We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Verisk’s Extreme Event Solutions group has estimated that insured losses from the September 2024 floods in Czechia, Poland, and Austria will range between EUR 2 billion (US$2.2 billion) and EUR 3 billion (US$3.4 billion).
Coalition, the world’s first Active Insurance provider focused on preventing digital risks, has appointed Tine Simonsen as its Head of Insurance for Continental Europe.
In a groundbreaking move for earthquake preparedness, Liberty Mutual Reinsurance (LM Re) and Safehub have teamed up with the University of California (UC) to introduce the first sensor-triggered parametric earthquake coverage in the United States.
Hippo has announced the expansion of its New Homes Program, increasing access to home insurance in California, Florida, and Texas.
Digital adoption solutions provider Whatfix has raised $125 million in its Series E funding round, pushing its total funding to $264.8 million.
Cytora, a leading digital risk processing platform, has announced a partnership with PriceHubble, an international property data solutions provider, to deliver advanced real estate intelligence to insurers.
Hospitality management platform Kasa Living has partnered with Vertical Insure, an embedded insurance startup, to integrate travel insurance directly into Kasa’s booking system, providing guests with seamless trip protection.
Global reinsurance giant SCOR has launched SCOR Digital Solutions, a new platform designed to integrate and enhance its core Life & Health (L&H) digital tools.
AXA Climate has launched Altitude, a groundbreaking platform designed to assist businesses in measuring climate risks, implementing adaptation strategies, and fulfilling Corporate Sustainability Reporting Directive (CSRD) requirements.
Duck Creek Technologies, a leader in intelligent solutions for property and casualty (P&C) insurance, has launched its new Duck Creek Payments Facilitator, a comprehensive payment solution tailored specifically for the insurance industry.
Leading insurance brokerage Hub International has formed a strategic alliance with MAS Seguros, Mexico’s largest trucking insurance broker, to provide enhanced insurance and risk management services across the US, Canada, and Mexico.
Manulife has announced the adoption of Generative Artificial Intelligence (GenAI) to improve business processes and elevate customer service across Asia, with Singapore as the first market for the rollout
RSA has announced the launch of its latest Financial Risks product, Directors’ and Officers’ (D&O) Protection, expanding its established Professional and Financial Risks portfolio.
The Open Carbon Protocol (OCP) has announced a strategic partnership with Kita, a leading provider of insurance and risk management solutions for the carbon market.
Fathom, a leading provider of catastrophe risk modeling solutions, has launched Global Flood Cat, a comprehensive flood catastrophe model that empowers risk managers to accurately assess financial losses from flood events.
Earnix, a global leader in intelligent decisioning SaaS solutions for the financial services sector, has launched Earnix Lending Plus, a comprehensive AI-powered platform that merges advanced pricing analytics with automated credit risk decisioning.
Nym, a leading Israeli healthtech startup, has secured $47 million in a growth investment round led by PSG.
Bikmo, a leading cycle insurance provider, has announced a new partnership with Cycling UK, the UK’s largest cycling charity.
Insurity, a leading provider of insurance software, has introduced a new AI-powered document intelligence solution designed to streamline data extraction processes for insurers and MGAs.
Willis Towers Watson has announced plans to sell its direct-to-consumer insurance distribution business, Tranzact, to private equity firm GTCR for US$632.4 million.
UK-based insurance company Ripe Thinking has announced the acquisition of GJW Direct, a specialist in non-commercial marine insurance, from Munich Re Specialty. The deal is expected to be finalised in the first half of 2025.
Cyber insurance provider Cowbell has strengthened its leadership team as it prepares for significant growth.
A new global survey conducted by Chubb, a leading insurance provider, has revealed that cyber scams are significantly impacting consumer trust in digital payments.
Miller, a leading specialist re/insurance broker, has finalized its acquisition of Bruzon Correduría de Seguros y Reaseguros, a Madrid-based commercial insurance broker.
As cybercrime continues to target business travelers around the world, BOXX Insurance Inc., a global leader in cyber insurance and security, has partnered with World Travel Protection (WTP), part of the Cover-More Group, to introduce Cyber Assist, a cutting-edge cyber protection tool designed to safeguard business travelers from emerging online threats.
Cyber risk solutions leader Resilience has announced the expansion of its European insurance operations into France and the Benelux region.
Millennial Specialty Insurance, one of the largest independent MGAs in the country, has announced the launch of its new brand, MSI.
Marsh McLennan has announced plans to acquire McGriff Insurance Services, a leading provider of insurance broking and risk management services in the United States.
Jakarta-based Health insurtech startup Rey has secured an additional $3.5 million in funding to expand its AI-powered health insurance platform.
Following the devastating landfall of Hurricane Helene in Florida, reinsurance broker Gallagher Re has significantly increased its estimate of insured losses.
Canopius, a leading specialty lines (re)insurer, has announced that it will no longer be writing new space business.
EXL has launched a new AI model designed specifically for the insurance industry.
YuLife, a UK-based insurtech company, has announced the launch of its group life insurance services in South Africa.
Pouch Insurance has announced that its AI assistant, Goodie, is now fully integrated with the Instanda platform, providing agents with enhanced capabilities for customer interaction and quote generation.
AgencyBloc, a leading provider of insurtech solutions for the health, senior, and benefits industries, has announced a new partnership with SunFire, a Medicare quoting and enrollment platform.
Abacus Life, a leading alternative asset manager and direct buyer of life insurance, has announced a strategic partnership with Lorisco Life, a health prediction company specializing in advanced proteomics and machine learning.
Insuritas, a leading embedded insurance provider for financial institutions, has announced a new partnership with Recoop Disaster Insurance.
Insurtech is revolutionising the insurance industry, bringing innovative solutions to traditional practices. As the sector continues to evolve rapidly, funding plays a crucial role in driving growth and innovation.
Axis Insurance Managers Inc. (“Axis Insurance”) has announced the acquisition of the O’Neill Group, a prominent employee group benefits, life insurance, and wealth advisory firm in British Columbia.
AXA Hong Kong and Macau has launched a groundbreaking Heatwave Parametric Insurance aimed at shielding outdoor workers from the rising risks posed by extreme heat during the summer months.
Ledger Investing, a marketplace for casualty insurance-linked securities, has announced the successful closing and launch of a new $100 million casualty sidecar facility.
Former chemical engineer turned insurtech pioneer, Bill Song, shares the journey that led him to launch Peak3, a leading provider of digital solutions for the global insurance industry.
AXA UK has launched a new digital service designed to streamline the insurance claims process for customers.
Broadstone, a leading independent financial services consultancy, has announced the appointment of Ewen Tweedie as Actuarial Director within its Insurance, Regulatory, and Risk Consulting division.
Lloyd’s has announced a formal partnership with the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA), which builds on over 25 years of collaboration between the two parties and emphasises a commitment to drive sustainable development outcomes through World Bank Group guarantees.
Coterie Insurance, a leading MGA insurtech specialising in small business insurance, has announced an updated Business Owners Policy (BOP) integration with Builders & Tradesmen’s Insurance Services Inc. (BTIS).
The pan-African AXIAN Group has completed a strategic acquisition of a stake in WiASSUR, a Côte d’Ivoire-based insurance start-up, marking a significant step in AXIAN’s expansion into the African insurance sector.
Direct Line Group has bounced back to profitability in the first half of 2024, fueled by strong premium growth and improved margins.
Tokio Marine Kiln (TMK) and Marsh have announced the launch of an exclusive insurance facility designed to cover business interruption arising from trade disruption for ports and terminals.
Tower Insurance and CelsiusPro have announced the launch of a new parametric insurance platform for Fiji and Tonga, starting with Cyclone Response Cover.
King Risk Partners continues its strategic expansion with the acquisition of Cypress Risk Management for an undisclosed amount.
Sompo International, a leading global specialty insurer, has announced the launch of a new national marine insurance proposition for the UK market.
Health Compass, an insurtech platform in the international private medical insurance (IPMI) market, continues its growth trajectory with the addition of four prominent advisory groups: DR-WALTER, Hoxton Wealth, Status Global Insurance, and Santé Group.
Orion180, a leading innovator in the insurance industry, has expanded its admitted homeowners insurance offerings to North Carolina.
New research from Beazley, a leading specialist insurer, reveals that artificial intelligence (AI) is becoming the most pressing challenge for digital health and wellness companies.
West Bend Insurance Company has announced an expansion of its partnership with ZestyAI, a leading provider of climate and property risk analytics powered by artificial intelligence (AI).
Centivo, a leading healthcare company dedicated to making high-quality healthcare more affordable, has announced the successful completion of a $75 million financing round.
Envelop Risk, a leading UK-based global specialty cyber reinsurance MGA with offices in Bristol, London, Bermuda and San Francisco, has announced the launch of a new services business, Envelop Risk Solutions.
Xceedance, a global insurance consulting, technology, and managed services provider, has announced the acquisition of Millennium Information Services, a leader in property inspection and data analytics.
