We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
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.
Insurtech Insights Europe has experienced its busiest year yet, with more than 6,000 insurance industry delegates pouring through the doors for the fifth edition of the annual conference.
Buddy, a pioneering insurtech leading the future of embedded insurance, today announced that they have become a Stripe platform partner in order to introduce novel e-commerce capabilities for the insurance sector.
The global cyber insurance market is poised for another year of growth in 2024, but experts warn of increased risks lurking beneath the surface, reports the latest Insurance Risk Monitor by OAC, a leading actuarial consultancy.
Novidea, a leading provider of cloud-based enterprise insurance management solutions, has announced its newest product release, showcasing significant enhancements tailored to meet the evolving needs of its diverse customer base worldwide.
The integration of Equisoft/illustrate, a powerful insurance illustration software, streamlines sales processes and accelerates Family Guardian’s digital transformation.
In a move aimed at enhancing its cyber risk assessment capabilities, Cyberwrite, a leading cyber risk assessment company, has unveiled a strategic partnership with Howden, a prominent global insurance intermediary group.
Virtuoso is a leader in software testing for the insurance industry – a service currently in huge demand. We caught up with their CEO, Derren Nisbet, to find out more
EIP’s dynamic CEO and Founder, Ross Sinclair tells us what it was like, to launch an insurtech, before insurtech was a ‘thing’
In a move to bolster its digital capabilities, property and casualty insurer Encova Insurance has announced its partnership with Guidewire.
Physicist and former rocket scientist, Dr Christian Westermann, is taking Zurich’s AI transformation stratospheric. Insurtech Insights finds out more.
Lloyd’s, the renowned marketplace for insurance and reinsurance, has released a groundbreaking report today shedding light on the transformative influence of Generative Artificial Intelligence (GenAI) on the cyber threat landscape.
In a groundbreaking collaboration, insurer Aviva and autonomous vehicle operator Darwin Innovation Group unveiled the Darwin Autonomous Shuttle in late 2021, marking the UK’s longest-running self-driving passenger service.
Agio Ratings, a London-based startup specializing in crypto risk analytics, has announced a successful fundraising round totaling $4.6 million.
Sweet Security, an Israeli startup specialising in addressing cloud risks for companies, has successfully raised US$33 million in a Series A funding round.
Krishna Moorthy is a Senior Lecturer, Consultant Surgeon and now, the Director and Founder of Alvie Health – an insurtech with a difference.
Optalitix has introduced significant enhancements to its flagship products, Optalitix Models and Optalitix Quote.
Zinnia has announced its acquisition of the life and annuity assets of Ebix, a renowned supplier of software solutions.
Insurtech insights caught up with Nigel Walsh, Head of Global Insurance for Google Cloud, to find out what this podcaster, author and all round industry guru had to say about the state of insurance in 2024.
From front line fatigues to the startup circuit, Kobi Bendelak swapped his successful military career for the insurance industry – and now supports tech entrepreneurs seeking to disrupt through innovation.
Hugo Farinha, Co-Founder and CTO of Virtuoso explores the digital transformation journey, and ways companies can leverage technology to boost performance in the marketplace.
APOLLO Insurance, a prominent digital insurance provider in Canada, has launched a new feature enabling customers to access credit reporting services through its partnership with Zenbase.
Planck, a leading player in the insurtech sector, has been recognised by Gartner as a standout innovator in the insurtech space for its use of Gen AI.
Chubb has announced stellar fourth-quarter earnings, fuelled by a combination of factors including a tax benefit, robust property/casualty underwriting income, and substantial gains in life insurance net premiums written.
From a career in Law to running the most talked-about insurtech in the industry today, Joanna England gets the CEO scoop from Lemonade’s Co-Founder, Daniel Schreiber.
Coalition has announced the launch of its Miscellaneous Professional Liability (MPL) Insurance.
Insurity has unveiled its latest analytics solutions empowered by AI-driven insights, promising to reshape the landscape of decision-making for P&C insurance carriers.
Switzerland-based startup CarbonPool, founded by former Allianz executives, has successfully concluded a significant funding round aimed at revolutionising the carbon credit market.
The past three years have been a rollercoaster ride for insurtechs globally. Gil Arazi, Founder & Managing Partner of FinTLV, gives Insurtech Insights his ‘eye-of-the-storm’ perspective.
