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Aon Launches Franchise Solutions Programme Powered by CoverWallet Technology
Aon has officially launched its Franchise Solutions programme in North America, leveraging cutting-edge technology from CoverWallet.
STARTUP STORY: Anthony Peake, Founder & CEO of Intelligent AI on Winning the Innovation Race
Solving big problems is a happy pastime for tech wizard, entrepreneur, and business strategist Anthony Peake. Insurtech Insights finds out more.
Optalitix Announces Partnership with Hampden, the No1 Capital Provider at Lloyd’s
Insurtech Optalitix, a specialist data analytics solutions provider, has announced its new partnership with Hampden Risk Partners (HRP), a prominent Lloyd’s syndicate primarily supported by Hampden Agencies Limited.
Arity Partners with Google Cloud to Provide Auto Insurance Customers with Driving Behaviour Data
Arity, a prominent mobility and data analytics company, has officially launched its Arity IQSM network and attributes dataset on Google Cloud’s data exchange platform, Analytics Hub – a platform that empowers auto insurers with enhanced pricing accuracy.
Xceedance Unveils Centre of Excellence for Generative AI
Xceedance, a leading global provider of strategic operations support, technology, and data services for insurance organisations, has officially launched its Centre of Excellence for Generative AI.
Life Insurance Industry Faces Unprecedented US$7.8 Trillion Wealth Transfer by 2040
The World Life Insurance Report 2023, released today by the Capgemini Research Institute, reveals a looming challenge for the life insurance sector as it grapples with an anticipated $7.8 trillion wealth transfer to beneficiaries by 2040—the largest inter-generational wealth shift in history.
Munich Re and International SOS Forge Alliance to Strengthen Pandemic Coverage
Munich Re has joined forces with International SOS, a leading health and security firm, to craft an integrated solution for epidemic and pandemic risk management policies.
The Rockefeller Foundation Announces Partnership with NEF and Himalayan Everest Insurance
The Rockefeller Foundation has unveiled a groundbreaking collaboration with the Nepal Economic Forum (NEF) and its industry ally, Himalayan Everest Insurance in a bid to tackle rising climate threats faced by vulnerable communities in Asia.
How Telematics is Revolutionising Risk Management for Fleet Managers
James Cowen, Chief Commercial Officer (CCO) at HUMN.ai, discusses how telematics is revolutionising risk management for fleet managers
Prove Secures US$40 Million in Funding for Expansion of Digital Identity Solutions
Prove, a leading provider of digital identity solutions, has successfully concluded a funding round, raising $40 million. The funding round was led by MassMutual Ventures and Capital One Ventures.
CSE Insurance Group Becomes Seventh Major Insurer to Announce Withdrawal from California
CSE Insurance Group has officially declared its decision to gradually withdraw coverage from California, adding its name to the growing list of carriers exiting the state.
Clearwater Report says 90% of Insurers Struggle with Outdated Operating Models
A recent report by Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, claims that up to 90% of insurers are at a disadvantage due to their current operating models, deemed inadequate to meet future business needs.
Lloyd’s Sounds the Alarm: Global Economy Faces US$3.5 Trillion Cyber Attack Risk Over Five Years
Lloyd’s has unveiled a startling assessment of the global economy’s vulnerability to a potential cyber attack, estimating a staggering $3.5 trillion in losses over a five-year period.
bolttech Acquires Digital Care to Accelerate Growth in EMEA
bolttech, the fast-growing international insurtech, today announced that it has acquired Digital Care, a leading embedded protection company based out of Poland.
Cowbell Announces First UK Partnership with Global Cybersecurity Firm, Sophos
Sophos, a global cybersecurity innovator, has unveiled its inaugural cyber insurance partnership in the UK, joining forces with Cowbell, a prominent provider of cyber insurance tailored for small and medium-sized enterprises (SMEs).
Lockton Re Breaks New Ground in Reinsurance Efficiency through Supercede Partnership
Lockton Re has entered into a long-term partnership with Supercede, a leading reinsurance technology provider, to refine its reinsurance data processing.
Aviva Boosts Pricing Strategies by 75% with hyperexponential’s Revolutionary Platform
Aviva, the leading insurance provider in the UK, says its pricing strategies have been accelerated by 75%, following its partnership with pricing insurtech hyperexponential – and integration with its cutting-edge platform.
Nirvana Insurance Secures US$57 Million in Series B Funding Round
Commercial fleet insurance startup Nirvana Insurance has successfully raised $57 million in a Series B funding round.
MetLife Forms Strategic Alliance with Nayya
In a strategic move, MetLife has partnered with Nayya, a startup dedicated to streamlining the selection and comprehension of employer-provided healthcare plans.
Superscript Announces New Partnership with TSB Bank to Boost SMB Insurance Cover
Superscript has announced a new partnered with TSB Bank to provide its small business banking customers with tailored, flexible business insurance.
