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Hexature Announces Acquisition of Insurtech Startup, Vive
Hexure, a leading provider of sales and regulatory automation solutions catering to the life and annuity sector, has officially completed the acquisition of Vive, an innovative startup specialising in quote and e-submission solutions for the life insurance industry.
RLI Boosts Claim Operations with Implementation of Guidewire ClaimCenter on Guidewire Cloud
Guidewire has announced that specialty P&C insurer RLI, a US-based specialty property and casualty (P&C) insurer, implemented Guidewire ClaimCenter on Guidewire Cloud to power its claim operations and enhance the claim experience for agents and policyholders.
PwC UK Partners with Clearspeed Inc. to Transform Risk Assessment through AI-Powered Voice Analytics
PricewaterhouseCoopers (PwC) UK has unveiled a strategic alliance with Clearspeed Inc., a leading provider of voice analytics technology.
Arch Insurance (Bermuda) Welcomes Matthew Smith as New Managing Director
Arch Insurance (Bermuda), a specialty insurer and a member of the Arch Capital Group, is pleased to announce the appointment of Matthew Smith as its new Managing Director.
Allianz Announces Extended Partnership with Car Subscription Company Fleetpool
Allianz Versicherungs-AG has announced it is expanding its partnership with Fleetpool – one of the largest providers of car subscription models in the B2C and B2B2E sectors in Germany – in a targeted manner to usher in more ESG mobility offerings and support net zero regulations in Germany.
Arthur J. Gallagher & Co. Completes Acquisition of Hartley Cylke Pacific Insurance Services
Arthur J. Gallagher & Co. has successfully acquired Hartley Cylke Pacific Insurance Services, Inc., a renowned retail insurance broker based in San Diego, California. The acquisition marks a significant development in Gallagher’s expansion strategy.
Insurers Face Challenges from Offshore Wind Industry Technical Issues, Warns Allianz
The offshore wind industry is on the brink of exponential growth, but both developers and insurers must navigate a complex web of challenges to ensure its successful expansion on a global scale, cautions Allianz in a recent report.
Mulberri Launches Certificate of Insurance Platform for PEOs and Workers’ Compensation Master Carriers
In a groundbreaking move, Mulberri, an innovative AI-driven embedded insurance startup, has unveiled its cutting-edge Certificate of Insurance (COI) platform.
MetLife UK Boosts Focus on Customer Value with the Creation of new Customer Propositions Role
MetLife UK, the protection and employee benefits provider, has appointed Charlotte Lade as Head of Customer Propositions reflecting the changing needs of the protection landscape and placing an even greater focus on delivering maximum customer value.
Generali Partners with UNDP to Reduce Protection Gap and Aid SMEs
Global insurance leader Generali has joined forces with the United Nations Development Programme (UNDP) to launch the “Insurance Innovation Challenge Fund,” aimed at fostering innovative insurance solutions in Malaysia. This collaborative effort also marks the expansion of Generali’s flagship SME EnterPRIZE project into the Asian market.
Lloyd’s Commercial Director Hails Lloyd’s Lab for Pivotal Role in Global Marketplace Enhancement
Dawn Miller, the Commercial Director of Lloyd’s, delivered an impactful address to Lloyd’s participants and partners, where she lauded the Lloyd’s Lab for its remarkable contributions in elevating value within the global marketplace.
Ageas Completes Sale of French Life Insurance Operations to Carac
International insurance conglomerate Ageas has successfully concluded the sale of its French life insurance, savings, and pension business to La Mutuelle Epargne Retraite Prévoyance Carac (Carac).
J.P. Morgan’s Positive Outlook Shines on European Insurance Sector Despite Early 2023 Underperformance
J.P. Morgan, a leading global investment bank, has delivered an optimistic assessment of the European insurance sector, even in the face of its underperformance during the initial months of 2023.
Aviva Agrees to Acquire AIG’s UK Life Insurance Business for US$563 Million
Leading British insurer Aviva has announced that it has reached an agreement to purchase the UK life insurance business of American International Group (AIG) for a substantial sum of £460 million (US$563 million).
