LATEST NEWS

We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.

Product Launches

Introducing Lemonade Life

According to the site, coverage is issued by North American Company, a Chicago-based provider of life insurance and annuities that also works with Bestow.

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Funding

Arbol Raises $7 Million in Series A

NY-based insurance platform for parametric products Arbol announced that it has raised ~$7 million in a Series A round that included Finch Finance, Space Capital, and Mubadala Capital-Ventures.

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Thought Leadership

Acquisitions

Leadership Changes

Omni:us Appoints New CTO Jörg Niestroj

Due to ongoing success in delivering intelligent claims management systems to the North American and European insurance markets, former CTO and omni:us founder Harald Gölles will shift to the newly created role of Chief Software Architect and henceforth focus solely on product development.

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Marsh Secures New Affinity Leader for International Division

Marsh has announced the appointment of Phil Hobson as affinity leader for its international division. Effective January 01, Hobson will join Marsh’s international executive committee and report to Flavio Piccolomini, president of Marsh’s international division. Hobson will relocate from Hong Kong to London for the new role.

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Technology

Success of US insurtech firms coming soon to Southeast Asia

With the Covid-19 pandemic accelerating the development of technology, insurance technology (insurtech) is gaining traction. This year, the market has seen the successful initial public offerings of numerous disruptive insurtech players or startups in the US like Lemonade, with Hippo expected to follow next year, and this trend is expected to be repeated in Southeast Asia.

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AI

Which AI Techs are most Valuable in P&C?

Artificial intelligence technologies are everywhere. The great leap forward in AI over the past decade has come along with an explosion of new tech companies, AI deployment across almost every industry sector, and AI capabilities behind the scenes in billions of intelligent devices around the world. What does all of this mean for the personal lines insurance sector?

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Destination AI: Augmented Automated Underwriting and Life Insurance

It’s almost inevitable. Spend your working life identifying, analysing, quantifying and ascribing monetary value to risk, and you’re likely to have a fairly strong aversion to it. Or more accurately, an aversion to undertaking new endeavours with inadequately understood consequences. The insurance industry is, on any number of levels, the very definition of risk-averse

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Industry Trends

Are Investors Still Interested in Insurtech?

Technology continues to be a primary growth driver in insurance dealmaking worldwide. Notable deals completed in 2020 include investments into US-based startup Openly, Belgium’s Keypoint, and yallacompare in the United Arab Emirates.

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InsurTech in the United States of America: A Blossoming Relationship Fuelled by COVID

After a year of economic turmoil, the US emerged from 2020 with its insurtech crown intact. American companies accounted for 39 places in FinTech Global’s InsurTech 100 (2020) – almost double that of its closest competitor. Of the insurtech megarounds completed by the third quarter, 75% took place in the US, with insurtechs flourishing in startup strongholds like Silicon Valley and New York, and across the Midwest and South.

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Bradley Collins

Bradley Collins