Flywire Corporation, a leading global payments enablement and software company, has announced the acquisition of Invoiced, a SaaS platform specialising in automating the Accounts Receivable (A/R) process for mid-market businesses.
SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned reciprocal exchange, has partnered with SageSure, a leading managing general underwriter focused on catastrophe-exposed markets, to unveil its first non-admitted business owners policy (BOP) in California.
Global insurance broker Howden has launched a new platform designed to assist clients in evaluating and addressing climate-related challenges.
Relation Insurance Services has announced the acquisition of Whitney Oaks Insurance Services, Inc., effective August 30, 2024. The terms of the transaction were not disclosed.
Farmers Insurance is declining to renew over 1,000 home policies in Oklahoma, officials say.
RWS, a global leader in technology-driven language, content, and intellectual property solutions, has announced a multi-year Strategic Collaboration Agreement with Amazon Web Services (AWS) to launch new solutions powered by generative AI.
McGill and Partners, a leading independent global specialty insurance and reinsurance broker, has announced its expansion into the Nordic region with the opening of a new branch office in Sweden, pending regulatory approvals.
arqu, a tech-enabled wholesale insurance brokerage based in San Francisco, has raised US$10 million in a Series A round led by Crosslink Capital with participation from Intact Ventures.
Quantee, a leading InsurTech company, has announced a new partnership with Colombian insurer Seguros del Estado.
BOXX Insurance, a global leader in cyber insurtech, has announced two key leadership appointments as part of its strategic expansion across the Americas.
Kyber, a Y-Combinator-backed AI startup, has unveiled a groundbreaking platform designed to automate the claims notification process for insurance teams.
Cachet, a company specialising in insurance products for platforms and micromobility, has announced a new partnership with TaskRabbit to provide enhanced insurance options for freelancers.
kWh Analytics, a provider of climate insurance for renewable energy assets, has announced a $2.4 million partnership with the U.S. Department of Energy’s Solar Energy Technologies Office (SETO).
Inszone Insurance Services, a leading provider of commercial, personal, and benefits insurance, has announced the acquisition of Catalyst Benefits Group, LLC, an employee benefits brokerage based in Tulsa, Oklahoma.
Madrid-based insurance startup, Tuio, has successfully raised $16.7 million in a combination of equity and debt.
Ocean State Credit Union has announced a new partnership with Insuritas to launch a full-service, embedded digital insurance agency.
Caroline Feeney, Executive Vice President and CEO of Prudential’s U.S. Businesses, has been named the 2025 Board Chair of LL Global, the parent organisation of financial services industry groups LIMRA (Life Insurance Marketing and Research Association) and LOMA (Life Office Management Association).
Hawaii Employers’ Mutual Insurance Company, Inc. (HEMIC) has announced a $5 million dividend for its qualifying policyholders, marking the largest dividend issued in the company’s history.
American Family Insurance Group has announced that it will raise its minimum wage to $25 per hour, effective January 1, 2025.
French digital health insurance startup Alan has reached a valuation of €4 billion following a €173 million ($193 million) funding round led by Belgian bank Belfius Bank SA.
From the cutting-edge research of CERN to steering risk solutions at Swiss Re, Paloma Quiroga Arias leverages her particle physics background to help transform the insurance industry. As Head of Risk Consulting & Analytics, Quiroga is driving data-driven decisions and innovation, reshaping how insurers understand and manage risk. Insurtech Insights finds out more.
EvolutionIQ, a global leader in claims guidance technology, has joined the Council of Australian Life Insurers (CALI) as its inaugural Life Partner, marking a significant step in CALI’s corporate partner program.
Koltin, a Mexican insurtech focused on providing private health insurance for seniors, has raised $7.3 million in a Series A funding round led by Left Lane Capital.
Insurance broker Marsh and Lloyd’s underwriter Tokio Marine Kiln (TMK) have introduced a new business interruption insurance product designed to protect ports against increasing trade disruption risks.
wefox Holding AG has announced the appointment of Joachim Müller as its new CEO, effective immediately.
Functional Finance, a software platform “revolutionising financial operations” for managing general agents, insurance companies, and wholesalers, announced the closing of a $20 million Series A funding round led by Walkabout Ventures, with participation from Munich Re Ventures and Phil Edmundson, the founder of Corvus Insurance.
Lloyd’s, the global leader in insurance and reinsurance, has announced the appointment of Sir Charles Roxburgh KCB as its next Chair, pending regulatory approval from the Prudential Regulation Authority and the Financial Conduct Authority.
Prudential Financial, Inc. (NYSE: PRU) has introduced a new Stop Loss Insurance product aimed at helping companies with self-funded medical plans mitigate the financial risks of high-cost medical claims.
Louisiana Workers’ Compensation Corporation (LWCC), the largest workers’ compensation carrier in Louisiana, has selected Akur8’s Core Platform solution to enhance its predictive modeling capabilities and strengthen underwriting insights.
Pivix Specialty Insurance Services, a new managing general agency (MGA) focused on the Excess and Surplus (E&S) lines market, has officially launched.
Pineapple Financial, a Canadian mortgage company, has officially launched Pineapple Insurance, marking a significant expansion of its business.
American International Group, Inc. (NYSE: AIG) has announced the appointment of Keith Walsh as Executive Vice President and Chief Financial Officer (CFO), effective October 21, 2024.
INSTANDA, a global leader in SaaS platform technology for the insurance industry, has announced its integration with Swiss Re’s automated underwriting platform, Magnum.
Majesco, a leading provider of cloud-based insurance software, has announced the launch of its new AI ecosystem powered by Majesco Copilot.
Allianz Partners USA has introduced a redesigned Universal Claims Portal, aimed at simplifying the travel insurance claims process for customers.
Legal & General has announced the sale of its UK housebuilding subsidiary, CALA Group, to Ferguson Bidco Limited, a company owned by funds managed by Sixth Street Partners and Patron Capital.
Munich Re North America Life has launched a new longevity reinsurance solution tailored for the US and Canadian markets, offering clients the ability to accumulate assets while mitigating biometric risks.
Cyber insurance startup Cowbell has announced an expansion of its underwriting capacity, enabling it to cover businesses with annual revenues of up to $1 billion.
Zywave, a leading provider of SaaS InsurTech solutions, today announced the appointments of Martin Simoncic as Chief Executive Officer and Chris Kasper as Chief Financial Officer.
Healthee, a leader in health benefits technology, has announced the launch of its enhanced app, set for early 2025.
Insurtech firm Optalitix has announced a new partnership with Go.Compare, bringing its unique motor and home insurance pricing solution to insurers via the popular comparison site.
The use of AI to manipulate insurance claims is on the rise in the UK, with nearly one in four claims suspected of involving falsified data, according to new research by claims automation company Sprout.ai.
CarePay International, a leading innovator in next-generation health insurance platforms based in Amsterdam, has raised €10 million in fresh funding from Reinsurance Group of America (RGA) and the Health Insurance Fund (HIF), a fund supported by the Ministry of Foreign Affairs of the Netherlands.
Seguros Lagun Aro, a prominent player in the Spanish insurance market, has announced a strategic partnership with Akur8, a cutting-edge insurance pricing and reserving platform powered by Transparent AI. The collaboration aims to streamline Seguros Lagun Aro’s pricing processes for its Property and Casualty (P&C) offerings, enhancing both efficiency and pricing accuracy.
Roots Automation, an AI-driven solutions provider for the insurance industry, has secured $22.2 million in a Series B funding round led by Harbert Growth Partners, with participation from MissionOG, Liberty Mutual Strategic Ventures, and Vestigo Ventures.
Insurity, a leading provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has been named to the 2024 IDC FinTech Rankings Top 50.
Parsyl, a leading innovator in supply chain risk management and insurance, has announced a major rebrand to align with its evolving business model and ambitious growth plans.
PCF Insurance Services, a leading U.S. insurance brokerage, announced today the acquisition of the insurance business of Top Insurance Associates, an all-lines insurance agency based in Snohomish, Washington.
IS2, a leading provider of digital distribution platform (DDP) solutions, has unveiled its new API-enabled hosted pricing solution, designed to transform distribution for commercial insurers and Managing General Agents (MGAs).
Nayya, a leading platform that simplifies employee benefits selection and management, has announced a new investment from Workday Ventures.
FifthWall Solutions, a Pennsylvania-based cyber insurance wholesaler, has successfully raised $5 million in Series A funding to fuel its growth.
Swiss Re has selected mea platform’s Generative AI (GenAI) solution for its global reinsurance and insurance operations, marking a significant expansion in the companies’ partnership.
Marsh McLennan, the global leader in professional services across risk, strategy, and people, has named Kristof De Bremme as CEO of Marsh McLennan for Belgium and Luxembourg, as well as President of Marsh in the region. He succeeds Rebecca Tielemans in the role.
Tyler Boire, Senior Intelligence Analyst at Resilience, speaks with Insurtech Insights about his team’s efforts to combat the notorious North Korean hacker group, Kimsuky.
