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bolttech’s Valuation Hits US$1.6 Billion Following US$196 Million Series B Round
Embedded Insurtech bolttech has successfully raised US$196 million in its Series B funding round, putting the company’s valuation at $1.6 billion.
Cyber Attacks Are on the Rise, Due to Software Vulnerabilities, Says Beazley
Speciality insurer, Beazley has released its latest report on cyber risk – and finds software vulnerability a major cause in rising attacks.
Paymentus Launches New Guidewire Marketplace App to Enhance Insurance Transactions
Users of Guidewire Marketplace’s app BillingCenter are now able to access Paymentus’ new, Ready-For-Guidewire accelerator.
Cover Genius Partners with Volaris to Offer Low-Cost Travel Insurance Solutions
Cover Genius has announced its new strategic partnership with Volaris, the low-cost Mexican airline serving various regions including Mexico, the United States, and Central and South America.
Coalition Releases Much-Anticipated 2023 Cyber Claims Report
Coalition has unveiled its highly anticipated Cyber Claims Report for 2023. This comprehensive report sheds light on the ever-evolving landscape of cyber trends, offering valuable insights into the nature of cyber incidents.
JPMorgan and Barclays Back wefox in US$110 Million Investment Drive
Berlin-based insurtech wefox has received $55 million investment capital from banking behemoths, JP Morgan and Barclays.
LEADERSHIP SPOTLIGHT: Lee Shavel, CEO of Verisk, talks data, inflation and technology
As President and CEO of Verisk – one of the world’s leading data analytics insurtechs, Lee Shavel has taken a radical approach to company leadership since his appointment in 2017.
AXA XL Hiring Drive: Insurance Giant Expands Cyber Underwriting Teams with Ten Industry Experts
AXA XL Insurance has grown its cyber capabilities talent in Europe and Australia by adding 10 cyber underwriting experts to its teams across both regions.
Verisk Earns Place on the UK’s Best Workplaces List for the Third Consecutive Year
Leading strategic data analytics and technology insurtech, Verisk, has been listed as one of the UK’s ‘Best Workplaces’ by ‘Great Place to Work’.
Novidea’s CEO Roi Agababa talks Funding and the Future
Israeli insurtech Novidea just raised US$50 million in investment capital and is scaling fast. CEO and Founder, Roi Agababa tells us more
What Does the AI Revolution Actually Mean for the Insurance Industry?
Earlier this month, Chubb CEO Evan Greenberg blew up social media channels when he announced that the insurance giant will be rolling out AI at scale, following extensive experimentation of the technology.
AXA, Chubb, Zurich & Allianz are Leading Growth in the Specialty Insurance Market
The specialty insurance market is gaining popularity globally, and is predicted to grow at a CAGR of 10.6% from 2022 to 2031 with top players like Allianz, AXA, Chubb, and Zurich leading the expansion.
Cowbell Reveals that 90% of SMEs Underestimate the Cost of a Cyber Attack
Cyber insurance provider Cowbell has released its Cyber Round-Up: Q2 2023 report, revealing that 90% of small and medium-sized enterprise (SME) leaders underestimate the costs of a cyber incident.
Guidewire says Customer Centricity will Determine Success for Insurers in Latest Report
Insurance companies must win the hearts and minds of customers in order to remain competitive in 2023, according to a new survey by Guidewire, the insurance software provider.
STARTUP STORY: AgentSync’s Jenn Knight and Niji Sabharwal on Launching an Insurtech Unicorn
AgentSync is one of the fastest-scaling insurtechs in the US, and is bridging the gap between innovation and compliance.
Nationwide Wins Fourth, Consecutive DALBAR Customer Experience Excellence Award
Nationwide has once again demonstrated its commitment to exceptional customer service, earning its fourth consecutive DALBAR Customer Experience Excellence award.
Chubb Launches Climate+ Renewables – its First Climate Tech Insurance Solution
Chubb has announced the launch of its first climate tech insurance solution, called Climate+ Renewables.
LEADERSHIP SPOTLIGHT: Manasi Vartak, CEO and founder of Verta, Talks AI
With a PhD from MIT, data scientist, CEO and startup founder Manasi Vartak is one of the leading lights in AI software development.
Value.Space Raises US$2.2 Million in Seed Funding to Boost Insurance Satellite Technology
Insurtech startup Value.Space has secured $2.2 million in a seed funding round to expand its satellite-based technology that can detect faults in infrastructure.
LEADERSHIP SPOTLIGHT: Jim Fowler of Nationwide Talks Digital Transformation
As the Executive Vice President and CTO of Nationwide, Jim Fowler is leading the technological transition of one of the world’s largest insurance giants.
