We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Aon has announced a $1 billion expansion of its Data Center Lifecycle Insurance Program (DCLP), increasing total available capacity to $2.5 billion as investment in artificial intelligence, cloud computing and digital infrastructure continues to accelerate.
Aging IT infrastructure is a critical threat to the global insurance industry. It’s a famously hard
problem to solve, and many have failed in the process.
Neutrinos, a leading provider of AI-powered intelligent automation solutions for the insurance industry, has announced a significant partnership with a global Fortune 500 life insurance company.
Kennedys IQ SmartRisk combining generative AI with insight-led structured decision making and regulatory compliance
Yokahu, a leading innovator in parametric insurance, has unveiled cat-risk.com, the first independent, many-to-many parametric exchange designed to revolutionize disaster risk finance within the London re/insurance market.
Peak3, a global insurance technology leader, is accelerating its expansion plans in the UK and European markets following a successful US$35 million Series A funding round.
ResiQuant, an insurtech startup transforming property risk assessment, has announced a $4 million seed funding round led by LDV Capital, with participation from Foothill Ventures, Pear VC, Alumni Ventures, and strategic angel investors.
Sixfold, a pioneer in generative AI solutions for insurance risk analysis, has unveiled a revolutionary AI Accuracy Validator, designed to bolster underwriter confidence in AI-driven risk assessments.
Marsh, a global leader in insurance broking and risk advisory, and a subsidiary of Marsh McLennan (NYSE: MMC), has announced the launch of Cyber Echo Encore, an enhanced version of its flagship Cyber Echo insurance facility.
Kita, a Lloyd’s of London coverholder specializing in carbon insurance, has announced its expansion into Australia, extending its coverage to companies within the region.
Norm Ai, a compliance AI platform, has secured $48 million in a recent funding round, signaling strong investor confidence in its technology designed to streamline regulatory adherence within the insurance industry and beyond.
In the dynamic world of insurance, innovation is no longer a luxury, but a necessity. At the forefront of this transformation is Joel Agard, Group Head of Innovation at Zurich Insurance Group.
Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, has announced a strategic partnership with InsCipher, an insurtech company specializing in surplus lines tax filing and reporting.
Joanna England speaks with Nick Ielpo, UK Country Manager and the driving force behind Prima’s expansion into the UK market.
Heading into Spring 2025, the investment landscape for insurtech is being shaped by the lingering aftershocks of 2024’s volatile global environment.
Allianz Trade, the world’s leading trade credit insurer, today announced the launch of its standalone Business Fraud Insurance in Ireland, to help firms with more than 20 employees combat the growing threat of employee and third-party fraud.
Manulife has rolled out generative AI (GenAI) tools and learning programs to 100% of its global workforce, marking a significant milestone in its digital transformation strategy.
InsuranceDekho, a leading Indian insurtech platform, has announced a US$70 million funding round, co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG), and insurer BNP Paribas Cardif through its insurtech fund managed by Eurazeo.
Cytora, a leading digital risk processing platform, has announced a strategic partnership with Confianza, an insurtech specialising in targeted risk selection and loss ratio improvements.
The CareVoice has announced the launch of its next-generation CareVoiceOS platform, a key development following the company’s Series B funding round last year.
Floodbase, a leading provider of flood data and analytics, has secured a $5 million investment led by Ecosystem Integrity Fund, with additional participation from Pulse Fund.
Adrien Lebègue, CEO of EMEA at Peak3 discusses what lessons UK insurers can take from the APAC region.
SGS Engineering, a major UK retailer of tools and equipment, has partnered with Embri, an embedded insurance platform, to offer customers theft and damage protection at the point of sale.
Resilience, a leading cyber risk solutions company, has announced an expansion of its partnership with RSA to offer US-based businesses access to cyber insurance capacity through the London wholesale market.
Muffintech, a Berlin-based insurtech startup, has announced a €3.5 million funding round to further develop its AI-driven solutions for insurance companies and brokers.