Insurance industry finally ready for digital transformation with 75% of insurance organisations ready to swap core management platforms by 2025 – Novidea global report reveals
AgentSync has launched the ProducerSync API, the inaugural offering in its commercial API suite, aimed at streamlining insurance producer onboarding and compliance procedures.
Spotr, an innovative Dutch AI-powered property data platform, has successfully secured €4.5 million in funding.
Simon Hughes, VP and General Manager at Cowbell discusses mitigating risk at the broker level through a four-stage framework
Toolbox by Admiral, the business insurance arm of Admiral Group, has announced that it has rebranded to Admiral Business to “better reflect the company’s core focus”.
Verisk has expanded its collaboration with Duck Creek by incorporating MSP Navigator into Duck Creek’s Content Exchange based in Boston.
Affectionately known as ‘The InsurTech Queen’, Sabine VanderLinden is a pioneer in the startup space. Insurtech Insights unravels her story.
Maine Employers’ Mutual Insurance Company (MEMIC), workers’ compensation insurance specialists, has partnered with CLARA Analytics, a leading provider of artificial intelligence (AI) technology for insurance claims optimisation.
Verisk has taken action to meet the demands of claims organisations in the insurance industry by introducing the Verisk Claims Advisory Board.
Motor insurer, Zego, has announced the official launch of its new Business Van Insurance product.
Akur8 has announced a strategic partnership with Ohio Mutual Insurance Group, one of the premier insurers in the United States. According to reports, Ohio Mutual’s
hyperexponential has raised US$73 million in capital in its Series B funding round, led by Battery Ventures, with participation from leading Silicon Valley investor a16z, and existing Series A investor Highland Europe, which increased its holding., three years after its Series A round.
Verisk has announced the completed the acquisition of Rocket Enterprise Solutions GmbH, an insurtech provider based in Germany specialising in the property claims sector.
We dive into the world of embedded insurance with Marat Nevretdinov, the accomplished Managing Director of HDI Embedded as he discusses the future of embedded services in a global context.
PCF Insurance Services has announced its partnership with AgentSync.AgentSync, a leading player in insurance producer and compliance management.
Cowbell has announced the extension of its coverage to mid-market businesses. This expansion caters specifically to enterprises with an annual turnover of up to £1 billion.
ZEEKR, the prestigious international electric mobility brand under the umbrella of Chinese automotive giant Geely, has joined forces with the innovative embedded insurance startup, Qover.
Zurich Insurance Group has announced the launch of the fifth edition of the Zurich Innovation Championship, a global startup program that has gained industry acclaim since its initiation in 2018.
Global cloud insurance software solutions leader, Majesco, has announced a strategic move by acquiring the Decision Research Corporation (DRC) business—a significant player in SaaS-based insurance software.
Duck Creek Technologies has announced it’s latest collaboration with CAMCOM, an AI-powered platform specialising in visual inspections across various industries.
Berkshire Hathaway Specialty Insurance (BHSI) has broadened its partner network and bolstered its internal team with seasoned multinational experts to expand its network and upgrade its technology systems.
Howden has reported a notable shift towards stability in the reinsurance market in its latest annual market report, entitled, “A New World.”
Devoted Health, the tech-enabled Medicare Advantage startup, has successfully secured US$175 million in fresh funding.
Independent insurance broker Lockton has partnered with Artificial Labs, a pioneering insurtech specialising in algorithmic underwriting.
From cyber insurance and generative AI, to embedded offerings and climate risk technologies, the insurance space over the next 12 months will see huge changes.
Dan Bratshpis is the CEO of INSHUR, the fastest-growing global provider of insurance for the on demand economy. He is passionate about providing businesses and workers with seamless insurance solutions.
Allianz Life and Munich Re Automation Solutions are set to unveil a cutting-edge Software as a Service (SaaS) underwriting solution, marking a significant stride in their collaborative efforts.
Redactable, a cutting-edge AI-driven web application specialising in the redaction of sensitive documents, has successfully raised $5.5 million in seed funding.
Last week, the European Parliament and Council reached a landmark political agreement on the European Union’s Artificial Intelligence Act (“EU AI Act”), concluding months of intense trilogue negotiations.
Prasad Prabhakaran, Generative AI Practice Lead at esynergy, examines the pros and cons of regulating AI and the UK’s AI Summit, in the wake of the EU AI Act.
Originally intent on a career in medicine and forensic science, Shelley Ma credits her ADHD for a career switch that saw her swap the mortuary for the cyber insurance space.
