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RenaissanceRe Successfully Concludes US$3.3 Billion Acquisition of Validus Re from AIG
RenaissanceRe, a Bermuda-based reinsurer, has finalised the acquisition of Validus Re, the treaty reinsurance operation of global insurer AIG.
Next Insurance Secures US$265 Million in Funding and Forms Strategic Alliances
Next Insurance has raised US$265 million in a strategic investment round, marking a significant milestone for the insurtech company.
Layr Raises US$10 Million Investment to Boost Services for Independent Commercial Brokers
Atlanta-based Insurtech firm Layr has successfully secured US$10 million in funding round led by Cota Capital.
wefox Unveils New Brand Claim: “wefox Empowering Insurance”
Berlin-based insurtech, wefox, is unveiling its latest brand claim: “wefox Empowering Insurance.” This new tagline signals the company’s distinctive role, emphasising that it goes beyond the conventional insurance realm.
Global Cyber Insurance Prices Decline for the First Time Since 2018: Marsh’s Q3 Report
Cyber insurance pricing has witnessed a 2% global decrease in the third quarter of 2023, marking the initial average downturn since the latter half of 2018, as reported by insurance broker and risk advisor Marsh, a subsidiary of Marsh McLennan.
Markel Bolsters Australian Leadership with Key Appointments
Markel, the insurance arm of Markel Group Inc., has reinforced its leadership team in Australia through the strategic hiring of industry veterans
Generali Allocates €250 Million to Fuel Venture Fund for Insurtech and Fintech Innovation
Generali has committed €250 million to its venture fund, Generali Ventures in a move to boost innovation in the insurtech and fintech sectors.
Generali Switzerland and HITS Collaborate with Swiss InsurTech Hub to Drive Innovation
Generali Switzerland and HITS – House of Insurtech Switzerland have joined forces with the Swiss InsurTech Hub.
Sprout.ai Secures US$6.5 Million Funding to Transform Claims Processing
Sprout.ai, a leading insurtech specialising in claims automation, has successfully raised US$6.5 million in a funding round, with notable participation from venture capital investors Amadeus Capital Partners and Praetura Ventures.
Blink Parametric Expands Global Reach through Strategic Agreement with MAWDY
Blink Parametric, a leading provider of parametric insurance solutions, has entered into a significant global agreement with MAWDY, a prominent insurance, reinsurance, and services company within the MAPFRE Group.
Former CFO of AIG, Shane Fitzsimons, Passes Away
Shane Fitzsimons, the former Chief Financial Officer (CFO) of American International Group (AIG), has tragically passed away after leaving the global insurer earlier this year due to a medical leave of absence
CSAA Enters New Partnership with WTW to Leverage Radar Software Suite
WTW has announced a strategic collaboration with CSAA Insurance Group, leveraging WTW’s cutting-edge Radar software.
Insurtech Previsico Launches Flood Forecasting in New York Following Record Flooding
Previsico has officially gone live in New York with its advanced flood forecasting technology, aiming to mitigate future losses following the recent record flooding that impacted major infrastructure, including LaGuardia Airport and John F. Kennedy Airport.
Claims Resolution Insurtech Nuvalaw Raises US$3 Million in Pre-Series A Round
LegalTech Nuvalaw, the claims resolution platform that facilitates the online negotiation and arbitration of P&C insurance claims, has raised US$3million in pre-series A financing.
AXA Future Risks Report 2023 Highlights Growing Concerns Over AI and Cybersecurity
In its 10th edition of the annual AXA Future Risks Report, global insurer AXA reveals a significant shift in perceived future risks, with artificial intelligence (AI) and data-related concerns entering the top 10 for the first time.
AXA XL Expands Ecosystem Access Across Multiple Insurance Lines
Global re/insurer AXA XL has announced the extension of Ecosystem access to clients within its Property & Casualty and Specialty insurance lines in North America.
LEADERSHIP SPOTLIGHT: Socotra’s CBO Ekine Akuiyibo, Talks AI, Insurance Penetration, and Emerging Markets
Insurtech Insights sits down with Socotra’s Chief Business Officer, Ekine Akuiybo to find out why technology will address California and Florida’s current problems, and how AI fits into the whole equation
Boundless Rider Raises US$4.24 Million in Round led by American Family Ventures
Massachusetts-based startup Boundless Rider has successfully raised US$4.25 million in a recent funding round, led by American Family Ventures.
Marsh McLennan Plans Delisting from London Stock Exchange
Marsh McLennan, the US-based parent company of broking giant Marsh, has expressed its intention to delist its UK listings on the Financial Conduct Authority (FCA) and the London Stock Exchange (LSE).
MAPFRE RE Appoints Miguel Ángel Rosa as CEO
MAPFRE has announced a series of strategic appointments as part of its efforts to streamline its organisational structure, and Miguel Ángel Rosa has been named the new Chief Executive Officer (CEO) of MAPFRE RE.