Delfina, a San Francisco-based company using AI to improve maternal healthcare, has announced a successful $17 million Series A funding round.
The UK and US collective decision not to sign a global AI declaration, underscores a growing division over international regulation and raises concerns about the emerging risks of unregulated AI, say insurance business leaders. Insurtech Insights gets the lowdown from Mark Kirby, Professional Services Director at Intersys Ltd. and Risto Rossar, Founder and CEO of Insly.
McGill and Partners, the independent global specialty insurance and reinsurance broker, today announces the launch of Auton Green, an expansion of its fully digital, auto-follow facility, Auton, to include additional, market-leading capacity for onshore renewable energy risks.
Intelligent automation specialist, Neutrinos, has launched its AI Agent Composer, a cutting-edge platform designed to help insurers integrate AI-driven decision-making, automate complex tasks, and enhance customer engagement.
Zurich is strengthening its European presence with the acquisition of 4Care (For Care SpA) in Italy, while simultaneously introducing key enhancements to its private client insurance products in the UK.
Cytora has launched version 3.0 of its digital risk processing platform, featuring enhanced capabilities powered by agentic AI.
CLARK, Europe’s leading digital insurance broker, has introduced its first fully digital underwriting solution in the UK through its brand Polly.
Markel, the insurance division of Markel Group Inc. (NYSE: MKL), has successfully migrated Guidewire ClaimCenter from an on-premise system to Guidewire Cloud, streamlining claims processing and IT operations for its U.S. specialty lines.
Zurich Insurance Group has signed a long-term carbon dioxide removal agreement with Nellie Technologies, marking a significant step in its corporate decarbonization strategy.
DeepSeek, the Chinese artificial intelligence (AI) model that has taken the tech world by storm, continues to make waves with its latest industry partnership.
Insurtech companies have kicked off 2025 with a bang, securing significant funding rounds in January. This surge in investment signals a promising start to the year for the industry, with investors expressing confidence in the sector’s potential for growth and innovation.
London Underwriters (LU)has announced a partnership with NormanMax Insurance Solutions (NMIS) to expand its offerings of parametric insurance solutions.
Discover how AI, climate change, and other forces are reshaping the insurance landscape. This list features five webinars to add to the diary, that offer valuable insights and explore innovative solutions for industry professionals.
Previsico, a leader in flood forecasting, has partnered with Descartes, a global provider of corporate parametric insurance solutions.
Olé Life, a leading Latin American InsurTech company, has successfully raised $13 million in a Series B funding round led by PayPal Ventures.
Cachet, a leading provider of insurance technology, today announced a new partnership with HDI Global SE and Bolt Drive in Germany.
AI is a long way off replacing the trust customers have in a human intermediary, crypto will provide new payment opportunities in the insurance industry – and attracting fresh talent has to start with mentorship and investment.
AXA has become the first global insurer to join the Stanford Human-Centered Artificial Intelligence (HAI) Corporate Affiliate Program.
AirAsia and Tune Protect have launched AirAsia Comprehensive Travel PLUS in Singapore, offering enhanced travel coverage for AirAsia flights departing from the city.
DvSum, a leading provider of data intelligence solutions, has joined Guidewire’s Insurtech Vanguards program, a community designed to foster innovation within the P&C insurance sector
MetLife, a leading global financial services company, has announced the appointment of Nick Nadgauda as Executive Vice President and Chief Information Officer, effective March 10, 2025.
As we step into 2025, the insurance industry is poised for significant transformation. Leaders from across the globe have shared their insights on the key trends shaping the future of insurance. From the rise of digital innovation to the evolving risk landscape, these predictions offer a glimpse into what the year ahead holds.
GlobalData Plc has announced the acquisition of Celent, a leading research and advisory firm specializing in financial services technology.
Porsche Auto Insurance (PAI) has introduced a new Unlimited insurance product tailored for Porsche owners who drive over 10,000 miles annually.
