AXA UK has named Willis Towers Watson (WTW) manager David Ovenden (pictured) as the new chief underwriting officer for its commercial business, succeeding long-time executive David Williams, who will be leaving at the end of the year.
BOXX, a cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed USD $10 million (CAD $12.7 million) Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund (CMF), Zurich Insurance Group (Zurich) and SixThirty Ventures.
Ltd (“Brit”) announces the creation and successful proof of concept launch of a proprietary machine learning algorithm designed to accelerate the identification of post catastrophe property damage, based on the use of ultra-high-resolution imagery.
Insurance companies have invested heavily in digital transformation of the claims process, adding a number of self-service features for first notice of loss, the adjustment process, and payment.
Just Insure, a pay-per-mile insurance technology company, has raised $8 million in a funding round.
Aviva, the UK’s leading insurer, today announces the appointment of Andrea Montague as Chief Risk Officer and John Cummings as Chief Information Officer.
Ltd (“Brit”) announces the creation and successful proof of concept launch of a proprietary machine learning algorithm designed to accelerate the identification of post catastrophe property damage, based on the use of ultra-high-resolution imagery.
French startup Alan is better known for its health insurance products — they now insure 200,000 people. But it has been slowly building a superapp for your health and expanding with new services.
Embroker released two new standalone digital insurance products: Cyber Insurance and Commercial Crime Insurance. Embroker insurance products, built digitally from the ground up, are designed for privately held small to medium sized businesses that are being underserved by legacy commercial insurance carriers.
Cover Whale Insurance Solutions Inc., a Rancho Santa Margarita, Calif.-based insurtech, is partnering with excess and surplus lines insurer Everspan Indemnity Insurance Co., to offer a commercial trucking insurance program.
Farmers Insurance today announced plans to use a digitally controlled mobile robot to assist with in-field catastrophe claims handling and non-catastrophe property inspections, helping to improve the safety and efficiency of both while becoming one of the first national P&C insurers to deploy a robotic quadruped.
British visual assessment and disaster recovery startup Tractable has unveiled AI Inspection, a solution that precisely assesses the external condition of a vehicle’s body within minutes.
BOXX, a cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed USD $10 million (CAD $12.7 million) Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund (CMF), Zurich Insurance Group (Zurich) and SixThirty Ventures.
Just Insure, a pay-per-mile insurance technology company, has raised $8 million in a funding round.
bolttech, one of the fastest growing international insurtech unicorns, today announced the extension of its recently-announced US$180 million series A funding round led by Activant Capital Group, bringing the series total to US$210 million. The largest ever Series A round for an insurtech now adds two new strategic investors in bolttech, Singapore-based global investor EDBI (“EDBI”) and Alma Mundi Insurtech Fund, Spain (“Mundi Ventures”).
Insurtech Previsico today announced that it has gained £1.75mil Seed Plus funding, led by Foresight Group,
a listed private equity and infrastructure investment manager, to support the next stage of their product development, including IoT sensors, team expansion and sales growth, in the UK and beyond.
Ascend on Wednesday announced a $5.5 million seed round to further its insurance payments platform that combines financing, collections and payables.
Envelop Risk, a leading data-driven underwriting and risk analytics business, today announced a Series B investment of $130 million led by SoftBank Vision Fund 2.
Insurance companies have invested heavily in digital transformation of the claims process, adding a number of self-service features for first notice of loss, the adjustment process, and payment.
In August of 2021, we interviewed Andrew Toy (President, CTO and Board Member at Clover Health) and here’s what he had to say to our Future50.
“Our first 10 months we worked from a Virgin Active, so we were in a gym working from the lobby,” says 29-year-old Oliver Kent-Braham, speaking from his sleek new London office just a few miles but a world away from where he started.
The FBI reported a 400% increase in cybercrimes in 2020, in part because of the increase in remote work. Among the cybercrimes were two major data breaches: SolarWinds and FireEye, both third-party technology partners hired to protect their clients from data breaches and then becoming victims themselves.
In the immediate aftermath of the COVID-19 lockdowns in early 2020, M&A activity in the insurance industry dropped off as deals were put on “pause” while potential buyers waited to see how the pandemic would affect the availability of capital, target company values, and the ability of the parties and service providers to carry on with the acquisition process.
Those insurance industry disruptors known as insurtechs are more than happy to coexist with brokers.
Moody’s Corp. reported that it has completed its acquisition of RMS, the climate and natural disaster risk modeling and analytics firm.
Willis Towers Watson has entered into an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel.
