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Lockton Introduces NA Construction Casualty Business; Appoints Oliver Ross as SVP
Lockton, the independent insurance broker, has revealed the appointment of Oliver Ross as Senior Vice President within the Global Construction team, effective immediately.
Kin Reports Strong Financial Performance in FY23 Results
Kin, the direct-to-consumer home insurance company, has unveiled robust financial results for the full year 2023, showcasing significant growth across key metrics.
Matthew Shaw Appointed as CEO of Tokio Marine Kiln, Succeeding Brad Irick
Specialty insurer Tokio Marine Kiln (TMK) has announced the appointment of Matthew Shaw as its new chief executive officer (CEO), effective April 1st, pending regulatory approval.
QBE Reports Surge in Annual Profit as Results Double to US$1.36 Billion
QBE has announced its impressive financial results for the full year 2023, revealing a substantial increase in its statutory net profit after tax to US$1.36 billion, compared with $587 million recorded in 2022.
KYND Secures Substantial Investment from Verisk to Advance Cyber Risk Management
KYND, a leading provider of cyber risk management solutions, has announced a significant investment from Verisk, aimed at driving its expansion and growth trajectory.
Swiss Re Posts Strong Financial Results for 2023
Swiss Re, one of the world’s leading reinsurance companies, has reported impressive financial results for the fiscal year 2023.
Capitola Partners with Ategrity Speciality Insurance to Boost Customised solutions
In a move set to invigorate retail agents across the sector, a strategic partnership has been forged between Capitola and Ategrity Specialty Insurance Company.
Sure Launches Anywhere Insurance to Transform Insurance Industry
Sure, a prominent player in insurance technology renowned for its digital innovation, has introduced Anywhere Insurance, signaling a pivotal shift in the insurance landscape.
Casey Kempton Begins New Role as Leader of Nationwide’s Personal Lines Business
Casey Kempton has begun a new role as head of Nationwide’s personal lines property business.
Nationwide Boosts Life Underwriting Process with DigitalOwl’s AI Technology
Nationwide has forged a partnership with DigitalOwl to leverage its cutting-edge platform, which transforms the analysis of medical data for a streamlined and accurate underwriting process.
Lemonade’s AI Partner, Rasa, Raises US$30 Million in Series C Funding
Rasa, a leading conversational AI platform, has successfully raised $30 million in a Series C funding round. The investment round was co-led by StepStone Group and PayPal Ventures, with notable participation from Andreessen Horowitz, Accel, and Basis Set Ventures.
EMPOWERING INSURANCE: Sayata’s CCO, Upasana Unni, Talks Leading an Insurtech Through Turbulent Times
As the Chief Commercial Officer at Sayata, Upasana Unni oversees the supply side of the two-sided marketplace. Initially focused on cyber insurance, Sayata has since broadened its offerings to include other lines for small and medium businesses.
Insurtech Cake Raises US$1.3M in Pre-seed Funding
Cake, a transactional marketplace tailored for independent insurance agents, has closed a pre-seed funding round, raising $1.3 million.
Marsh Expands D&O Echo Facility, Offering Clients Up to US$75 Million in Enhanced Insurance Protection
Marsh has announced the expansion of its directors & officers (D&O) Echo facility, offering clients up to US$75 million in D&O insurance capacity.
MAPFRE Re’s Premiums Surge by 8.8% to €7.9 Billion in 2023
MAPFRE Re, the reinsurance division of Madrid-based insurer MAPFRE, has revealed a notable uptick in premiums for the fiscal year 2023, reaching €7.9 billion, representing an increase of 8.8%.
Swiss Re’s Fathom and The World Bank Partner to Bolster Flood Resilience in 16 Nations
Fathom, a UK-based provider of water risk intelligence and flood models recently acquired by Swiss Re, has entered into a strategic partnership with The World Bank.
Admiral Partners with Google Cloud to Transform Customer Experiences
Admiral has forged a strategic alliance with Google Cloud to revolutionise customer experiences.
10 Insurance Industry Predictions for 2024
The insurance industry continues to be in flux, undergoing several seismic shifts simultaneously. Now that we are officially in the new year, we can see these changes and accelerations in various ways. Read on for ten predictions for our industry in 2024.
Wipro Acquires 60% Stake in US Insurtech Aggne Global in US$66 Million Deal
Wipro, a leading global IT firm based in Bengaluru, India, has acquired a majority stake in US-based Aggne Global, a prominent consulting and managed services firm specialising in insurtech.
Marsh Launches Latest Phase of Digital Trading Solution for London Market
Marsh has launched the latest phase in the deployment of its digital trading initiative within the London insurance market.