Flow Specialty, a leading specialty insurance wholesale broker, today announced the launch of Platformless AI, a groundbreaking approach to redefining the wholesale insurance experience.
One Inc, a leading provider of digital payments platforms for the insurance industry, announced today that Brethren Mutual Insurance Company has successfully implemented ClaimsPay to streamline its claims disbursement process.
CyberCube, a leading provider of cyber risk analytics, has announced a strategic partnership with the global insurance brokerage firm, HUB International.
Sun Life Global Solutions has announced a strategic partnership with the Indian Institute of Technology (IIT) Indore to drive innovation in the insurance sector using cutting-edge technologies such as artificial intelligence (AI), machine learning, data analytics, and generative AI.
Moonrock Drone Insurance, a leading specialist managing general agent (MGA), has extended its insurance offerings to include coverage for hobbyist and recreational drone pilots.
Stephen Costello is the CEO and co-founder of Spectrum.Life – a trailblazing healthtech company that launched in 2018 and is revolutionising the way insurers, employers, and educators approach health, mental health, and wellbeing.
Poncho, a Swiss startup specialising in weather-based refunds for outdoor experiences, has raised $617,000 in seed funding.
Tesla released its Q3 2024 financial results for its insurance carriers, highlighting significant growth in written premiums alongside continued underwriting losses.
Akur8, a leading provider of next-generation insurance pricing and reserving solutions powered by transparent machine learning, has announced a strategic partnership with the American Association of Insurance Services (AAIS).
Global digital solutions provider leverages three decades of expertise to drive transformative change in insurance and investment industries.
Insurtech startup Federato has announced the successful close of a $40 million Series C funding round, led by StepStone Group, with continued backing from existing investors Emergence Capital, Caffeinated Capital, and Pear VC.
ACORD Solutions Group, a leading provider of next-generation digital solutions for the global insurance industry, today announced the launch of ADEPT Placing, a new capability within its ADEPT data exchange platform.
Previsico has been ranked 14th in the 2024 Deloitte UK Technology Fast 50, a prestigious list celebrating the 50 fastest-growing technology companies in the UK.
Guidewire has recognised the Alberta Motor Association, Ascot Group, and Mountain West Farm Bureau along with its subsidiary, 360 Insurance Company, as the winners of its 2024 Innovation Awards.
Cairo-based insurtech startup Amenli has raised US$2.3 million in a funding round aimed at accelerating its growth and enhancing its service offerings.
Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announced its second Center of Excellence (CoE) will open in Warsaw, Poland.
Oyster, a leading insurance platform for commerce, has unveiled a suite of new digital products designed to modernize the P&C insurance experience for small and medium-sized businesses.
Crux Underwriting, a leading specialty MGA, has announced a strategic partnership with mea.
Sapiens International Corporation (NASDAQ and TASE: SPNS), a global leader in insurance software solutions, has announced a significant new development: a Tier 1 African insurer has successfully launched Sapiens DataSuite, bringing its data infrastructure to the cloud.
Jonathan Jackson, CEO of Previsico, discusses the future of flooding insurance and the strategies and technologies that could help turn the tide, in the wake of Europe’s most recent tragedy
Survey of 200 senior Property & Casualty insurance executives by ZestyAI has revealed rapid adoption of AI risk assessment models for wildfires and severe convective storms
Zywave has announced a first-of-its-kind enhancement to its Cyber Quoting solution with the addition of embedded benchmarking.
Pole Star Global, a leading provider of maritime technology solutions, has partnered with Ambrey, a maritime risk management and intelligence firm, to enhance ship security and tracking capabilities.
The insurance industry is undergoing a digital revolution, driven by innovative technologies and forward-thinking leaders. Women are playing an increasingly vital role in shaping this transformation.
Accelerant Holdings has announced the public release of its advanced digital platform, app.accelerant.ai, aimed at enhancing underwriting and risk management capabilities for insurers and risk capital partners.
