We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Playa Vista-based iLife Technologies Inc., a software platform that gives insurance agents and brokers the ability to quickly create their own digital insurance agencies, has received $4 million in seed funding.
P&C and life insurer Farmers Insurance announced it has integrated Zesty.ai ‘s wildfire risk scoring model (Z-FIRE™) into its homeowners insurance underwriting processes – selectively expanding opportunities for coverage for residences located in certain wildfire-risk areas.
Insurance broker Aon’s $30 billion bid for Willis Towers Watson, the biggest ever in the sector, is expected to get the EU antitrust green light later this month or in early July, people familiar with the matter said.
SOMPO Holdings, one of Japan’s largest insurers, is investing an additional $45 million in One Concern, Inc., an AI startup focused on building the global resilience market. The money is part of an expanded partnership between the two companies.
The collaboration will enable a personalized, simplified and connected “digital front door” for Humana Employer Group and Specialty members.
This year, insurtech funding rounds are breaking the pandemic gloom by helping to insert these businesses ”successfully into the insurance value chain”, according to data and analytics company GlobalData.
Chubb, the world’s largest publicly traded property and casualty insurer, has announced the development of its “Pay As You Roam” (PAYR) travel insurance proposition.
International insurance broker Howden has announced the launch of Parhelion, which Howden calls “the world’s first fully sustainable insurer.” Parhelion is targeting a capital raise of $500 million.
Canopius Group has launched its algorithmic underwriting platform, Vave, as an managing general agent.
Baloise Group has launched ‘BaloiseFleet Motor Vehicle’, a new insurance solution that offers companies a wide range of elective options for enhanced protection for their company vehicles.
Former AXA XL Executive Jonathan Beck and Underwriter Richard Spurrier are set to launch a new Specialty Insurance Cell focused on land-based and maritime Kidnap and Ransom, Fine Art, Jewellery and Classic Car risks.
Global insurance brokerage Willis Towers Watson (WTW) has launched Igloo Cloud, a new cloud-based solution that offers “game-changing performance” – with virtually unlimited and flexible computing resources, scalability, and reduced operating costs.
Playa Vista-based iLife Technologies Inc., a software platform that gives insurance agents and brokers the ability to quickly create their own digital insurance agencies, has received $4 million in seed funding.
SOMPO Holdings, one of Japan’s largest insurers, is investing an additional $45 million in One Concern, Inc., an AI startup focused on building the global resilience market. The money is part of an expanded partnership between the two companies.
This year, insurtech funding rounds are breaking the pandemic gloom by helping to insert these businesses ”successfully into the insurance value chain”, according to data and analytics company GlobalData.
Branch Insurance, the all-digital home and auto insurer that moved to Columbus last year, has raised $50 million in venture capital.
Embroker, a digital broker focused on business insurance, aims to become a full-stack insurance carrier – an expansion of its strategy enabled by $100 million in new venture capital financing.
Insurtech start-up Certificial has completed an oversubscribed $5.8mn Series A funding round with investors including IA Capital, Nationwide, Cofounders Capital, Fin VC and Cameron Ventures.
Digital experiences that will not only be efficient and resilient, but they will pay for themselves through improved customer and agent engagement and far greater profitability due to smarter risk selection and greater portfolio management.
While most insurers offered financial relief for customers, a more limited number of insurers launched financial assistance specifically for agents and partners.
This week we spoke with Silvi Wompa Sinclair, group head of portfolio underwriting at Swiss Re Institute, on modern approaches to data, cultural shifts in reinsurance and how incumbent reinsurers can forge effective partnerships with fresh players in the space.
The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely to continue as failures increase, Swiss Re AG said on Tuesday.
In today’s webinar, we explored approaches to modernising underwriting, AI and machine learning solutions and how to embed data-driven solutions into the heart of insurance workflows.
Cyber insurance seems smart but risks increasing criminal behaviour and may be an unsustainable business model.
Insurance broker Aon’s $30 billion bid for Willis Towers Watson, the biggest ever in the sector, is expected to get the EU antitrust green light later this month or in early July, people familiar with the matter said.
USAA is acquiring the insurtech Noblr and will use the company’s usage-based insurance platform for a new offering.