Hub Acquires Insurance Agency AP Group to Boost Broker’s Healthcare Capabilities
Hub has announced the acquisition of AP Group, a comprehensive insurance agency specialising in coverage for dentists, oral surgeons, physicians, business professionals, and associations. Terms of the transaction were not disclosed.
Ecclesiastical and MGA iprism, Launch Digital Platform for Small Nonprofits
Ecclesiastical, a specialist insurer, has joined forces with iprism to unveil a cutting-edge digital platform tailored to cater to the insurance needs of smaller not-for-profit organisations within the charity, education, and faith sectors.
Pantomath Secures US$14 Million in Series A Funding Led by Sierra Ventures
Pantomath, a leading “data pipeline observability and traceability platform,” has raised US$14 million in its Series A funding round.
Accelerant Expands to Canada via Acquisition of Omega Insurance
In a move aimed at broadening its footprint in the Canadian market, insurtech firm Accelerant has announced the acquisition of Omega Insurance Holdings, Inc. from Till Capital Ltd.
FINEOS Partners with Osara Health to Improve Cancer Care Experience
FINEOS has joined forces with Osara Health, a digital health platform founded by oncologists. The aim is to enhance the care experience for individuals grappling with cancer.
Hiscox Finds Cyber Attacks Surge on Businesses for Fourth Consecutive Year
A recent investigation by Hiscox has uncovered a disturbing pattern of escalating cyber attacks on businesses, marking the fourth consecutive year of growth in such incidents.
Rob Powell Appointed Global Chief Claims Officer at WTW
Powell is slated to step into his role at WTW in early 2024, where he will report directly to Adam Garrard, the Global Head of Risk & Broking at the company.
Howden Secures £500 Million Deal to Transform Start-ups into Underwriters
Howden, the prominent UK insurance broker, has successfully secured £500 million in insurance capacity from a consortium of Lloyd’s of London firms.
Accelerating Automated Enterprise, by Developing the Enterprise Operating System
In the first of a series of articles, Hossein Kakavand, Founder of Luther Systems, discusses the impact of Deep Process Automation and its impact on tasks and workflows
Slide Insurance Secures Renewal Rights for 86,000 Farmers Insurance Homeowners Policies in Florida
Slide Insurance, the comprehensive homeowners insurtech platform, has successfully acquired the renewal rights for 86,000 homeowners insurance policies in Florida from Farmers Insurance.
11 Insurtech Funding Rounds Boosting Growth in the Marketplace
Raising capital in these challenging times is an impressive achievement. Insurtech Insights rounds up the latest investment events in Insurtech
The European Space Agency Partners with ICEYE to Transform Disaster Management from the Stratosphere
In a groundbreaking collaboration, ICEYE, a leading provider of natural catastrophe solutions and insights, is joining forces with the European Space Agency (ESA) to pioneer the next generation of Earth Observation insights, with a focus on revolutionising disaster and crisis management from the unique perspective of space.
EMPOWERING INSURANCE: Lauren Liang, Global Head of Growth & Innovation for Swiss Re, on Embracing Disruption
Bringing ever more effective solutions and innovations to the customer space is all in a day’s work for Lauren Liang of Swiss Re, who thrives on change and innovation.
Manulife Announces US$1 Million Partnership with Crowdfunder Kiva
Manulife has officially launched a US$1 million partnership with Kiva, the renowned global crowdfunding microlending platform, to encourage entrepreneurship in South Asian communuties.
Allianz Expands Italian Presence with Acquisition of Tua Assicurazioni for €280 Million
In a strategic move to fortify its foothold in the Italian insurance market, Allianz has announced its agreement to acquire Tua Assicurazioni from Assicurazioni Generali.
Insurtech Vellum Raises US$7 Million to Transform Insurance Analytics
Vellum Insurance, a cutting-edge provider of data and analytics solutions for the insurance and reinsurance sector, has emerged from stealth mode with a successful US$7 million seed funding round.
Lloyd’s Introduces Data Tool Revealing US$5 Trillion Impact of Extreme Weather Events
Lloyd’s has launched a groundbreaking systemic risk scenario, unveiling the potential worldwide economic consequences of extreme weather events leading to food and water shocks.
Ukraine Unveils Marsh McLennan-Supported War Risk Data Platform for Comprehensive Analysis
Ukraine has officially launched a data platform, developed with the support of Marsh McLennan, providing a robust tool for insurers, investors, and governments to assess war risks within the country.
AIG Announces Key Leadership Changes to Drive Growth and Enhance Focus
American International Group (AIG) is undergoing a significant shift in its senior management within the general and international insurance divisions, positioning the company for future growth.
Alberta-Based Insurtech Startup, Scription, Secures US$2.5 Million in Funding Round
Scription, an emerging Insurtech company based in Alberta, has successfully concluded its recent funding round, securing an impressive US$2.5 million in capital.