Insurance broker Willis Towers Watson (WTW) has signed a non-binding agreement to acquire Israel-based insurance broking and consultancy business Leaderim.
Pie Insurance will acquire a regional insurer as it moves forward with a bid of becoming a full-stack insurance carrier.
HazardHub’s risk API service, derived from comprehensive U.S. property and hazard data, enhances the power of the Guidewire Platform.
Global insurer AXA has entered into an agreement with HSBC Insurance (Asia-Pacific) Holdings Ltd over the sale of AXA Insurance Pte Ltd (AXA Singapore) for a total cash consideration of USD 575 million (€487mn).
AXA UK has named Willis Towers Watson (WTW) manager David Ovenden (pictured) as the new chief underwriting officer for its commercial business, succeeding long-time executive David Williams, who will be leaving at the end of the year.
Aviva, the UK’s leading insurer, today announces the appointment of Andrea Montague as Chief Risk Officer and John Cummings as Chief Information Officer.
wefox, a full-stack digital insurance company based in Berlin, has announced the appointment of Peter Huber, formerly Chief Executive Officer (CEO) at Zurich International, as its Chief Insurance Officer.
Sun Life Financial has appointed Alanna Boyd to the newly-created role of senior vice president and chief sustainability officer.
BriteCore, a leading provider of next-generation core platforms for P&C insurers, today announced the appointment of Ray Villeneuve as CEO and the completion of a $20 million Series C financing.
American International Group (NYSE: AIG) today announced that Peter Zaffino, President & Chief Executive Officer, will assume the additional role of Chairman of the Board of Directors, effective January 1, 2022.
Insurance companies have invested heavily in digital transformation of the claims process, adding a number of self-service features for first notice of loss, the adjustment process, and payment.
The insurance industry is the very definition of risk-averse, and that includes the sector’s critical operation of underwriting. Spend a working lifetime identifying, analyzing, quantifying and ascribing monetary value to risk, and one is likely to have a fairly strong aversion to undertaking new endeavors with inadequately understood consequences.
From bogus claims to reputational damage, the ability of synthetic media to seemingly bend reality is an emerging menace with a far reach.
Large insurance companies are lagging in embracing open insurance, despite the fact that the number of challengers in the landscape continues to grow. This is according to new research from management consultancy Innopay.
Global reinsurance broker Gallagher Re has announced the launch of Gallagher Automated Insurance Analytics (GAIA), a proprietary automated analytics platform.
Insurtechs that specialize in cyber risk can take numerous paths — with their future dependent at least in part on their investors’ patience — but not all will survive, experts say.
According to McKinsey, 22 percent of cross-industry enterprises already attribute 5 percent+ of their EBIT to AI. And HBR estimates that AI will add $13 trillion to the global economy over the next decade.
While Artificial Intelligence (AI) has gained traction with enterprises in other industries, insurance providers have been slower to adopt. In 2016, research by Deloitte noted that less than 2 percent of insurance companies were currently investing in artificial intelligence technologies.
The insurance industry is in the early stages of understanding artificial intelligence (AI) algorithmic risks but there are widespread repercussions from technology failures, a white paper produced by Zurich and Microsoft says.
Thanks to four trends, AI can improve efficiency and cycle time and meet policyholder expectations for a streamlined, digital auto claims experience.
Today we spoke with Apollo’s Jeff McCann and Berkley Canada’s Alexandra Spence about what the ‘Amazon’ insurance experience could look like – from embedded insurance to platform ecosystems, distribution is fundamentally changing.
AI-enabled insurance platform NOW has announced a partnership with Hiscox on medical malpractice insurance policies for health care professionals on its direct-to-consumer marketplace.
Those insurance industry disruptors known as insurtechs are more than happy to coexist with brokers.
Insurtechs that specialize in cyber risk can take numerous paths — with their future dependent at least in part on their investors’ patience — but not all will survive, experts say.
Identifying future trends and engaging in risk partnerships on new technologies are at the heart of Munich Re’s strategy
Willis Towers Watson has around $5 billion of capital which could used for acquisitions, its president and incoming chief executive said on Thursday, as the insurance broker prepares for a future as a standalone company.
Property and casualty reinsurers have displayed underwriting discipline during this year’s renewals, continuing with rate corrections that began several years ago, despite the pressures of abundant capacity. Prices continued to harden during the first half of 2021 – albeit with slightly less momentum than last year – in a trend that will likely continue into the January 2022 renewal season.
Swiss Re expects insurance market premium growth to continue, driven by increased exposures, risk awareness and evolving client needs.
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