Everest has officially announced the launch of its local entity, Everest Compañía de Seguros Generales Colombia S.A., following regulatory approval from the Superintendencia Financiera de Colombia.
British insurance intermediary Howden has further expanded its presence in Australia by acquiring Collegial Insurance Services, a Sydney-based general insurance broker.
A new report from the Swiss Re Institute suggests that excess mortality in the US could remain up to 3% higher than pre-pandemic levels by 2033, with the UK facing a potential 2.5% increase.
SME-focused insurtech startup Onsurity has raised an additional $21 million, led by private equity firm Creaegis, to complete its Series B funding round at $45 million.
Akur8, the AI-powered insurance pricing and reserving platform, has raised $120 million in its latest Series C funding round, bringing its total funding to $180 million.
Ledgertech has secured the 2024 EMEA InsurTech Innovation Award at The World’s Digital Insurance Awards, recognized for its leadership in embedded insurance solutions.
Nirvana, a pioneering health tech company specialising in insurance verification and eligibility with machine learning and artificial intelligence, has announced a successful $24.2 million Series A funding round.
Sun Life US is advancing its claims integration by enabling members to file a single claim for multiple benefits, streamlining access to disability, supplemental health, stop-loss, and dental coverage.
Prudential Financial has announced a new partnership with RightCapital, expanding its presence on digital financial planning platforms aimed at empowering retail advisors with tech-forward tools.
Guidewire (NYSE: GWRE) has announced the availability of comprehensive data and maps detailing hurricane risk across the U.S., powered by HazardHub’s extensive dataset of over 1,000 climate risk factors.
Sedgwick, a global provider of insurance claims management, loss adjusting, and technology-enabled business solutions, has announced a $1 billion investment from North American private equity firm Altas Partners. This strategic partnership values Sedgwick at $13.2 billion.
Lemonade CEO and Co-Founder, Daniel Schreiber will headline as a main stage speaker at Insurtech Insights Europe 2025.
EverPeak Insurance, a workers’ compensation provider, has officially launched its services in South Carolina. The announcement follows the company’s recent expansion into Arizona earlier this week.
Allstate Financial Services has selected global life insurer Foresters Financial as a key provider for its U.S. life insurance offerings.
Akur8, a cutting-edge insurance pricing platform leveraging transparent machine learning, has announced a new partnership with Heritage Insurance, a leading property and casualty insurance company based in Tampa, Florida.
Cytora, a leading digital risk processing platform, has announced a partnership with Mitiga Solutions, a provider of science-based climate risk intelligence, to enhance insurers’ ability to assess and manage climate-related risks.
Sun Life Financial has announced significant leadership changes within its Canadian division. Effective September 30, 2024, Jacques Goulet will take on the role of Executive Chair, Sun Life Canada, while Jessica Tan will succeed him as President of Sun Life Canada.
Mammoth Life and Reinsurance Company has announced an exclusive strategic partnership with The Marathon Group to provide $1 billion in life insurance benefits to communities of colour.
Voya Financial and OneAmerica Financial have entered into a definitive agreement for Voya to acquire OneAmerica Financial’s full-service retirement plan business.
Policy Expert, the award-winning home and motor insurance provider, has secured new backing from international private equity firm Cinven to support its expansion and growth strategy.
NEAT Protect, a leading provider of embedded insurance solutions based in Paris, has raised €50 million in a Series A funding round, led by Hedosophia, with support from Mundi Ventures, ETFS Capital, Athletico Ventures, and existing investors.
US-based insurtech managing general agent (MGA) Ledgebrook has raised $17 million in a Series B funding round.
HDI Global Insurance Company, the US branch of the global commercial insurer HDI Global SE, has announced the launch of its new excess Life Sciences Liability policy.
Optalitix, the specialist insurance and finance software provider, today announced a follow-on fundraising round of US$3 million led by existing investor Calculus Capital, with participation from 24 Haymarket and others.
Assuria N.V., the largest insurance provider in Suriname, is advancing its digital transformation by adopting Equisoft’s cloud-based policy administration system and advisor tools.
Beazley, a leading specialist insurer, has published its latest Risk & Resilience report: Spotlight on Cyber & Technology Risk 2024, which explores how businesses perceive increasing cyber threats, tech disruption, and intellectual property risks amid rapid technological advances.
Envelop Risk, a specialist in cyber reinsurance and analytics, has launched a new services division called Envelop Risk Solutions, aimed at providing comprehensive support to insurers and reinsurers looking to strengthen their cyber capabilities.
Trupanion, a provider of medical insurance for cats and dogs, has launched its signature product in Germany and Switzerland, marking a key milestone in the company’s European expansion.
The recent news that leading BNPL fintech, Klarna, has shed 700 staff (half its workforce) following the adoption of AI tools – and is more streamlined and profitable than ever before – should come as a wake-up call to many in the financial services space.
Markel, the insurance arm of Markel Group Inc, has launched its new FintechRisk+ insurance policy, reinforcing its commitment to offering market-leading coverage and service solutions for fintech firms navigating an increasingly complex landscape.
Sigo Seguros, a car insurance startup dedicated to serving underserved communities, has raised $10.5 million in a Series A funding round.
WTW has announced a new partnership between its Affinity Insurance division and Kayna, an award-winning insurance infrastructure platform.
FWD Group Holdings Limited (FWD Group or FWD) has announced a four-year extension of its partnership with INSEAD, aimed at providing top-tier leadership development for its leading agency figures.
Tokio Marine Kiln (TMK) has announced the launch of a new Specialty Reinsurance division as part of its growth and diversification strategy, with Phil Taylor appointed to lead the initiative.
Coalition has launched its reinsurance intermediary, Coalition Re, with the goal of providing capacity for cyber reinsurance treaties and furthering its mission to protect underserved businesses.
LIMOSS and Charles Taylor have announced a partnership which will provide the Delegated Data Manager (DDM) as an elective market service through LIMOSS.
Akur8, a provider of machine learning-based insurance pricing solutions, has announced the acquisition of Arius®, a property and casualty (P&C) reserving software.
Starkweather & Shepley Insurance Brokerage, Rhode IIsland’s largest insurer, has launched an AI-powered platform designed to streamline the insurance procurement process and optimise underwriter risk assessment.
Cogitate, a cloud-native provider of core policy, billing, and claims systems for the insurance industry, has announced it is partnering with One Inc to streamline the payment process for insurers and policyholders.
Social inflation has emerged as a key factor behind the surge in US liability claims, according to Swiss Re Institute’s newly launched Social Inflation Index.
AON, a global leader in professional services, has announced a significant expansion of its Bermuda reinsurance platform, aimed at enhancing transactional and capital optimisation solutions while fostering profitable growth opportunities for clients.
Swiss Re is forecasting an increase in demand for reinsurance protection due to heightened natural catastrophe risks, macroeconomic instability, and geopolitical tensions.
Connect Underwriting Limited, a specialist reinsurance MGA, has announced the launch of BRICS UW (BRICS), a reinsurance MGA designed to provide capacity to emerging markets, pending regulatory approval.
Global insurance brokers Aon and Marsh McLennan have called on the (re)insurance industry to leverage its capital, expertise, and historical role in fostering economic resilience to aid Ukraine’s recovery and post-conflict reconstruction efforts.
NFP, an Aon company and a leading property and casualty (P&C) broker, has acquired Scott Litman Insurance Agency (SLIA), a Calabasas-based firm specializing in habitational risk.
Mitsui Sumitomo Insurance (MSI), part of the MS&AD Insurance Group, has announced a strategic investment in Serenity Health Partners Pte. Ltd., a Singapore-based company focused on health insurance.
McGill and Partners, the independent global specialty insurance and reinsurance broker, has announced the appointment of Nick Williams-Walker as Group Chief Operating Officer, effective from 23 September 2024.
San Francisco-based health benefits startup Thatch has secured $38 million in a Series A funding round, led by Index Ventures and General Catalyst.
AXA UK & Ireland has announced the appointment of Rahul Gumber as its new Chief Risk Officer, pending regulatory approval.
The first half of 2024 marked a significant downturn in insurance carrier M&A, with only 103 deals completed, the lowest figure in 15 years, according to Clyde & Co’s mid-year Growth report.
Vertafore, the leader in modern insurance technology, announced its latest innovation to empower benefits brokers: automated importing for SBC data into BenefitPoint.
The Demex Group, a risk analytics and intelligence firm specialising in stop-loss reinsurance protection, has raised $10.25 million through a Series A and previous SAFE funding round, led by Congruent Ventures. Moxxie Ventures, MetaProp, and existing investor Blue Bear Capital also participated.
Insurity, a leading provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has announced a strategic partnership with Gain Life, a company specialising in enhancing the claims process through behavioural economics and AI.
Korint Insurtech, a rising player in the digital insurance space, has raised €5 million in a funding round led by venture capital firm Ventech, with continued support from 360 Capital.