Former Generali Vitality CEO joins The CareVoice as New CCO
The CareVoice and its board of Directors have announced the appointment of former Generali Vitality CEO, Simon Guest as Chief Commercial Officer and member of its Leadership team.
Optalitix Announces Partnership with Quantee to Provide Next-Gen Underwriting and Pricing
Insurtech company Optalitix has unveiled its latest collaboration with Quantee, a dynamic insurance pricing platform aimed at enhancing the granularity and precision of pricing models.
Former Hiscox Executive Jodi Cartwright Joins Fintech Tint Financial to Develop SME Insurance Solution
London-based Tint Financial Services, a cross-border fintech firm focused on simplifying trade for SMEs and supply chains, has appointed Jodi Cartwright as Chief Commercial Officer.
Insurtech Startup Buddy Raises US$7.2 Million
Insurtech startup Buddy has raised US$7 million from 49 investors, bringing its funding total to $8 million
HDI Embedded Partners with Wind Tre and wefox
The embedded insurance provider, part of HDI International, will enable greater coverage and extended warranty solutions for customers of Italian mobile operator Wind Tre
LEADERSHIP SPOTLIGHT: Kobi Bendelak, CEO and Founder of InsurTech Israel
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.
Revolutionising Insurance Through Technological 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.
Bupa Launches US$20 Million VC Fund to Support Australian Healthcare Startups
Bupa has announced the establishment of a US$20 million venture capital fund, known as Bupa Ventures, aimed at backing Australian healthcare startups.
Sun Life US has Announced a New Partnership with Somatus
Sun Life US has announced a strategic partnership with Somatus aimed at bolstering access to care and addressing rising healthcare costs.
LDC Invests Undisclosed Sum in UK Insurtech Uinsure
Lloyds Development Capital Limited (LDC), a mid-market private equity house and subsidiary of Lloyds Banking Group, has thrown its investment weight behind Uinsure – a cloud-based insurtech that connects financial intermediaries and lenders with a panel of the UK’s insurers.
Verisk Introduces Generative AI Tool to Expedite Insurance Claim Processing
Verisk has launched its automated generative artificial intelligence (generative AI) record summary feature within Discovery Navigator.
MediConCen Raises US$6.85 Million in Series A Funding for Global Expansion
MediConCen, an InsurTech company specializing in AI and blockchain-driven insurance claims automation, has secured $6.85 million in its latest Series A funding round.
Zurich Insurance Group’s Bid for 70% Stake in Kotak’s Insurance Arm Gets Green Light
Zurich Insurance Group, a prominent Switzerland-based insurer, has received approval from Indian competition regulators for its acquisition of a 70% stake in Kotak Mahindra General Insurance Company (KMGIC).
CoverForce Announces Partnership with Great American Insurance Group
CoverForce Inc, a startup based in New York that specialises in offering an API for quoting and binding commercial insurance, has announced a new partnership with Great American Insurance Group
Ignite Specialty Risk Launches Litigation Capital Protection Insurance in the US
Ignite Specialty Risk, a prominent provider of litigation risk insurance, has officially introduced its Litigation Capital Protection Insurance offering in the United States.
Lloyd’s Invests in Axio and REOR20 to Boost Innovation in Insurance Solutions
Lloyd’s has announced its support for two promising ventures, Axio and REOR20. The investments mark the inaugural deployments from Lloyd’s Central Fund private markets allocation, highlighting the institution’s commitment to nurturing emerging technologies and solutions in the insurance sector.
Carlos Gomez Appointed as GC&C Head of Insurance
Generali Global Corporate & Commercial (GC&C), a subsidiary of the renowned Italian insurance conglomerate, has recently named Carlos Gomez as its new Head of Insurance, effective January 30, 2024.
Talanx Group Anticipates Record Net Income of €1.58 Billion for 2023
Talanx Group, the parent company of Hannover Re, is poised to achieve a record net income of €1.58 billion for the financial year 2023, according to its consolidated unaudited figures.
Xceedance Launches MGA Agility Suite Led by Industry Veteran Michael Parcelli
Xceedance has launched its MGA Agility Suite aimed at bolstering digital capabilities for programme administrators across the Americas.
Shepherd Raises US$13.5 Million in Series A, Launches Shepherd Compliance AI-Powered Software
Shepherd, a leading insurance technology platform catering to the commercial construction sector, announced today the successful closure of a $13.5 million Series A funding round.
bolttech Insurance Launches “Cancel for Any Reason” Travel Solution in Partnership with with FWD
bolttech Insurance, the general insurance arm of international insurtech bolttech based in Hong Kong, has launched MyTravel, a travel coverage plan catering to customers, their families, pets, and belongings.
