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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.
Why agencies should leverage tech to retain clients
Times are tough, many things cost more. Replacement costs are rising, supply chain issues are slowing claims resolution, and premiums are increasing. Insurance agencies have a challenge on their hands, facing many concerns from customers.
Singapore insurance broker eazy and Sgcarmart.com announce strategic partnership
eazy Pte Ltd, a leading broker for insurance services, is proud to announce a strategic partnership with Sgcarmart.com, the leading online marketplace for new and used cars in Singapore.
New aviation reinsurer arrives
Alternative investment manager Castlelake has created Itasca Re Limited, a reinsurer that will offer insurance financing solutions to commercial aircraft assets owners and buyers.
SunLife and Swiss Re’s iptiQ launch digital ‘over 50s’ life insurance solution in the UK
SunLife, part of Phoenix Group, and iptiQ, Swiss Re’s digital B2B2C insurer launch an innovative life insurance product for UK-based customers aged 50 years and above. The new solution runs on a digital end-to-end platform and accelerates claims processing with customer-focused features.
LEADER BANK LAUNCHES NEW SUBSIDIARY, LEADER INSURANCE LLC
Leader Bank, N.A. is excited to announce the launch of its new subsidiary, Leader Insurance LLC, in an effort to streamline the home buying process for its clients by providing property, auto, and umbrella insurance policies.
nsKnox Raises $17 Million From Link Ventures
nsKnox, the global leader in Bank Account Validation and B2B Payment Security, announced today a new funding round of $17 million, bringing its total funding to date to $35.6M.
Turkey’s largest fintech Papara drives expansion with launch of insurance products
Papara, the market-leading Turkish fintech, today announces the launch of its insurance arm, bringing affordable, fair and fast insurance to users in Turkey.
At-Bay Launches New Admitted Cyber Insurance Product for Small Businesses
At-Bay, the leading insurance provider for the digital age, today announced the launch of a new admitted cyber insurance product.
Idelic Launches Idelic Insurance Agency for Fleets Seeking an Innovative Approach to Lowering Risk
Idelic Inc, an insurtech solution, launches new insurance agency offering for commercial auto fleets using Idelic’s Safety Suite® and Driver Safety Playbooks.
New York Life Names CEO and President Craig DeSanto Chairman of the Board
DeSanto succeeds current Chair Ted Mathas who retired as New York Life’s CEO last year after serving in the role for 14 years.
Liberate kickstarts launch of P&C platform with $7m raise
Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7m in funding and launched its platform
Swiss Re appoints new group chief investment officer
Swiss Re has announced its appointment of Velina Peneva (pictured) as group chief investment officer.
Liberty Mutual considers $1 billion Latin America sale
Liberty Mutual Holding Co. is exploring a sale of its Latin America businesses as part of the US insurer’s divestment plans from non-core markets, according to people with knowledge of the matter.
Arthur J. Gallagher & Co. Acquires First Ireland Risk Management Limited
Arthur J. Gallagher & Co. today announced the acquisition of Dublin, Ireland-based First Ireland Risk Management Limited (“First Ireland”). Terms of the transaction were not disclosed.
Groundbreaking Insurtech Company FloodFlash Officially Launches in U.S.
Company poised to advance the U.S. flood insurance market with parametric technology that can quickly rejuvenate businesses and livelihoods within days of flooding
Kin Launches Home and Property Insurance in South Carolina
Kin, the direct-to-consumer home insurance company built for every new normal®, today announced its expansion into South Carolina. Kin is entering the Palmetto State to offer a seamless way for homeowners and landlords to protect their most valuable assets, despite being exposed to several risks.
Launch of NZIA Target-Setting Protocol Version 1.0
World-Leading Insurers and United Nations Launch Pioneering Target-Setting Protocol to Accelerate Transition to Net-Zero Economy.
What’s ahead for insurtech?
As we welcome the new year, it’s natural to reflect on the year that passed and look ahead to the challenges and opportunities that lie ahead, and more specifically how new technologies might impact the insurance industry. As always, we must separate the signal from the noise.
Swiss Insurtech TONI Digital Finalizes $12.5M Series B
Zurich-headquartered startup TONI Digital has secured $12.5 million in a Series B funding round.
InsurTech Ondo Signs New Contract with Topdanmark
The new contract will see Topdanmark expanding the LeakBot service to a further 20,000 customers over 18 months from March 2023.
Aviva enters growing offshore wind insurance market
Aviva has reaffirmed its commitment to sustainability by extending its renewable energy insurance offering into the growing offshore wind market.
NAIFA and WIFS Announce Stronger Partnership and Launch of Inaugural Women’s Financial Security Fly-In
The leading association for women advisors and the most influential advocacy association in the financial services industry share common interests aimed at promoting financial security for all.
ESP Logistics Technology Has 1st Closing on $5.0m Series A Round with Japan Post Group As Lead Investor
ESP Logistics Technology (ESP), a company dedicated to solving global supply chain problems through our cloud-based geospatial platform, announced that it conducted a 1st closing on its Series A financing. Japan Post Capital Co., Ltd (Japan Post Group), a company group with global logistics reach and extensive supply chain operations, led the round.