Ledgertech, Cellcom, and Menora Mivtachim Partner to Launch First Automated Digital Embedded Travel Insurance Solution
Ledgertech, an innovative insurtech company that has developed an advanced digital platform for creating embedded insurance products using cutting-edge technology, has partnered with Cellcom, a prominent telecommunications company, and Menora Mivtachim Group, a trusted insurance provider, to introduce a groundbreaking travel insurance product.
15 Insurtech Partnerships Strengthening the Ecosystem this Month
September has already seen a raft of impressive new partnerships being forged among insurtechs and incumbents alike. Read on to find out who is partnering with whom, and why.
Gallagher Acquires Ace Commercial to Strengthen Transportation Market Presence
Arthur J. Gallagher & Co has made a significant move to bolster its position in the competitive transportation market with the acquisition of Ace Commercial Insurance Center, based in California.
Chubb’s Jérôme Gossé Joins Sompo International as Head of Cyber Insurance, Continental Europe
Sompo International has announced a strategic addition to its leadership team with the appointment of former Chubb executive Jérôme Gossé as the Head of Cyber Insurance for Continental Europe.
Markel and Cytora Partnership Spurs Remarkable 113% Productivity Surge for Underwriting Team
Markel, a prominent specialty insurer, and cutting-edge insurtech firm Cytora have unveiled the extraordinary outcomes of their collaborative effort, which have led to an astounding 113% increase in productivity (Gross Written Premium per Full-Time Equivalent) for Markel’s underwriting team.
Authentic Secures $5.5 Million in Seed Funding to Unveil Innovative Captive Insurance Platform
Authentic, the turnkey insurance platform catering to vertical Software-as-a-Service (SaaS) enterprises, has successfully raised US$5.5 million in seed funding.
NYC, DC, LA Identified as US Cities Most Iikely to see Unrest in the Next Year, Reveals Verisk
New York City, Washington DC, and Los Angeles are among the major US cities that have the highest chance of experiencing outbreaks of damaging civil unrest in the next 12 months, according to a new predictive data model released by Verisk’s global risk intelligence unit, Verisk Maplecroft.
BOXX Insurance Partners with NSU to Provide Cyber Protection Education Services
BOXX Insurance has announced a strategic partnership with Nova Southeastern University (NSU) and the Alan B. Levan | NSU Broward Center of Innovation.
Openly Secures $100 Million in Series D Funding Round
In a significant financial development, home insurance startup Openly has successfully raised $100 million in its latest Series D funding round, with Eden Global Partners spearheading the investment.
Cyber Attacks and Financial Risks Top Concerns for Mid-Sized Companies, Reveals QBE
In the latest release of their 2023 Mid-Sized Company Risk Report, QBE North America has identified cyber attacks and financial risks as the foremost worries among mid-sized businesses operating in the United States.
Insurify Partners with Santander Consumer to Introduce Digital Auto and Home Insurance Marketplace
Insurify has embarked on a multi-year collaboration with Santander Consumer USA Inc. (“Santander Consumer”), a leading player in auto finance.
Bolttech Secures US$50 Million in Series B Funding Round Led by LeapFrog Investments
Singapore-based insurtech leader, bolttech, has successfully raised $50 million in its latest Series B funding round, with impact investment firm LeapFrog Investments at the helm of this strategic investment.
Conduit Re Partners with hyperexponential for Pricing Decision Intelligence
Conduit Re, the global reinsurer headquartered in Bermuda, has embraced pricing decision intelligence (PDI) through its collaboration with hyperexponential.
Legal & General Negotiates £340 Million Buy-In Deal with Cable and Wireless Superannuation Fund to Safeguard Retirement Benefits
In a significant financial move, Legal & General Assurance Society Limited has successfully closed a substantial £340 million buy-in agreement with the Cable and Wireless Superannuation Fund, safeguarding the retirement benefits of approximately 1,800 retirees and deferred members.