Hippo Holdings Announces 20% Workforce Reduction as Part of Strategic Overhaul
Home insurance giant Hippo Holdings has announced a substantial organisational realignment that necessitates a 20% workforce reduction.
Funding Round-Up: Top Insurtech Investment Events in October 2023
October has seen a raft of incredible funding events across all sectors. From pre-seed to B rounds, millions of dollars of capital are being invested in this dynamic and scaling space.
Lloyd’s Announces Four Vacancy Updates to its Council Membership
Lloyd’s, the premier global marketplace for insurance and reinsurance, has disclosed updates to its Council membership subsequent to recent elections aimed at filling four vacancies.
Aon Appoints Mona Barnes as Chief Claims Officer for Global Broking Centre & UK
Aon, the prominent insurance and reinsurance broking group, has recently named Mona Barnes as the Chief Claims Officer for the Global Broking Centre (GBC) & UK.
MAPFRE Reports 11% Revenue Growth in 2023
MAPFRE has reported an 11% growth in revenue and results during the first nine months of this year.
Agensync Raises US$50 Million in Series B Round
Agentsync has successfully raised US$50 million in its recent Series B funding round. Led by prominent investors, this substantial funding injection marks a pivotal moment in Agentsync’s journey to transform the insurance industry.
Unhackable Insurance: Matt Zagwoski of Beazley Talks Cyber Tech Vulnerabilities
The Consolidated Appropriations Act of 2023, introduced earlier this month impacts all insurers in the US offering the latest data collecting devices.
Insurtech Assureful Raises US$1.5 Million in Pre-Seed Round
UK-based insurance startup Assureful has successfully secured $1.5 million in a pre-seed funding round, with Markd leading the investment and Greenlight Re Innovations participating.
Guidewire and EvolutionIQ Forge Strategic Partnership to Transform Claims Processes
Guidewire has announced a new collaboration with EvolutionIQ as a new Solution partner on Guidewire PartnerConnect.
Upfort Secures US$8 Million in Series A Funding for Cybersecurity and Insurance Solutions
Upfort, a San Francisco-based cybersecurity and insurance provider, has successfully raised $8 million in a Series A funding round.
Goosehead Reports 23% Surge in Revenue Growth for 2023
Goosehead Insurance has reported a substantial growth in total revenues for the third quarter of the year, reaching $71 million—an impressive 23% surge compared to the same period in 2022.
AI-Driven DGTAL Launches Intelligent Document Processing Tool, GRABBER
Insurtech firm DGTAL has introduced GRABBER, a cutting-edge Intelligent Document Processing tool, as part of its Software-as-a-Service (SaaS) platform specialising in AI-driven audit solutions for insurance portfolios.
Boost Insurance Launches Boost Re and Full-Stack Captive-as-a-Service Offering
Insurance infrastructure company, Boost Insurance has announced the launch of Boost Re, a new risk transfer platform as the latest component of Boost’s comprehensive insurance-as-a-service stack.
Nationwide and Resideo Technologies Partner to Enhance Home Protection Through Smart Solutions
Nationwide has announced its partnership with Resideo Technologies – a global provider of Honeywell Home smart thermostats and First Alert solutions.
Kota Secures US$5.2 Million in Seed Funding to Transform Employee Benefits Automation
Kota, previously known as Yonder, has successfully concluded a US$5.2 million (€5M) Seed funding round, marking a significant milestone in its mission to streamline and automate insurance and retirement benefits for modern teams.
Chubb Reveals Q3 Results with Soaring Net Income and Record Operating Income
Chubb Limited has announced its outstanding third-quarter performance, revealing remarkable growth in key financial metrics.
Insurtech QuoteWell Raises US$15 Million in Series A Round to Fund Expansion
Insurtech startup QuoteWell has raised US$15 million in its Series A round – an investment that will be used to expand and scale the startup.
Canopy Connect Raises US$6.5 Million in Series A Led by Nevcaut Ventures
Canopy Connect, the leading platform for collecting, verifying, and monitoring insurance information has announced the closing of a US$6.5 million Series A funding round.
Marsh Launches Global Cyber Practice to Strengthen Worldwide Cybersecurity Offerings
Marsh has announced the launch of a groundbreaking initiative—the Marsh Specialty global cyber practice.
EMPOWERING INSURANCE: Nellie Chan, Director of Customer Solutions at Google Hong Kong on Driving Digital Transformation
With a background in media marketing and business strategy, and driven by a passion for all things digital, Nellie Chan’s career trajectory has taken her on quite a journey. Insurtech Insights finds out more.
QBE Partners with Novidea to Accelerate Canadian Growth with Innovative Insurance Platform
Novidea, a leading provider of born-in-the-cloud insurance management solutions, has announced a strategic partnership with QBE Canada, a key subsidiary of the globally renowned QBE Group.
