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We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Sabre Insurance Chooses CDL’s Proteus to Facilitate Mass Market Distribution
Sabre Insurance, a prominent insurer, has chosen InsurTech company CDL as its partner for pricing and direct insurance platforms, following a formal tender process.
Amerisure Implements Guidewire’s ClaimCenter to Boost Claims Operations
Amerisure Insurance, a prominent commercial property and casualty (P&C) insurer based in Michigan, has successfully implemented Guidewire ClaimCenter on Guidewire Cloud to enhance its claims operations and provide greater value to its agency partners and policyholders.
Subsidence payouts to hit £1.9 Billion by 2023, Warns PwC
Subsidence insurance payouts are projected to surge to a staggering £1.9 billion by 2030 if the current trend of extreme heat continues, warns a recent analysis conducted by PwC.
Zurich Adds Cyber Insurance Offering for Middle Market Businesses
Zurich North America, a provider of cyber risk solutions for over a decade, has introduced a cyber insurance offering designed specifically for middle market businesses.
Malaysia’s Carsome Partners with Insurtech PolicyStreet
Automotive marketplace Carsome, based in Malaysia, has entered into a partnership with insurtech firm PolicyStreet to introduce a personal accident plan that includes coverage for car loan payments in the event of unemployment.
Blink Parametric to Double Workforce Headcount in Cork by 2025
Cork-based InsurTech company Blink Parametric has announced plans to expand its workforce by doubling its headcount in Cork by the end of 2025.
Yahoo Releases its List of the Top 10 US Travel Insurance Companies of 2023
The internet news platform Yahoo, has published its top 10 list of US travel insurers for 2023, just in time for the summer break.
Singlife Enters MOU with Microsoft to Empower Singaporean Insurtech Startups with AI
Insurtech company Singlife has entered into a Memorandum of Understanding with technology giant Microsoft to facilitate the adoption of generative artificial intelligence (AI) among high-growth insurance startups in Singapore.
AI is Reshaping the Insurance Market with Key Players Embracing Innovation
AMA Research & Media LLP has released its latest insights on Artificial Intelligence (AI) in insurance market, citing the work of key market players, including Lemonade, Snapseed, Liberty Mutual, Insurify and Clearcover.
AXA Hong Kong & Macau Partners with CoverGo to Enhance Speed to Market and Customer Experience
AXA Hong Kong and Macau (AXA) has announced its collaboration with CoverGo, a leading global no-code insurance SaaS core platform, to enhance AXA’s general insurance ecosystem in Hong Kong.
Insurtech Ondo Signs Landmark Five-Year Deal with Leading Swedish Insurer
Ondo InsurTech PLC, a prominent insurance company specialising in water damage prevention, announced the signing of a significant five-year agreement with Länsförsäkringar Trygghetstjänster (LFTT), a renowned Swedish insurance provider.
How To Innovate Faster: The Investment Plan for Success
As part of our new thought leadership series in collaboration with FintechOS, Simon Pink, UK Head of Emerging Technology for QBE Ventures, discusses the challenges currently facing the insurance industry when it comes to adopting and implementing innovation.
Aon Completes “Historic” Parametric Insurance Programme for Puerto Rico
Aon, the prominent global professional services firm, has successfully finalised a “historic” parametric insurance programme for the Government of Puerto Rico.
Tokio Marine Launches Group-Wide Intelligence Platform for Enhanced Collaboration
Tokio Marine Holdings has unveiled a new market intelligence platform that aims to improve collaboration with external companies.
GA Market Shows Resilience Amid Challenges, Reports Clyde & Co
Despite recent economic turbulence, the managing general agent (MGA) sector is poised for continued growth, according to a new report by Clyde & Co.
Rental Insurtech Steadily Raises US$28 Million in Series B Funding Round
Steadily, an online landlord insurance start-up, has successfully raised $28.5 million in a recent funding round.
UN Climate Alliance Abandons Emissions Rules for Insurers Following Member Exodus
In a significant revision of its regulations, the Net-Zero Insurance Alliance (NZIA) has eliminated all requirements for its members to establish and disclose targets for reducing greenhouse gas emissions, announced the United Nations has announced.
Five Minutes On: APIs, with Tony Grosso, Head of Growth for EIS
Tony Grosso is the Head of Growth/GWB Insurance Markets for EIS. We quizzed him on the importance of APIs in the Employee Benefits space.
Zurich Announces Strategic Partnership with Embedded Solutions Insurtech Qover
Zurich Insurance Group (Zurich) has announced a strategic partnership with Qover, an insurtech based in Belgium, as part of its efforts to expand its embedded insurance capabilities.
wefox Partners with GATE to Transform the Long-Term EV Rental Market Insurance
wefox, a global leader in the insurtech industry, has entered into an exciting new partnership with GATE (Green & Advanced Transport Ecosystem), a venture founded by Iveco Group.