Beazley, a leading specialty insurer, has announced the appointment of Patricia Kocsondy as the new Head of Global Cyber Digital Risks.
The Toronto-based startup Terminal is on a mission to become the Plaid for telematics data in the commercial trucking industry, as it successfully closes a US$3.1-million ($4.2 million CAD) seed round.
Cytora and Relativity6, a provider of industry classification modelling, have announced a partnership which will enable Relativity6’s models to be used to enhance the underwriting process within Cytora.
Swiss Re has successfully acquired Fathom, a prominent UK-based company, to bolster its capabilities in addressing water-related risks in the face of current and future climate scenarios.
AI is transforming the insurtech space – bringing with it many benefits – and reservations. We spoke to Darian Acosta, Chief AI Officer for the commercial trucking insurtech, Cover Whale, to find out how telematics technology is being used to transform fleet insurance and driver safety – and its impact on the job market.
BirdsEyeView, an insurtech startup backed by the European Space Agency, has successfully concluded a funding round, securing a significant seven-figure investment.
Hiscox, a prominent UK insurer, has made waves in the insurance industry by collaborating with Google to develop an artificial intelligence (AI) model designed to revolutionise the core underwriting process for specialist risks.
Voom has announced the launch of a new insurance solution to address the needs of the gig economy.
NOW Insurance, a full-stack, AI-enabled commercial insurance platform specialising in medical professional liability coverage, recently launched coverage for physicians and physician groups in their online platform.
Insurance industry leaders discussed the remarkable comeback of OpenAI’s CEO, Sam Altman, following his equally unexpected fall from grace just days ago.
Marsh McLennan has introduced LenAI, a revolutionary generative AI tool crafted at the company’s Dublin Innovation Centre in collaboration with Oliver Wyman Digital
Swiss Re’s comprehensive research reveals the role of digital Electronic Health Records (EHRs) in expediting and enhancing underwriting decisions in the life and health insurance sector.
Chubb has unveiled a significant expansion in its digital integration capabilities through the introduction of a new developer portal within Chubb Studio®.
Taking a human-first approach in an increasingly digitised environment is a challenge Robert Burr, CEO of Swiss Re’s iptiQ is more than happy to take up. Insurtech Insights caught up with this dynamic CEO to find out more.
UK insurtech Anansi has announced a triple collaboration with Tokio Marine HCC, Liberty Mutual and Arch Insurance to introduce a pioneering parametric goods-in-transit insurance tailored for large retailers.
Guidewire has joined forces with Swiss Re Reinsurance Solutions to transform the insurance landscape by leveraging cutting-edge technology.
ICEYE, a provider of natural catastrophe solutions and insights, has expanded its constellation by introducing four new synthetic aperture radar satellites.
E.design, an insurtech company affiliated with the Tokio Marine Group, has selected Guidewire Cloud to strengthen its core operations. Guidewire has also announced the release of its new cloud solution, Innsbruck.
The growing cyber threat to businesses globally has seen the insurance industry mobilise into action. Insurtech Insights explores the regulatory and technical minefield of the cyber insurance space
Citizens Property Insurance Corporation, a prominent not-for-profit insurer based in Florida, is set to enhance its underwriting capabilities by adopting Verisk’s Aerial Imagery Analytics solution.
Lemonade will hit profitability in the next 24 months, says the insurtech’s CEO, Daniel Schreiber, who also said the Israeli/American company was rallying, despite the geopolitical turmoil from the war in Gaza.
Paris-based insurtech Flitter has successfully secured €3.5 million in a recent funding round aimed at expanding its usage-based car insurance offerings.
Federato has unveiled a groundbreaking partnership with Google Cloud to integrate cutting-edge capabilities into its RiskOps underwriting platform.
As Storm Ciaran continues to batter the UK, PwC UK has forecasted insurance losses stemming from Storm Babet, estimating the range to be between US$550-$800 Million.
Cyber insurance pricing has witnessed a 2% global decrease in the third quarter of 2023, marking the initial average downturn since the latter half of 2018, as reported by insurance broker and risk advisor Marsh, a subsidiary of Marsh McLennan.
WTW has announced a strategic collaboration with CSAA Insurance Group, leveraging WTW’s cutting-edge Radar software.
Insurtech Insights sits down with Socotra’s Chief Business Officer, Ekine Akuiybo to find out why technology will address California and Florida’s current problems, and how AI fits into the whole equation
The Consolidated Appropriations Act of 2023, introduced earlier this month impacts all insurers in the US offering the latest data collecting devices.
