All News
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.
Palantir Signs $50 Million Expansion with SOMPO Holdings
Palantir Technologies Inc. (“Palantir,” NYSE: PLTR) and Palantir Technologies Japan K.K. today announced a $50 million, five-year expansion of its work with SOMPO Holdings (“SOMPO”) and its group companies including SOMPO Japan, the company’s insurance business.
Marsh McLennan names CEO for US and Canada
Marsh McLennan (MMC) has announced new chief executives to helm its international and US and Canada divisions.
Onboarding Trends 2023: Three Ways Insurers Can Keep New Business
Onboarding can bring many challenges, but thanks to intelligent automation, there are ways to overcome them while ensuring insurers and users are protected from fraud.
Swiss Re Corporate Solutions extends PULSE & Network services to UNIQA
Swiss Re Corporate Insurance has announced that it will provide PULSE & Network to the UNIQA Group, giving UNIQA access to a single digital platform that will manage and deliver structured and compliant international programs for them.
Guardz Raises $10M in Seed Funding
Guardz, a Tel Aviv, Israel-based cybersecurity company building a safer digital world for small businesses, has launched from stealth with $10m in seed funding.
Health insurance startup Angle Health scores $58M
Health benefits company Angle Health announced it had scored $58 million in Series A funding.
Munich Re partners with CloudCover
CloudCover® is an AI-generative cybersecurity threat prevention platform, today announced the inclusion of the $1 Million Ransomware Warranty backed and insured by the Munich Re Group.
Coalition Launches New Insurance Carrier Business
Active cyber insurance provider Coalition has announced that it has launched its own full-stack insurance carrier called Coalition Insurance Company (CIC).
Allianz and Bridgestone announce Pan-European collaboration
Allianz Partners and Bridgestone EMIA have agreed to join forces to co-create new offers and services around each partner’s key areas of expertise: tyres and insurance.
WTW launches new cyber facility as ‘ransomware crisis’ continues
Broker offers up to $50m of Lloyd’s excess layer capacity, as firms continue to cite cyber risks as a top priority.
S&P predicts reinsurers will continue price momentum into 2023
There is likely to be a hard market for short-tail lines — such as real estate and property catastrophes — in global geographies in 2023, after beginning the year with decades of high price increases during the January 2023 reinsurance renewals by S&P Global Ratings, according to a published report .
Getsafe expands to France starting with home insurance
German insurtech startup Getsafe is adding a fourth market with today’s product launch. In addition to Germany, Austria and the U.K., Getsafe is now going to offer insurance products in France. The company will first offer a home insurance product.
Distribution technology: Where personal lines insurers are investing today
We say it often here at SMA – the personal lines segment frequently leads the insurance industry with deploying new innovations, particularly within distribution.
Swiss Re’s iptiQ enters distribution partnership for UK life insurance products with Candid
Candid, the UK-based insurtech (part of the Clark Group of companies), and Swiss Re’s iptiQ join forces to provide affordable and accessible life insurance solutions to UK customers. The newly launched digital-first offering is distributed through Candid’s well-established Polly and Tom brands.
Appian Releases Connected Underwriting to Equip Insurers with Speed and Precision
The prebuilt solution empowers insurers to reduce time to quote, minimize risk, improve profitability, and elevate the customer experience.
HUB INTERNATIONAL NAMES AMY HALLIBURTON CHIEF HUMAN RESOURCES OFFICER
Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, announced today Amy Halliburton has joined as Chief Human Resources Officer. Halliburton will be responsible for all HUB human resource strategic initiatives including talent acquisition and management.
Covr Partners with Smart Choice to Bring Digital Insurance Solutions to 9,500 Agencies
Covr Financial Technologies has partnered with Smart Choice to bring its digital insurance platform for independent agents, Covr Pro, to 9,500 Smart Choice agencies, allowing even more independent advisors to use Covr’s leading digital solution.
Nippon Life to Commit Further $1 Billion in Resolution Life, Following Strategic Partnership with Blackstone
Resolution Life today announced that Nippon Life Insurance Company (“Nippon Life”) has agreed to invest an additional commitment of $1 billion in Resolution Life — a leading global life and annuity insurance consolidation business — following the recently announced strategic partnership between Resolution Life and Blackstone.
Property risk intelligence provider Betterview secures funding
Betterview, an InsurTech that provides property risk intelligence, has closed a round of funding.
