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Majesco Announces New Digital Payment Offering for P&C Claims Customers
Majesco, a global leader in cloud insurance platform software for insurance business transformation, has announced a new digital payment offering for its Majesco Claims for Property & Casualty (P&C) customers.
Verisk Announces Acquisition of Krug Sachverständigen GmbH
Verisk, a leading global data analytics and technology provider, has acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider.
Swiss Re Joins Forces with Benekiva to Streamline the Claims Experience
Swiss Re and Benekiva have joined forces to revolutionise the claims experience in the insurance industry with their new Integrated Claims Management Platform.
Zinnia Acquires Policygenius to Create Front-to-Back Architecture for Insurance Value Chain
Zinnia, a leading life and annuity insurance technology and digital services company, announced today its acquisition of Policygenius, a digital insurance marketplace.
Insurtech Ledgebrook Raises US$4.6 Million in latest Funding Drive
Boston-based insurtech startup Ledgebrook has successfully raised $4.6 million in a recent funding round led by Markd
CEO Spotlight: Peter Ohnemus, President & CEO of dacadoo
Peter Ohnemus has been an entrepreneur for +25 years, launching companies and solutions ranging from database technology, broadband software and software for sustainability ratings. Now he’s transforming the health insurance industry.
ITI USA President Joins Board of Advisors for FinTech Graduate Program at University of Connecticut
Megan Kuczynski, President of Insurtech Insights USA has joined the Board of Advisors for the FinTech Graduate Program at University of Connecticut (UConn).
InsurTech Funding: Five Top Investment Rounds for April 2023
Investment might be sluggish, but innovative startups with solid offerings are still attracting new capital. April 2023 saw Nayms, Capitola, YellowBird, Axle, Justos and Arma Karma attract healthy funding rounds
Direct Line Group Acquires By Miles For Undisclosed Sum
Direct Line Group, the private motor insurer, has acquired By Miles, a pay-by-mile insurance provider for an as yet, undisclosed sum.
Nayms Hits US$80 Million Valuation Following Latest Tokenized Funding Drive
Nayms, a blockchain insurance startup, has announced a successful funding round at an $80 million valuation through a private token sale.
LexisNexis Risk Solutions Strengthens Geospatial Data Suite to Tackle Rising Property Risks for UK Insurance Providers and Consumers
LexisNexis Risk Solutions, the data, advanced analytics and technology provider to the UK and Ireland insurance market, has launched a new suite of geospatial intelligence datasets for basements, trees and windstorms to address these weather-related challenges.
US-UK Insurtech Accelerator Initiative to Launch Recruitment for First Us Cohort at Hartford Symposium
The second stage of a major transatlantic collaboration that has forged insurance industry trade links and driven innovation between the US and the UK will launch at next month’s insurance event, InsurTech Hartford Symposium
ITI USA Expert Panel to Explore the Bionic Approach to Transforming Underwriting Capabilities
Insurtech Insights USA 2023 is holding an expert panel on the ‘Bionic Approach Transforming Underwriting Capabilities’ in today’s hard market, organisers have announced.
SIX Reasons Why the UK Insurance Industry Must Embrace Further Transformation this year
The UK is facing considerable upheaval over the next few months in response to financial, political and social changes, reports suggest.
INSHUR Announces Acquisition of American Business Insurance Services as part of Expansion Strategy
Global, on-demand insurance provider INSHUR, has announced its strategic acquisition of American Business Insurance Services (ABI).
Driving Change: Insurance Innovation Strategist, Peggy Klingel, Talks Ecosystems, Diversity and Disruption
Peggy Klingel is a key figure in the insurance space when it comes to driving change and adopting innovations. Insurtech Insights caught up with her to find out more.
Cowbell Launches MooGPT – a New Collection of Cyber-Capable Tools
Cowbell, the cyber insurance provider catering to small and medium-sized enterprises (SMEs), has introduced a new collection of capabilities called MooGPT, which utilises large language models and proprietary data.
12 Biggest US Auto Insurers Embracing Tech and Going Digital
The sheer established presence of the USA’s most successful automobile insurance incumbents, is impressive. The market size, measured by revenue is expected to hit US$330.4bn this year.
Hannover Re Exits United Nations-Backed Net-Zero Insurance Alliance, Citing Commitment to Own Sustainability Goals
Hannover Re, the world’s third-largest reinsurer, has announced its departure from the United Nations-convened Net-Zero Insurance Alliance (NZIA), becoming the third major name to do so in just three weeks
At-Bay is Awarded A Rating for Financial Strength, Also Announces New CFO
At-Bay, a leading cyber and technology insurance provider, has announced that AM Best has awarded At-Bay Specialty Insurance Company a Financial Strength Rating of A- (Excellent), with a “stable” outlook.
