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West Bend Insurance Expands Partnership with ZestyAI
West Bend Insurance Company has announced an expansion of its partnership with ZestyAI, a leading provider of climate and property risk analytics powered by artificial intelligence (AI).
Centivo Raises US$75 Million to Transform Employee Healthcare
Centivo, a leading healthcare company dedicated to making high-quality healthcare more affordable, has announced the successful completion of a $75 million financing round.
Envelop Risk Launches ‘Envelop Risk Solutions’ to Serve Businesses
Envelop Risk, a leading UK-based global specialty cyber reinsurance MGA with offices in Bristol, London, Bermuda and San Francisco, has announced the launch of a new services business, Envelop Risk Solutions.
Xceedance Acquires Millennium Information Services
Xceedance, a global insurance consulting, technology, and managed services provider, has announced the acquisition of Millennium Information Services, a leader in property inspection and data analytics.
Flywire Acquires Invoiced to Expand B2B Payments Capabilities
Flywire Corporation, a leading global payments enablement and software company, has announced the acquisition of Invoiced, a SaaS platform specialising in automating the Accounts Receivable (A/R) process for mid-market businesses.
SURE and SageSure Launch New Commercial Product
SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned reciprocal exchange, has partnered with SageSure, a leading managing general underwriter focused on catastrophe-exposed markets, to unveil its first non-admitted business owners policy (BOP) in California.
Howden Launches Resilience Laboratory to Combat Climate Risks
Global insurance broker Howden has launched a new platform designed to assist clients in evaluating and addressing climate-related challenges.
Relation Insurance Services Acquires Whitney Oaks Insurance Services, Inc.
Relation Insurance Services has announced the acquisition of Whitney Oaks Insurance Services, Inc., effective August 30, 2024. The terms of the transaction were not disclosed.
Oklahoma Latest State to Lose Home Insurance as Farmers Drops Over 1,000 Policies
Farmers Insurance is declining to renew over 1,000 home policies in Oklahoma, officials say.
RWS Expands Collaboration with AWS
RWS, a global leader in technology-driven language, content, and intellectual property solutions, has announced a multi-year Strategic Collaboration Agreement with Amazon Web Services (AWS) to launch new solutions powered by generative AI.
McGill and Partners Expands into Nordic Market
McGill and Partners, a leading independent global specialty insurance and reinsurance broker, has announced its expansion into the Nordic region with the opening of a new branch office in Sweden, pending regulatory approvals.
arqu Raises US$10 Million in Series A Round
arqu, a tech-enabled wholesale insurance brokerage based in San Francisco, has raised US$10 million in a Series A round led by Crosslink Capital with participation from Intact Ventures.
Quantee Partners with Seguros del Estado
Quantee, a leading InsurTech company, has announced a new partnership with Colombian insurer Seguros del Estado.
BOXX Insurance Expands Leadership Team with New USA and Latin America Presidents
BOXX Insurance, a global leader in cyber insurtech, has announced two key leadership appointments as part of its strategic expansion across the Americas.
Kyber Launches AI Platform to Automate Claims Notices
Kyber, a Y-Combinator-backed AI startup, has unveiled a groundbreaking platform designed to automate the claims notification process for insurance teams.
Cachet Partners with TaskRabbit to Launch Gig Economy Solution Underwritten by Hiscox
Cachet, a company specialising in insurance products for platforms and micromobility, has announced a new partnership with TaskRabbit to provide enhanced insurance options for freelancers.
kWh Analytics Partners with U.S. Department of Energy
kWh Analytics, a provider of climate insurance for renewable energy assets, has announced a $2.4 million partnership with the U.S. Department of Energy’s Solar Energy Technologies Office (SETO).
Inszone Insurance Expands with Catalyst Benefits Acquisition
Inszone Insurance Services, a leading provider of commercial, personal, and benefits insurance, has announced the acquisition of Catalyst Benefits Group, LLC, an employee benefits brokerage based in Tulsa, Oklahoma.
Madrid-based Insurtech Tuio Raises $16.7 Million
Madrid-based insurance startup, Tuio, has successfully raised $16.7 million in a combination of equity and debt.
Ocean State Credit Union Partners with Insuritas
Ocean State Credit Union has announced a new partnership with Insuritas to launch a full-service, embedded digital insurance agency.
Caroline Feeney Appointed Chair of LL Global
Caroline Feeney, Executive Vice President and CEO of Prudential’s U.S. Businesses, has been named the 2025 Board Chair of LL Global, the parent organisation of financial services industry groups LIMRA (Life Insurance Marketing and Research Association) and LOMA (Life Office Management Association).
HEMIC Declares $5 Million Dividend for Policyholders
Hawaii Employers’ Mutual Insurance Company, Inc. (HEMIC) has announced a $5 million dividend for its qualifying policyholders, marking the largest dividend issued in the company’s history.