Looking Forward to 2023: Top Trends Shaping Insurance
With multiple signals to respond to involving economic, business, environmental and social factors, 2023 will demand insurers to respond by strengthening business fundamentals and foundation, while meeting the challenges of a changing market.
Insurity Launches New Analytics Feature for Sure Premium Audit
Sure Premium Audit Analytics predictive models enable carriers to find misclassifications and underwriting inconsistencies faster, improving premium auditing efficiency by 15 percent.
We Asked 7 Insurtech Leaders Where to Expect Change in 2023. Here’s What They Said
Risk and insurance trends we can expect for 2023, as predicted by leading Insurtech executives and C-suite leaders.
Cleartrip launches Pay Later, special fares and medi-cancel
In a bid to make travel more inclusive and accessible to all, Cleartrip, one of India’s fastest-growing OTA players, announced the launch of a host of customer-centric features on its platform.
Introducing Autoclaim – world’s first example of parametrics in mobile device and gadget insurance
At EIP we are passionate and laser focused upon making the claims experience for mobile device insurance quick and seamless for our customers. Now, more than ever, we’re managing our day-to-day lives through our mobile devices, be it for shopping, banking, maps or simply (and here’s a novel use!), to keep in contact.
Insurtech Joyn Insurance Announces $17.7 Million in Series A Funding Led by OMERS Ventures
Insurance technology company Joyn Insurance announced today that it exceeded its fundraising target with a $17.7 million Series A funding round led by OMERS Ventures with participation from Avanta Ventures, ManchesterStory, Cohen Circle, SiriusPoint and several private individual investors.
First Underwriting launches a new motorsport underwriting brand
First Underwriting has launched a new motorsport insurance brand called Slipstream Underwriting.
Hub International announces acquisition
Hub International has announced its acquisition of the assets of Michigan-based Grace & Porta Benefits, Inc.
Singaporean B2B BNPL player actyv.ai raises $12 million
actyv.ai, a Singapore-headquartered, category creator in the enterprise SaaS with embedded B2B BNPL and insurance space, has raised a total of $12 million as part of Pre-Series A funding round from 1Digi Ventures, Singapore, the family office of Raghunath Subramanian, Founder and Global CEO of the company.
WTW launches unique online client portal for aerospace clients
New ‘Clarity on Demand’ platform allows insurers and brokers to provide commentary on policy clauses, claims and market trends in aviation.
A win for all: how automated insurance claims enhance the customer journey
Most people will have gone through the rigmarole of making an insurance claim. Already frustrated by the incident – a burglary, a damaged vehicle, a broken device – that led to them picking up the phone and calling their insurance provider, they then have to spend time detailing the incident, passing on their personal details and waiting, sometimes for a lengthy period, to see if the claim is successful.
Earnix Names Robin Gilthorpe CEO
Earnix, a provider cloud-based intelligent real-time, dynamic pricing and rating solutions for insurers and banks, has announced it is appointing insurance and fintech industry veteran, Robin Gilthorpe, as its new Chief Executive Officer effective Feb. 1, 2023. Gilthorpe will be taking over the helm from Mr. Udi Ziv, who served as the company’s CEO during the past six years.
ZestyAI Announces Agreement with Black Knight to Deliver Powerful Property Risk and Value Insights
The Agreement Extends ZestyAI’s Presence in the Real Estate Market Following Exponential Growth in Property and Casualty Insurance.
The hidden optimisation potential in the business models of institutional investors
Four strategic objectives to generate maximum impact
With ongoing challenges such as interest rates, inflation, volatile markets, and changing requirements, institutional investors are under increasing pressure to respond proactively.
Artificial intelligence is making dramatic changes in insurance
Insurance risk managers are embracing a new technological evolution in how to predict and manage incident outcomes.
Silicon Valley exec Joe Hurd joins Lloyd’s Council
Lloyd’s has announced the appointment of Joe Hurd (pictured above) as a nominated member of the Lloyd’s Council, effective May 10. Hurd will replace John Sununu, who will step down from the council in May to focus on his new role as non-executive chair for Lloyd’s Americas.
How are Millennials Changing the Insurance Industry?
Generally tech-savvy and data-forward, millennials are shaking up the insurance industry both as consumers and insurance professionals.
Apex, Mosaic, Aon launch fund-insurance platform
Two Bermuda companies are teaming up with multinational financial services firm Aon PLC to launch Apex Protect, a company offering specialty directors and officers for funds.
InsurTech Startup Propeller Bonds Raises $6.4M in Seed Funding
The MGA will use the funds for personnel, to finish its development roadmap, expand its product base, and increase marketing and sales efforts to add agents to its ecosystem.