Simon Torrance, Founder and CEO of AI Risk, describes what he sees as the most advanced deployment of ‘Agentic AI’ anywhere in the insurance industry today, setting it in the context of other forms of AI-enabled augmentation and automation, and proposing a holistic approach to AI strategy that will help companies succeed in the Age of AI.
Leading insurtech platform Bolt has announced a collaboration with Salesforce to launch Bolt for Salesforce on Salesforce AppExchange.
Glia, a leading provider of customer interaction technology, has announced a new integration with Insurity’s Workers’ Comp Suite.
MetLife UK has partnered with YuLife to launch a new Group Income Protection proposition for the UK market.
The EU AI Act was officially published by the European Commission in July 2024 after months of development. It is the first legislation aimed at regulating the development and use of AI across industries, with the goal of protecting the fundamental rights of citizens, writes Vlad Flamind, Lead Data Consultant, Zühlke
ZestyAI, a pioneer in AI-powered climate and property risk analytics, has partnered with Donegal Insurance Group to implement its new Roof Age solution for their Personal Lines business.
Insurtech Insights explores 15 innovative companies at the forefront of telematics, showcasing their groundbreaking solutions that leverage data analytics, real-time monitoring, and connected vehicle technology to reshape the insurance landscape and improve customer experiences.
Likewize, a global provider of tech protection, support, and extended warranties, has announced that Genstar Capital has increased its investment in the company.
AXA XL has announced the launch of a new coverage extension for its cyber insurance product designed to address specific risks associated with generative AI (Gen AI).
Kroll, a leading global risk and financial advisory firm, announced the appointment of Katherine Keefe as Managing Director and Global Cyber Insurance Industry Lead.
Herald, a leading digital infrastructure provider for commercial insurance, has announced the successful close of a $12 million Series A funding round.
Insurtech Insights has partnered with ITN Business and is set to launch a new programme, “Redefining Insurance,” at the Insurtech Insights Europe Conference on March 19-20, 2025.
One Inc, a leading provider of payment solutions for the insurance industry, has announced an expanded collaboration with J.P. Morgan Payments.
FWD Group has announced a significant three-year partnership with Roche Diagnostics Asia Pacific, aimed at integrating Roche’s navify® digital healthcare solutions and advanced diagnostic methodologies into FWD’s health insurance services across Asia.
Gradient AI, a provider of enterprise artificial intelligence solutions, has announced its partnership with Michigan Planners, a leading insurance agency specialising in employer group benefits.
Climate change is reshaping the insurance landscape, demanding innovative solutions to address the growing risks associated with extreme weather events.
hyperexponential, a global pricing platform for re/insurers, has announced the launch of its first templated reinsurance pricing model, designed for treaty reinsurance, including Excess of Loss (XoL) agreements.
Penguin Benefits, a provider of parental leave planning technology, has expanded its platform to cover all 50 states and the District of Columbia.
Majesco has announced the launch of its highly anticipated Fall ’24 Release, featuring transformative innovations designed to redefine the insurance industry.
AI is swiftly transforming the insurance industry, and is mainly driven by insurtech startups that are at the forefront of adopting the cutting-edge technology.
US-based insurtech managing general agent Ledgebrook has secured $17 million in a Series B funding round, led by Duquesne Family Office with participation from The Stephens Group, along with continued backing from long-time partners Brand Foundry Ventures and American Family Ventures.
Zego, the commercial and personal lines motor insurer, today announced a significant addition to its board. Stephen Treloar, who is an accomplished and seasoned insurance executive, having previously served as CEO of Allianz PL and LVGI, joins Zego as an Independent Non-Executive Director.
Starwind Specialty Insurance Services, a subsidiary of TIH, has announced a partnership with Stone Point Credit to establish Fractal Re, a new collateralised reinsurer aimed at enhancing reinsurance capacity across Starwind’s diverse portfolio of casualty programmes.
