights

Betterview (San Francisco), an InsurTech provider of actionable property intelligence to property/casualty insurers, has announced a new relationship with the National Fire Protection Association (NFPA), a Quincy, Mass.-based non-profit organization dedicated to eliminating death, injury, property, and economic loss due to fire, electrical, and related hazards.

August 9, 2022 9:02 pm

Funding

Modern Life Launches to Public with $15M Funding Led by Thrive Capital

Modern Life (New York), a tech-enabled life insurance brokerage for advisors, announced that it has exited stealth with $15M in seed funding. Thrive Capital (New York) led the funding with participation by founders of Hippo, Plaid, Reddit, Flatiron Health, Newfront, At Bay, Vouch, Cedar, and Lattice.

August 9, 2022 7:50 pm

Product Launch

Nationwide, Kinetic deploy wearables for workers comp

Kinetic Insurance, a partnership between Kinetic, a wearable device company, and Nationwide is protecting workers from potentially high-risk activities. Kinetic’s Reflex can reduce injuries by as much as 50%, according to the company.

August 9, 2022 1:10 pm

Product Launches

Parametrix Introduces Downtime Insurance for Content Delivery Networks

The coverage insurance coverage protects businesses from the financial fallout of third-party content delivery network outages.

August 10, 2022 5:48 pm

Nationwide, Kinetic deploy wearables for workers comp

August 9, 2022 1:10 pm

At-Bay Expands Insurance Offerings With Launch of Miscellaneous Professional Liability

At-Bay, the specialty insurance provider for the digital age, today announced the launch of its Miscellaneous Professional Liability (MPL) product, becoming the first to offer an automatically underwritten policy that customizes coverage and pricing across more than 50 diverse classes of business.

August 5, 2022 9:22 am

Swiss Re launches catastrophe bonds investment advisory firm

Swiss Re Insurance-Linked Investment Advisors Corporation is SEC-registered and offers investment management services to qualified investors.

August 4, 2022 3:40 pm

New product recall insurance MGA launches

NuVenture International has launched BluNiche, which is the incubator’s third managing general agent in the UK.

August 4, 2022 3:07 pm

Betterview Launches Catastrophe Response System

The new system, CAT-RS, solves many of insurers’ greatest challenges, by using property-level analytics to support a fast, accurate catastrophe response.

July 8, 2022 2:21 pm

Funding

Modern Life Launches to Public with $15M Funding Led by Thrive Capital

August 9, 2022 7:50 pm

Buying Cyber Insurance Gets Trickier as Attacks Proliferate, Costs Rise

For many businesses, obtaining or renewing cyber insurance has become expensive and arduous.

August 9, 2022 10:36 am

Coalition appoints first-ever CFO, names two more new hires

Cyber insurance and security provider, Coalition, has appointed Jim Young as its first Chief Financial Officer (CFO) after raising $250m in a Series F funding round.

August 8, 2022 4:29 pm

Pie Insurance partners with Talage, Bold Penguin, Tarmika

Pie Insurance has parnered with Talage, Bold Penguin and Tarmika as part of the insurtech’s growth strategy.

August 8, 2022 2:54 pm

Function of Risk Management in Insurance

As nations recover from the pandemic and prepare for the next decade of prosperity, insurance companies must reconsider the strategic role of risk.

August 8, 2022 2:48 pm

Insurtech start-up raises $4 million seed

Business insurance platform Mulberri has announced that it has raised a $4 million series seed led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners.

August 8, 2022 9:40 am

Thought Leadership

Electric vehicles: How to address this growing market from an insurance perspective

August 12, 2022 5:09 pm

P/C insurers in emerging markets at risk as economic recovery slows – S&P

S&P Global Ratings report that persistent pressures from inflation, tightening financial conditions and slower economic growth in China and other markets are likely to cause constraints on operating conditions for property/casualty (P/C) insurers in emerging markets.

August 5, 2022 11:40 am

Vitality: Using technology to transform health insurance

As one of the global leaders in digital health management, Vitality is revolutionising preventative medicine.

August 5, 2022 11:25 am

Data is a key pillar in Digital Transformation

Although the accelerated pace of Covid-19-induced digital disruptions has led to seismic changes in business operations across industries, their impact is expected to be the most pronounced in the financial services and insurance domains.

August 4, 2022 6:01 pm

$170 billion at risk from poor claims experiences – report

Poor claims experiences could put up to $170 billion of insurance premiums at risk in the next five years, with process inefficiencies in underwriting potentially risking another $160 billion over the same period, according to a new report from Accenture.

August 4, 2022 12:55 pm

AXA unveils financial results for first-half of the year

The H1 2022 financial results are in for AXA and CEO Thomas Buberl has credited the insurance giant with delivering “a strong performance in the first half of 2022, reflecting the strength of our operating model in a more challenging environment.”

August 3, 2022 8:33 pm

Acquisitions

Aviva confirms acquisition of Azur’s high-net-worth business

Aviva has signed a binding agreement with the specialist managing general agent Azur Underwriting Ltd to acquire its high-net-worth personal lines business in the UK and Ireland.

