ALL LATEST PRODUCT LAUCNHES

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

Inside MassMutual Ventures’ new fund

MassMutual Ventures’ announcement on April 27 of a new $300 million fund targeting start-ups in digital health, cybersecurity, enterprise SaaS and financial technology looks to be a force for innovation in insurtech.

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Tokio Marine launches CVC fund

Tokio Marine, a Tokyo-headquartered insurance corporation, said Tuesday it has launched its $42 million corporate venture capital (CVC) fund, dubbed Tokio Marine Future Fund, to invest in early-stage startups around the world.

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tokio-marine

Tokio Marine Kiln launches new IP product for SMEs

Tokio Marine Kiln has released its new Intellectual Property Abatement Insurance for US-based SMEs, where the product will be available as an add-on to TMK’s Intellectual Property (IP) Infringement Defence Policy and features limits of up to $3 million.

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Marsh unveils property analytics tool

Insurance broker and risk advisor Marsh has announced the launch of a new property analytics product. The new product aims to help clients around the world manage their property risks by transforming a slow, manual process into a digital experience with real-time, actionable insights.

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Crypto insurer launches world-first reinsurance business

Relm, a company that provides insurance to the crypto sector and the first and only commercial insurer globally to hold Bermuda’s IIGB license, has announced the launch of Relm II, the world’s first fully regulated collateralized reinsurance business that can accept both fiat and cryptocurrencies as collateral.

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Blockchain consortia B3i, RiskStream partner for parametric insurance

Yesterday, the Institutes RiskStream Collaborative announced that it will work with B3i Services, the blockchain insurance consortium that was incorporated in 2018. Several insurers are members of both organizations, with RiskStream more U.S.-focused. Jointly they will run Labs to explore the potential for homeowner parametric insurance and reinsurance.

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Marsh launches ESG risk assessment tool

Global insurance broker Marsh has announced the launch of its Environmental, Social and Governance (ESG) Risk Rating, an assessment tool to measure an organisation’s ESG performance, enabling organisations to improve their ESG risks and gain access to additional insurance market capacity.

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Strategies for insurers to grow AI responsibly

Artificial intelligence is changing how the insurance industry operates and use cases for AI are skyrocketing. Today, AI is being used to provide customer service, assess risk profiles, to determine pricing, detect fraud and more. As technologies evolve and the industry’s use of AI becomes more mature, the opportunities for using AI in the future appear virtually limitless.

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Axa launches EV fleet product

AXA Commercial has announced the official launch of its electric vehicle proposition for motor fleet customers, offering a greener fleet option to businesses.

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Launch of Beazley’s digital division, aiming to transform broker access

Beazley announced that its global digital commerce division, Beazley Digital, is up and running. New hub brings together underwriting, claims, technology and operations experts into a cross-functional team, to provide seamless digital access and services to a range of high-volume, low-premium products for its partners global brokerage.

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Luko Strengthens Its Pricing Process with Akur8

Luko and Akur8 have announced a collaboration to strengthen Luko’s pricing process. By forging this alliance with the first French neo-insurance company, Akur8 affirms its solid position in its domestic market and consolidates its position within the insurtech ecosystem in France and internationally.

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Resilience launches captive reinsurer

Cyber insurance and security solutions provider Resilience has launched a captive reinsurance company. The captive will allow the agent to retain a share in the risks it underwrites, fuelling additional growth and “demonstrating its long-term commitment to underwriting a profitable and sustainable book on a global scale”, it said.

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Acrisure launches cyber services division

Fast-growing insurance and fintech firm Acrisure announced a new cyber services division this week, a move that will allow the company to provide customers with a portfolio of solutions to help address some of the most pressing cyber risks.

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WTW launches new crisis management unit

WTW has announced the formation of a new crisis management unit with the merger of SCR and its political violence teams. The unit will sit within WTW’s Financial Solutions Global line of business and be headed by Jo Holliday, managing director of SCR.

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Lemonade’s Year in Review

Lemonade, the insurance firm that’s powered by AI and behavioural economics, notes that the end of the year 2021 is a time for “sitting back, taking stock, and reflecting on the past twelve months.”

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Toyota wants to sell you auto insurance

So far it’s being sold in Arizona, Illinois, Indiana, Ohio and South Carolina. Along with Texas, it will soon be operating in Georgia, Missouri and Tennessee with more states added monthly, Toyota said Thursday.

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Matic Insurance Launches New Partnership with HSBC Bank

Matic, a leading digital insurance agency, and HSBC USA announced today a long-term partnership to provide insurance products to HSBC clients. Under the partnership, Matic’s innovative insurance marketplace of over 40 A-rated carriers will be integrated into HSBC Wealth and Personal Banking offerings.