According to a recent report by Bloomberg Intelligence, demand for cyber insurance is anticipated to increase in response to a surge of high-profile cyberattacks.
Lockton has announced the launch of Lockton Pulse, a cutting-edge digital insurance platform designed to cater to the needs of small and medium-sized enterprises (SMEs) and individuals in Australia.
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.
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.
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
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.
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.
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.
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.
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.
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.
Tower Insurance and CelsiusPro have announced the launch of a new parametric insurance platform for Fiji and Tonga, starting with Cyclone Response Cover.
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).
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.
Quantee, a leading InsurTech company, has announced a new partnership with Colombian insurer Seguros del Estado.
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).
Madrid-based insurance startup, Tuio, has successfully raised $16.7 million in a combination of equity and debt.
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.
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.
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.
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.
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).
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.
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.
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.
Swiss Re is forecasting an increase in demand for reinsurance protection due to heightened natural catastrophe risks, macroeconomic instability, and geopolitical tensions.
Vertafore, the leader in modern insurance technology, announced its latest innovation to empower benefits brokers: automated importing for SBC data into BenefitPoint.
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.
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.
WTW has partnered with Canopius and Verita Capital Solutions to introduce a new property insurance facility called the Client Edge Facility.
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.
Zyber Insurance, a US-based firm, has announced a partnership with Citalid, the leading European Cyber Risk Quantification (CRQ) platform.
General Motors Insurance has officially expanded its car insurance offerings to Georgia, continuing its rapid growth across the United States.
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.
Aimii, an AI-specialist, has announced it is partnering with RiverStone International, a leading global acquirer and reinsurer of legacy and discontinued insurance business.
Skyline Insurance has chosen EZLynx, an all-in-one agency management system from Applied Systems, to serve as the foundation for its business 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.
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.
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.
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.
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.
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.
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.
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.
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.
The partnership will provide insurers with AI-powered research and due diligence to enable more accurate underwriting and fraud detection
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
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.
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.
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.
Duck Creek Technologies has launched Policy with Active Delivery, a new product which aims to streamline operations for property and casualty insurers.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Insurtech Insights speaks to three parametric experts about why this swift and transparent approach to insurance is gaining ground in our increasingly unstable climate.
Lemonade has announced the renewal of its reinsurance programme, continuing its partnership with top-tier carriers and achieving an oversubscription across all dimensions.
Akur8, a cutting-edge insurance pricing solution powered by transparent machine learning, announced that LB Forsikring, a prominent Danish property and casualty (P&C) insurance company, has chosen Akur8’s Core Platform solution to boost its market competitiveness.
lyzil – a platform and insurance product developed by the startup Instaful Solutions, is empowering women in Pakistan by offering them a safe space and lifeline against harassment and violence. Joanna England finds out more.
Cytora, a leader in transforming underwriting workflows within the insurance industry, has announced the integration of Autoaddress’ Address Capture into its underwriting productivity tool.
Zurich and Aon have announced the launch of a groundbreaking clean energy insurance facility designed to provide comprehensive coverage for blue and green hydrogen projects worldwide, with capital expenditures of up to $250 million.
Beazley Security has today gone live as an integrated cyber risk management company, following the merger between Beazley’s in-house cyber services team and its wholly owned cyber security company, Lodestone.
Flock, the London-based commercial car insurtech, has announced a new partnership with Admiral Pioneer, Admiral Group’s venture-building subsidiary. The collaboration aims to “transform UK fleet insurance with advanced technology and real-time risk management solutions.”
GRAIL, Inc. , a leading healthcare company dedicated to early cancer detection, has announced the completion of its spin-off from Illumina (NASDAQ: ILMN). GRAIL will be listed and commence regular-way trading on the Nasdaq under the symbol “GRAL.”
Trustfull, a digital risk management and intelligence firm, has launched a new product: Silent Onboarding, which aims to bolster defences against the increasing threat of synthetic identity fraud.