Marsh Announces Key Leadership Appointments for UK Operations
Marsh McLennan, the global insurance broker, has revealed strategic leadership changes with the appointment of Beth Thurston as the new CEO of UK Risk Management and Hema Mistry as the CEO of UK Financial and Professional (FINPRO).
Shippo and Cover Genius Launch Shippo Total Protection Insurance Solution for Merchants Worldwide
Shippo, the leading shipping platform for modern e-commerce, has joined forces with Cover Genius, the insurtech for embedded protection, to introduce Shippo Total Protection.
Howden Expands in Luxembourg and Belgium Through Two Strategic Acquisitions
Global insurance group Howden has announced the completion two major acquisitions; the portfolio of United Brokers S.A. (United) and Belgium’s WDR Insurance Group BV (WDR).
Insurtech Laka Secures US$8 Million Funding, Acquires Rival Cylantro to Fuel European Expansion
UK Insurtech start-up Laka has successfully raised US$8 million in a recent funding round, led by the French mobility fund Shift4Good.
Protos Labs Secures US$2.1 Million in Successful Seed Funding Round
Singapore-based cyber risk management firm, Protos Labs, has triumphantly concluded its seed funding round, raising US $2.1 million (SGD $3 million).
AXA XL and AXA Research Fund Partner with CCRS to Pioneer Solutions for Global Systemic Risks
AXA XL and the AXA Research Fund have joined forces with the Cambridge Centre for Risk Studies (CCRS) to address and mitigate systemic risks such as climate change, pandemics, cyber threats, geopolitical shifts, and financial crises.
Messagepoint and Unqork Partner to Transform Customer Experiences for Life Insurers
Leading cloud-based customer communications management (CCM) solutions provider, Messagepoint, and prominent codeless platform, Unqork, have forged a partnership to empower life insurers in the pursuit of modernising customer experiences effortlessly, without the need for coding.
Previsico Secures Additional Funding to Drive European Growth and Facilitate US Expansion
ClimateTech firm Previsico, renowned for its live flood alert solutions, has successfully concluded its latest funding round, marking a substantial increase in valuation compared to the previous round in August 2021.
Inflation Pressures Prompt Americans to Postpone Medical Care and Adjust Health Insurance
The escalating inflation and surging healthcare costs in the United States are compelling a growing number of Americans to defer medical treatments and reconsider their health insurance options, according to a new survey carried out by Nationwide and the Harris Poll.
UK Insurtech Bikmo Secures US$4.1 Million in Funding for European Expansion
Bikmo, the insurtech company that provides coverage to Deliveroo’s fleet of bikes and e-bikes, has successfully secured US$4.1 million (£3.4 million) in funding.
Building Embedded Partnerships: Peter Smith of Cover Genius Talks Travel Tactics
Partnerships are driving disruption across the insurance industry with embedded products leading the way. Insurtech Insights caught up with Peter Smith, Vice President, Strategic Partnerships – Travel, EMEA for Cover Genius
Israeli InsurTech Accelerator Reports Startup Achievements as Israel’s Businesses Focus Once More on Growth
Insurtech Israel has released the results of the Israeli InsurTech Accelerator programme, revealing a raft of achievements from the growing, startup industry.
bolttech Forges New Partnership with Leading Nordic Telco Three Sweden
International insurtech, bolttech, has announced its partnership with the Swedish telecommunications service provider, Three Sweden.
AXA XL Launches Immersive VR Driven Training Solution
AXA XL Risk Consulting has launched AXA Immersive Solutions, a groundbreaking training solution that harnesses the power of Virtual Reality (VR) and Digital Twin technologies.
Chubb and SentinelOne Begin to Enhance Cyber Risk for US and Canadian Businesses
Chubb and cybersecurity leader SentinelOne have begun to streamline cyber risk management practices for U.S. and Canadian businesses, following their partnership announcement last month.
Insurtech Veruna Secures US$10 Million in Series B Funding
Veruna has announced the successful closure of its Series B fundraising round, raising a substantial $10 million.
Markel Invests 49% in Tax MGA Certa for Strategic Growth
Markel Group Inc.’s insurance arm, Markel, has revealed a strategic move with a 49% investment in Certa, a tax managing general agent (MGA).
BrokerTech Ventures Accelerator Programme Sees Collective Valuation of Startups Approach US$1 Billion
Pioneering broker-centric Insurtech accelerator programme, BrokerTech Ventures (BTV), has announced results from its latest report of its accelerator startups, with their collective valuation approaching US$1 billion.
Insurtech iink Payments Raises US$12 Million in Series A Round
iink Payments, a digital payments network specialising in expediting fund disbursements related to multi-party property insurance claims, has successfully raised $12 million in a Series A financing round.
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