Earnix Opens New Office in Texas as Part of its Expansion Strategy
Earnix, the global provider of intelligent, composable, SaaS solutions for insurers and banks, has announced the opening of its new office in Texas.
Gradient AI Launches AI-Driven Underwriting Tool, WriteSpeed
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, has launched WriteSpeed, a turnkey solution that allows workers’ compensation insurers to rapidly leverage AI-enabled underwriting, accelerating time to value.
Verisk Partners with CCC Intelligent Solutions to Drive Innovation in P&C
Verisk Analytics, Inc. and CCC Intelligent Solutions Inc. (CCC) have announced a strategic partnership to bring new innovations to the P&C insurance claims industry.
Coalition Launches New Version of its Executive Risks Insurance Products
Coalition has launched a new version of its Executive Risks Insurance products for not-for-profit organisations.
Deloitte Expands Partnership with Google Cloud to Drive Industry Delivery of Advanced AI
Deloitte and Google Cloud have announced a significant expansion of their decade-long partnership to help bring Google Cloud’s advanced Generative AI capabilities to enterprises in every industry.
bolttech Teams up with Malaysian Retail Brand AEON to Launch New All-In-One Insurtech Product
bolttech has teamed up with the Malaysian retail brand, AEON, to launch an all-in-one protection programme called AEON SAFEGUARD.
EagleView Technologies, DroneDeploy & PrecisionHawk Leading Insurance Aerial Imaging Market
DroneDeploy, EagleView Technologies, and PrecisionHawk are some of the top key players mentioned in a new report on the Aerial Imaging in Insurance Service Market.
AIG Announces Strongest Ever General Insurance Results, Hitting US$502 Million Underwriting Income
American International Group (AIG) has announced its general insurance segment’s strongest Q1 underwriting results ever, with underwriting income hitting $502 million.
Software Leaders Guidewire, Accenture & Socotra are Driving Growth in Insurtech, says Report
The global insurance suites software market is expected to see significant growth in the coming years, according to a recent research study by AMA Research, and this is being driven by industry leaders, including Guidewire, Socotra and Accenture.
Anansi Announces Partnership with EKM for Integrated, Embedded Goods-in-Transit
Anansi has announced its partnership with EKM, the UK’s largest e-commerce platform, to integrate embedded goods-in-transit insurance and offer it to their entire network of e-commerce clients.
Chubb CEO says Third Party Litigation Funding can Work Against Society’s Interests
Chubb CEO Evan Greenberg has called for a societal and business community examination of the purpose of third-party litigation funding.
Akur8 and NEXT Insurance Partner up to Help Small Businesses
Akur8, the next generation insurance pricing solution powered by transparent machine learning, has announced its entrance into an agreement with NEXT Insurance, a leading digital insurtech company transforming small business insurance.
Zurich North America Expands US Warranty Offering for Businesses
Zurich North America, one of the largest insurance providers for franchised auto dealers in the US, has announced an expansion of its consumer warranty offering for businesses interested in providing their customers with product protection for items such as homes, appliances, and electronic devices.
Insurtech Funding is in Recovery, says New Report from Gallagher Re
Global InsurTech funding has surged by 37.6% in the first quarter of 2023, according to the latest Global InsurTech Report from Gallagher Re.
Majesco CSO, Denis Garth, is Recognised and Awarded by InsurTech Hartford
Denise Garth, Chief Strategy Officer at Majesco, has been recognised by InsurTech Hartford with the inaugural 2023 Making Waves Award.
Swiss Re Reports US$643 Million Net Income and ROE Increase of 19% Compared with Q1 2022
Swiss Re, one of the world’s largest reinsurance companies, has reported a robust Q1 net income of US$643 million, compared to a loss of $248 million for the same period last year.
Insurance Digital Wallet Platform, Marble, Raises US$4.2 Million
Marble, a digital wallet and loyalty platform for insurance, has secured $4.2m in funding from a round led by Distributed Ventures.
BrokerTech Ventures and ManchesterStory Launch US$34 Million Insurtech VC Fund
Ventures (BTV), a broker-led convening platform and accelerator program, has joined hands with InsurTech venture capital investor ManchesterStory Group to launch the BrokerTech Fund, LP.
CogniSure AI Confirms Strategic Partnership with Underwriting Efficiency Platform Innoveo
CogniSure AI, a leading provider of insurance document extraction and analytics solutions, has announced its strategic partnership with Innoveo, a market-leading no-code platform provider, to bring underwriting efficiencies and pricing accuracy to commercial insurers.
Zurich Assurance Ltd. and Pacific Life Re International Enters into US$2 Billion with YCB Pension Scheme
Yorkshire and Clydesdale Bank (YCB) Pension Scheme has entered into a US$2 billion (£1.6 billion) longevity swap arrangement with Zurich Assurance Ltd. and Pacific Life Re International Limited.