Root Insurance has announced a new partnership with First Connect Insurance Services, a digital platform that provides independent agents access to multiple carriers and Managing General Agents (MGAs).
The partnership with battleface will allow HBX Group to provide its clients and partners insurance products that are “highly customisable” and available to residents in over 180 countries.
Moody’s Corporation has acquired casualty insurance analytics provider Praedicat, building on its 2021 acquisition of RMS and further expanding its investments in analytics and the casualty insurance market.
Onfleet, a last-mile delivery management software platform, has announced a new integration partnership with Fairmatic, a provider of commercial auto insurance that rewards fleets with savings for safe driving.
Collinson, a global leader in customer benefits and loyalty, has announced a strategic partnership with National Australia Bank (NAB) to offer global airport lounge access to NAB’s Rewards Signature credit cardholders in Australia in the event of a flight delay.
A new whitepaper from Marsh McLennan and Zurich Insurance Group highlights the urgent need for greater public sector involvement to bolster societal resilience against catastrophic cyber events.
John Neal expresses concerns over potential impact on investment as Lloyd’s of London posts robust first-half results.
Cytora has announced a strategic partnership with data-driven art evaluator Overstone, enabling speciality insurers to access Overstone’s art intelligence via Cytora’s digital risk processing platform.
Irish Insurtech Blink Parametric Enters Sub-Saharan Market, Launching in Kenya with Flight Disruption Solution
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, today announced a strong set of results for the first six months of 2024, with an overall profit before tax of £4.9bn (HY 2023: £3.9bn).
Cambridge Mobile Telematics (CMT), the world’s leading telematics service provider, has further strengthened its European operations by appointing Rima Khetab as the Director of Sales for France and Benelux.
The idea for Canopy Connect sprang from a chance conversation at a dinner – and was prototyped over a weekend. Insurtech Insights talks to Tolga Tezel about his extraordinary startup journey.
Aviva, a leading insurance and financial services company, has entered into a strategic partnership with Nirvana, a media, tech, and cyber Managing General Agent (MGA), to launch a new European cyber insurance binder
GoHealth, a prominent health insurance marketplace, has announced a significant step forward with its acquisition of e-TeleQuote Insurance, a well-regarded player in the Medicare insurance market.
Bishop Street Underwriters, a multi-boutique insurance platform owned by RedBird Capital Partners, has announced a strategic joint venture with Skyward Specialty Insurance Group, a prominent player in the specialty property and casualty market.
The Clear Group, an independent insurance broker based in London, has acquired managing general agency Accelerate Underwriting.
VIG Re has announced that effective January 1, 2025, Tobias Sonndorfer will succeed Johannes Martin Hartmann as Chief Executive Officer and Chairman of the Board of Directors in line with the established succession plan.
WTW has partnered with Canopius and Verita Capital Solutions to introduce a new property insurance facility called the Client Edge Facility.
SiriusPoint, a global specialty re/insurer, has entered a strategic partnership with travel insurtech Gigasure, a company that provides customisable insurance policies for travellers and backpackers.
Cambridge Mobile Telematics (CMT) has been honored with Frost & Sullivan’s 2024 Market Leadership Award for its pioneering contributions to the telematics insurance and connected claims industry.
BuddyID, a global leader in microchipping and lost pet recovery for over 30 years, has announced a new partnership with Pets Best pet health insurance.
Ryan Specialty has announced a definitive agreement to acquire the property and casualty managing general underwriters (MGUs) of Ethos Specialty Insurance from Ascot Group.
Zurich Insurance Group and its corporate foundation, the Z Zurich Foundation, have launched the Zurich Climate Resilience Alliance (the Alliance) to assess current levels of resilience within vulnerable communities and implement appropriate solutions to climate hazards.
Ripe, the UK Digital MGA, has today confirmed the appointment of Alan Thomas, former UK CEO of Simply Business, to fuel the company’s next stage of growth.
Bikmo has announced a new partnership with Destination Sport Experiences, the parent company of Sportive Breaks and Marathon Tours & Travel.
Hexaware, an IT services and solutions provider, has announced a partnership with Earnix, a global leader in AI-based SaaS pricing and rating solutions for financial services.
Zyber Insurance, a US-based firm, has announced a partnership with Citalid, the leading European Cyber Risk Quantification (CRQ) platform.
Verisk, a leading global provider of data analytics and technology, reports that the average annual loss (AAL) from global natural catastrophes has reached $151 billion, with $119 billion from non-crop losses.
The Competition Authority of Kenya (CAK) has approved the proposed acquisition of a 51% shareholding in Monarch Insurance by a consortium of three firms: Ondoba, Kenyoro, and Equico Thirteen.
Earnix, a leading global provider of intelligent decisioning SaaS solutions for financial services, has announced that Co-operators General Insurance Company, a major Canadian financial services co-operative, has successfully implemented the Earnix Enterprise Rating Engine.
Aon has strengthened its capital advisory services with the appointments of Mike Cane as Capital Advisory Leader for the UK and Yen Chu Choo as Capital Advisory Leader for Asia Pacific (APAC).
DUAL UK, the specialist underwriting arm of Howden Group, has announced its acquisition of International Passenger Protection (IPP) in both the UK and Malta, pending regulatory approval.
Turtlemint Group, operating under Fintech Blue Solutions, is broadening its revenue streams beyond its core insurtech platform. The company plans to pursue acquisitions significantly larger than its previous deals to drive the expansion.
Rising Edge Ltd has announced an agreement to acquire AMANIKI GmbH, a move that will enable the company to launch a suite of Transactional Liability insurance products.
New Zealand insurer Tower has announced a new partnership with HealthCarePlus, aimed at providing members of education and public services unions with access to a range of its insurance products, including house, contents, and motor insurance.
Experian has introduced a new feature in its Insurance Marketplace that aims to ease the burden by automating the search for better rates.
EventPipe, a leader in event housing management software, has unveiled Booking Protection in collaboration with embedded insurtech Protecht.
Inszone Insurance Services, which recently acquired Keith Williams Insurance Agency in Texas, has once again expanded its portfolio by acquiring A&B Insurance Agency in Marin County, California.
IAT Insurance Group, the Specialty P&C Insurance carrier, has selected CLARA Analytics’ product Claims DocIntel Pro as its newest AI platform to support its auto and general liability claims process.
Sapiens, the insurance software specialist, has launched Version 12.0 of its Sapiens CoreSuite for Property & Casualty (P&C) for the North American Insurance market.
Qover has teamed up with Numeral and HSBC Innovation Banking UK to enhance its claim payout experience through advanced embedded payment solutions.
Angela Hunter, a leading figure in the insurance and healthcare sectors, leverages her extensive experience as a CEO, Board Member and now as a Senior Adviser to drive transformative change across Asia Pacific. We caught up with her to find out more
Flowcode, a marketing technology platform, has entered into a partnership with REIN, an embedded insurance technology company, to simplify the process of purchasing insurance. The collaboration aims to enhance the ease with which customers can obtain quotes and secure coverage.
The UK Financial Watchdog has launched an investigation into whether insurance companies are taking advantage of “vulnerable” customers who take out policies designed to financially protect them and their families in case of serious illness or death.
EZLynx, a subsidiary of Applied, has been selected by Cold Creek Insurance Agency to provide its management system, along with the Tarmika commercial lines quoting tool, to establish a solid technological foundation for the agency’s growth.
InsurancePadosi, an Indian insurtech startup, has announced that it has successfully raised $500,000 in a pre-seed funding round led by the global early-stage VC Antler.
SageSure, the Managing General Underwriter, has announced a partnership with Markel that will see SageSure Expanded Markets distributing Markel’s insurance products.
Redline Underwriting has launched a new comprehensive property facultative reinsurance solution aimed at Commercial and Industrial Property risks across Mexico, Central and South America, and the Caribbean.
Root Insurance has announced it is partnering with Goosehead Insurance, a rapidly growing personal lines agency, aiming to redefine the agent experience.
Omio, a travel platform for booking trains, planes, buses and ferries, has announced the expansion of its product Omio Flex, which provides the ability to cancel journey tickets.
General Motors Insurance has officially expanded its car insurance offerings to Georgia, continuing its rapid growth across the United States.
A recent AM Best report has found that the shift towards International Financial Reporting Standards (IFRS) 17 marks a significant transformation in financial reporting, especially within the reinsurance market. This change has created the need for a new approach to performance analysis.
FWD Group Holdings Limited announced strong financial results for the first half of 2024, covering the six months ending on 30 June.
redalpine, the European Venture Capital firm, has today announced the successful closure of its largest-ever fund, “redalpine Capital VII (RAC VII),” at $200 million.
KOHO, the Canadian fintech, has expanded its financial product suite by offering a new tenant insurance policy to its members in partnership with Walnut Insurance.
A recent survey by Insurity, a leading provider of cloud-based software and analytics for the insurance industry, has revealed a notable shift in consumer priorities when choosing insurance providers, especially in the face of increasing severe weather events.