COGITANDA, the cyber specialists, has announced the expansion of its product offering to now cover companies with annual revenues of up to €250 million in Germany and Austria.
Qover, a pioneering insurtech company committed to establishing a global safety net through innovative insurance solutions, today announced the launch of its AI-driven embedded insurance platform.
FloodFlash, a sensor-enabled parametric flood insurance provider, has announced the expansion of its offerings to cover all mainland US locations.
The British Caribbean Insurance Company (BCIC), a leading provider of general insurance in the Caribbean, has unveiled the region’s first omnichannel insurance ecosystem.
Humata Health, a healthcare company specialising in frictionless prior authorisation payments for payers and providers through AI and automation, has successfully raised $25 million.
The Insurtech sector is undergoing a rapid transformation, driven by advancements in AI, IoT, data analytics, and blockchain.
Lloyd’s and Velonetic have announced a postponement of the cutover to phase one of their digital services, originally scheduled for October 2024.
Kinetic Automation, an infrastructure company delivering digital maintenance and servicing for EVs and AVs, has successfully closed a $21 million Series B funding round.
PwC UK achieved a 30% improvement in claims lifecycle efficiency through the implementation of the Appian AI Process Platform.
ZA Tech, a next-generation insurance core system SaaS provider, has rebranded as Peak3 and has also announced the completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures.
CAPE Analytics, a leader in AI-powered property insights for insurance and real estate risk, has announced it is partnering with Vexcel, a leader in aerial imaging.
John Hancock, a unit of Toronto-based Manulife, announced today that it is the first life insurer in the U.S. to offer discounted access to Prenuvo’s state-of-the-art whole-body MRI scans to eligible John Hancock Vitality customers.
Stellantis, the captive automotive finance company, has announced it is partnering with insurtech bolt.
OpenRoad Insurance has selected and implemented Majesco’s P&C Intelligent Core Suite, Digital Customer360, and Digital Agent360.
Columbia Insurance Group has announced it is partnering with Guidewire, utilising their advanced software solutions to enhance their customer platform.
Sapiens International Corporation has launched its AI-powered, open, integrated, cloud-native platform, Sapiens Insurance Platform.
A recent survey tech teams at insurance companies and MGAs by RDT of found that 85% of professionals believe some areas of the market have rushed into automation without putting in comprehensive step-by-step enhancement plans for their platforms.
Insurtech funding has seen a significant uptick in recent weeks with raises almost reminiscent in frequency of the 2021 digital transformation boom.
In a surprising turn of events, Elon Musk has withdrawn his breach of contract lawsuit against OpenAI and its CEO, Sam Altman.
Hippo CEO described the challenges of 2023 and outlined the insurtech’s journey towards greater resilience, during a fireside chat with Bryan Falchuk at Insurtech Insights USA 2024
Yardi, a real estate software company, has announced it is partnering with start-up Obligo who offer innovative alternatives to traditional security deposits.
Insurtechs hyperexponential and Send have announced a partnership seeking to streamline the pricing process for insurers.
Anterior, an insurtech using AI to expedite health insurance approval for medical procedures, has successfully closed a $20 million Series A round at a $95 million valuation.
WTW, the Global Advisory and Broker, has announced it is partnering with Insurtech Software provider Guidewire.
Fixle, Inc., a prominent provider of home management solutions in the proptech and insurtech sectors, has announced its acquisition of EasyHome, Inc., a software developer specialising in modernising property care and management.
Guidewire, a leading platform provider for property and casualty (P&C) re/insurers, has significantly contributed to a $19 million funding round for Indico Data, a company specialising in automating essential workflows for document-intensive industries such as insurance and financial services.
Steadily, a Texas-based provider of property insurance for landlords, has partnered with Tractic.io, a leading Real Estate and PropTech SaaS platform, to enhance and streamline landlord insurance for real estate investors.
Continuity, an insurtech using artificial intelligence and external data for professional and commercial P&C insurers, has announced a successful €10 million Series A funding round.
