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We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Sentiment Analysis: The Power of Large Language Models
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.
Indian Insurtech Go Digit Secures US$141 Million from Anchor Investors Ahead of IPO
Indian insurance startup Go Digit has successfully raised US$141 million from numerous investors in anticipation of its upcoming initial public offering (IPO).
Cover Genius Raises US$80 Million in Series E Funding Amidst Tech Funding Slowdown
Leading embedded insurance provider Cover Genius, has announced the successful closure of its $80 million Series E funding round.
MAPTYCS Inc. Partners with Munich Re to Strengthen Property and Climate Risk Management
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.
Clearcover Partners With Ada To Deploy Customer-Facing AI Solution
The leading insurtech aims to uplevel its customer service experience with the integration of the generative AI-powered tool into its platforms
Transcarent Introduces GPT-4 Powered AI Bot for Health Insurance Assistance
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.
AXA Partners with Universal Postal Union to Drive Inclusive Insurance Solutions Worldwide
In a landmark move aimed at extending financial security to lower to middle-income households and small businesses, AXA has forged a strategic partnership with the Universal Postal Union (UPU), a pivotal agency of the United Nations dedicated to coordinating global postal policies.
Qover Partners with bunq to Introduce Travel Insurance Across Seven Markets
In a move aimed at enhancing user experience and bolstering its service offerings, bunq, the second largest neobank in Europe, has joined forces with leading insurtech Qover.
Coalition Enters Excess Cyber Insurance Market in Australia
Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today announced it entered the excess cyber insurance market in Australia, enabling businesses to add a layer of risk management to their cyber towers.
Chapter Medicare Raises US$50 Million in Series C Round to Enhance Senior Healthcare Navigation
In a significant stride towards revolutionizing senior healthcare accessibility, Chapter Medicare, a leading Medicare broker headquartered in New York, has successfully raised $50 million in its Series C funding round.
Manulife and John Hancock Forge Strategic Partnership with MIT
John Hancock and its parent company, Manulife, have unveiled a comprehensive five-year collaboration with the Massachusetts Institute of Technology (MIT) AgeLab.
LEADERSHIP SPOTLIGHT: Discovering Startup Innovation with HITS CEO, Pietro Carnevale
Matchmaking startup innovations with incumbent challenges is a passion for Pietro Carnevale – CEO of Generali’s House of Insurtech Switzerland (HITS)
Tokio Marine HCC Specialty Group Introduces London-based Product Recall Team
Tokio Marine HCC Specialty Group, a member of the Tokio Marine HCC group of companies, has initiated the establishment of a new Product Recall offering in London, alongside strategic appointments to its Crisis Management team.
Everest Insurance Expands APAC Reach with Australian Arm Launch
Everest Insurance, the insurance division of Bermuda-based re/insurer Everest Group, Ltd., has officially unveiled its Australian Insurance operations following approval from the Australian Prudential Regulation Authority.
Maritime Insurance Tech Startup Vanguard Raises US$1 Million in Funding Round
Maritime technology startup Vanguard has successfully secured US$1 million in new funding aimed at advancing its automated insurance underwriting platform for maritime operations.
JAB Holding Company Expands into Global Insurance with Industry Veteran Anant Bhalla at the Helm
JAB Holding, known for its substantial investments in Krispy Kreme, Pret A Manger, and Coty, has announced it will launch a comprehensive insurance platform under the leadership of industry veteran Anant Bhalla, who joins as Senior Partner and Chief Investment Officer.
ICEYE Introduces Cutting-Edge Satellite Solutions for UK Insurance Sector
ICEYE has unveiled a suite of advanced offerings tailored for the UK insurance market, aimed at enhancing flood risk assessment and mitigation capabilities.
WTW Launches Facility for Cargo and Land Warfare Risks in Ukraine
Global advisory, broking, and solutions firm WTW has unveiled a pioneering facility in partnership with Ukrainian insurer, VUSO, designed to cover cargo and land warfare risks in Ukraine.
QBE Insurance Group Reports Steady Growth in Gross Written Premium for Q1 2024
QBE Insurance Group has released its performance update for the first quarter of 2024, revealing a modest uptick in gross written premium (GWP) during this period.
LEADERSHIP SPOTLIGHT: Richard McCathron, President and CEO Hippo Insurance
As the CEO and President of Hippo, Richard McCathron is a well known and respected industry leader.
