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Sanlam and Allianz Unite to Establish African Insurance Powerhouse Operating Across 29 Countries
Sanlam, Africa’s foremost non-banking financial services giant, and Allianz have entered into a strategic agreement that will provide financial and insurance services across 29 African countries.
AON Announces Acquisition of India’s Global Insurance Brokers
Global Insurance Brokers (Global), one of the premier providers of risk management, insurance, and reinsurance broking services in India, has officially announced its acquisition by Aon plc.
Cover Genius Announces Partnership with Leading Indian Travel Platform, EaseMyTrip
EaseMyTrip.com, one of India’s largest online travel platforms, has announced its new partnership with embedded protection insurtech, Cover Genius.
PIB Group Appoints New Leadership Roles
In a recent announcement, PIB Group Ltd (PIB) has revealed the appointment of Zach Gray as the new CEO for the Specialty Division, while Steve Redgwell assumes the role of Chair.
Kita Teams Up with Puro.earth to Introduce Exclusive Biochar Carbon Insurance
Kita, a leading carbon insurance specialist and Lloyd’s of London coverholder, has joined forces with Puro.earth, an ICROA-backed carbon standard.
Insurtech Start-Up Breach Insurance Launches Crypto Shield Pro
Breach Insurance, a Boston-based global insurance underwriter that provides insurance technology and regulated insurance products for the cryptocurrency market, has announced the launch of Crypto Shield Pro – an innovative crypto custody insurance policy for institutional clients of crypto custody solutions.
Majesco Ranked #1 Leader in Quadrant Knowledge Solutions
Majesco has announced that it ranked as the #1 leader in Quadrant Knowledge Solutions “SPARK Matrix: P&C Core Insurance Platform, 2023” and SPARK Matrix: Life Insurance Policy Administration System, 2023” reports.
SkyWatch and Droneinsurance.com Partner to Set New Benchmark in Digital Drone Insurance
SkyWatch, a leader in digital insurance has announced the strategic acquisition of Droneinsurance.com’s assets.
AXA Unveils Comprehensive Global Wellbeing Program “We Care” for Employees
Insurance giant AXA has introduced its transformative “We Care” program, designed to provide unwavering support to its 110,000 employees worldwide at various stages of life and critical moments.
Akur8 Announces Platinum Sponsorship of 2023 Casualty Actuarial Society (CAS) Annual Meeting
Akur8, the next generation insurance pricing solution powered by transparent machine learning, is excited to announce its Platinum sponsorship of the 2023 CAS Annual Meeting for the third year in a row.
AI-Driven Insurtech Reserv Raises $20 Million is Series A Led By Altai Ventures and Bain Capital Ventures
Reserv, a frontrunner in AI-powered insurance claims processing, has successfully concluded its Series A funding round, securing $20 million to enhance its generative AI tools for claims data analysis.
Why Integrative Ecosystems are the Winners of Tomorrow
Laura Kauther, Commercial Director at ELEMENT, discusses why ‘insurers’ will still thrive when the word ‘insurance’ is not relevant anymore.
wefox Appoints Jonathan Wismar as Group Chief Financial Officer
wefox is stepping up its plans for profitable growth and global expansion with the appointment of Jonathan Wismer as its new Group Chief Financial Officer (CFO) effective 1 October 2023.
LEADERSHIP SPOTLIGHT: Teo Blidarus, CEO and Co-Founder, FintechOS, on Simplifying Fintech for All
With a passion for technology and 25 years in the fintech space, Teo Blidarus, CEO and Co-Founder of FintechOS, is on a mission to make financial innovation available to all companies globally. Insurtech Insights caught up with him to find out more.
MGT Partners Launches MGT Insurance Following the Acquisition of CM Select
MGT Partners has initiated the launch of MGT Insurance through the acquisition of CM Select from Church Mutual, a prominent insurer of religious organisations in the US.