Insurance broker Aon said it will sell some assets to private equity firm Aquiline Capital Partners and tech firm Alight for $1.4 billion, in a bid to get U.S. Department of Justice approval for its merger with Willis Towers Watson.
Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states.
Berkshire Hathaway Inc said on Monday it has taken a $943 million stake in insurance brokerage Aon Plc and sold large portions of its investments in Chevron Corp and Wells Fargo & Co.
Anish Jadav has been appointed Chief Underwriting Officer for AXA XL P&C in the UK, life insurtech Ethos Technologies Inc. has a more than $2bn (£1.4bn) valuation after a $200m funding round, and home insurtech Kin has raised $63.9m in Series C funding.
Insurtech Qlaims has announced a new CEO – but it isn’t saying goodbye to her predecessor.
Insurtech providers Wilbur and BAIS are collaborating to provide improved claims solutions to the global insurance industry
Global re/insurer Chubb has appointed Mark Hammond to the additional role of Deputy Chief Financial Officer, a newly created position.
Global insurer Zurich has appointed Neeren Chauhan as Head of Strategy, Innovation & Business Development for Zurich North America.
There will soon be a new man at the helm of Gallagher’s reinsurance business, Gallagher Re.
Allianz-owned Euler Hermes has appointed Sarah Murrow as CEO of its UK and Ireland business, with effect from 1 June.
Global market research and consulting company Frost and Sullivan rewarded Amodo with a European User-based Insurance Industry Excellence in Best Practices award.
Digital experiences that will not only be efficient and resilient, but they will pay for themselves through improved customer and agent engagement and far greater profitability due to smarter risk selection and greater portfolio management.
This week we spoke with Silvi Wompa Sinclair, group head of portfolio underwriting at Swiss Re Institute, on modern approaches to data, cultural shifts in reinsurance and how incumbent reinsurers can forge effective partnerships with fresh players in the space.
Branch Insurance, the all-digital home and auto insurer that moved to Columbus last year, has raised $50 million in venture capital.
In today’s webinar, we explored approaches to modernising underwriting, AI and machine learning solutions and how to embed data-driven solutions into the heart of insurance workflows.
Cyber insurance seems smart but risks increasing criminal behaviour and may be an unsustainable business model.
This week we spoke with Silvi Wompa Sinclair, group head of portfolio underwriting at Swiss Re Institute, on modern approaches to data, cultural shifts in reinsurance and how incumbent reinsurers can forge effective partnerships with fresh players in the space.
In today’s webinar, we explored approaches to modernising underwriting, AI and machine learning solutions and how to embed data-driven solutions into the heart of insurance workflows.
Companies now have the opportunity to provide personalized, on-demand products to protect clients — without over-insuring them with unneeded policies.
This week, we spoke with Andy Tomlinson, COO of Cuvva, on how customers are losing out in the current motor insurance equation, and how the industry can adapt to more discerning customer expectations.
AI enables insurance providers to offer insurance to a wider range of people and can help create new products for agents to sell.
This week we spoke with Janthana Kaenprakhamroy, CEO of Tapoly, about insuring the gig economy, founding an all-digital MGA and the future of platforms in insurance.
While most insurers offered financial relief for customers, a more limited number of insurers launched financial assistance specifically for agents and partners.
The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely to continue as failures increase, Swiss Re AG said on Tuesday.
Usage-based insurance (UBI) has finally come of age in the US insurance sector. Insurers have spent the last 20 years exploring the potential of telematics with alternating curiosity, commitment, and disillusionment.
The insurtech companies featured on the 2021 Forbes Fintech 50 are innovating in a space that has long been associated with antiquated processes and practices—and lots of paper.
There has been a raft of US insurtechs recently going public, leading to speculation that European insurtechs might follow suit.
Data has always been of high importance to insurance companies when undertaking multiple basic functions. With digital transformation taking over, insurance technology is in the spotlight as a growth concept in the sector.
With world’s largest forum for insurance professionals, Insurtech Insights provides an invaluable platform for networking, new insights and exposure for thought leaders. We are always looking for new partners, content creators, and contributors to create value and deliver exceptional support to Insurtech Insights.
To share your knowledge, simply fill out the form.
