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Curative Insurance Boosts Member Benefits with GRAIL’s Galleri Test
Curative Insurance Company has expanded its array of member benefits by incorporating GRAIL’s Galleri test, a sophisticated multi-cancer early detection screening tool.
12 Top Investment Rounds: Insurtech Funding off to a Flying Start in 2024
Insurtech investment has seen a lot of challenges over the past 12 months, but January 2024 has seen some impressive raises from seed to series B. Insurtech Insights reports.
APOLLO Insurance Launches Rent Credit Reporting, Powered by Zenbase
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.
Chubb Expands North American Personal E&S Business, CEO Greenberg Expresses Caution
Chubb has experienced an uptick in its North American personal Excess and Surplus lines (E&S) business, but the company’s CEO, Evan G. Greenberg remains cautious about the trend.
Wisedocs Raises $9.5 Million in Series A Funding to Expand AI-driven Insurtech Solutions
Insurtech Wisedocs has announced the successful conclusion of its Series A Funding Round, raising US$9.5 million.
SCOR Launches Offshore Renewable Energy Consortium, Boosts Capacity to US$180 Million
SCOR has announced the establishment of an offshore renewable energy consortium, expanding its deployable capacity to over US$180 million.
Guy Carpenter Launches New Cyber Product to Manage Risk Volatility
Risk and reinsurance specialist Guy Carpenter has unveiled its latest innovation in the form of a new cyber reinsurance product, called CatStop+.
Pete Chandler steps down as CEO of BMS RE, Assuming the role of Vice-Chair
BMS Re, the specialty reinsurance division of global broker BMS Group, has announced the appointment of Andrew Wheeler and Russ McGuire as interim co-Chief Executive Officers of BMS Re as CEO, Pete Chandler steps down.
TCS and Aviva Forge 15-Year Pact to Revolutionise UK Life Business
Tata Consultancy Services (TCS) has recently announced a significant expansion of its strategic partnership with Aviva.
Indemn Raises US$1.9 Million in Funding to Propel AI-Powered Insurance Platform
AI-powered insurtech Indemn has closed a US$1.9 million pre-seed funding round – a milestone that highlights that Indemn’s commitment to revolutionising how people engage with and purchase insurance coverage through the integration of AI.
Planck Acknowledged by Gartner for Innovation in Insurtech Gen AI
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 Ltd. Reports Impressive Fourth-Quarter Results Driven by Property/Casualty and Life Insurance
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.
LEADERSHIP SPOTLIGHT: CEO, Daniel Schreiber on Life and Lemonade
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 Launches Miscellaneous Professional Liability Insurance Coverage
Coalition has announced the launch of its Miscellaneous Professional Liability (MPL) Insurance.
BOXX Insurance Partners with AXA to Launch Cyber Risk Prevention Solution for Small Businesses
Cyber insurtech firm BOXX Insurance has partnered with AXA to unveil a pioneering cyber risk mitigation solution tailored for small businesses.
Zurich Insurance’s US$20 Billion Sale of German Life Insurance Portfolio Stalls as Viridium Holding Withdraws
Zurich Insurance Group has announced that Viridium Group won’t buy its life legacy business in Germany as planned.
Progressive Rebrands Protective Insurance to Progressive Fleet & Specialty Programs
Progressive has rebranded its Protective Insurance – its large fleet commercial line coverage – to Progressive Fleet & Specialty Programs.
WTW Introduces Cyber Insurance for SMEs to Safeguard Against Online Threats
WTW has unveiled a specialised cyber insurance offering tailored for businesses with annual revenues under US$50 million.
Resilience Expands Cyber Risk Management Solution to Global Clients of US$10 Billion in Revenue
Resilience has expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues.
Capgemini Drives Efficiency Overhaul for Auto Club Group via Google Cloud
Capgemini has announced a significant milestone in its partnership with the Auto Club Group (ACG), unveiling the successful migration of ACG’s core insurance processing applications to Google Cloud.
Insurity Launches AI-Powered Analytics, Transforming Decision-Making for P&C Carriers
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.
Arthur J. Gallagher & Co. Acquires Forest Insurance Facilities
Arthur J. Gallagher & Co. has announced the acquisition of Forest Insurance Facilities by its US wholesale brokerage, binding authority, and programmes division, Risk Placement Services, Inc. (RPS).