WTW Launches New Specialised MGU, Verita
Leading insurance broker, WTW, has launched a new Specialised MGU, called Verita, that is strategically positioned to deliver tailor-made insurance solutions catering to real estate, hospitality and leisure.
wefox is Appointed as Affinity Insurance Partner by WINDTRE Assicurazioni
wefox, one of the world’s leading insurtech, has been appointed as affinity insurance partner by WINDTRE, Italy’s leading telecommunications business.
Resilience Bolsters Cyber Defenses with US$12.1 Million Insurance Coverage Expansion
Resilience, a leading cyber risk solution provider, has announced a substantial increase in its underwriting capacity, now extending up to US$12.1 million in cyber insurance coverage for clients in the United Kingdom and the European Union.
Coalition and MS&AD Insurance Group Partner to Provide Cybersecurity Insurance Solutions in Japan
Cyber insurtech leader Coalition has announced a strategic partnership with MS&AD Insurance Group, the largest non-life insurer in Japan and across the ASEAN region, to provide cybersecurity monitoring solutions to small and medium-sized businesses (SMBs).
Allium Data, Inc. Secures US$750,000 in Pre-Seed Funding for Disruptive Insurtech Innovations
Insurtech startup Allium Data, Inc., has announced the conclusion of its pre-seed funding round, amassing a US$750,000 in financial backing.
Munich Re Green Tech Solutions Achieves Final Certification of Photovoltaic Warranty Insurance with Sunova Solar
Munich Re Green Tech Solutions has successfully completed the final certification of photovoltaic warranty insurance in collaboration with Sunova Solar, a leading global energy solutions company specialising in the design and manufacturing of clean renewable energy components.
EMPOWERING INSURANCE: Rebecca Zhang, Chief Partnership Officer for SCOR’s Life and Health Business in South Asia
Like most leading insurance experts, SCOR’s Rebecca Zhang had an inadvertent journey into the insurance business. She talks to Insurtech Insights about why versatile and highly sought-after actuarial skills help to forge strong partnerships.
BeSafe Group Secures €3 Million in Series A Funding for Global Expansion
BeSafe Group, a leading travel-insurtech company headquartered in Rome, has successfully closed a €3 million round in Series A funding.
Clearcover Announces Expansion of Embedded Strategy Via Goosehead Insurance
Embedded auto insurance provider, Clearcover, has announced the expansion of its embedded insurance strategy through a bind-API integration with Goosehead Insurance, Inc., a rapidly growing, independent personal lines insurance agency.
Blue Marble Partners with Nestlé to Launch Weather Insurance Platform in Indonesia
Parametric insurtech Blue Marble and global conglomerate Nestlé, have partnered to deliver weather insurance to coffee farmers in Indonesia.
CoverGo Secures Patent for its Drag-and-Drop Product Builder
CoverGo, a leader in the global Software as a Service (SaaS) no-code insurance core platform for health, property and casualty (P&C), and life, has secured a patent for its cutting-edge drag-and-drop product builder.
Skyrisks Ltd. Officially Launches, Secures Investment and Capacity from Convex Group
London-based Managing General Agent (MGA), Skyrisks Ltd., specialising in the advanced air mobility (AAM) sector, has marked its official launch, buoyed by a substantial investment and capacity support from Convex Group, a prominent specialty re/insurer.
Resistant AI Collaborates with Instabase to Strengthen Document Fraud Detection for Customers
Resistant AI, specialists in financial crime prevention harnessing the power of AI and machine learning, have announced a strategic partnership with Instabase, a leading unstructured data automation platform.
Root to Expand in the UK and Europe Following US$1.5 Million Investment Boost from Invenfin
Root, the comprehensive digital insurance platform, has revealed its expansion plans for the UK and Europe following its latest funding success.
Atlanta-Based Insurtech Safely Raised US$8 Million
Atlanta-based company Safely has successfully secured $8 million in funding, with Highgate Technology Ventures leading the investment and participation from LAGO Innovation Fund.