Guidewire has announced a new collaboration with EvolutionIQ as a new Solution partner on Guidewire PartnerConnect.
Upfort, a San Francisco-based cybersecurity and insurance provider, has successfully raised $8 million in a Series A funding round.
Insurtech firm DGTAL has introduced GRABBER, a cutting-edge Intelligent Document Processing tool, as part of its Software-as-a-Service (SaaS) platform specialising in AI-driven audit solutions for insurance portfolios.
Canopy Connect, the leading platform for collecting, verifying, and monitoring insurance information has announced the closing of a US$6.5 million Series A funding round.
Singapore-based cyber risk management firm, Protos Labs, has triumphantly concluded its seed funding round, raising US $2.1 million (SGD $3 million).
Leading cloud-based customer communications management (CCM) solutions provider, Messagepoint, and prominent codeless platform, Unqork, have forged a partnership to empower life insurers in the pursuit of modernising customer experiences effortlessly, without the need for coding.
ClimateTech firm Previsico, renowned for its live flood alert solutions, has successfully concluded its latest funding round, marking a substantial increase in valuation compared to the previous round in August 2021.
AXA XL Risk Consulting has launched AXA Immersive Solutions, a groundbreaking training solution that harnesses the power of Virtual Reality (VR) and Digital Twin technologies.
Arity, a prominent mobility and data analytics company, has officially launched its Arity IQSM network and attributes dataset on Google Cloud’s data exchange platform, Analytics Hub – a platform that empowers auto insurers with enhanced pricing accuracy.
James Cowen, Chief Commercial Officer (CCO) at HUMN.ai, discusses how telematics is revolutionising risk management for fleet managers
Prove, a leading provider of digital identity solutions, has successfully concluded a funding round, raising $40 million. The funding round was led by MassMutual Ventures and Capital One Ventures.
A recent report by Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, claims that up to 90% of insurers are at a disadvantage due to their current operating models, deemed inadequate to meet future business needs.
Lloyd’s has unveiled a startling assessment of the global economy’s vulnerability to a potential cyber attack, estimating a staggering $3.5 trillion in losses over a five-year period.
Lockton Re has entered into a long-term partnership with Supercede, a leading reinsurance technology provider, to refine its reinsurance data processing.
A recent investigation by Hiscox has uncovered a disturbing pattern of escalating cyber attacks on businesses, marking the fourth consecutive year of growth in such incidents.
Lloyd’s has launched a groundbreaking systemic risk scenario, unveiling the potential worldwide economic consequences of extreme weather events leading to food and water shocks.
Ukraine has officially launched a data platform, developed with the support of Marsh McLennan, providing a robust tool for insurers, investors, and governments to assess war risks within the country.
A new report from Swiss Re has found that China has leapt an incredible 10 places, according to the insurance giant’s index on digital adoption – documented in a new report from the Swiss Re Institute.
In a groundbreaking move, global re/insurance broker Aon has undertaken a significant transformation in its reinsurance claims processing, leveraging the advanced capabilities of the Appian Platform
Kita, a leading carbon insurance specialist and Lloyd’s of London coverholder, has joined forces with Puro.earth, an ICROA-backed carbon standard.
Breach Insurance, a Boston-based global insurance underwriter that provides insurance technology and regulated insurance products for the cryptocurrency market, has announced the launch of Crypto Shield Pro – an innovative crypto custody insurance policy for institutional clients of crypto custody solutions.
Majesco has announced that it ranked as the #1 leader in Quadrant Knowledge Solutions “SPARK Matrix: P&C Core Insurance Platform, 2023” and SPARK Matrix: Life Insurance Policy Administration System, 2023” reports.
SkyWatch, a leader in digital insurance has announced the strategic acquisition of Droneinsurance.com’s assets.
Akur8, the next generation insurance pricing solution powered by transparent machine learning, is excited to announce its Platinum sponsorship of the 2023 CAS Annual Meeting for the third year in a row.
Reserv, a frontrunner in AI-powered insurance claims processing, has successfully concluded its Series A funding round, securing $20 million to enhance its generative AI tools for claims data analysis.
Laura Kauther, Commercial Director at ELEMENT, discusses why ‘insurers’ will still thrive when the word ‘insurance’ is not relevant anymore.