Cyber Insurance Claims More Frequent and Serious in 2023, Says Coalition
Coalition has released its 2023 Cyber Claims Report: Mid-year Update, which details the evolution of cyber trends during the first half of 2023.
Corvus Insurance Expands Cyber Underwriting Relationship with Travelers
Corvus Insurance, the leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, today announced that it has expanded its relationship with Travelers, a leader in personal, business and specialty insurance.
How Verisk’s SRCC Solution is Insuring Against the Unthinkable
New technologies are enabling businesses to predict a whole new spectrum of risks related to political instability, rioting, strikes, terrorism, warfare and more. Insurtech insights talks to Torbjorn Soltvedt, Principal Analyst at Verisk Maplecroft, to find out how.
UN Capital Development Fund and the Sustainable Markets Initiative Insurance Task Force, Partner to Improve Insurance Access for Climate-Vulnerable Countries
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, on behalf of the Sustainable Markets Initiative’s Insurance Task Force, has announced a partnership with the United Nations Capital Development Fund (UNCDF) to scale insurance access for climate-vulnerable countries.
Lloyd’s Market Association Launches ESG Academy to Empower Re/Insurance Professionals
Lloyd’s Market Association (LMA) has unveiled its Environmental, Social, and Governance (ESG) Academy, meticulously crafted to cater to professionals entrenched within the Lloyd’s market and the broader global re/insurance sector.
SMB Insurtech Kayna Raises US$1.06 Million in Pre-Seed Round
Kayna, the Cork-based award-winning embedded insurance infrastructure platform, has closed a US$1.06 million pre-seed funding round.
Talanx Launches €300 Million Capital Raise to Boost Free Float
European insurance giant Talanx has initiated a €300 million capital raising effort aimed at expanding its free float, a strategic move to bolster the liquidity of its shares and solidify its standing in equity indices.
SAP Fioneer Launches ESG Software to Help Financial Institutions Mitigate Growing Regulatory Risks
SAP Fioneer, a leading global provider of financial services software solutions and platforms, has launched its first software solution for ESG data orchestration and calculation for portfolio and single exposure KPI.
Gallagher Announces Plans to Acquire Eastern Insurance Group
Gallagher has revealed its plan to acquire Eastern Insurance Group, a subsidiary of Eastern Bank located in Natick, Massachusetts.
Transamerica Forms Strategic Partnership with Bestow
Transamerica has unveiled a significant strategic alliance with Bestow, marking a significant development in the insurance landscape
Sedgwick Launches New Capability Framework to Tackle Industry-Wide Skills Shortage
Sedgwick, a global leader in technology-enabled risk management, benefits, and integrated business solutions, has unveiled a new local capability framework tailored for Australia.
Akur8 Partners with Wüstenrot Gruppe to Enhance Pricing Capabilities in Austria
AKUR8 and Wüstenrot Gruppe have announced a new collaboration aimed at enhancing Wüstenrot’s pricing capabilities in Austria.
Redkik Announces a Strategic Partnership with Lockton Companies Via McLeod Software
Redkik has announced it is joining forces with Lockton Companies, the world’s largest privately held insurance broker, in an exciting strategic partnership with McLeod Software.
Stoïk Secures US$10.7 Million in New Funding, Eye’s International Expansion
In a recent undisclosed series funding round, cybersecurity insurance startup Stoïk has successfully raised $10.7 million, with contributions from both existing investors such as Alven and Andreessen Horowitz, as well as new backers, including Munich Re Ventures and Opera Tech Ventures.
Lloyd’s Underwriting Room Reopens for Trading Following 10-Week Refurb
London’s historic Lloyd’s underwriting room has once again swung open its doors to welcome face-to-face trading, marking the end of a 10-week closure for a comprehensive refurbishment.
NEXT Insurance Launches Coverage Builder for Enhanced Agent Experience
NEXT Insurance, the prominent digital small business insurer, has unveiled a game-changing feature that empowers agents to finely customise coverage quotes, thus better serving the unique requirements of their small business clientele.