Bikmo, a leading cycling insurtech, has announced it is entering a three year partnership with the Association of Cycle Traders (ACT), the UK’s largest and most established cycle trade membership organisation.
PCF Insurance Services has announced the completion of the acquisition of 360 Insurance, a Nevada-based insurer.
Nexus Group, the Specialty MGA, has announced it is launching a new Alternative Risk Transfer (ART) business, which will be led by Christof Bentele, President of Nexus Specialty Casualty.
Carpe Data, a leading provider of predictive data for the insurance industry, has announced a partnership with EverPeak Insurance to create a new workers’ compensation solution developed by Pinnacol Assurance.
Ascot Group, the Bermuda-based global specialty insurer, has announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business.
Guidewire, a leading developer of software solutions for the insurance industry, has announced the release of critical data and maps detailing wildfire risk in the United States, available at national, state, and local levels.
Accession Risk Management Group, the parent company of One80 Intermediaries and Risk Strategies has announced it has successfully raised $1 billion in financing to support its growth and continued expansion.
Tesla has reported its financial results for the second quarter of 2023, showcasing robust growth in its insurance operations across multiple states, despite ongoing challenges and recent controversies.
The Centre for Study of Insurance Operations (CSIO) has introduced an online cybersecurity learning programme aimed at bolstering the defences of Canadian businesses against the growing threat of cybercrime.
Aimii, an AI-specialist, has announced it is partnering with RiverStone International, a leading global acquirer and reinsurer of legacy and discontinued insurance business.
Chubb, a leading global insurance provider, has introduced a new home insurance product specifically tailored for high net worth clients in Switzerland.
Alliant Insurance Services has announced the launch of Alliant Commercial Surety, a new product targeting the commercial surety market.
Lincoln Financial Group has announced the launch of new grief support services for Group Life beneficiaries, providing care beyond the claims process.
Swiss Re reported a profit of $996 million during Q2 of 2024, resulting in a net income of $2.1 billion and a return on equity of 20.1% for the first half of 2024. Swiss Re’s financial performance was underpinned by strong contributions from all business units, and the company maintains its full-year targets.
Pool Re, the UK’s foremost terrorism reinsurer, has selected Aon Securities Limited and Howden Capital Markets and Advisory as its insurance-linked securities (ILS) advisors.
Clearcover, a next-generation insurtech creating market-leading insurance solutions, has announced it is partnering with ServiceUp, a tech company streamlining the automotive repair process.
Skyline Insurance has chosen EZLynx, an all-in-one agency management system from Applied Systems, to serve as the foundation for its business operations.
Verisk Specialty Business Solutions, a leading reinsurance software specialist, has announced the launch of a new offshore renewable energy module within its exposure management system, Sequel Impact.
Jetty, the financial services company focused on making home renting more affordable and accessible, has announced a new partnership with Socotra to enhance its insurance operations.
Developments in the healthtech space are driving transformation in the Life insurance industry, enabling it to implement better diagnostic outcomes for patients, according to leaders from GRAIL, MassMutual and Munich Re Life and Health.
APOLLO Insurance, the Canadian digital insurtech and pioneer in the emerging embedded finance sector, has announced a new partnership with Petsecure to offer pet insurance to its tens of thousands of customers.
A new report from AM Best has found a surge in catastrophe bond issuance and widening spreads in early 2024, underlining the growing demand for reinsurance capacity and demonstrating marked interest in parametric-triggered reinsurance and insurance-linked securities (ILS).
Berkley Select, a prominent provider of professional liability insurance, has introduced a new product, AttorneyShield, expanding its employment practices liability (EPL) offerings to cater specifically to the unique needs of law firms.
The Green Insurer has bolstered its panel of insurers by partnering with Ageas UK, as part of its strategy to sustain competitive pricing and drive sales growth.
Penguin Benefits was founded by Chengchen Li in 2020, following her own journey through the complex maze that is the parental benefits space.
Marsh, the insurance broker, risk advisor, and arm of Marsh McLennan, has launched an industry-first $50 million port blockage insurance product, covering shipping ports and terminals globally.
Synergy Cloud the independent claims management system provider has announced it is partnering with Claim Technology, the no-code claims automation and customer experience platform.
Skyward Specialty Insurance, a leading specialty P&C insurer, has announced it is partnering with Acceleration Aviation Underwriters to provide bespoke insurance solutions to the aviation industry.
YouSet, a rapidly growing Canadian Insurtech startup, has raised $3.5 million in an oversubscribed seed funding round to further its mission of simplifying and saving money on insurance for Canadians.
EIR, a leading B2B2X white-label insurtech based in Sweden and launched in 2019, has achieved two significant milestones: reaching profitability with a positive net result in June and expanding its operations into three new markets— the Netherlands, Finland, and Greece.
Aon has launched its Directors and Officers (D&O) Risk Analyzer, a cutting-edge digital tool designed to help risk managers of US-listed public companies make data-driven, technology-enabled decisions to mitigate executive risks.
Cytora has announced a strategic partnership with GeoSmart Information, an innovative environmental data specialist, aimed at helping insurers better manage flood risk.
Blink Parametric has launched a new app-based travel assistance bundle in collaboration with Gigasure, marking a significant step in simplifying access to real-time travel benefits.
Mount Etna, Europe’s tallest and most active volcano, has erupted, causing widespread disruption in Sicily. The eruption led to the temporary closure of Catania Airport, a key travel hub, after the volcano spewed ash and gasses high into the atmosphere, covering nearby towns in dark volcanic dust.
Archera has announced it has successfully completed a $17 million Series B Funding Round, paving the way for expansion into multi-cloud offerings, and securing access to over $100 million in reinsurance capacity.
Rokstone, the specialty (re)insurance MGA and Aventum subsidiary, has announced the appointment of Laurence Burrows as it enters the U.S. Excess Casualty division.
A new survey from the flood forecasting and water management data company, Previsico, has shown that 54% of public sector and private companies do not currently have a flood action plan in place to deal with the increased risk of flooding.
Arch Mortgage Insurance Company (Arch MI) has successfully obtained over $203 million in indemnity reinsurance via a transaction with Bellemeade Re 2024-1 Ltd, a special purpose reinsurer.
Igloo, the Singaporean headquartered insurtech, has announced that it is expanding its digital platform, Ignite, to the Philippines.
Allstate has announced its decision to sell its Employer Voluntary Benefits business to The Standard for $2 billion in cash. The move is part of Allstate’s broader strategy to streamline its operations and focus on core business areas
cyan AG, a cybersecurity provider, is partnering with Wefox Austria, a SaaS platform for insurance brokers, to launch a new offering that includes cyber protection and insurance.
Marsh has announced the launch of a new insurance product specifically tailored for the transportation and storage of carbon dioxide (CO2).
Prudential plc (Prudential) has announced a significant expansion of its strategic partnership with Google Cloud to develop innovative AI-powered products and applications aimed at enhancing experiences for customers, agents, and employees.
Simplifai has announced it is partnering with Stillwater Insurance to automate its claims process, aiming to enhance customer service and operational efficiency.
Lockton Re, the reinsurance arm of a privately-owned independent insurance broker, has announced it is partnering with global reinsurer Ariel Re.
QuickFacts, an insurtech startup dedicated to enhancing efficiency in the insurance industry, has announced the successful closure of an oversubscribed $2 million funding round.
Phyn, a leader in intelligent water solutions, has announced a partnership with Bamboo, a P&C insurer focused on simplicity, transparency, and savings, to protect homes from water-related losses.
NOW Insurance has earned the 559th position on the 2024 Inc. 5000, the annual list of America’s fastest-growing private companies.
Sapiens International has today announced that it has been selected by the US niche insurer, Society Insurance, to streamline its financial reporting, boost efficiencies, and reduce claims leakage.
Tally, the insurer which was founded with the mission to alleviate the burden of credit card debt, has officially shut down.
Tesla is now providing state-specific discounts for policyholders in the 12 states where Tesla Insurance is available. The discounts are designed to reduce insurance costs by leveraging safety features, multi-car policies, and defensive driving courses.
HUB International, the global insurance brokerage and financial services firm, has announced it has completed the acquisition of Clark 401K. The terms of the deal were not disclosed.
Amwins, the specialty insurance distributor, has launched a new “Tees-to-Green” flood insurance programme in partnership with Floodbase and with support from highly reputable carriers.
FWD Group has marked its 11th anniversary today by announcing eleven charitable grants dedicated to supporting local communities across the Asian continent.
RegSearch, the compliance and risk management insurtech, has rebranded its AI product to better reflect the company’s values and mission.
Companion Protect, a Kansas City-based company specialising in pet insurance and wellness administration, has successfully raised $20.25 million in a Series A extension round.
Insurity, a leading provider of cloud-based software and analytics for insurance carriers, brokers, and managing general agents (MGAs), has introduced its latest innovation, the Insurity Spreadsheet API.