With a passion for technology and 25 years in the fintech space, Teo Blidarus, CEO and Co-Founder of FintechOS, is on a mission to make financial innovation available to all companies globally. Insurtech Insights caught up with him to find out more.
Joel Agard, Zurich Insurance Group’s (Zurich) Group Head of Innovation, and Antony Elliott, Zurich’s Group Head of Digital R&D, are responsible for coordinating and managing one of the most respected accelerator programmes in the insurance industry globally – the Zurich Innovation Championship. Joanna England caught up with them to find out more.
Pibit.ai, an insuretech revolutionising commercial underwriting with AI automation, has announced its partnership with Guidewire’s Insurtech Vanguards programme, an initiative led by property and casualty (P&C) cloud platform provider, Guidewire (NYSE: GWRE), to help insurers learn about the newest insuretechs and how to best leverage them.
Parametric insurtech Blue Marble and global conglomerate Nestlé, have partnered to deliver weather insurance to coffee farmers in Indonesia.
CoverGo, a leader in the global Software as a Service (SaaS) no-code insurance core platform for health, property and casualty (P&C), and life, has secured a patent for its cutting-edge drag-and-drop product builder.
London-based Managing General Agent (MGA), Skyrisks Ltd., specialising in the advanced air mobility (AAM) sector, has marked its official launch, buoyed by a substantial investment and capacity support from Convex Group, a prominent specialty re/insurer.
Resistant AI, specialists in financial crime prevention harnessing the power of AI and machine learning, have announced a strategic partnership with Instabase, a leading unstructured data automation platform.
In a swift response to potential concerns related to reinforced autoclaved aerated concrete (RAAC), AXA Commercial has harnessed the power of an advanced AI tool, significantly expediting its ability to identify affected customers.
HealthTech GRAIL has secured a coveted spot on Fortune’s 2023 Change the World List. This marks the ninth year of the prestigious list, which highlights companies making positive contributions to society through activities integral to their core business.
Measured Analytics and Insurance, a prominent cyber insurance Managing General Agency (MGA) based in the US, has introduced CyberGuard 2023, a state-of-the-art AI-driven cyber insurance product designed to fortify the cybersecurity defenses of Small and Midsize Enterprises (SMEs).
At-Bay has announced the recent appointment of Kristie Felton as the insurtech’s new Head of Insurance.
On-demand insurance platform INSHUR has launched its insurance offering for on-demand livery drivers in Arizona, its second state in the US following its success in New York.
QBE North America, the global insurance leader helping customers solve unique risks, in partnership with Leading Cities, has unveiled the 10 finalists for the 2023 QBE AcceliCITY Resilience Challenge main track, along with the victors of the property tech track.
USAA, a leading financial services provider, has announced an expansion of its collaboration with Resideo Technologies, based in Scottsdale, Arizona, to bolster its commitment to safeguarding homes and optimising efficiency.
Aon plc has launched its cutting-edge insurance solution, FI Protect 360, in collaboration with esteemed London market insurers.
Chubb has entered into a strategic partnership with SentinelOne, a frontrunner in the cybersecurity industry. The collaboration aims to revolutionise cyber risk management practices for businesses across the US.
Peppercorn, the conversational AI platform designed for the insurance sector, has partnered with Aurum Solutions, specialists in next-generation reconciliation software, to streamline their reconciliation processes.
Bold Penguin has forged a strategic partnership with NEXT Insurance, a leading technology-driven insurer specialising in small businesses, with the aim of enriching the range of coverage options available on the Bold Penguin Terminal.
Redline Underwriting, a Managing General Agent (MGA), has achieved official recognition as a Lloyd’s coverholder, marking a milestone in its ongoing expansion efforts.
Hexure, a leading provider of sales and regulatory automation solutions catering to the life and annuity sector, has officially completed the acquisition of Vive, an innovative startup specialising in quote and e-submission solutions for the life insurance industry.
Guidewire has announced that specialty P&C insurer RLI, a US-based specialty property and casualty (P&C) insurer, implemented Guidewire ClaimCenter on Guidewire Cloud to power its claim operations and enhance the claim experience for agents and policyholders.
Allianz Versicherungs-AG has announced it is expanding its partnership with Fleetpool – one of the largest providers of car subscription models in the B2C and B2B2E sectors in Germany – in a targeted manner to usher in more ESG mobility offerings and support net zero regulations in Germany.
In a groundbreaking move, Mulberri, an innovative AI-driven embedded insurance startup, has unveiled its cutting-edge Certificate of Insurance (COI) platform.