AXA Uses Advanced AI to Identify RAAC-Affected Customers
In a swift response to potential concerns related to reinforced autoclaved aerated concrete (RAAC), AXA Commercial has harnessed the power of an advanced AI tool, significantly expediting its ability to identify affected customers.
IFC Pledges US$3.5 Billion Credit Insurance Policy in Collaboration with 13 Insurance leaders
The International Finance Corporation (IFC), a prominent global development institution with a focus on the private sector in emerging markets, has inked a monumental $3.5 billion credit insurance policy.
Velocity HoldCo Acquires Majority Stake in Insight Risk Technologies
Velocity HoldCo, LLC, and Insight Risk Technologies LLC have finalised an agreement that sees Velocity acquiring a majority stake in Insight Risk.
Howden Rebrands as Part of Global Consolidation Strategy
Howden has introduced a fresh brand strategy while consolidating its global broking operations under a unified name.
Generali Appoints Giulio Terzariol as CEO of Insurance Division
In a strategic move, Generali has officially named Giulio Terzariol as the Chief Executive Officer of Insurance, a pivotal role that will encompass leadership across all insurance Business Units.
Previsico Raises US$2.4 Million in Funding to Boost Growth in the US and Europe
Previsico has announced the completion of its latest funding round, at a significantly higher valuation than the prior one in August 2021.
Digital Insurtech Haven Life Forges Partnership with Origin8Cares
Haven Life, a digital life insurance agency based in New York and fully owned by MassMutual, is embarking on a strategic collaboration with Origin8cares, an entirely online insurance agency and network of licensed agents headquartered in Lake Oswego, Oregon.
Cancer Detection HealthTech GRAIL Earns a Spot on Fortune’s Prestigious ‘Change the World’ List
HealthTech GRAIL has secured a coveted spot on Fortune’s 2023 Change the World List. This marks the ninth year of the prestigious list, which highlights companies making positive contributions to society through activities integral to their core business.
Former Stripe Executive Patricia Walsh, is Appointed New EVP for AIG
American International Group, Inc. (AIG) has announced the appointment of Patricia Walsh as its Executive Vice President and General Counsel, effective December 1, 2023. This decision underscores AIG’s commitment to bolstering its leadership team with seasoned professionals.
MGA, Measured Analytics, Launches New Cyber Solution for SMEs
Measured Analytics and Insurance, a prominent cyber insurance Managing General Agency (MGA) based in the US, has introduced CyberGuard 2023, a state-of-the-art AI-driven cyber insurance product designed to fortify the cybersecurity defenses of Small and Midsize Enterprises (SMEs).
Allianz CFO, Giulio Terzariol, to Assume New Role at Assicurazioni Generali, Reports Suggest
In a notable new development, Chief Financial Officer Giulio Terzariol of Allianz is reportedly poised to step down from his role within the German conglomerate to assume a key position at Italy’s largest insurer, Assicurazioni Generali.
At-Bay Appoints Kristie Felton as New Head of Insurance
At-Bay has announced the recent appointment of Kristie Felton as the insurtech’s new Head of Insurance.
INSHUR Partners with Uber to Launch Insurance Products for On-Demand Livery Drivers in Arizona
On-demand insurance platform INSHUR has launched its insurance offering for on-demand livery drivers in Arizona, its second state in the US following its success in New York.
Heritage Insurance Deploy’s Guidewire’s ClaimCenter to Boost Claims Operations
Heritage Insurance Company, headquartered in Tampa, Florida, has taken a significant step towards enhancing its claims operations by deploying Guidewire Software’s Guidewire ClaimCenter on Guidewire Cloud.
Incumbent Helvetia Partners with Qover to Drive Pan-European Automotive Insurance
Helvetia, a prominent Swiss insurance company with a rich legacy of 160 years in the insurance sector, has selected Qover, a leading player in embedded insurance orchestration, as its strategic insurtech collaborator to revolutionise the European automotive insurance landscape.