Aegis Professional Risk, a subsidiary of Aegis General Insurance Agency and K2 Insurance Services, has announced it is partnering with Sentry Insurance to develop and launch a new E&O programme.
INSTANDA, a leading global no-code insurance platform provider, has announced the appointment of Professor Andy Pardoe as its Interim Chief AI Officer. This marks the first time the company has created this role, underscoring its commitment to integrating advanced artificial intelligence into its operations.
Liberty Mutual Reinsurance has announced it will be providing the capacity to support a new parametric insurance programme designed to benefit Kenyan coffee growers.
Cybercriminals have refined their strategies to capitalise on vulnerabilities arising from business mergers, acquisitions, and the consolidation of software vendors, according to the Midyear 2024 Cyber Risk Report by Resilience, a leading cyber risk solutions company.
John Hancock has announced it is partnering with Ethos to offer John Hancock Simple Term with Vitality through Ethos.
Arch Insurance, a leading global specialty insurer, has announced it is partnering with Cytora, a digital risk processing platform, to further digitise its risk intake and streamline underwriting workstreams.
hyperexponential, a specialist digital pricing platform for global (re)insurers, has found that while technological advancements have opened up significant opportunities, issues with the wider ecosystem and outdated networks are hindering innovation and limiting insurers’ efficiency, profitability, and ability to foster partnerships.
The Association of British Insurers (ABI) stated this week that extreme weather has driven property insurance payouts to a record quarterly high in the last three months, underlining the growing threat that climate change poses to homes, businesses, and the broader economy.
The insurance industry is undergoing so many changes that its time to rewrite the rule book and approach innovation, talent retention and culture creation from a different perspective, according to Bill Pappas, EVP & Head of Global Technology and Operations for MetLife.
Aventum, an international (re)insurance group, has announced it is investing in the development of an innovative AI Underwriting Assistant, following the conclusion of its inaugural Bear Cave Innovation Challenge.
Hiscox has announced today that it is rolling out its AI-Enhanced Lead underwriting model to all London market brokers following a successful proof of concept.
Howden has completed the acquisition of Health and Life Insurance broker Help Me Compare Group (which trades as ActiveQuote) and its subsidiaries, boosting Howden’s position in the UK market.
Gradient AI, a leading provider of artificial intelligence (AI) solutions for the insurance industry, has raised $56.1 million in its latest Series C funding round.
Howden Re has announced it is partnering with Temblor Inc, a natural-disaster modelling company specialising in seismic hazard and risk assessments.
PhonePe has announced the launch of a ‘pre-approved term life insurance’ feature on its platform. This new feature is designed to make insurance coverage more accessible and affordable for millions of Indians by waiving the requirement for proof of income at the time of policy purchase.
Levitate, an insurer-backed innovative Happiness Platform, has successfully raised $15 million in a Series D round.
The global IT outage on July 19, 2024, has triggered a significant shift in the cyber insurance sector, prompting carriers and brokers to reevaluate and accelerate their approach to innovation.
Cytora, a leading digital risk processing platform, has announced a partnership with Xapien, an AI-powered due diligence company.
Luz Saúde has expanded its service portfolio with the introduction of the LUZ ON PRIME card, a new offering developed in partnership with Habit, a Portuguese startup making strides in the international digital insurance and telecommunications markets.
Merchants Insurance Group, a leading mutual insurer based in Buffalo, has selected Kalepa’s Copilot underwriting platform to significantly enhance its commercial underwriting capabilities.
Jetty, a fintech startup aiming to democratise the home renting space, has announced that it is partnering with Fortegra and Allianz.
The partnership will provide insurers with AI-powered research and due diligence to enable more accurate underwriting and fraud detection
Houlihan Lokey, the global investment bank, has agreed to acquire Waller Helms, an independent advisory firm providing investment banking services to clients in the insurance and wealth management sectors.
The Cayman Islands National Insurance Company (CINICO) has announced the launch of a new home insurance policy that includes Parametric Coverage.
Scamnetic, a startup leveraging advanced AI to protect users against a wide range of digital scams, has successfully closed a $1.35 million pre-seed funding round.
Cresso Health, an insurtech providing sales and marketing solutions for health insurance carriers in the U.S., has officially launched today.
Chaiz, a Texas-based marketplace for extended car warranties, has successfully raised $3.7 million in a seed funding round as it seeks to expand its coverage options.
AI can complicate rather than simplify and reinsurers should take a circumspect approach to replacing legacy processes, according to Nicholas Berg and J.C. Brueckner of SCOR
RSA has launched an enhanced brokers and customer claims portal and has become the first UK insurer to adopt Guidewire’s Cloud Solutions.
AA Underwriting Ltd is enhancing its data enrichment capabilities in its motor insurance business by extending its partnership with insurance intelligence provider Percayso Inform.
Lloyd’s, the world’s preeminent marketplace for insurance and reinsurance, has today announced that AM Best has upgraded its financial strength rating to A+ (Superior) from A (Excellent).
Walnut has announced the successful close of its latest funding round, securing CAN$4.6 million. The investment will be used to expand Walnut’s groundbreaking embedded insurance technology platform for insurers, brokers and enterprise businesses looking to participate in the future of insurance distribution.
Aon has announced it is renewing its partnership with Columbia University until 2027 to boost research on the correlation of climate risk between various perils and regions.
Pine Walk Capital Limited, the specialist MGA platform and subsidiary of the Fidelis partnership, has today launched Novagen, a new MGA specialising in renewables.
Whitespace, the digitally-native e-trading platform and a Verisk subsidiary, has announced the launch of new library and contract builder capabilities which will help clients in the global (re)insurance market save time and minimise the risk of human error.
Swiss Re has estimated that a high frequency of small to medium events has resulted in global insured losses from natural disasters of $60 billion in the first half of 2024.
Insurity, a leading provider of cloud software for insurance carriers, brokers, and managing general agents (MGAs), has released findings from its 2024 Severe Weather P&C Consumer Pulse survey, shedding light on consumer attitudes towards severe weather insurance coverage.
ZestyAI, a provider of AI-powered climate and property risk analytic solutions, has launched a new product, Z-WATER, to combat one of the leading catalysts of insurance losses: interior water.
Hub International Limited, a global brokerage and financial services firm, has completed the acquisition of Pennsylvania-based Insurance Management Company (IMC). The terms of the deal were not disclosed.
Berkshire Hathaway, the conglomerate led by Warren Buffett, reported an 82% year-on-year increase in net underwriting earnings across its insurance and reinsurance businesses for the second quarter of 2024, totalling $2.3 billion.
Pet Business International, a leading provider of instant online insurance quotes for small to medium-sized pet businesses, is launching in the US today.
Guidehealth announced on Tuesday that it has secured $14 million in seed funding, with major contributions from the non-profit Memorial Hermann Health System in southeast Texas, entrepreneur Sidd Pagadipati, and other healthcare investors and industry leaders.
King Insurance Partners has announced the acquisition of Lincoln Insurance Group, an independent insurance agency based in McDonough, Georgia. The acquisition aims to expand King Insurance Partners’ service offerings and strengthen its market presence.
Inscora, a Canadian startup providing automated cyber risk assessments and sales enablement solutions to cyber insurance brokers, has successfully raised $2 million in a funding round.
Rockford Mutual Corporation has announced that it has chosen Sapiens ReinsurancePro to fully automate its reinsurance management process, aiming to maximise efficiency and mitigate costly claims leakage.
Carrot General Insurance, a leading South Korean insurtech firm, has secured exclusive rights from the General Insurance Association of Korea (GIAK) to implement its Behavioral-Based Insurance (BBI) system for six months.
AXA Hong Kong and Macau has launched a new Heatwave Parametric Insurance offering in Hong Kong, designed to protect outdoor workers against the increasing risk of rising temperatures.
Aviva is set to begin writing marine business in Lloyd’s beginning next year for the first time in 200 years, following Aviva’s acquisition of Lloyd’s syndicate Probitas in July.
Duck Creek Technologies has launched Policy with Active Delivery, a new product which aims to streamline operations for property and casualty insurers.
Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has announced that La France Mutualiste has selected Clearwater’s advanced platform to modernise its investment operations and reporting processes.
INSHUR has annouced its findings from Driving the On-Demand Economy in the US, the first and only report to survey Americans who drive for on-demand rideshare and delivery apps including Uber and DoorDash.
Emerald Bay Risk Solutions, a cooperative underwriting carrier, has announced a partnership with Curotech Specialty, a technology-driven MGA, to launch an excess and surplus commercial property programme.
In the latest installment of our ‘Empowering Insurance’ series, Insurtech Insights’ Joanna England talks to Belen Tokarski – the President and Chief Operating Officer of Mylo.
Geo Underwriting, a part of Ardonagh Advisory, has announced it will acquire Navigators & General (N&G) from Zurich UK.
Renaissance Life and Health Insurance Company has announced the expansion of its group insurance offerings with an innovative supplemental health solution.
Ambac Financial Group has completed the acquisition of a 60% controlling stake in London-based insurance underwriting and MGA incubation platform Beat Capital Partners.