Insurtech Qover Raises US$30 Million in Series C Round to Boost Growth and Profitability
Qover, a leading insurtech specialising in embedded insurance orchestration, has recently concluded a successful Series C up-round funding, securing an impressive $30 million.
Humn.ai Partners with QBE Insurance to Offer Pricing Insurance Solution to Taxi Fleets
Humn.ai has forged a partnership with QBE Insurance Group to provide its Innovative dynamic pricing insurance solution to taxi fleets
Closing the Technology Deficit Could Generate $3 Trillion in Revenue for European Companies, Reveals Accenture Report
A recent report from Accenture has highlighted the potential for European companies to generate an additional $3.2 trillion in revenue by 2024 if they close the technology deficit that exists between them and their North American counterparts.
Cyber Insurance Rates Experience 10% Drop in June, Reversing Previous Increases, says Howden
In a recent report, broker Howden revealed that cyber insurance rates have decreased by approximately 10% in June compared to the previous year.
Germania Insurance partners with Guidewire to migrate to cloud for expanded digital capabilities
Germania Insurance has announced its successful migration of their Guidewire InsuranceSuite self-managed environment to Guidewire Cloud.
Zurich’s Commitment to ESG and Innovation Results in Eight Award Wins in H1 2023
Zurich Insurance (Hong Kong) has received widespread recognition for its strong commitment to environmental, social, and governance (ESG) practices and its innovative approach to product development.
15 Insurtechs to Watch in Asia in 2023
As reports suggest that Asia is the next big global arena for insurtech growth, we’ve listed the top 15 Asian insurtechs that are driving change in the marketplace
Estafsar and Al Wataniya Forge Strategic Partnership to Drive Insurance Innovation in Egypt
In a groundbreaking move set to reshape the insurance landscape in Egypt, Estafsar, a prominant insurtech provider in Egypt, has officially announced its partnership with insurance leader Al Wataniya.
UK’s Financial Watchdog Warns of Rising Insurance Premiums and Increased Rejection of Claims
The Financial Conduct Authority (FCA) has sounded the alarm over the soaring insurance premiums that are burdening drivers and homeowners, exacerbating the cost of living crisis.
Phil Vermeulen Appointed as EY EMEIA Insurance Leader
Multinational professional services firm EY has announced the appointment of Phil Vermeulen as the EMEIA Insurance Leader.
Thai Insurtech Roojai Acquires FWD General Insurance Business from bolttech
In a significant move within the Thai insurtech industry, online insurance provider Roojai has announced its acquisition of FWD General Insurance from fellow insurtech company bolttech.
Guy Carpenter Finalises Acquisition of Israeli Insurtech Re Solutions
Guy Carpenter, a global risk and reinsurance specialist and subsidiary of Marsh McLennan, has finalised its acquisition of Re Solutions, an independent reinsurance broker headquartered in Israel
EIGHT Insurtech Funding Rounds Leading Industry Growth in June 2023
Last month, the insurtech sector saw more than 30 funding events take place globally. We’ve rounded up eight of the biggest funding events that span the insurance industry sectors.
Qover Partners with Monzo to Bring Seamless Insurance Experience
Qover has announced its partnership with Monzo to offer Premium users in the UK a new way to track and submit insurance claims within the Monzo app, making the insurance experience for its embedded travel protection seamless and user-friendly.
Zurich’s UK CEO Tim Bailey is Appointed President of ABI
Tim Bailey, the UK CEO of Zurich Insurance, has been appointed as the President of the Association of British Insurers (ABI).
Cytora Partners with Hyperexponential to Offer ‘Supersonic Underwriting’ Solution
Cytora, a leading digital risk processing platform, has joined forces with hyperexponential, a pricing decision intelligence company, to introduce “supersonic underwriting” capabilities in the commercial insurance sector.
Hong Kong-Based OneDegree Raises US$55 Million in Series B Round
OneDegree Group, a prominent digital asset insurtech leader based in Hong Kong, has successfully raised $55 million in its Series B funding round.
Insurance Penetration in the Philippines Falls to 1.75% of GDP, Reports Insurance Commission
The insurance industry in the Philippines experienced a slight decline in net income, reaching nearly P10 billion in the first quarter, primarily driven by a drop in the life insurance segment.
Corvus Insurance Implements AI Enhancements in Underwriting Platform
Leading cyber underwriter, Corvus Insurance (Corvus), has introduced new AI-driven features to its underwriting platform, aiming to enhance workflow efficiency and automate routine tasks.
R&Q Insurance Holdings Reports US$297 Million Loss for 2022
R&Q Insurance Holdings, following its recent approval for the separation of its programme management and legacy insurance units, has released its financial results for the year ending December 31, 2022.