Lloyd’s Lab Announces US Theme Expansion for Cohort 12
Lloyd’s Lab has announced it will venture into the Americas for its 12th Cohort with a dedicated regional theme.
Former Allianz Executives Raise US$12.17 Million for Carbon Credit-Backed Insurance Venture
Switzerland-based startup CarbonPool, founded by former Allianz executives, has successfully concluded a significant funding round aimed at revolutionising the carbon credit market.
Howden Launches Carbon Capture and Storage Insurance Facility in Partnership with SCOR’s Lloyd’s Syndicate
Howden has introduced a pioneering insurance facility aimed at bolstering carbon capture and storage initiatives, with the backing of SCOR’s Lloyd’s syndicate.
The Hartford Announces Withdrawal from California Homeowners Market
In a significant development for California homeowners, The Hartford has disclosed its decision to cease writing new homeowners insurance policies in the state effective February 1, 2024.
AVLA Raises US$25 Million in Funding to Drive International Expansion
AVLA, a leading provider of surety and trade credit solutions, has successfully raised $25 million in funding from prominent investors, including Creation Investments Capital Management, DEG Invest, and Altra Investments.
Pacific Life Re Unveils New Global Organisational Framework
Pacific Life Re has announced a strategic overhaul of its organisational structure aimed at bolstering client support and propelling its growth agenda forward.
Google Cloud and Hugging Face Forge Alliance to Advance Generative AI and ML Development
In a move set to redefine the landscape of generative AI and machine learning (ML) development, Google Cloud and Hugging Face have unveiled a strategic partnership aimed at empowering developers worldwide.
MIC Global Secures $6 Million in Seed Funding Round
MIC Global, a leading microinsurance provider, has announced the successful closure of a US$6 million seed funding round, signalling a significant milestone in its growth trajectory.
Porch Group Secures US$25 Million in Strategic Partnership Deal with Aon
Porch Group, the parent company overseeing insurer/MGA Homeowners of America, has announced a landmark “strategic business collaboration agreement” with Aon and Aon Re, marking a significant development in the insurance landscape.
Zurich North America Announces Leadership Shifts in Crop and Direct Markets Divisions
Zurich North America has announced significant changes in its Direct Markets and Crop sectors.
NFP and National Hockey League (NHL) Forge Multi-Year Partnership
NFP and the National Hockey League (NHL) have announced a new multi year partnership spanning North America. Under the agreement, NFP assumes the role of the official business insurance brokerage partner of the NHL.
LEADERSHIP SPOTLIGHT: Gil Arazi, Founder & Managing Partner of FinTLV on Navigating the World of Insurance and Venture Capital
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.
Capella Space Partners with Floodbase to Boost Parametric Flood Insurance
Capella Space Corp., a prominent American space technology company specialising in satellite solutions, has entered into a strategic partnership with Floodbase, a leading data provider and reporting agent for parametric flood insurance.
Marsh McLennan Releases Impressive Full-Year Financial Results
Marsh McLennan has unveiled its financial performance for the fourth quarter (Q4) and the entire fiscal year concluding on December 31, 2023 (FY23), revealing robust figures.
Munich-based Allianz Direct Announces Acquisition of French Insurtech Luko’s Home Insurance Business
Allianz Direct, the European direct business arm of global insurance giant Allianz, has successfully acquired the home insurance business of online insurer Luko.
Novidea Global Report: 75% of Insurance Organisations will Replace Core Managment Platforms by 2025
Insurance industry finally ready for digital transformation with 75% of insurance organisations ready to swap core management platforms by 2025 – Novidea global report reveals
NFP Acquires Advanced Insurance Consultants Limited
International broking and consulting firm, NFP, has announced the acquisition of Advanced Insurance Consultants Limited (AIC).
Manulife Announces Partnership with Aeroplan to Enhance Member Benefits
Manulife has entered into a new multi-year partnership with Aeroplan, the loyalty programme under the ownership of Air Canada.
Amazon to Close its UK Insurance Store After 15 Months of Operation
Amazon has made the decision to shut down its UK Insurance Store a mere 15 months after its launch in October 2022.
Cover Genius Partners with Vueling to Provide Embedded Insurance Solutions
Cover Genius has joined forces with Vueling, Spain’s premier low-cost airline, in an exclusive travel protection collaboration to provide embedded solutions via its global distribution platform, XCover.