Markel, a prominent specialty insurer, and cutting-edge insurtech firm Cytora have unveiled the extraordinary outcomes of their collaborative effort, which have led to an astounding 113% increase in productivity (Gross Written Premium per Full-Time Equivalent) for Markel’s underwriting team.
Authentic, the turnkey insurance platform catering to vertical Software-as-a-Service (SaaS) enterprises, has successfully raised US$5.5 million in seed funding.
New York City, Washington DC, and Los Angeles are among the major US cities that have the highest chance of experiencing outbreaks of damaging civil unrest in the next 12 months, according to a new predictive data model released by Verisk’s global risk intelligence unit, Verisk Maplecroft.
New technologies are enabling businesses to predict a whole new spectrum of risks related to political instability, rioting, strikes, terrorism, warfare and more. Insurtech insights talks to Torbjorn Soltvedt, Principal Analyst at Verisk Maplecroft, to find out how.
NEXT Insurance, the prominent digital small business insurer, has unveiled a game-changing feature that empowers agents to finely customise coverage quotes, thus better serving the unique requirements of their small business clientele.
Planck has unveiled an innovative underwriting tool named Planck PLUS – a new platform that incorporates advanced Generative AI (GenAI) functionalities, marking a significant milestone in the evolution of underwriting processes.
Hollard has successfully expedited its operations with the adoption of the cloud-based Guidewire ClaimCenter. The insurer’s transition to this innovative platform has yielded promising results.
From showroom sales to CEO, Sri Ramaswamy, Founder of Charlee.AI, talks to Insurtech Insights about her climb to the top and her passion for insurtech
In our latest insurtech investment funding round-up, we look at SEVEN companies that have raised significant amounts of capital that will drive their scaling strategies and disruption in the industry.
Beam Benefits, a trailblazing digital employee benefits company, announced today that it has successfully secured $40 million in funding.
Blackstone has launched a new restructuring effort, consolidating its corporate credit, asset-based finance, and insurance divisions into a unified entity known as Blackstone Credit & Insurance (BXCI).
Chubb has today announced the launch of a new Lloyd’s of London consortium it will lead that is designed to provide insurance coverage for risks associated with the transit and storage of lithium batteries.
In a strategic move geared towards strengthening its renewable energy insurance services in Brazil, Tokio Marine, a major international specialty insurer, has forged a partnership with Clir Renewables (Clir), a global market intelligence platform specialising in wind and solar energy.
Cincom Systems®, a global leader in Customer Communications Management (CCM) solutions, has announced a strategic partnership with Socotra Inc.
Private specialty insurance group, Coaction Global, has secured approximately US$200 million in a recent capital injection to propel its evolution into a comprehensive specialty insurance provider.
DGTAL, a pioneering insurtech specialising in AI-powered tools for insurance portfolios, has successfully secured US$3 million in strategic funding from various investors.
Inari, a Barcelona-based insurtech that provides core technology infrastructure for the global insurance and reinsurance sectors, has raised US$5.2 million in funding through a seed round led by Caixa Capital Risc in partnership with Criteria Venture Tech.
The latest data from Swiss Re suggests the non-life reinsurance sector will continue to see growth, as insurers proactively anticipate and manage risks to catastrophic events.
CLARA Analytics, a leading provider of artificial intelligence (AI) technology for insurance claims optimisation, today announced its $24 million Series C funding, bringing its total funding to $60 million.
Partners Life, one of New Zealand’s largest private life and health insurance companies, has become the first insurer to successfully launch medical claims on the FINEOS Platform, as outlined in a new case study.
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has unveiled Circ, its cutting-edge regulatory solution designed to monitor, analyse, interpret, and execute regulatory modifications.
Verisk Maplecroft, the risk intelligence business arm of Verisk, has launched a new predictive strikes, riots, and civil commotion (SRCC) data model, providing forecasts for thousands of global locations on the potential for damaging civil unrest events to emerge.
SME cyber insurance provider Cowbell, will expand its offerings in the UK with the launch of its AI-powered standalone cyber insurance programme – Cowbell Prime One.
In a groundbreaking partnership, the International Federation of Red Cross and Red Crescent Societies (IFRC), along with Aon, Lloyd’s Disaster Risk Facility, and the Centre for Disaster Protection, has unveiled a revolutionary financial tool aimed at transforming disaster response efforts.
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