AXA has announced it is set to acquire Gruppo Nobis for an upfront payment of €423 million, with a potential extra earn-out of up to €55 million.
Zurich Australia has announced a partnership with Tesla to act as its preferred electric vehicle insurer for customers in Australia. Under the agreement, existing and
The significant outage linked to IT giant Microsoft has caused widespread disruption, affecting banks, airlines, train companies, and media organisations – with dramatic implications for the global insurance industry as businesses worldwide report significant disruptions.
The Extreme Event Solutions group at Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, estimates that industry insured losses to onshore property from wind in the U.S. due to Hurricane Beryl will range between USD 2 billion and USD 3 billion.
Safe-Guard Products has announced a new investment from Hellman & Friedman, a private equity firm. Founded in 1992 and based in Georgia, Safe-Guard Products is a provider of third-party private label finance and insurance protection products for the automotive, RV, marine, and powersports industries.
AEGIS London, the London-based Lloyd’s syndicate, has established a new data science and analytics team to enhance its underwriting capabilities and data-driven initiatives.
Juno – the first company in the US to provide child disability insurance closes US$8.5 million Series A funding to expand reach of new core employee benefit
This year’s Giveback marks more than $10 million donated to 86 organisations since inception, impacting millions of people globally.
Juniper Re, the reinsurance broking arm and subsidiary of The Baldwin Group, has announced a strategic collaboration with CAPE Analytics to deliver portfolio-improving property risk insights to its clients, as well as a differentiated view of the reinsurance market.
Everest Group, the Bermuda-based (re)insurer, has unveiled a new structure for its alternative reinsurance capital business, transforming it into a multi-vehicle capital management platform through the launch of Mt. Logan Capital Management, Ltd. (MLCM).
In our latest series, MEET THE FOUNDER, we speak to former British Army Officer (Intelligence Corp) turned insurtech entrepreneur, Forbes McKenzie, who is a trailblazer in space and intelligence technology for the financial services and insurance industry.
Embroker, a US digital insurance company, has launched a bespoke insurance programme for real estate agents and brokers.
Plum, one of India’s leading insurtech platforms, has today launched Plum Perks, a comprehensively curated suite for healthcare and wellness benefits for employees.
Five Sigma, a leading AI claims management software company, has announced the launch of “Clive™”, the insurance industry’s first AI-powered Insurance Adjustment Agent.
FM Global has announced a rebranding and will now be known as “FM.” The change underscores the company’s growth and dedication to protecting its clients from business risks.
Simply Business, a leading digital insurance broker focusing on small businesses, has today announced it is partnering with EMPLOYERS, a leading provider of workers’ compensation insurance.
Coalition has announced the launch of a new Security Awareness Training, aimed at providing small businesses with cybersecurity training and process automation. The training will simplify the rollout of security training by IT, monitor performance, and track compliance.
EPIC Insurance Brokers and Consultants has completed the acquisition of US-based Century Insurance Group for an undisclosed sum.
Priceline, a pioneer in online travel services, has teamed up with Cover Genius, a leading insurtech provider, to roll out advanced travel protection solutions across North America.
Ushur, an insurtech specialising in AI-powered customer experience automation, has announced the launch of a new pre-built automation solution.
London-based Cuvva, which offers short term car insurance, has shared its financial results for 2023, ending the year with a profit for the first time.
German insurer Allianz announced on Wednesday that it plans to buy a majority stake in Singapore’s Income Insurance for around $1.6 billion, as it seeks to strengthen its position in Asia.
The increasing prevalence of cyber warfare and nation-state attacks poses significant risks in 2024 and policies must evolve to address these issues, according to a new industry report by Flow.
Cytora, the leading digital risk processing company, has announced it is partnering with Gamma Risk, a global provider of location intelligence systems and services.
Insurity, a leading provider of cloud software for insurance carriers, brokers, and managing general agents (MGAs), has announced the launch of the Insurity Interaction Platform, powered by Glia.
Bold Penguin, the insurtech software specialist, has announced the addition of certain capacity offered through RT Specialty, a leading wholesale distributor of commercial excess and surplus (E&S) insurance products and services, to their Terminal carrier panel.
Akur8, a next-generation insurance pricing solution powered by transparent machine learning, has announced a new partnership with Millennial Specialty Insurance, LLC (MSI), one of the largest non-carrier-affiliated managing general agencies in the United States.
Artex Risk Solutions, a subsidiary of Gallagher, has introduced its first Vermont Protected Cell Company (PCC).
QBE Insurance has launched a new product, QCyberProtect, a comprehensive and globally streamlined cyber policy designed to bolster cyber resilience for clients worldwide.
Female insurance leaders Sabrina Hart, Margot Giles and Casey Kempton discussed the challenges surrounding promotions and fundraising for women in the insurance industry, during the recent Women’s Leadership Congress at Insurtech Insights USA 2024.
GCube Insurance, a specialist underwriter in the renewables sector, has announced the establishment of a new consortium designed to provide battery energy storage system (BESS) developers and asset owners with up to $100 million of “A-Rated” Insurance Capacity.
Lemonade, the digital AI-driven insurtech company, has announced the launch of a new Buildings and Contents Insurance policy in the United Kingdom.
Kennedys IQ and Vested Impact have announced a partnership to advance the use of ESG data in the insurance industry. This collaboration addresses the growing need for integrating external data to support underwriting, claims, and risk and compliance functions, as well as corporate supply chain management.
Insurtech funding in Latin America plummeted to a historic low of $26 million in the first half of 2024, representing a sharp 78% decline compared to the same period in 2023. Over the 12 months from July 2023 to June 2024, the total funding reached $43 million, marking the lowest figure on record.
ICE InsureTech, the Insurance Software Platform, has announced a partnership with GoCardless, the bank payment company, to streamline insurance payments in Australia and New Zealand.
Despite geopolitical tensions and heightened inflation in recent years, major economies have demonstrated unexpected resilience. According to Swiss Re Institute’s annual World Insurance sigma report, global GDP growth is forecasted to reach 2.7% in real terms in 2024, setting a promising stage for growth and increased profitability in the insurance sector.
Insuritas, the insurance distribution platform, has announced a partnership with Integral Group Solution (IGS), a company specialising in providing value-added assistance programmes.
Aviva has managed to strengthen its exposure management capabilities through a partnership with Symfos. By using their software solution, Orchestra, the company has improved its ability to visualise risks and automate data processing.
Guy Carpenter, the reinsurance broker, is launching a new parametric flood product, FloodShield, designed to enable risk transfer for large portfolios of exposure across wide areas.
Quotech, the underwriter-led developer of integrated technology solutions for underwriting and broking teams, has announced a partnership with the industry-owned Oasis Loss Modelling Framework.
The Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has announced an investment of €25 million in management agency Mundi Ventures, agreeing that the funding will be allocated to insurtech startups and parallel sectors aiming to improve and digitise the insurance sector.
SageSure, a leading managing general underwriter specialising in catastrophe-exposed markets, alongside Anchor Re, a captive reinsurance vehicle, and SureChoice Underwriters Reciprocal Exchange (SURE), has announced the successful closing of the Gateway Re 2024-4 county-weighted wind cover catastrophe bond at $60 million.
Tokio Marine has announced a partnership with carbon credit insurtech specialist Kita to provide Political Risk Insurance for developers and investors in carbon credit projects.
Pool Re, the British government-backed terrorism reinsurer, has announced a partnership with Clearwater Analytics, a SaaS-led provider of investment management, accounting, reporting, and analytics solutions.
In today’s fast-paced work environment, sleep and wellbeing often take a backseat to productivity and performance. However, the impact of poor sleep on health, safety, and overall job performance cannot be overstated.
US carbon-credit insurance carrier Oka and Socotra, a provider of modern policy administration systems, have announced a strategic partnership aimed at enhancing insurance solutions for the carbon markets and scaling climate initiatives.
In this latest Thought Leadership article, Ross Sinclair, Founder and CEO of EIP explores the history of embedded insurance services and why some ‘innovative’ new ways of offering such solutions are falling short of the mark.
Radian Group has announced a partnership with real estate data and technology company BatchService to provide BatchService’s community of real estate investors and other customers access to its title and home closing platform, titlegenius.
Tesla has been granted additional time to prepare for a lawsuit filed by a customer representing drivers in eleven U.S. states, alleging the company overcharged for insurance through false crash warnings.
Allianz Partners has been chosen by the Paris 2024 Organising Committee to provide medical assistance and repatriation services during the upcoming Olympic and Paralympic Games.
Enzo the German-based startup dedicated to solving the global problem of tap water pipe damage in buildings, has announced the successful completion of a $2.5 million seed funding round.
Zyber has announced the launch of its new cyber insurance quoting platform tailored for startups and midsize enterprises. The platform allows users to obtain insurance quotes within minutes through a streamlined digital process.