AgentSync Launches Cutting-Edge On-Boarding API
AgentSync has launched the ProducerSync API, the inaugural offering in its commercial API suite, aimed at streamlining insurance producer onboarding and compliance procedures.
Insurtech Ansel Raises US$20 Million to Expand Access to Simplified Supplemental Insurance
Ansel, formerly known as Brella, is making strides in transforming the supplemental insurance landscape by securing a US$20 million funding round led by Portage.
Alex Astengo Takes Helm at Root to Spearhead UK Expansion
Root Platform (Root), the end-to-end insurance technology platform known for its low-code and API-first approach, welcomes Alex Astengo as the UK Country Manager, based in London.
Spotr Raises €4.5 Million Funding for World’s Largest Image-Driven Property Database
Spotr, an innovative Dutch AI-powered property data platform, has successfully secured €4.5 million in funding.
Akur8 Chosen by MAPFRE to Enhance Insurance Pricing Capabilities
Spanish insurer MAPFRE has selected Akur8, a groundbreaking insurance pricing solution driven by transparent machine learning, to strengthen its pricing capabilities.
Revitalisation Efforts Underway for NZIA as Remaining Members Seek Renewal
In the aftermath of a series of departures last year, the remaining members of the Net-Zero Insurance Alliance (NZIA) are reportedly contemplating the reconstruction of the group, with discussions suggesting the inclusion of brokers and regulators in a potential new iteration.
Chubb Bermuda Elevates Richard Porter to Executive Vice President, Head of Liability Lines
Chubb Bermuda has consolidated its Financial Lines and Excess Liability product lines, appointing Richard Porter to the pivotal role of Executive Vice President, Head of Liability Lines.
Newgen Software Launches Cloud Content Management Accelerator on Guidewire Marketplace
Newgen Software has officially launched its state-of-the-art, Guidewire Cloud-validated accelerators on the highly regarded Guidewire Marketplace.
Xceedance Partners with Underwriting Agencies Council (UAC)
Xceedance has entered into a transformative partnership with the Underwriting Agencies Council (UAC).
How Brokers Can Step Up to Combat Cyber Risk
Simon Hughes, VP and General Manager at Cowbell discusses mitigating risk at the broker level through a four-stage framework
Toolbox By Admiral Rebrands to Admiral Business
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 Integrates MSP Navigator into Duck Creek Content Exchange for enhanced Section 111 Reporting
Verisk has expanded its collaboration with Duck Creek by incorporating MSP Navigator into Duck Creek’s Content Exchange based in Boston.
HUB Launches New Property Practice to Boost Client Benefits in North America
Global insurance brokerage giant HUB has officially introduced the HUB Property Practice. The initiative is designed to offer comprehensive solutions to the evolving challenges faced by clients in North America.
LEADERSHIP SPOTLIGHT: Sabine VanderLinden Talks Technology, Startups and Trends for 2024
Affectionately known as ‘The InsurTech Queen’, Sabine VanderLinden is a pioneer in the startup space. Insurtech Insights unravels her story.
Ann Chai Assumes Role of Chief Risk Officer at Zurich North America
Zurich North America has announced the appointment of Ann Chai as Chief Risk Officer, effective January 16, succeeding Colleen Zitt, who has transitioned to the role of Vice President of End-to-End Process Controls within Zurich North America’s Finance team.
Keystone Agency Partners Secures Additional US$330 Million in Financing, Surpassing US$1 Billion in Total Raised Capital
Keystone Agency Partners (KAP), the insurance brokerage platform, has successfully amended and upsized its existing debt facility, securing an additional $330 million in financing.
OnStar Insurance Rebrands to General Motors Insurance Following Strategic Shift
GM Financial has announced the rebranding of its OnStar Insurance brand to General Motors Insurance. The decision follows a shift in strategy from an agency model to a full-stack carrier, with the insurance unit now being wholly owned by GM Financial.
Erie Insurance’s Venture Capital Arm Announces Three Strategic Investments Amidst Robust Financial Standing
Erie Strategic Ventures, the venture capital arm of Fortune 500 insurance giant Erie Insurance (ERIE), has revealed strategic investments in three cutting-edge companies: Wagmo, Roots Automation, and Trust & Will.
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