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Coalition Launches Captive to Accelerate its Growth in Cyber Insurance

Coalition, the world’s largest commercial insurtech provider, today announced it will launch a new captive to begin taking risk on its cyber insurance programs. With this captive, Coalition will enhance its ability to manage capacity and its long-term growth objectives while further aligning incentives with its customers.

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The (in)convenient truth about insurance claims

The insurance sector is notoriously low touch. There are arguably only four key customer journeys: taking out a policy, renewal, making a claim and cancellation. Customers tend to only hear from their insurer once or twice each year, and these are usually dull, administrative interactions. Then it’s radio silence until it’s time to renew again.

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Generali launches cyber insurance services

Generali has announced a partnership with Accenture and Vodafone Business to launch a suite of cyber insurance services. The initiative includes cyber risk assessments, phishing simulations and learning programs.

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New insurtech Getlife launches in Spain

Getlife, the new insurtech that aims to revolutionize life insurance by selling affordable, fair and easy products throughout Europe, has raised € 1 million of financing in a pre-seed investment round and the largest in the insurtech industry in Spain.

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The CareVoice Launches API-based Infrastructure and Health Ecosystem and Collaborates with Major Insurers

Insurtech The CareVoice,
has today announced numerous firm updates, including launch of its upgraded operating system
as an API-based infrastructure and health ecosystem, new collaboration with several major
insurance companies, a progressive roll-out across multiple countries from Asia, Europe and
Latin America, and additional capital as part of ongoing B financing round.

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CI partners with Swiss Re to launch its first embedded cyber protection

We live in an increasingly digital world, and new digital platforms such as financial apps, social networks, e-commerce, smart homes, and the new environment of remote working are associated with growing cyber risks. Recent researches clearly show that most consumers are concerned about cyber threats, but only a few know that personal cyber insurance products are available.

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Hippo Expands Into Industrial Insurance coverage

Home insurance group Hippo has announced that it is expanding into commercial insurance. The company has announced that the first product to launch from Hippo’s commercial lines unit is a tailored homeowners’ association (HOA) product.

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Biba launches home insurance scheme

BIBA has launched a new scheme with the Reading based insuretech OneClickCover Ltd offering members access to a highly innovative, data-driven online home insurance platform that provides customers a quote in a few seconds, using just the property address.

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Allstate’s Arity launches Arity IQ

Today, mobility data and analytics company Arity launches Arity IQ, a game changing innovation that enables insurers to offer consumers the most accurate price by leveraging driving behavior data at new business.

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Chubb and Marsh collaborate on Covid-19 Vaccine Cover

Chubb and Marsh today announced a collaboration with the World Health Organization (WHO) and Gavi, the Vaccine Alliance (Gavi), that has secured insurance coverage for a Program that will offer eligible individuals in 92 lower-income countries and economies a fast, fair and transparent process to receive compensation for rare but serious adverse events associated with vaccines distributed through COVAX up to June 30, 2022.

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Lloyds

The Latest Launches From Lloyd’s, Amwins and Kin

Lloyd’s launched a parametric earthquake insurance policy in New Zealand. Amwins Specialty Logistics Underwriters is expanding into the Canadian market to serve Canada’s growing logistics industry. Kin Insurance said it is now offering homeowners policies in Louisiana.

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Hyundai Introduces New Insurance Feature

Hyundai Motor America introduces the Usage Based Insurance (UBI) program and Driving Scoreii to promote safe and efficient driving habits and potentially save owners hundreds of dollars on their auto insurance.

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AXA Launches AXA SmartHome Plus eVoucher

AXA Hong Kong and Macau today announced the launch of an insurance eVoucher for its award-winning home insurance – AXA SmartHome Plus, leveraging insurtech to innovate home insurance usage and distribution channel as well as helping more people’s homes to get the necessary protection.

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Guardian and Atidot Partner to Create New Insurance Models and Customer Experiences

The Guardian Life Insurance Company of America® (Guardian Life) today announced it has entered into a joint venture with the AI and predictive analytics innovators at Atidot. The collaboration is focused on creating a platform that deploys artificial intelligence and machine learning to power data driven decision-making that helps make insurance products and services easier for consumers to understand and buy.

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Chinese Insurtech Firm Expands Reach in Southeast Asia

ZA Tech, the technology venture founded by ZhongAn Online P&C Insurance, announced on Thursday that it will work with PFI Mega Life, an Indonesian joint venture of American insurance giant Prudential Financial, to drive digital transformation of the insurance industry in the Southeast Asian country.

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Bradley Collins

Bradley Collins