Matic Insurance Secures US$20 Million in Series B Extension
Matic Insurance has successfully raised an additional US$20 million in an extension of its Series B funding round.
Cover Genius Partners with Fintech Klarna via the Insurtech’s Global Platform XCover
Cover Genius, the insurtech for embedded protection, has announced a new partnership with the leading BNPL fintech, Klarna
Egyptian Insurtech Startup Amenli Raises US$1 Million in Equity Funding to Boost Team Expansion
Egyptian startup Amenli has raised US$1 million in equity funding, to scale its North African operations.
WTW Elevates Climate Risk Management with New Leadership and Integrated Approach
Insurance broker WTW has unveiled its plan to realign its climate and Risk & Analytics capabilities under the unified leadership of Peter Carter.
InsuranceDekho Secures $60 Million in Series B Funding, Valued at US$600 Million
Indian insurtech InsuranceDekho has announced the successful completion of its Series B funding round, raising an impressive US$60 million.
China’s Insurance Market Leaps 10 Indexed Places in a Decade, Says New Study from Swiss Re on Digital Adoption
A new report from Swiss Re has found that China has leapt an incredible 10 places, according to the insurance giant’s index on digital adoption – documented in a new report from the Swiss Re Institute.
Bluezone Announces Partnership with Shepherds Friendly to Improve Services for Diabetes Patients
Health insurtech Bluezone has unveiled a groundbreaking partnership with Shepherds Friendly, a leading insurer.
Allianz Partners and bolttech Forge Strategic Alliance to Meet Rising Demand for Embedded Insurance Solutions
In a major move addressing the escalating demand for embedded insurance solutions in the realm of device and appliance protection, Allianz Partners, a global leader in B2B2C insurance and assistance services, has announced a strategic partnership with bolttech, a renowned international insurtech.
BCAA and Blink Parametric Forge Groundbreaking Partnership in Travel Insurance
British Columbia-based BCAA (British Columbia Automobile Association), renowned as BC’s premier choice for travel insurance, has partnered with Blink Parametric to introduce an unprecedented bundled parametric product suite.
French Fintech Lydia and Insurtech Qover Partner to Launch European Travel Insurance for Black+ Cardholders
Paris-based banking startup Lydia has joined forces with insurtech Qover to unveil an innovative travel insurance offering.
French Insurtech Orus Raises €11 Million in Series A Round
French insurtech firm Orus has secured €11 million in a successful Series A funding round, signalling its strategic move to deliver customisable insurance solutions tailored for Small and Medium-sized Businesses (SMBs) across Europe.
Aon Revolutionises Reinsurance Claims Processing Through Digitalization with Appian
In a groundbreaking move, global re/insurance broker Aon has undertaken a significant transformation in its reinsurance claims processing, leveraging the advanced capabilities of the Appian Platform
Israel’s Insurance Industry Races to Mobilise Assistance in Wake of Hamas Attacks; Insurtech Businesses Rally
Israel’s insurance industry is rallying together to assist resident populations and people returning to their country, as well as supporting their staff and operations, following the devastating attacks by Hamas on Saturday, say industry leaders.
Stark Warning as Hacked State Philippine Health Insurer Admits it Lacked Cyber Protection
In a shocking revelation, PhilHealth, the state health insurer of the Philippines, fell prey to a cyber attack due to the absence of cyber protection software, sparking urgent calls for a comprehensive cybersecurity audit.
Indian Insurtech Onsurity Raises US$24 Million in Series B Round Led by World Bank’s IFC
Onsurity, a startup specialising in employee healthcare benefits, has successfully secured $24 million in its latest Series B funding round.
Arthur J. Gallagher Expands in Arizona with The Coverage Pro Acquisition
Arthur J. Gallagher & Co. has successfully completed the acquisition of The Coverage Pro, a prominent retail insurance broker specialising in construction for both commercial and personal lines clients across the state.
Getsafe Expands Market Presence with Acquisition of Luko’s German Customer Base
In a significant move to bolster its market presence, Getsafe, the innovative neo-insurer based in Germany, has successfully secured an agreement to acquire the German customer base of French insurtech company Luko.
bolttech and Trip.com Join Forces to Launch In-App Insurance Service in Hong Kong
In a strategic move to enhance customer convenience, bolttech Insurance, the Hong Kong-based general insurance arm of global insurtech company bolttech, has announced a groundbreaking partnership with renowned travel company Trip.com.
Coalition Continues to Scale; Expands Executive Risks Insurance to Cover Surplus Lines Paper
Coalition has expanded the availability of its comprehensive Executive Risks Insurance products by offering them on surplus lines paper.
12 New Partnerships Driving Transformation in Insurance
This month already, we’ve seen a raft of impressive partnerships, not least, one that will revolutionise insurance and financial services across the African Continent. Check out our round-up of the latest industry collaborations.
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