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According to the global consulting firm McKinsey, best-in-class insurers are “putting distance between themselves and their competitors” by applying advanced data and analytics.
Fountain Life, a Naples, FL-based preventative health and longevity company, raised $15M in funding.
Walnut Insurance, a technology company that provides infrastructure for embedded insurance, announced their $4M seed round, with ATB Financial and NAventures, National Bank of Canada’s corporate venture capital arm, as the lead investors. Other investors include Harvest Venture Partners, Highline Beta, and N49P.
Which are the main factors driving the possibility that a company and its board of directors may be sued by investors or other stakeholder groups in 2023? A poor financial performance or even insolvency amid economic uncertainty and the prospect of a global recession, a lack of robust cyber security and governance processes, or an inadequate or non-compliant response to environmental, social and governance (ESG) issues are among the key risk trends in the Directors and Officers (D&O) insurance space, according to Allianz Global Corporate & Specialty (AGCS). Despite a downward trend in new filings, US class action securities litigation remains a key concern, particularly around mergers, while cryptocurrency companies and exchanges are subject to increasing activity, the insurer’s annual D&O report also notes.
Insurance startup At-Bay announced that its Miscellaneous Professional Liability insurance product will now be available via API to wholesale brokers, multi-carrier platform providers, and other distribution partners who service the insurance and small-to-medium sized business community
The magic word to bridge a widening gap between successful and underperforming InsurTechs in 2023 is ‘data,’ according to a group of InsurTech experts who spoke with Carrier Management about their predictions for the new year.
$10 Million in Funding, new Patent for AI Technology, Product Innovation, and Executive Hire with Deep AI Experience Mark Another Successful Year for the Company
Legal & General Group plc (“Legal & General”) announces that it has agreed its first Pension Risk Transfer (PRT) transaction in Canada for more than CAD $200 million (£114 million). The Canadian PRT market is an attractive and fast-growing market, which has more than doubled in size over the last five years to reach sales in 2018 of CAD $4.6 billion (£2.6 billion).
Oyster, an insurance technology company that provides personal insurance through seamless point-of-sale and post-purchase experiences, today announced that it has raised a $3.6 million financing round.
Chubb, the world’s largest publicly traded property and casualty insurance company, announced today it will launch a new technology services center in Thessaloniki, Greece in early 2023 to deliver innovative technologies that enhance the customer experience, increase efficiency and accelerate the company’s digital transformation.
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