Aviva launches the Foundry to build Norfolk’s digital workforce
Today Aviva launches the Foundry, a Norwich based initiative dedicated to building the region’s digital workforce.
Tesla, Insurers Take Different Paths to Deal With Expensive Repairs
Tesla Inc’s electric vehicles are expensive to repair – so much so that the automaker and insurers are addressing the issue in sharply different ways.
3 insurance customer experience must-haves
The pandemic drove the insurance industry to undergo digital transformation at an unprecedented rate, as customers adapted to a fully digital experience.
Insurtech predictions for the life sector in 2023
Despite 102 million Americans self-reporting a need for life insurance, market uncertainty, layoffs, and inflation will keep many of them from taking the leap in 2023. Streamlining the purchase funnel, removing friction from the application process, and focusing on value will help carriers claim their share of a more competitive market.
Travelers Europe Names Peter McConnell Chief Financial Officer
Travelers Europe today announced that Peter McConnell has joined the company as Chief Financial Officer, succeeding Mike Gent.
Cowbell Launches “Cowbell Academy”, New eLearning Center Dedicated to Cyber Insurance
With 48% of insurance brokers and agents uncomfortable explaining cyber insurance to their clients, Academy strengthens insurance brokers’ knowledge of standalone cyber insurance
Movo Partnership acquires CCS Insurance
Movo Partnership network’s latest acquisition is that of CCS Insurance.
This is Movo’s eighth acquisition, bringing an additional £1.8m GWP and three new members of staff to the Group, whilst at the same time investing in the future of a highly regarded UK ‘heartland’ broker.
Miller overhauls business structure, introduces new divisions
Independent specialist re/insurance broker Miller has aligned its business into two divisions: Miller UK and Miller International.
Bikmo partners with Blike for custom fleet insurance for their bike leasing customers
The partnership will see a flexible commercial fleet insurance programme from Bikmo embedded with all Blike leased e-bikes for the duration of their flexible lease period, up to 36 months.
kWh Analytics launches insurance product for renewable projects with Aspen
kWh Analytics said renewable asset owners are looking for new solutions to managing and underwriting risk in recent years.
Unifiedpost and Munich Re offer flexible financing for German SMEs
Unifiedpost Group (Euronext: UPG) (Unifiedpost, the Group or the Company) announces a strategic partnership with Munich Re, acting through Talaria One DAC, to provide invoice financing to the users of Unifiedpost’s SME platform Banqup.
LTIMindtree Partners with Duck Creek and Microsoft to Build a Cloud Migration Solution for Insurers
LTIMindtree (NSE: LTIM) (BSE: 540005), a global technology consulting and digital solutions company, today announced that it has partnered with Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, and Microsoft to build a solution that will enable insurers to migrate their on-premises core systems to the cloud in a quick and efficient manner.
Safe Security and AkinovA partner to benefit businesses and investors
AkinovA, a technology enabled marketplace for the effective transfer of (re)insurance risks, has announced a partnership with Safe Security, a leading cybersecurity firm.
Allianz Partners UK appoints Marcus Latchford as new chief sales and distribution officer
Allianz Partners UK and Ireland, has today announced the appointment of Marcus Latchford as its new chief sales and distribution officer (CSO).
How insurers can navigate catastrophic weather events with data
2022 has been a year of drastic weather events; including wildfires, devastating floods and large-scale storms, such as Hurricane Ian.
Top 6 ways claims have already transformed
Insurance claims organizations are facing unprecedented combined pressures of supply chain and talent shortages, inflation, catastrophe cycles and more.
The Hanover Expands Casualty Offerings
The Hanover Insurance Group, Inc. (NYSE: THG) today announced the launch of a specialty general liability offering.
Cygnvs Raises $55M in Series A Funding
Cygnvs, a Los Altos, CA-based provider of a guided cyber crisis response platform, raised $55M in Series A funding.
New report shows the U.S. insurance industry provides inadequate coverage for climate-related disasters
Ceres, in collaboration with the ESG Initiative and Wharton Climate Center at the Wharton School, released a report today that finds U.S. climate-related disaster insurance is often inaccessible, unaffordable, or does not meet the needs of certain populations.
At-Bay Acquires Licensed P&C Insurance Carrier
At-Bay, the insurance company for the digital age, today completed the acquisition of At-Bay Specialty Insurance Company, a Delaware-domiciled excess and surplus (E&S) lines property and casualty (P&C) insurer licensed in 44 states, from XL Insurance America, Inc.