Choice Mutual Insurance Agency Expanding Its Business in Selling Final Expense Insurance Policy
hoice Mutual shares its total commitment to selling final expense life insurance, which is commonly referred to as burial, mortuary, incineration, and end-of-life insurance.
battleface launches Robin Assist, Travel Insurance as a Service
Travel insurance provider battleface today announced the launch of Robin Assist, a new tech-driven platform as a service. Built for insurance carriers, brokers, managing general agents (MGAs) and self-insured enterprise partners, the global API-driven insurtech platform supports travel insurance via responsive 24/7 customer service, emergency medical assistance services and claims.
DigitalOwl and RGA Form Collaborative Underwriting Technology Partnership
Today, DigitalOwl, an insurance technology company that utilizes artificial intelligence to interpret and transform medical records into a comprehensive and interactive Digital Underwriting Abstract, and Reinsurance Group of America, Incorporated (RGA), a leading global life and health reinsurer, announced a collaborative partnership designed to strengthen and streamline the underwriting process.
Cover Genius Partners with HomeToGo to Provide Embedded Protection for Short-Term Rentals
Cover Genius, the leading insurtech for embedded protection, today announced it is partnering with HomeToGo, the marketplace with the world’s largest selection of vacation rentals, to simplify the short-term rental experience with comprehensive embedded protection
Zurich and ICS launch group captive for sustainability-minded companies
Envision Re, Ltd., will bring together businesses that want to optimize their risk management programs while reducing their carbon footprint.
Gallagher Launches New Middle East Energy/Power Operation
Gallagher today announced it is launching energy and power risk services for clients in the Middle East. To lead this new practice, Gallagher has appointed Jack Wishart as Divisional Director & Head of Risk Engineering for the region. Currently Vice President, Risk Engineer, at Marsh in the UAE, he will join Gallagher in February 2023, and play a key role in expanding Gallagher’s energy and power offering.
Bolttech Partners With AIS in Thailand
International insurtech, bolttech, and Thailand’s leading mobile network operator, AIS, have partnered to deliver embedded protection services including mobile device switch and replacement services to AIS customers for the recently-launched AIS Care+ programme.
New surveys find growing confusion and concern over health care
Americans are looking at the state of their health care with an increasing degree of agitation and uncertainty, according to three new national surveys.
Core Specialty Announces Excess Liability Program with Synchronosure
Core Specialty Insurance Holdings, Inc. and its subsidiaries (“Core Specialty” or the “Company”) announced today the launch of a new excess liability program, in conjunction with Synchrono Group Inc. (“Synchronosure”). The program provides up to $5 million in excess liability coverage, attaching at $11 million and higher, to small and middle-market businesses operating within over 550 industry class codes. The program will be available nationwide on a non-admitted basis, exclusively through Synchronosure
Superscript Raises £45M in Series B Funding
Superscript, a London, UK-based insurtech startup, raised £45M in Series B funding.
AALL Insurance Expands to Chandler, AZ, Offering Bilingual Customer Service and Local Expertise
For over four decades, AALL Insurance has been helping Arizona residents find the right coverage at the best price and have expanded to serve the Chandler community.
ALLIANZ TRADE, SANTANDER CIB & TWO PARTNERED TO DEVELOP A NEW B2B BNPL SOLUTION
Allianz Trade, the world leader in trade credit insurance, Two, the pioneering business-to-business (B2B) e-commerce payments platform, and Santander Corporate & Investment Banking (CIB), one of the Top Trade Finance banks in the banking sector, have partnered to provide the first global B2B Buy Now Pay Later (BNPL) solution for large multinational corporates.
HUB INTERNATIONAL EXPANDS REAL ESTATE INSURANCE CAPABILITIES
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired The O&S Insurance Brokerage Group, Inc. and OSA Insurance Brokerage Services, LLC (collectively, OSA Insurance Brokerage Services). Terms of the transaction were not
CoverEase Partners With Ethos to Make Life Insurance Easy
CoverEase, a digital insurance broker, announced today the addition of Ethos’ life insurance to their digital offering. Ethos allows CoverEase customers the ability to instantly quote and purchase life insurance policies for up to $2 million in coverage, without a medical exam or blood test. In minutes, customers can get coverage placed starting from $7 a month.
Insurer Beazley launches first catastrophe bond for cyber threats
Lloyd’s of London insurer Beazley has launched the first cyber catastrophe bond, opening up one of the fastest-growing areas of the underwriting industry to investors as companies and governments seek to shield themselves from ransomware strikes.
Marsh McLennan Agency Acquires HMS Insurance Associates
Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced the acquisition of Hunt Valley, Maryland-based HMS Insurance Associates, Inc., one of the nation’s largest independent agencies. Terms of the acquisition were not disclosed.
3 smart home tech trends for insurers to watch
From auto telematics to using satellite imagery to assess the risk profile of homes, carriers are turning to technology to streamline offerings and operations, reduce costs, and build a better overall customer experience.
Duck Creek to acquire Imburse Payments, a modern payments platform
Strategic acquisition will add digital, out-of-the box payments capabilities to Duck Creek’s comprehensive suite of SaaS solutions for P&C and general insurers
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