Nationwide Policies Not to Be Renewed Amid Ongoing Coastal Hurricane Threat for North Carolina Homeowners
Nationwide Insurance has announced its decision not to renew a substantial number of homeowners’ insurance policies in North Carolina, a move rooted in their deep-seated concerns regarding hurricane risks.
Gallagher Re Appoints Linda Purnama to Spearhead Indonesian Reinsurance Operations
Gallagher Re has announced the appointment of Linda Purnama to spearhead its reinsurance arm in Indonesia, marking a significant move aimed at fortifying client relationships within the country.
Helios Underwriting Reports 28% Growth in Gross Written Premiums to £160m in H1
Helios Underwriting, the Lloyd’s focused investment entity, has released its H1 2023 financial results, showcasing an impressive 28% surge in gross written premiums (GWP) to reach £160 million.
QBE Announces Finalists and Winners in AcceliCITY Resilience Challenge
QBE North America, the global insurance leader helping customers solve unique risks, in partnership with Leading Cities, has unveiled the 10 finalists for the 2023 QBE AcceliCITY Resilience Challenge main track, along with the victors of the property tech track.
USAA Expands Partnership with Resideo to Enhance Home Protection
USAA, a leading financial services provider, has announced an expansion of its collaboration with Resideo Technologies, based in Scottsdale, Arizona, to bolster its commitment to safeguarding homes and optimising efficiency.
Aon Introduces FI Protect 360 Insurance Solution for Financial Institutions
Aon plc has launched its cutting-edge insurance solution, FI Protect 360, in collaboration with esteemed London market insurers.
Munich Re Ventures Backs US$50 Million Series A for German Autonomous Truck Startup, Fernride
Fernride, a cutting-edge German startup based in Munich, has successfully raised an impressive $50 million in funding for its innovative self-driving trucks initiative.
Verisk’s ISO Businessowners Programme Adds Nearly 160 New Classifications to Help Insurers Keep Pace with Evolving Risks
Verisk has announced the launch of its latest update to the ISO Businessowners (BOP) programme and has added almost 160 new classifications to help insurers keep up with evolving risks.
Chubb and SentinelOne Join Forces to Elevate Cyber Risk Management
Chubb has entered into a strategic partnership with SentinelOne, a frontrunner in the cybersecurity industry. The collaboration aims to revolutionise cyber risk management practices for businesses across the US.
Peppercorn AI Partners with Aurum Solutions to Drive Scalability
Peppercorn, the conversational AI platform designed for the insurance sector, has partnered with Aurum Solutions, specialists in next-generation reconciliation software, to streamline their reconciliation processes.
Hiscox Finalises Sale of DirectAsia Business to Boost Thailand Holdings Limited
International specialist insurer Hiscox has entered into an agreement to sell DirectAsia, its business operations in Singapore and Thailand predominantly providing motor insurance, to boost Thailand Holdings Limited, the parent of the Roojai group of companies.
Korean Re Records Robust Growth in H1 2023 Net Income
Korean Re has unveiled its financial performance for the first half of 2023, revealing a robust net income of KRW 268.9 billion.
SCOR Announces Two Key Additions to its Executive Committee
In a strategic move, SCOR has introduced significant changes to its senior leadership team by appointing Claudia Dill as the new Chief Operating Officer for the Group and Redmond Murphy has been named as the Deputy Chief Executive Officer for SCOR Life & Health.
Bold Penguin Joins Forces with NEXT Insurance to Broaden Product Selections on Terminal
Bold Penguin has forged a strategic partnership with NEXT Insurance, a leading technology-driven insurer specialising in small businesses, with the aim of enriching the range of coverage options available on the Bold Penguin Terminal.
MGA Redline Underwriting Attains Lloyd’s Coverholder Status
Redline Underwriting, a Managing General Agent (MGA), has achieved official recognition as a Lloyd’s coverholder, marking a milestone in its ongoing expansion efforts.
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