Combating Rising Crime: Beazley’s Deadly Weapons Protection Expert, Justin Peterson, Talks Future Solutions
Justin Peterson, one of Beazley’s leading Deadly Weapons Protection (DWP) underwriters, talks to Insurtech Insights about the rising demand for cover, and how the insurance industry is helping to reduce the consequences of weapon-related violent crime.
Aon Launches Updated Pricing Platform Software
Aon, the global insurance and reinsurance brokerage, has introduced an update to its Pricing Platform, designed to offer re/insurance underwriters enhanced visualisation and automation capabilities.
Mercury Insurance Partners with Tokio Marine America to Transition Customers
Mercury Insurance and Tokio Marine America (TMA) are working together to develop a plan to transition customers of TMA and its subsidiary, Trans Pacific Insurance Company (TPIC), to Mercury Insurance.
Cover Genius Partners with Fintech Adyen for Payment Processing
Insurtech firm Cover Genius has announced a new partnership with Adyen, selecting the FinTech company as its latest payment processing partner.
Marsh Introduces MiCAssure: New Insurance Solution for EU Crypto-Asset Providers
Marsh has announced the launch of MiCAssure, a proprietary insurance solution tailored for crypto-asset service providers such as custodians, exchanges, and administrators operating within the European Union.
Go Digit IPO to Launch May 15 as Insurtech Unicorn Aims to Boost Capital Reserves
Go Digit General Insurance, supported by major investors including Canada’s Fairfax Group, is preparing to launch its initial public offering (IPO) on May 15.
Off Course Consulting and Global Leader Group Form Strategic Partnership to Drive Insurance Innovation
Off Course Consulting, a leading strategy consulting firm with expertise in the insurtech and insurance industry across the US and Europe, has announced a strategic partnership with Global Leader Group, a renowned professional development and management consultancy firm operating in the US and UK.
CoverTree Raises US$13 Million in Series A Funding to Transform Manufactured Home Insurance
Led by Portage with participation from AV8, Distributed Ventures, and Detroit Venture Partners, CoverTree launches an enterprise suite to provide homeowners with leading quality insurance coverage.
reThought Flood Joins AAIS Partner Program to Enhance US Flood Insurance Coverage
The American Association of Insurance Services (AAIS), a leading organisation in the insurance industry, has announced its partnership with reThought Flood as part of the AAIS Partner Program.
Munich Re’s Insurance Revenue Rises to US$16 Billion in Q1 2024
Munich Re has reported an increase in insurance revenue to US$16 billion for the first quarter of 2024, attributed to organic growth in its reinsurance business and ERGO International.
EMPOWERING INSURANCE: Joan Low, Founder and CEO of Temasek-Backed Mental Healthtech, ThoughtFull
Embarking on a transformative journey fuelled by personal experience and a passion for change, Joan Low’s path from banking to the forefront of mental health innovation is nothing short of inspiring.
Unum Group Launches Unum Pet Insurance
Unum Group has introduced Unum Pet Insurance as part of its portfolio. The new offering provides plans that offer coverage to help employees keep their pets healthy.
WTW Expands Global Cyber Facility with Increased Capacity and Broader Coverage
WTW has announced strategic enhancements to its global cyber facility, which provides excess cyber insurance coverage worldwide.
Foxquilt and London Underwriters Announce Strategic Partnership
London Underwriters, a prominent national insurance wholesale broker, and Foxquilt, a leader in digital insurance solutions for small businesses and individuals, have entered into a strategic partnership.
London-Based Insurtech Eleos Secures US$4 Million Seed Investment to Expand to the US
London-based insurtech company Eleos has raised US$4 million in a seed funding round to support its planned expansion into the United States.
Israeli Insurtech Company Honeycomb Raises US$36 Million in Series B Funding
Israeli insurtech company Honeycomb has secured US$36 million in a Series B funding round, the company has announced.
Arbol Raises US$60 Million to Expand Climate Risk Solutions and Insurance Portfolio
Arbol, a climate risk solutions provider with a global footprint across more than 15 countries, has announced the successful closure of a $60 million Series B funding round.
Dubai’s US$850 Million Flood Losses Spur Urgent Call for Major Changes
As dramatic footage of Dubai’s storms unfolded earlier this month, it was clear that this was no ordinary weather event.
AEGIS London and Kayna Collaborate to Enhance Online Quote and Bind Platform
AEGIS London has announced a partnership with InsurTech firm Kayna to enhance its online quote and bind platform, Opal Underwriting.