NFP Completes Acquisition of Two Businesses in Strategic Moves
NFP has finalised the purchase of FinTrust Insurance and Benefits’ employee benefits solutions business and Presidio Financial Services Corporation, marking the latest additions to its expanding portfolio of acquisitions.
AXA Sets Environmental Targets for its Insurance Portfolio
French insurer AXA has established its first-ever environmental targets for its insurance portfolio, aiming to limit emissions of climate-warming gases associated with the vehicles and companies it covers.
Central Insurance Expands its Partnership with AI-Driven Shift Technology
Central Insurance, a leading insurance company, has expanded its partnership with Shift Technology, a provider of AI-powered decision automation and optimisation solutions for the insurance industry.
New MAPFRE Report Urges Insurance Industry to Adopt Responsible AI Practices
Global insurer MAPFRE has released a comprehensive research report urging the insurance industry to embrace artificial intelligence (AI) responsibly, safely, and reliably.
Spanish Insurtech Bdeo Raises US$8.2 Million for Expansion of AI-Powered Insurtech Visual Intelligence
Bdeo, a rapidly growing technology company specialising in Visual Intelligence for the insurance and fleet industries, has successfully raised an additional $8.2 million in funding to fuel its international expansion and solidify its position in Europe and Latin America.
Insurtech Federato Raises US$25m in Series B Led by Caffeinated Capital
Federato, an innovative Insurtech firm, introduced as the insurance industry’s premier RiskOps underwriting platform, disclosed today a successful $25m Series B fundraising round.
Cyber Insurance Market Expected to Surpass US $79.75 Billion by 2030
The cyber insurance market expected to surpass US$79.75 billion by 2030, fueled by increasing cyber attacks and risk awareness
Insurtech Candid Rebrands as CLARK UK Following 2022 Merger
Candid, the rapidly expanding life insurance and protection company in the UK, has announced its transformation into CLARK UK.
Afreximbank Launches AFREXInsure, a Subsidiary to Support Intra-Africa Trade
Afreximbank, the export-import bank has introduced its wholly-owned insurance management services subsidiary, AFREXInsure.
ServiceNow and Guidewire join forces to revolutionise the insurance experience
ServiceNow, an enterprise cloud computing company, and Guidewire, an InsurTech provider, have come together to enhance insurance experiences.
Expert.ai Unveils AI Platform to Drive NLP-Driven Intelligent Process Automation
Expert.ai, the industry leader in AI-powered language solutions, has announced the launch of their highly anticipated expert.ai Platform for Insurance.
Insurtech Raincoat Raises US$6.5 Million to Invest in Financial Resiliency in the Wake of Climate Disaster
Raincoat, a startup developing scalable climate insurance solutions that enable instantly processed individual claims, today announced the closing of an additional $6.5 million seed round bringing its total raised to date to $11 million.
Cost-Of-Living Crisis Causes Sharp Increase in Insurance Fraud, says LFED
Insurance fraud has witnessed a sharp increase of 61% amid the ongoing cost of living crisis, according to new figures released by the City of London Police’s Insurance Fraud Enforcement Department (IFED).
Blink Parametric Partners with CPP Italy and Europ Assistance Italy
Blink Parametric has announced a strategic partnership with CPP Italy and Europ Assistance Italy.
Innovative Risk Labs Enters Lloyd’s Market with Three Insurtech Clients
Innovative Risk Labs (IRL) has made a significant entry into the prestigious Lloyd’s market, marking a major milestone for the insurtech firm.
Lemonade Launches Captive Cell in Bermuda
Insurtech Lemonade has announced the establishment of a captive cell in Bermuda.
Rnwl Launches ‘Instant Quotes’ Feature to Simplify Insurance Buying Process
London, UK – Rnwl, a groundbreaking insurtech company dedicated to streamlining insurance purchase and management, has introduced its latest feature, ‘Instant Quotes,’ as the first in a series of innovative product line enhancements.
Reask and InsurTech MGA Kettle Form Partnership to Offer Parametric Hurricane Reinsurance
Reask, a prominent ClimateTech company specialising in natural hazard modelling, has recently announced a strategic partnership with InsurTech MGA Kettle.
LEADERSHIP SPOTLIGHT: Ericson Chan, Zurich’s Group Chief Information & Digital Officer, Talks Innovation, Trends & Talent
Insurtech Insights talks to top CIDO and financial technology leader Ericson Chan, who shares his unique perspective on the future of insurtech
Accelerant Secures $150 Million in Funding Led by Barings LLC, Valuation Hits $2.4 Billion
Atlanta-based insurance company Accelerant has successfully raised $150 million in a recent funding round led by Barings LLC, a global investment firm owned by MassMutual.
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