Safe Security Raises US$50 Million Series B Round for AI-Driven Platform to Manage and Mitigate Cyber Risk
Safe Security, the leader in AI-based cyber risk management SaaS platforms, today announced the close of a $50 million Series B round led by Sorenson Capital, with participation from Eight Roads, venture capital arm of Fidelity Investments, Telstra Ventures, WTI, and all existing investors.
Allianz Trade Expands XoL Services in Europe, APAC and LATAM
Allianz Trade, the world’s leading provider of trade credit insurance, is expanding its Excess of Loss (XoL) teams in Germany, Asia Pacific, Spain, and Brazil.
Pathpoint Announces Expansion of its Commercial Property Offering via Vave
Pathpoint has announced the expansion of its Commercial Property offering. The expansion centres around the addition of Vave’s commercial property product to Pathpoint.
Cover Genius report says consumers prefer CFAR protection for live event tickets or booking airfare and accommodations
A new report from Cover Genius has revealed a new customer trend. Data gleaned in the expensive study shows a strong marketplace preference for ‘Cancel for Any Reason’ (CFAR) cover when booking airfares, accommodation or event tickets.
AutoRek: Insurance firms shift to focus on operational resilience, efficiency and control
Strategic priorities in the global insurance sector are shifting as firms increase their focus on operational resilience, according to new research from AutoRek, a reconciliation and finance automation fintech
Hippo President and CEO to Speak at ITI USA 2023
Hippo President and CEO, Richard McCathron, is to speak at ITI USA 2023, confirm conference organisers
Aviva Supercharges Investment in Aviva Ventures by US$185.5 Million to Boost Innovative Startups
Aviva is increasing its investment in Aviva Ventures by US$185.5 million, with the aim of investing in early stage businesses that offer new opportunities and insights into emerging technology and customer trends.
ITI USA Expert Panel to explore Key Investment Drivers for Insurtechs in Today’s Hard Market
Insurtech Insights USA 2023 is holding an expert panel on how to attract investors in today’s hard market
Capitola Raises $15.6M in Series A Funding Round Led by Munich Re Ventures and Lightspeed Venture Partners
Capitola has announced the successful completion of its Series A funding round, raising US$15.6 million.
Lloyd’s Proposes Insuring the NHS Against Pandemic Events in Landmark Offer
Lloyd’s has met with the UK Government’s Chancellor, Jeremy Hunt, to propose a landmark offer to insure the NHS against pandemic events
EY and IBM Expand Quantum Computing Alliance
EY and IBM has announced that EY Global Services Limited will be joining the IBM Quantum Network, in a bid to further enable EY teams to explore solutions with IBM that could help resolve some of today’s most complex business challenges.
ITI USA 2023 Confirms Panel on Cyber Insurance: At-Bay, Cowbell, NFP & Mulberri included
Insurtech Insights has confirmed its expert speaker panel on ‘The Technologies Creating a Dynamic Cyber Insurance Strategy,’ which will see At-Bay, Mulberri, NFP and Cowbell leaders talk tech and innovation on the main stage
The Hanover Group Launches New CyberSecure Program for Commercial Lines Customers
The Hanover Insurance Group, Inc. has introduced its Hanover CyberSecure Program, a comprehensive set of cybersecurity services for its Commercial Lines cyber customers.
Reinsurance Sector Delivers Record-High ROE; says ACORD Quarterly Report on Global Insurance Stock Index
The reinsurance sector has delivered record-high ROE; and digital maturity strongly correlated with high insurer performance, reports ACORD
Allianz, AXA and Zurich are Winning Against Inflation Challenges, says Fitch
According to Fitch Ratings, the three major European insurance groups – Allianz, AXA, and Zurich – have effectively managed the effects of the macroeconomic environment, such as high inflation and interest rates.
Lloyds Joins BIBA as its 21st Partner and Boosts Advantages for Brokers
Lloyd’s has joined the British Insurance Brokers’ Association as its 21st partner.
4 Ways AI Can Benefit the Insurance Industry
Advancements in technology have given new life to the slow, inefficient processes common in the insurance industry, says Agentsync
LEADERSHIP SPOTLIGHT: Dax Craig, President and Co-Founder of Pie Insurance
Dax Craig talks to Insurtech Insights about founding a successful startup, creating a productive work culture and offering customers more in today’s challenging insurance market
Coalition Launches New Cyber Solution CoalitionAI Chatbot for Brokers and Businesses
The CoalitionAI dashboard is now accessible to several US brokers and will answer questions about cybersecurity best practices, cyber policy coverage options, and more
Sayata Launches At-Bay’s Admitted Cyber Insurance Solution for SMBs
Insurance marketplace Sayata, has announced the addition of At-Bay’s Admitted Cyber insurance onto its platform.