Understory, a provider of insurance solutions against severe weather losses, has secured $15 million in a Series A funding round to develop a new product for the renewable energy sector.
CoverGo, the no-code SaaS insurtech platform, today announced it is launching CoverGo Distribution, an AI-powered insurance platform for omni-channel distribution.
McKenzie Intelligence Services, a geospatial intelligence specialist, has developed an AI damage classifier to enhance its human-led damage assessments for insurers following catastrophic events.
Sompo, the UK insurer, has recently introduced a new insurance product aimed at middle-market clients.
Allianz Partners has announced it is partnering with Cosmo Connected, a French startup which offers helmets with integrated automatic brake lights, turn signal, fall detection and safety SMS alerts.
Great American Insurance Groups’s Ocean Marine Division has announced it is partnering with Amwins Programme Underwriters, (AMS) to provide coverage solutions via its marine cargo and stock throughput programme.
USI Insurance, the New-York based insurance brokerage and consulting firm, has announced it is launching PATH, a proprietary technology-enabled risk control platform for clients.
Quantee, an insurtech specialising in dynamic pricing software, has announced it is partnering with Zurich Insurance Group to enhance their pricing strategies by leveraging Quantee’s innovative solutions.
PwC’s firms in the United States and the United Kingdom have entered into a landmark agreement with OpenAI, positioning PwC as OpenAI’s first reseller for ChatGPT Enterprise and its largest user to date.
Chubb, the global insurance group has announced it is uniting its three Korean affiliates under the Lina brand, aiming to bring to synergies through the integration of the different brand identities.
Insurtech Founder and CEO, Frank Perkins launched inari in 2017 to help legacy system-based insurance companies digitally transition. Insurtech Insights caught up with him to find out more.
Federal Bank, one of the largest private banks in India has announced a Bancassurance partnership with Tata AIA Life Insurance Co Ltd, one of India’s pre-eminent life insurance companies. The alliance will allow the Bank’s customers to access Tata’s comprehensive insurance product suite.
Insurtech Insights USA 2024, the premier gathering for innovators and leaders in the insurance technology industry, is excited to announce its lineup of top speaker sessions taking place at the Javits Center on June 5th and 6th.
Insurance underwriter Bowhead Specialty has announced it is deploying Kalepa’s Copilot underwriting platform to utilise its advanced AI for improved risk selection and optimal customer experience.
Ascend, a leading provider of financial operations automation software has announced it is partnering with insurtech leader Mylo connecting individuals and business owners with insurance products from over 100 carriers across multiple coverage lines.
FintechOS, a leading end-to-end financial product management platform, has announced it has completed a successful $60 million Series B+. The round was led by Molten Venture, Cipio Partners, and BlackRock alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
Bindable, an insurtech focussed on alternative distribution solutions has announced it is partnering with HoneyQuote, a home insurance comparison tool which is reshaping the way homeowners buy insurance in Florida.
ifeel raises US$20 million to save millions in mental health-related disability, productivity and claims for insurance companies and corporates around the world
Bondaval, a British insurtech which provides protection against payment defaults has secured backing from a leading European Venture Capital.
Canadian Insurtech APOLLO has raised US$13.4 million to establish its buy-now-pay-later (BNPL) subsidiary, Finshore. FinShore will provide a fully embedded monthly payment option to over 100,000 Canadians who are insured with Apollo.
Authentic Insurance, a New-York based insurtech startup has raised US$11 million in a Series A funding round led by First Mark Capital, with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures.
Stride has announced it is partnering with Roadie to provide comprehensive support to independent drivers across the USA.
Optalitix, the award winning insurtech specialising in data analytics solutions, announced today that it is partnering with Pool Re to implement a new end-to-end treaty and claims management system with full auditability and enhanced reporting.