Novidea Raises US$50 Million in its Series C Round, Led by Battery Ventures
Novidea, a leading insurtech provider of a cloud-native, data-driven insurance management system, has announced that it has raised US$50 million in Series C funding.
Five Expert Minutes on AI: Hamesh Chawla, CEO of Mulberri Inc.
We spoke to Hamesh Chawla, CEO and Co-Founder of Mulberri Inc – a leading business insurance solution built for PEOs and brokers – about his views on AI.
Coalition Launches new Cyber Management Platform to Prevent Digital Risk
Coalition, the world’s first Active Insurance provider designed to prevent digital risk, has announced the release of its new cyber risk management platform, Coalition Control 2.0.
Clearspeed Announces 200% Client Growth Increase and Leadership Hires in 2023
Clearspeed, a leading provider of voice analytics technology for risk assessment in the insurance, government, and security sectors, has experienced a 200% client growth increase and key market leadership hires in 2023.
Sky Partners with Zurich to Launch New Smart Home IoT Insurance Product
Sky, the UK-based telecommunications giant, has partnered with Zurich Insurance to launch a new smart home protection service that offers customers home insurance and smart home technology worth £250 (US$311.95).
Chubb Reports 12% Rise in Q1’s Core Operating Income Despite Natural Hazard Losses
Chubb, the global insurance giant, reported a 12% rise in first-quarter core operating income, reaching US$1.84 billion.
CLARA Analytics Launches new AI Platform for General Liability Claims
CLARA Analytics, a leading provider of artificial intelligence (AI) technology for casualty insurance claims optimisation based in Silicon Valley, has launched its award-winning claims AI platform for general liability claims.
Verisk Launches XactXpert to Revolutionise Property Claims Estimate Review
Verisk, the global data analytics and technology provider, has announced the launch of XactXpert, a new rules engine integrated into its Xactimate property estimating solution.
Sayata Launches First Online Platform to Provide Multiple Miscellaneous Professional Liability Quotes
Sayata, has announced the addition of Miscellaneous Professional Liability (MPL) coverage to the Sayata platform.
Fisher Asset Management Reveals New Acquisition in Resideo Technologies
Fisher Asset Management Reveals New Acquisition in Resideo Technologies, Inc. as reported to the Securities & Exchange Commission.
Glia Launches AI-Powered Voice Virtual Assistant Solution
Glia, a leading provider of Digital Customer Service (DCS), has unveiled a voice banking solution for the Glia Interaction Platform.
CHUBB CEO Reveals Insurance Giant is Preparing to Roll Out AI at Scale
Insurance leader Chubb is preparing to roll out AI tools at scale, according to CEO Evan Greenberg.
Zurich Reveals Strong Financial Position Following Release of Financial Condition Report 2022
Zurich Insurance Group has released its Financial Condition Report 2022, confirming the Group’s strong financial position and sturdy balance sheet.
MAPFRE Releases Q1 2023 Results Showing Robust Growth Across Regions
MAPFRE, the Spanish multinational insurance company, based in Majadahonda, Madrid, has released its Q1 2023 results, revealing strong premium growth in the first quarter of the year, despite market challenges.
S&P Forecasts P&C Rate Increases and Reduced Reinsurance Use by Insurers in 2023
According to S&P analysts, North American P&C insurers are expected to experience underwriting profitability this year.
EY partners up with EIS Group Inc to Launch Cloud-Native Digital Insurance Platform
Ernst & Young LLP (EY US) has teamed up with the global digital insurance platform provider, EIS Group Inc (EIS), to implement EIS’ cloud-native digital insurance platform for clients in the insurance industry.
AIG Announces Launch of New Independent MGA Following Agreement with Private Equity Firm, Stone Point Capital
AIG, the multinational insurance corporation, has announced the formation of a new independent managing general agent (MGA) called Private Client Select Insurance Services (PCS).
Companies Poorly Prepared for Pending AI Regulatory Requirements, Verta Study Reveals
The vast majority of companies that will need to implement AI regulations over the next few months, are not adequately prepared to carry them out, new data reveals.
Clearcover Teams with Experian to Deliver an Embedded Insurance Solution
Clearcover, the digital-first car insurance company, has deepened its relationship with Experian’s auto insurance shopping solution to deliver a seamless embedded car insurance experience
InnSure Awarded US$6.5 Million to Fund Climate Risk Innovation
InnSure, a mission-driven nonprofit that aims to combat climate change by harnessing the power of the insurance industry, has been awarded $6.5 million by the New York State Energy Research and Development Authority (NYSERDA) to fund insurance innovators who are developing products and solutions to address climate risk challenges.
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