American Family Insurance Group to Raise Minimum Wage
American Family Insurance Group has announced that it will raise its minimum wage to $25 per hour, effective January 1, 2025.
French Insurtech Alan Reaches €4 Billion Valuation
French digital health insurance startup Alan has reached a valuation of €4 billion following a €173 million ($193 million) funding round led by Belgian bank Belfius Bank SA.
EMPOWERING INSURANCE: From CERN to Swiss Re – Paloma Quiroga, Head Risk Consulting & Analytics, Swiss Re Reinsurance Solutions
From the cutting-edge research of CERN to steering risk solutions at Swiss Re, Paloma Quiroga Arias leverages her particle physics background to help transform the insurance industry. As Head of Risk Consulting & Analytics, Quiroga is driving data-driven decisions and innovation, reshaping how insurers understand and manage risk. Insurtech Insights finds out more.
EvolutionIQ Becomes CALI’s First Life Partner
EvolutionIQ, a global leader in claims guidance technology, has joined the Council of Australian Life Insurers (CALI) as its inaugural Life Partner, marking a significant step in CALI’s corporate partner program.
Koltin Secures US$7.3 Million Series A Funding
Koltin, a Mexican insurtech focused on providing private health insurance for seniors, has raised $7.3 million in a Series A funding round led by Left Lane Capital.
Marsh and Tokio Marine Kiln Launch Port Disruption Insurance Amid Global Shipping Turmoil
Insurance broker Marsh and Lloyd’s underwriter Tokio Marine Kiln (TMK) have introduced a new business interruption insurance product designed to protect ports against increasing trade disruption risks.
wefox Holding AG Appoints Joachim Müller as new CEO
wefox Holding AG has announced the appointment of Joachim Müller as its new CEO, effective immediately.
Functional Finance Raises US$20 million
Functional Finance, a software platform “revolutionising financial operations” for managing general agents, insurance companies, and wholesalers, announced the closing of a $20 million Series A funding round led by Walkabout Ventures, with participation from Munich Re Ventures and Phil Edmundson, the founder of Corvus Insurance.
Lloyd’s Names Sir Charles Roxburgh KCB as New Chair
Lloyd’s, the global leader in insurance and reinsurance, has announced the appointment of Sir Charles Roxburgh KCB as its next Chair, pending regulatory approval from the Prudential Regulation Authority and the Financial Conduct Authority.
Prudential Financial Launches Stop Loss Insurance
Prudential Financial, Inc. (NYSE: PRU) has introduced a new Stop Loss Insurance product aimed at helping companies with self-funded medical plans mitigate the financial risks of high-cost medical claims.
LWCC Partners with Akur8
Louisiana Workers’ Compensation Corporation (LWCC), the largest workers’ compensation carrier in Louisiana, has selected Akur8’s Core Platform solution to enhance its predictive modeling capabilities and strengthen underwriting insights.
Pivix Specialty Insurance Services Officially Launches, Led by Industry Veterans
Pivix Specialty Insurance Services, a new managing general agency (MGA) focused on the Excess and Surplus (E&S) lines market, has officially launched.
Pineapple Financial Launches Pineapple Insurance
Pineapple Financial, a Canadian mortgage company, has officially launched Pineapple Insurance, marking a significant expansion of its business.
AIG Appoints Keith Walsh as Executive Vice President and CFO
American International Group, Inc. (NYSE: AIG) has announced the appointment of Keith Walsh as Executive Vice President and Chief Financial Officer (CFO), effective October 21, 2024.
INSTANDA Partners with Swiss Re
INSTANDA, a global leader in SaaS platform technology for the insurance industry, has announced its integration with Swiss Re’s automated underwriting platform, Magnum.
Majesco Launches AI Ecosystem to Boost Insurance Solutions
Majesco, a leading provider of cloud-based insurance software, has announced the launch of its new AI ecosystem powered by Majesco Copilot.
Allianz Partners Launches New AI-Enhanced Claims Portal
Allianz Partners USA has introduced a redesigned Universal Claims Portal, aimed at simplifying the travel insurance claims process for customers.
Legal & General to Sell CALA Group for £1.35 Billion
Legal & General has announced the sale of its UK housebuilding subsidiary, CALA Group, to Ferguson Bidco Limited, a company owned by funds managed by Sixth Street Partners and Patron Capital.
Munich Re North America Life Launches Longevity Reinsurance Solution for US and Canada
Munich Re North America Life has launched a new longevity reinsurance solution tailored for the US and Canadian markets, offering clients the ability to accumulate assets while mitigating biometric risks.