CLARA Analytics and Origami Risk Form Partnership to Accelerate AI Adoption
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.
Wakam Expands to UK Market With FCA and PRA Approvals
French insurtech Wakam, a leading white label, digital B2B2C insurer, has gained approval from the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to establish its new subsidiary, Wakam UK Limited.
Progressive Insurance to Hire Over 10,000 for Roles Across the US in 2024
Progressive Insurance announced plans to recruit thousands of job seekers nationwide in 2024 to support its sustained year-over-year growth.
Urban Jungle to Announce US$14 Million Funding Round
London-based insurance startup Urban Jungle is set to announce a new funding round of approximately $14 million this week, according to a Sky News report.
Amboss Underwriting Takes Over Oilfield Insurance Agencies’ Downstream Portfolio
Zurich-based Lloyd’s coverholder Amboss Underwriting (Amboss) has assumed the downstream portfolio of Oilfield Insurance Agencies’ Zurich branch.
Loadsure Expands Operations into Europe
Loadsure, an innovative insurtech MGA and Lloyd’s coverholder, has announced its launch in Europe.
Open Launches Next-Generation Travel Insurance
Open, a global embedded insurance partner, has unveiled a new travel insurance offering designed to cater to the diverse needs of individual travelers and travel providers.
WTW and Riskonnect Partner to Launch on Analytical Tool for Enhanced Risk Management
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.
MixCare Health and Pacific Prime Partner to Transform Health and Wellness Benefits in Hong Kong
MixCare Health, a rising Hong Kong insurtech company, has formed a partnership with international health insurance broker and employee benefits specialist Pacific Prime to transform the delivery of health and wellness benefits for employers in Hong Kong.
CatX Partners with CyberCube to Boost Cyber Capabilities
CatX, a digital marketplace that connects (re)insurers and brokers with alternative capital, has announced a strategic partnership with CyberCube to enhance its cyber capabilities.
Axle Asia Rebrands as PT bolttech in Indonesia
Axle Asia, a prominent insurance broker in Indonesia, has officially changed its name to PT Bolttech Insurance Broker following bolttech’s acquisition of the majority shareholding in Axle Asia in late 2022.
Google Cloud Drives Alphabet’s Soaring Stock
Google’s cloud computing division, Google Cloud, delivered an outstanding fiscal quarter, surpassing analysts’ expectations and propelling the stock of parent company Alphabet up by more than 13% in after-hours trading.
California Screaming: The Future of Insurance in the Golden State
Ten major insurers have now withdrawn services or announced their exit from California, leaving hundreds of thousands of customers without insurance options in the face of increasing threats from natural catastrophes. What does the future hold? Insurtech Insights finds out more.
FlashAid, a healthcare and insurtech startup, Secures $2.5 Million in Funding
FlashAid, a Mumbai-based healthcare and insurtech startup, announced it has raised $2.5 million in a pre-Series A funding round.
Aon Acquires NFP in Landmark Deal
Aon has completed the acquisition of middle market property and casualty broker NFP from Madison Dearborn Partners and HPS Investment Partners.
Marsh Launches Global Alternative Risk Solutions Practice
Marsh has introduced the Global Alternative Risk Solutions practice, aiming to blend the company’s expertise in parametric solutions, alternative risk transfer, captives, and complex risk.
Coalition Finds Over Half of Cyber Insurance Claims Originate in Email Inboxes
Coalition, the world’s first Active Insurance provider focused on preventing digital risks before they occur, has released its 2024 Cyber Claims Report.
65% of North American Business Leaders Fear Election Year May Impact International Trade
As the 2024 election season unfolds, 65% of North American business leaders are concerned that political risks may negatively affect their ability to trade internationally.
Allstate May Resume Writing Homeowners Policies in California Amid Insurance Crisis
Allstate Insurance may soon start offering new homeowners policies in California again, provided the state Department of Insurance allows the use of catastrophic modeling when requesting rate increases.
MAPFRE’s Net Income Rises Nearly 70% to US$231 Million
MAPFRE RE, the reinsurance division of the Madrid-based insurer MAPFRE, saw its net income rise nearly 70% to €216 Million – and also reported a 7% increase in premiums during the first quarter of 2024, amounting to nearly $2.4 billion.
PCF Insurance Services Secures US$400 Million in Additional Financing
PCF Insurance Services, a top 20 U.S. insurance brokerage, has secured US$400 million in additional debt financing.
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