Cambridge Mobile Telematics has announced the renewal of its partnership with Hastings Direct, a UK insurer specialising in private car, van, motorbike, and home insurance. Cambridge Mobile Telematics is recognised as the world’s largest telematics service provider.
Charlee.ai, a provider of AI-based predictive analytic solutions, has announced a partnership with SaaS insurtech Duck Creek Technology to enhance the claims management process through advanced predictive analytics.
Janover Inc., an AI-driven platform for commercial real estate transactions, announced today that its subsidiary, Janover Insurance Group, has begun offering directors and officers (D&O) liability insurance tailored for publicly traded companies.
Aspen Insurance, a prominent provider of insurance and reinsurance solutions, has introduced Aspen Data Labs, a platform designed to enhance digital capabilities and strengthen its focus on data and Analytics.
Limit, the insurtech, has launched LimitAI, which it claims is the first generative AI created exclusively for the Property & Casualty (P&C) sector. LimitAI is designed to analyse extensive insurance documents, quotes, and policies, providing rapid answers to various insurance-related queries.
AdvantageGo, a leading commercial insurance and reinsurance SaaS provider, has announced a partnership with FortifyData, a prominent cyber risk manager, to enhance cyber risk analysis in the underwriting process.
Heffernan Insurance, one of the largest independent insurance brokerage firms in the United States, has announced the acquisition of Costello Insurance Associates, a move that officially adds aviation expertise to its extensive range of services.
For the first time in its history, Direct Line insurance will be available on price comparison websites, introducing a new suite of motor insurance products tailored for these platforms.
Shel Bachrach, an insurance giant whose work behind the scenes helped movies like Cliffhanger, The People vs. Larry Flynt, and Ali get made, died on Monday in Palm Springs at the age of 80.
Securian Financial and Open Lending have announced they are partnering to provide insurance to credit union and other auto lenders through the Lenders Protection programme.
Otonomi has officially launched its new three-hour Air Cargo Delay Parametric Insurance worldwide. The product aims to fill a significant gap in air cargo insurance by providing coverage for ultra-short yet costly delays.
APOLLO, the Canadian digital insurer and pioneer in the emerging embedded finance sector, has partnered with Dream to provide instant digital insurance solutions specifically designed for tenants across Canada.
Martin & Company, a leading provider of insurance technology solutions and consulting services, has partnered with Coherent, a global software-as-a-service company, to enhance speed-to-market capabilities for insurers.
Hub International Limited (Hub) has expanded its footprint in Tennessee with the acquisition of Wyatt Insurance Services, Inc.
Verisk, the global data analytics and technology provider, has launched ISO Experience, a product designed to modernise the way actuaries within insurance analyse risk patterns.
GNP Seguros is further strengthening its digital transformation efforts with the implementation of Equisoft’s cloud-based policy administration solution, which uses Oracle Insurance Policy Administration (OIPA) at its core.
Aviva has completed its acquisition of Probitas Holdings Limited for £249 million, marking its entry into the Lloyd’s market.
Breeze, a leading digital cargo insurance platform, has announced its integration with WebCargo by Freightos. The partnership enables freight forwarders to instantly purchase insurance for shipments via Breeze directly through the WebCargo platform.
Zurich North America has introduced a new primary products liability policy tailored to meet the specific needs of pharmaceutical, medtech, research and development, and other life science companies with revenues up to $1 billion.
Casey Kempton highlighted critical challenges facing the personal lines sector and spoke at length about opportunities for innovation and improvement during her recent live on stage session at Insurtech Insights USA 2024.
Westwood Insurance Agency has announced a new strategic partnership with Stanley Martin Homes, one of the fastest-growing home builders in the US.
Solera, a global provider of SaaS solutions, has announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock.
SES Risk Solutions, an MGA specialising in real estate investor insurance, has announced a partnership with Guaranteed Rate Insurance, aiming to provide rental property owners with comprehensive landlord insurance coverage.
Marsh McLennan has announced the acquisition of The Horton Group, a leading insurance brokerage and one of the top independent insurance brokers. The terms of the deal have not been disclosed.
In an era marked by rapid technological advancements, the insurance industry is witnessing a significant transformation. Much of this is achieved via strategic collaborations that enable better products and services – and further reach into previously uncharted marketplaces.
Cyber insurtech At-Bay has announced its intention to shut down Relay Platform form, the cyber-focused single-entry multi-carrier quoting solution it acquired in 2022.
Eastern Alliance, a ProAssurance subsidiary, has announced it has chosen CLARAty.ai, an advanced platform developed by CLARA Analytics (CLARA), to enhance medical outcomes for injured workers, improve reserve accuracy, and reduce administrative burdens for claims professionals.
Howden Re and Moody’s have announced the launch of a three-month reciprocal talent exchange programme, aimed at bolstering professional development and knowledge sharing between the two companies.
The Woodlands Financial Group (TWFG), an insurance broker supported by reinsurer RenaissanceRe, has announced its intention to raise up to $176 million through its upcoming Initial Public Offering (IPO).
Najm for Insurance Services Company (Najm) has launched a new telematics initiative using advanced mobility analytics technologies to improve road safety in Saudi Arabia.
Unum Group has announced a definitive agreement to sell its Medical Stop Loss business to the Amynta Group, an insurance services company.
An EY report has highlighted a significant increase in publicly disclosed M&A deals in the UK insurance industry, rising from 54 deals in H1 2023 to 94 in H1 2024. The overall deal value has also surged from £400 million to £900 million.
Brookfield, one of the world’s largest private capital groups, has applied to establish an insurance entity in the UK. This move aims to capitalise on the significant number of British companies looking to offload their pension plans.
Lloyd’s has announced the members of the Inclusive Futures Coalition. This collective, comprising market firms and delivery partners, spearheads the Inclusive Futures programme, which was launched in November 2023.
Aflac, a leading provider of supplemental insurance in the US, has announced that its Dental and Vision division is partnering with SKYGEN to continue improving the customer experience journey.
Shares in Hiscox surged as much as 14% on Monday following reports that two foreign rivals are considering takeover bids for the Lloyd’s of London insurer.
tifgroup, a leading provider of travel insurance, has announced a partnership with OpenDialog AI, aiming to transform the customer experience across its customer-focused brands.
Insurtech Insights speaks to three parametric experts about why this swift and transparent approach to insurance is gaining ground in our increasingly unstable climate.
iA Financial Group has announced a $10 million investment in Clutch Technology, a Canadian company specialising in online sales of pre-owned vehicles. This strategic move aims to integrate iA Financial Group’s insurance products into Clutch’s digital car-buying platform.
Schroders Capital, the $94 billion private markets arm of Schroders Group, has launched a tokenisation pilot aimed at innovating within the insurance-linked securities marketplace.
Aurora, the managing general agent, has launched a flagship commercial combined product tailored for SMEs. Supported by AXA insurance, the product includes property business interruption, employers’ liability, and public liability coverages.
Mercia Fleet Management has revealed a significant reduction in its insurance costs by leveraging AI-enhanced driver profiling and accident damage assessment, despite the wider rise in insurance premiums.
Fitch Ratings has found that the US Property and Casualty market is set to return to underwriting profitability along with a significant improvement in return on capital for 2024. This positive outlook is driven by lower winter storm losses and an improvement in personal auto results.
Bermuda-based specialty insurance carrier Relm Insurance Ltd has completed its expansion into the MENA region through the acquisition of B&F Partners Ltd, now operating as Relm Insurance Mena Ltd.
In the wake of Labour’s recent triumph in the UK General Election, industry experts are weighing in on the potential impacts this political shift may have on the insurance sector.
PLATFORM, the boutique insurance broker, has announced the launch of a captive insurance and alternative risk financing practice group to be led by Braedy Walker (pictured).
TrustID, a company known for its expertise in identity verification, has announced its partnership with IDVerse, a startup pioneering AI identity solutions.
Dani Katz, Co-founder and Director of Optalitix, explores the evolving role of underwriters as AI innovation transforms legacy processes and roles across the insurance industry
Global reinsurer MAPFRE RE has announced that on 2 July 2024, it obtained approval from the National Financial Regulatory Administration of the People’s Republic of China to open a branch in Beijing.
Natural Capital Research (Natcap), a startup specialising in nature and biodiversity intelligence, has announced it has successfully raised $10 million in a Series A funding round.
Howden’s fourth annual cyber report has found a market stabilisation following significant volatility in 2020 and 2021 due to increased ransomware claims. The “Risk, Resilience, and Relevance” report found a 15% decrease in rates from the peak in 2022.
Insurtech UK has published a roadmap of recommendations for policymakers, so that the UK can retain and strengthen its leading global status in insurance innovation.
The 29th Annual British Insurance Awards, hosted by Insurance Post, were held at the Royal Albert Hall last night, honouring the best in the industry at one of the most prestigious and coveted awards ceremonies in the market.
Wopta Assicurazioni, an insurtech MGA established to support businesses and professionals against everyday risks, has successfully closed a €4.1 million Series A funding round. The raise brings the total raised since its inception to approx