Allianz unifies renawable power team to fulfil green growth ambition
Allianz Engineering, Construction & Power (EC&P) has brought its renewable energy experts into one team, with the ambition to grow its green power portfolio.
FirstVet Partners with Fletch to Enable a Pet Insurance Marketplace
FirstVet, a leading provider in on-demand video consultations for pet parents, is partnering with Fletch to embed a pet insurance marketplace for its US users.
Dayforward Raises $25M and Acquires Commercial Travelers Life Insurance Company
The digital-first life insurance company builds on its initial successful launch with a carrier acquisition to expand nationally, bringing financial security to families with revolutionary new products and technology
Arthur J. Gallagher & Co. Acquires Remco Insurance Agencies, Inc.
Arthur J. Gallagher & Co. today announced that its subsidiary, Risk Placement Services, Inc. (RPS), has acquired Austin, Texas-based Remco Insurance Agencies, Inc. Terms of the transaction were not disclosed.
Embroker leans on data science for new product launch
Digital business insurance platform Embroker is going broader and wider with its new application, ONE.
Nick Major Joins Berkshire Hathaway Specialty Insurance as Country Manager, UK
Berkshire Hathaway Specialty Insurance (BHSI) today announced it has appointed Nick Major to the position of Country Manager, BHSI UK.
Chubb appoints head of Singapore general insurance business
Chubb has appointed Hng Keng Yoong (pictured above) as Singapore country president for general insurance operations.
Consilium Launches New FAC Reinsurance Division
Consilium, the global speciality (re)insurance broking business of the Aventum Group, today announces the launch of a new cedant driven FAC reinsurance division.
Paytient picks up $40M to put payment power in patients’ pockets
Paytient, a company that built health payment accounts, announced a $40 million series B funding round. The round raised the total funding for the provider of interest-free credit cards to $63 million.
PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
PhonePe, one of India’s largest fintech platforms, has announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.
7 ways to use insurance automation effectively in 2023
As 2022 winds down, carriers, agents, brokers and vendors in the insurance industry are thinking about what comes next.
How to attract the next generation into insurance
Creative, entrepreneurial, and rich in opportunities to improve people’s lives: these words could easily describe what it’s like to work in tech, business, or public service. But leaders argue that the same could be said of an insurance career.
Sompo International opens first UK regional office; strengthens property & casualty offering
Sompo International, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced the opening of a new office in Birmingham, England, its first in the UK outside of London.
Renewables risk managers face “new trilemma”
While renewables will remain a focus of the global energy transition, risk managers will face challenges from a “new trilemma,” according to a report by WTW.
insured.io Introduces Payment Center
insured.io, a provider of cloud-based, customer engagement solutions for the insurance industry, is pleased to announce the availability of a new payment processing feature, Payment Center, which is seamlessly integrated into the company’s Insured Portal.
AI based insurance platform launches
Founded by Nigel Lombard, Peppercorn has created the world’s first conversational AI insurance assistant. Peppercorn’s platform enables customers to benefit from a more responsive and user-friendly experience, from insurance purchase to policy adjustments.
Concirrus launches updated marine hull market model
AI insurtech Concirrus has launched the latest version of its marine hull market model, its most sophisticated marine insurance risk model to date, it claims.
Marsh announces a new UK CEO of credit specialties
Marsh has named Robert Perry as UK CEO, credit specialties, Marsh Specialty.
Aviva India Launches Aviva Signature Investment Plan
Aviva Life Insurance, India’s most trusted private life insurance company, announced the launch of Aviva Signature Investment Plan, a Unit Linked Non-Participating Individual Life Insurance Plan. The plan is crafted keeping in mind the needs of Millennial and GenX customers.
Munich Re announces partnership to bolster human rights due diligence
Global reinsurance provider Munich Re has announced that it has selected Verisk’s global risk analytics business, Verisk Maplecroft, to help it enhance human rights due diligence across its business.
Stone Ridge backs $100m retro cyber quota share for Hannover Re
Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance and insurance-linked securities (ILS), has provided US $100 million in capital to support an innovative retrocession cyber quota share arrangement for global reinsurance firm Hannover Re.
Do you have news you would like to share with the World's Largest Insurtech Community?
Please feel free to send us an email
news@insurtechinsights.com