Thai Insurtech Roojai Raises US$42 Million in Series B Round
Roojai.com, a Thai insurance startup, has successfully raised $42 million in Series B funding.
Beazley Updates Primary US Public D&O Offering
Beazley has announced the updates of its primary US Public D&O offering.
Driving Diversity in Tech: Anna Brailsford, CEO of Code First Girls
Anna Brailsford, CEO and Co-Founder of Code First Girls, is transforming female representation in the tech industry by providing employment through free education.
Munich Re has announced its withdrawal GFANZ due to ‘material’ legal risks
Global reinsurers Munich Re has announced that it will leave the Net-Zero Insurance Alliance due to “material” legal risks associated with the alliance’s coordinated emissions reductions.
Zurich UK Reveals Fraudulent Property Claims Increased by 31% in 2022
Insurance industry leader, Zurich UK, has revealed fraudulent property claims increased by 31% and fake casualty claims rose by 7% in 2022.
Chubb Names Francis O’Brien as New CRO; Promotes Sean Ringsted to Chief Digital Business Officer
Chubb’s former SVP and Deputy CRO, Frances O’Brien has been promoted to the position of Executive Vice President and Chief Risk Officer (CRO) at P&C insurer Chubb, effective April 1, 2023.
AXA: Work-Related Stress is Costing UK Economy US$34 Billion a Year, says Insurance Giant
Insurance giant AXA UK has released a report that reveals that stress endured in the workplace is costing the UK US$34 billion annually.
MAPFRE’s MAWDY partners with VITTORIA ASSICURAZIONI to provide innovation in Italy
MAPFRE’s assistance division, recently renamed as MAWDY, and the Italian insurance company VITTORIA ASSICURAZIONI have reached an agreement that will provide assistance services to the Italian market.
CEO SPOTLIGHT: Richard McCathron of Hippo Insurance
Hippo’s CEO and President, Richard McCathron talks to Insurtech Insights about investment, leadership and work-life balance in today’s challenging insurance market
Anansi Partners with Wowcher; Embeds Digital Insurance into their Shipping Process
Anansi partners with Wowcher to embed digital goods-in-transit insurance into their shipping process
Sproutt Launches SmartLife for Agencies and Announces Reder Agency Acquisition
Sproutt, the life insurance company that modernises life insurance for agencies, agents, and their customers, has announced the launch of Sproutt SmartLife for Agencies.
Travel Insurtech Koala Raises US$2.1 Million in Latest Funding Round
Koala, a Paris-based insurtech startup specialising in travel insurance technology, has successfully raised US$2.1 million in a recent funding round.
Lloyds Selects 13 Insurtechs for the 10th Cohort of its Innovation Hub
Lloyd’s has unveiled the 13 insurtech firms that will participate in the 10th cohort of its innovation hub, the Lloyd’s Lab.
Insurtech Oscar Health Appoints Former Aetna Chairman as new CEO
Oscar Health, Inc., the pioneering health insurance provider powered by a comprehensive technology platform, has announced the appointment of Mark Bertolini as its new Chief Executive Officer, commencing April 3rd.
Cover Whale Partners with TrustedChoice.com to Provide Coverage to Truck Drivers
Cover Whale has announced its latest strategic partnership with TrustedChoice.com
Channelling Genius: Coalition CEO Joshua Motta Talks Career Paths, Cyber and the CIA
Joshua Motta is the founder and CEO of the cyber insurtech Coalition. At 15, he started working at Microsoft and, while still a teenager, cut his cybersecurity teeth at the CIA
US P&C Industry Experiences Net Underwriting Loss of US$26.5 Billion
According to a report by AM Best, the US P&C industry experienced a net underwriting loss of $26.5 billion in 2022.
Florida’s Flood Insurance Reforms are Approved by DeSantis
Governor Ron DeSantis of Florida has approved a legal reform bill that intends to decrease frivolous lawsuits against businesses and insurance companies.
12 Insurtech Trends Leading Market Disruption in 2023
The insurtech space is changing rapidly – and incumbents and startups alike need to keep a watchful eye on the latest trends
Insurer Zurich Experiments with ChatGPT for Claims and Data Mining
Insurance group is the latest example of a long-established business trying out AI to improve productivity
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