Marsh Appoints Lorraine Stack as Risk Management Leader for Europe
Marsh has announced the appointment of Lorraine Stack as the new risk management leader for Europe.
Ensurise Announces Merger with Risk Cooperative
Ensurise, LLC, a leading independent insurance brokerage, has announced a merger with Risk Cooperative.
Lloyd’s Partners with Sherbro Alliance Partners to Boost Economic Resilience on Sherbro Island
Lloyd’s has entered into a partnership with Sherbro Alliance Partners (SAP) in a bid to bolster economic resilience and foster growth opportunities on Sherbro Island, Sierra Leone.
Oxbow Partners and Kita Reveal New Report on Carbon Credits in the Insurance Market
Oxbow Partners and Kita have jointly launched a significant report titled “Gross Written Carbon: Is Carbon Credit the Next Billion-Dollar Insurance Market?”
Nacional Re Partners with ACORD Solutions Group to Enhance Data Exchange Efficiency
Spanish reinsurer Nacional Re has announced its collaboration with ACORD Solutions Group’s ADEPT for Global Reinsurance and Large Commercial (GRLC) to streamline the digitisation and exchange of accounting and claims data within the insurance industry.
Boont Partners with Insly to Introduce Insurtech Innovation in Central and Eastern Europe
The Croatian startup MGA (Managing General Agent) Boont, has forged a partnership with Insly to implement insurance software for its backend operations.
Goboony and Swiss Re’s iptiQ Launch Tailored Insurance Solution for Motorhome Owners
Goboony, Europe’s premier camper sharing platform, has joined forces with iptiQ, a subsidiary of Swiss Re, to unveil a customised digital insurance solution catering to the unique requirements of motorhome owners.
Howden Group Holdings Reports 13% Organic Growth and £2.44 Billion Revenue
Howden Group Holdings has announced the financial results for the fiscal year ending September 30, 2023, reporting organic growth rate of 13% and achieved a remarkable 33% surge in revenue, reaching £2.44 billion.
London Insurtech Artificial Labs Raises US$10 Million in its Series A+ Round
London-based insurtech Artificial Labs has raised US$10 Million in it’s Series A+ round, following a $5.9 Million (£4 million) investment from Augmentum, Europe’s foremost publicly listed fintech fund.
RiverStone International Completes Acquisition of Catalina Insurance Ireland
RiverStone International has announced the completion of its acquisition of Irish insurance leader, Catalina Insurance Ireland
Kin Insurance Raises US$15 Million and Hits Unicorn Status
Kin Insurance has secured a significant investment of US$15 million from Activate Capital, a new investor in the company.
Hub International Acquires Morin Insurance Agency, Boosting Presence in Northern New England
Hub International Limited (Hub), has officially acquired the assets of Ronald (Ron) Morin, Jr., operating under Morin Insurance Agency. The specific terms of the transaction remain undisclosed.
WTW Launches Parametric Solution to Safeguard Coral Reefs in the South Pacific
WTW has launched a new parametric insurance policy designed to safeguard the coral reef system of the Lau Group of islands in the South Pacific.
Munich Re Launches Global Parametric NatCat Solutions Team to Boost Expert Collaboration
Munich Re has announced the formation of a new global parametric team focused on natural catastrophe risk transfer solutions.
EMPOWERING INSURANCE: Strategising Technology with Majesco’s Denise Garth
For decades, Denise Garth has blazed a trail for women in the technology and insurance space. Insurtech Insights caught up with her to find out more.
12 Acquisitions Already Driving Change in the Insurance Industry in 2024
There has been a flurry of activity in the acquisitions space in the first weeks of 2024. Insurtech Insights looks at the first month of mergers in a buyers market.
Aon’s Reinsurance Solutions Announces 14% Organic Revenue Growth in Q4 2023
Aon’s Reinsurance Solutions arm exhibited a robust performance, witnessing a remarkable organic revenue growth of 14%, totaling US$332 million in the fourth quarter of 2023.
Zurich Introduces Specialised D&O Coverage for Non-US Board Members of US Multinationals
Zurich American Insurance Company, a division of Zurich North America, has launched a dedicated directors and officers (D&O) insurance product aimed at safeguarding non-US board members and officers of US-based multinational corporations.
Brenda Austenfeld Named 2024 APIW Insurance Woman of the Year
APIW, Inc. (the Association of Professional Insurance Women) has announced that Brenda (Ballard) Austenfeld, CEO & President of RT National Property, has been awarded the 2024 APIW Insurance Woman of the Year Award.
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