Corvus Insurance, a leading cyber underwriter powered by a proprietary AI-driven cyber-risk platform, has announced that it will expand its underwriting capabilities and cyber services for policy holders.
Swiipr, a travel paytech company announced it has secured US$7.6 million in funding to further develop its platform aimed at disrupting and revolutionising airline disruption payments.
One80 Intermediaries, a Boston-headquartered specialty insurance broker has revealed an innovative AI warranty coverage for enterprises which was developed in partnership with Armilla AI.
Swiss-based Insurtech discovermarket has announced its entry into the Philippine market through a partnership with Globe. The collaboration aims to introduce embedded Personal Cyber Insurance, targeting Globe’s existing Platinum subscribers.
Lloyd’s, the world’s biggest marketplace for insurance and reinsurance, today revealed it has signed a Memorandum of Understanding with the Bermuda Monetary Authority (Authority OR BMA) committing to working in partnership to support, develop and share knowledge across the international insurance market.
Group Medical Services (GMS), the Canadian Health Insurance provider has announced it is partneringwith no-code SaaS CoverGo, to transform its digital ecosystem.
Marsh McLennan, the Global Re/Insurance broker has announced the launch of Sentrisk, an AI-Powered platform which offers integrated advisory services. Sentrisk aims to reshape the way that businesses manage their global supply chain risks.
Lloyd’s Lab, the renowned 10-week innovation accelerator, is now accepting applications for its 13th cohort.
Josh Ofman, President of GRAIL, shares insights on his medical career, advancements in cutting-edge cancer detection, and transformative healthcare technologies.
In recent years the focus on Environmental, Social and Governance (ESG) has grown and an organisation’s actions in these areas can have a considerable impact on overall reputation.
MAPTYCS Inc., a prominent firm specialising in property and climate risk exposure management, has entered a strategic partnership with Risk Management Partners (RMP), a division of Munich Re.
Transcarent, which provides a comprehensive health and care experience for employees and their families led by Glen Tullman, has launched an AI-driven solution on May 15, 2024, to simplify healthcare navigation.
CLARA Analytics, a provider of AI technology for insurance claims optimisation, has expanded its partnership with Origami Risk, a risk, safety, and insurance SaaS provider.
WTW has announced a partnership with Riskonnect, a provider of risk management software solutions, to pilot an analytical tool that connects claims and exposure data through WTW’s new Risk IQ API.
Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), has launched Prime Tech with Cowbell Co-Pilot, a generative AI solution designed to streamline underwriting within its Prime Tech offering.
Swiss Re has introduced an enhanced version of its market-leading Life & Health underwriting manual, Life Guide. The updated version features Swiss Re Life Guide Scout, an underwriting assistant powered by Generative AI.
Tesla is recalling 3,878 Cybertrucks to address a faulty accelerator pedal pad that could come loose and become trapped in the interior trim.
PwC has achieved the Guidewire Migration Acceleration Specialisation, aimed at facilitating insurers’ transition to Guidewire Cloud with enhanced efficiency and cost-effectiveness.
ICEYE, a global leader in satellite-powered disaster management solutions, has finalised a definitive agreement for an oversubscribed US$93 million growth funding round, with Solidium Oy at the forefront.
Cyber insurtech Coalition has revealed new integrations between its cyber risk management platform, Coalition Control, and leading cloud services providers Microsoft 365, Google Workspace®, and Amazon Web Services.
Sayata, a leading provider of innovative insurance solutions tailored for small and medium-sized businesses (SMBs), has launched the Sayata Risk Engine.
Yotta Automated Software Solutions Inc. (YASSI), a company renowned as the premier platform for real-time vehicle lienholder, registration, and title data, has announced its participation in Guidewire’s Insurtech Vanguards programme.
Coalition has unveiled a new addition to its US Surplus and Canada Cyber Insurance policies: the Affirmative Artificial Intelligence (AI) Endorsement.
EIS has introduced ClaimSmart, a cutting-edge cloud solution poised to transform the claims management landscape.
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