August 2, 2022 8:59 pm

Cover Genius acquires Booking Protect

Cover Genius, the insurtech for embedded insurance, announced today its acquisition of Booking Protect, the leading specialist in embedded ticket protection for ticket sellers, platforms and live event companies such as SeatGeek, Spectrix, AudienceView, and Night Out in the US, Zaiko in Japan, See Tickets, Festicket and TicketSource in the UK and OzTix in Australia.

August 1, 2022 10:14 am

Liberty Mutual Insurance Acquires Malaysian Insurer AmGeneral

Liberty Mutual Insurance has completed the acquisition of Malaysian insurer AmGeneral Insurance Berhad, which is expected to make Liberty Mutual the country’s largest auto insurer.

August 1, 2022 10:11 am

Cover Genius Acquires Booking Protect to Expand Reach in Ticketing and Live Entertainment Market

July 25, 2022 12:04 pm

Gallagher announces latest acquisition

American global insurance brokerage and risk management services acquires Australia’s National Insurance Group, extending their geographic reach.

July 14, 2022 1:20 pm

Vertafore Acquires MGA Systems, Expanding and Enhancing Solutions for MGAs

InsurTech leader’s latest acquisition adds deep industry talent and two leading MGA solutions into the Vertafore ecosystem.

July 6, 2022 4:27 pm

Leadership Changes

Chubb announces new head of marine for global markets

Chubb has announced the appointment of David Kirk as head of marine for Chubb Global Markets (CGM), the company’s London market wholesale and specialty business including its Lloyd’s platform. Kirk is currently cargo product head and deputy head of marine at CGM.

July 8, 2022 2:45 pm

Liberty Specialty Markets appoints Parul Kaul-Green as chief digital strategy officer

Liberty Specialty Markets (LSM) has appointed Parul Kaul-Green to the newly created role of chief digital strategy officer, a role that she takes up with immediate effect.

July 5, 2022 11:19 am

BMS appoints Ian Gormley as new UK CEO

Insurance and reinsurance broker firm BMS has appointed Ian Gormley as its new UK CEO.

June 29, 2022 12:57 pm

SCOR announces new Reinsurance chief executive

Allianz and Swiss Re, members of the Insurance Development Forum (IDF), will lead a Tripartite risk transfer project for urban floods in Ghana.

June 17, 2022 10:46 am

Lloyd’s of London re-appoints Carnegie-Brown as chairman

Lloyd’s of London has re-appointed Bruce Carnegie-Brown for his third term as chairman, running from June 2022 until June 2025.

June 16, 2022 4:36 pm

Liberty Mutual names next CIO following McGlennon’s retirement

Liberty Mutual Insurance has named Monica Caldas its next EVP and CIO. Caldas will enter her new role effective January 2023, after James McGlennon retires. The company announced the succession plan in a release today.

June 13, 2022 8:16 pm

Technology

Electric vehicles: How to address this growing market from an insurance perspective

August 12, 2022 5:09 pm

Nationwide, Kinetic deploy wearables for workers comp

August 9, 2022 1:10 pm

AXA unveils financial results for first-half of the year

August 3, 2022 8:33 pm

Chubb: Transforming the world’s insurance industry

A truly global commercial and consumer insurer, Chubb is driving digital transformation across the digital and insurance marketplace globally.

August 3, 2022 6:02 pm

Cowbell Cyber joins Amwins Professional Lines portal

Cowbell Cyber, a provider of cyber insurance for small and medium-sized businesses, has announced the launch of its product on the Amwins Professional Lines portal.

August 3, 2022 1:55 pm

Can Large Insurers Ever Innovate Like Their Insurtech Rivals?

Understanding and defining digital innovation is key to bring about change. In the insurance industry digital transformation has become a requirement to keep up with new Insurtechs in the space.

July 14, 2022 2:15 pm

AI

Phil Edmundson Creates AI-Driven Corvus To Transform Commercial Insurance

Commercial insurance is big business. The global commercial insurance market was valued at $692.33 billion in 2020 and is projected to reach $1.6 trillion billion by 2030, according to Allied Market Research.

June 1, 2022 7:39 pm

An Eye on AI: How the Human Element Plays a Role in Today’s Tech

Artificial intelligence is becoming an increasingly important tool for commercial insurers, but ethical concerns remain.

April 11, 2022 8:53 pm

Gradient AI and Socotra Partner to Provide Intelligent Automation to Insurers Building Underwriting and Claims Solutions

Integrated Solution Leverages Intelligence of Gradient AI’s Vast Dataset of Policies and Claims with Socotra’s Powerful Core Platform.

March 30, 2022 8:22 pm

Clara, Nationwide team up to provide AI in comp

Clara Analytics Inc. on Wednesday announced it will partner with Nationwide Mutual Insurance Co. to provide artificial intelligence technology in the commercial insurance industry for a new program aimed at improving workers compensation claims operations.

February 9, 2022 7:45 pm

How one firm takes insurer’s AI to the next level

For some corporations, using an outside partner to weave new technology into their operations can take months of planning and execution.

February 8, 2022 9:05 pm

AI opens the door to faster claims for home insurance

Insurance technology brings in more innovative solutions for homeowners and insurers with artificial intelligence (AI).

February 3, 2022 5:22 pm

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