Cowbell Expands Cyber Insurance Underwriting Capacity for Middle-Market Businesses
Cyber insurance startup Cowbell has announced an expansion of its underwriting capacity, enabling it to cover businesses with annual revenues of up to $1 billion.
Zywave Appoints Martin Simoncic as CEO and Chris Kasper as CFO
Zywave, a leading provider of SaaS InsurTech solutions, today announced the appointments of Martin Simoncic as Chief Executive Officer and Chris Kasper as Chief Financial Officer.
Healthee Announces Enhanced App Launch for Early 2025
Healthee, a leader in health benefits technology, has announced the launch of its enhanced app, set for early 2025.
Optalitix Partners with Go.Compare to Launch Innovative Pricing Solution
Insurtech firm Optalitix has announced a new partnership with Go.Compare, bringing its unique motor and home insurance pricing solution to insurers via the popular comparison site.
UK Insurance Fraud Surges as AI Tools Aid in Falsifying Claims
The use of AI to manipulate insurance claims is on the rise in the UK, with nearly one in four claims suspected of involving falsified data, according to new research by claims automation company Sprout.ai.
CarePay Raises €10M in Funding to Drive International Expansion
CarePay International, a leading innovator in next-generation health insurance platforms based in Amsterdam, has raised €10 million in fresh funding from Reinsurance Group of America (RGA) and the Health Insurance Fund (HIF), a fund supported by the Ministry of Foreign Affairs of the Netherlands.
Seguros Lagun Aro Partners with Akur8 to Revolutionise Insurance Pricing Process
Seguros Lagun Aro, a prominent player in the Spanish insurance market, has announced a strategic partnership with Akur8, a cutting-edge insurance pricing and reserving platform powered by Transparent AI. The collaboration aims to streamline Seguros Lagun Aro’s pricing processes for its Property and Casualty (P&C) offerings, enhancing both efficiency and pricing accuracy.
Roots Automation Raises $22.2 Million to Harness Unstructured Data in Insurance with AI
Roots Automation, an AI-driven solutions provider for the insurance industry, has secured $22.2 million in a Series B funding round led by Harbert Growth Partners, with participation from MissionOG, Liberty Mutual Strategic Ventures, and Vestigo Ventures.
Insurity Named to IDC FinTech Rankings Top 50 for 2024
Insurity, a leading provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has been named to the 2024 IDC FinTech Rankings Top 50.
Parsyl Rebrands to Reflect Expansion and Future Vision
Parsyl, a leading innovator in supply chain risk management and insurance, has announced a major rebrand to align with its evolving business model and ambitious growth plans.
PCF Insurance Services Acquires Top Insurance Associates
PCF Insurance Services, a leading U.S. insurance brokerage, announced today the acquisition of the insurance business of Top Insurance Associates, an all-lines insurance agency based in Snohomish, Washington.
IS2 Launches API-Enabled Hosted Pricing Solution
IS2, a leading provider of digital distribution platform (DDP) solutions, has unveiled its new API-enabled hosted pricing solution, designed to transform distribution for commercial insurers and Managing General Agents (MGAs).
Nayya Secures Investment from Workday Ventures to Boost Employee Benefits Platform
Nayya, a leading platform that simplifies employee benefits selection and management, has announced a new investment from Workday Ventures.
Cyber Insurance Firm FifthWall Solutions Secures $5 Million in Series A Funding
FifthWall Solutions, a Pennsylvania-based cyber insurance wholesaler, has successfully raised $5 million in Series A funding to fuel its growth.
Swiss Re Expands GenAI Partnership with mea Platform for Global Operations
Swiss Re has selected mea platform’s Generative AI (GenAI) solution for its global reinsurance and insurance operations, marking a significant expansion in the companies’ partnership.
Kristof De Bremme Appointed CEO of Marsh McLennan for Belgium and Luxembourg
Marsh McLennan, the global leader in professional services across risk, strategy, and people, has named Kristof De Bremme as CEO of Marsh McLennan for Belgium and Luxembourg, as well as President of Marsh in the region. He succeeds Rebecca Tielemans in the role.
Combatting Kimsuky: How Insurtech is Battling North Korea’s Growing Cyber Espionage
Tyler Boire, Senior Intelligence Analyst at Resilience, speaks with Insurtech Insights about his team’s efforts to combat the notorious North Korean hacker group, Kimsuky.
Everest Launches Operations in Colombia, Expanding Latin American Footprint
Everest has officially announced the launch of its local entity, Everest Compañía de Seguros Generales Colombia S.A., following regulatory approval from the Superintendencia Financiera de Colombia.
Howden Expands Australian Presence with Acquisition of Collegial Insurance Services
British insurance intermediary Howden has further expanded its presence in Australia by acquiring Collegial Insurance Services, a Sydney-based general insurance broker.
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