Planck Launches First GenAI-Enhanced Underwriting Workbench Solution
Planck has unveiled an innovative underwriting tool named Planck PLUS – a new platform that incorporates advanced Generative AI (GenAI) functionalities, marking a significant milestone in the evolution of underwriting processes.
Aon Joins the International Emissions Trading Association (IETA) to Accelerate Carbon Credit Agenda
Aon, a global leader in risk management and insurance, has officially become the first member of the International Emissions Trading Association (IETA) to possess risk capital capabilities.
Liberty Mutual Surety to Acquire House of Guarantees in Norway
Liberty Mutual Surety (LMS) has announced a significant agreement to acquire the House of Guarantees (HOGS), a prominent managing general agent headquartered in Oslo, Norway.
Insurify Partners with Fletch to Launch New Pet Insurance Coverage
Insurify has forged a partnership with embedded insurance startup Fletch to introduce pet insurance to its platform.
Hollard Accelerates Claims Processing Through Guidewire Platform
Hollard has successfully expedited its operations with the adoption of the cloud-based Guidewire ClaimCenter. The insurer’s transition to this innovative platform has yielded promising results.
Hong Kong Insurtech Bowtie Raises US$34.9 Million in Series B2 Funding Round
Hong Kong-based virtual insurer, Bowtie, has announced the successful conclusion of a Series B2 funding round, raising a substantial $34.9 million in capital.
EMPOWERING INSURANCE: Sri Ramaswamy, CEO and Founder of Charlee.AI
From showroom sales to CEO, Sri Ramaswamy, Founder of Charlee.AI, talks to Insurtech Insights about her climb to the top and her passion for insurtech
Hippo Investors Call for Board’s Strategic Review Following Share Price Dip
Leading P&C insurtech Hippo has come under scrutiny, after a concerned shareholder group sent an open letter to the company’s board of directors.
Benekiva Appoints Tony Diodato As New CRO of Benekiva’s Claims Platform Solutions
Benekiva, a leading provider of innovative digital claims automation and optimisation solutions, proudly announces the appointment of Tony Diodato as its new Chief Revenue Officer.
HUB’s US$23 Billion Valuation Brings in Additional Minority Investment
Hub International Limited (HUB), a leading global insurance brokerage, announced today that it has successfully completed a substantial minority investment from Leonard Green & Partners, L.P. (LGP), along with several other prominent institutional minority investors.
Insurtech Funding Round-Up: SEVEN Stellar Investment Events Scaling the Industry
In our latest insurtech investment funding round-up, we look at SEVEN companies that have raised significant amounts of capital that will drive their scaling strategies and disruption in the industry.
Insurtech Beam Benefits Raises US$40 Million in Series E Round
Beam Benefits, a trailblazing digital employee benefits company, announced today that it has successfully secured $40 million in funding.
Blackstone Combines Insurance and Credit Arms to Launch BXCI
Blackstone has launched a new restructuring effort, consolidating its corporate credit, asset-based finance, and insurance divisions into a unified entity known as Blackstone Credit & Insurance (BXCI).
LEADERSHIP SPOTLIGHT: Lisa Wardlaw, Founder of 360 Digital Immersion, on Shaping the Future of Insurance
As a Founder and former CFO with a background in economics, accounting and back ops digital technologies, Lisa Wardlaw has big ideas when it comes to implementing change in the industry
Chubb Launches Lloyd’s Lithium Battery Consortium
Chubb has today announced the launch of a new Lloyd’s of London consortium it will lead that is designed to provide insurance coverage for risks associated with the transit and storage of lithium batteries.
Tokio Marine Teams Up with Clir to Enhance Renewable Energy Insurance in Brazil
In a strategic move geared towards strengthening its renewable energy insurance services in Brazil, Tokio Marine, a major international specialty insurer, has forged a partnership with Clir Renewables (Clir), a global market intelligence platform specialising in wind and solar energy.
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