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Lincoln Announces Partnership with Empathy
Lincoln Financial Group has announced the launch of new grief support services for Group Life beneficiaries, providing care beyond the claims process.
Swiss Re Reports Strong Results
Swiss Re reported a profit of $996 million during Q2 of 2024, resulting in a net income of $2.1 billion and a return on equity of 20.1% for the first half of 2024. Swiss Re’s financial performance was underpinned by strong contributions from all business units, and the company maintains its full-year targets.
Pool Re Appoints Aon Securities and Howden Capital Markets as ILS Advisors
Pool Re, the UK’s foremost terrorism reinsurer, has selected Aon Securities Limited and Howden Capital Markets and Advisory as its insurance-linked securities (ILS) advisors.
Clearcover to Redefine Car Repairs Via Partnership with ServiceUp
Clearcover, a next-generation insurtech creating market-leading insurance solutions, has announced it is partnering with ServiceUp, a tech company streamlining the automotive repair process.
Skyline Insurance Selects EZLynx for Digital Transformation
Skyline Insurance has chosen EZLynx, an all-in-one agency management system from Applied Systems, to serve as the foundation for its business operations.
Verisk Offers New Offshore Monitoring Capability
Verisk Specialty Business Solutions, a leading reinsurance software specialist, has announced the launch of a new offshore renewable energy module within its exposure management system, Sequel Impact.
Jetty Announces Partnership with Socotra
Jetty, the financial services company focused on making home renting more affordable and accessible, has announced a new partnership with Socotra to enhance its insurance operations.
Life Insurers Could Help Turn the Tide on Cancer Outcomes, say Sector Leaders
Developments in the healthtech space are driving transformation in the Life insurance industry, enabling it to implement better diagnostic outcomes for patients, according to leaders from GRAIL, MassMutual and Munich Re Life and Health.
APOLLO Launches Pet Insurance Product
APOLLO Insurance, the Canadian digital insurtech and pioneer in the emerging embedded finance sector, has announced a new partnership with Petsecure to offer pet insurance to its tens of thousands of customers.
AM Best Finds Significant Uptake in Parametric Insurance
A new report from AM Best has found a surge in catastrophe bond issuance and widening spreads in early 2024, underlining the growing demand for reinsurance capacity and demonstrating marked interest in parametric-triggered reinsurance and insurance-linked securities (ILS).
Berkley Select Launches New Employment Practices Liability Coverage for Law Firms
Berkley Select, a prominent provider of professional liability insurance, has introduced a new product, AttorneyShield, expanding its employment practices liability (EPL) offerings to cater specifically to the unique needs of law firms.
Green Insurer Adds Ageas UK to Its Panel
The Green Insurer has bolstered its panel of insurers by partnering with Ageas UK, as part of its strategy to sustain competitive pricing and drive sales growth.
Startup Story: Chengchen Li on Navigating the Parental Benefits Maze Through Technology
Penguin Benefits was founded by Chengchen Li in 2020, following her own journey through the complex maze that is the parental benefits space.
Marsh Launches Industry First Shipping Port Product
Marsh, the insurance broker, risk advisor, and arm of Marsh McLennan, has launched an industry-first $50 million port blockage insurance product, covering shipping ports and terminals globally.
Synergy Cloud Announces Partnership with Claim Technology
Synergy Cloud the independent claims management system provider has announced it is partnering with Claim Technology, the no-code claims automation and customer experience platform.
Skyward Partners with Acceleration Aviation
Skyward Specialty Insurance, a leading specialty P&C insurer, has announced it is partnering with Acceleration Aviation Underwriters to provide bespoke insurance solutions to the aviation industry.
YouSet Secures $3.5 Million in Seed Funding to Transform Canadian Home and Auto Insurance
YouSet, a rapidly growing Canadian Insurtech startup, has raised $3.5 million in an oversubscribed seed funding round to further its mission of simplifying and saving money on insurance for Canadians.
Swedish Insurtech EIR Reaches Profitability Following Successful European Expansion
EIR, a leading B2B2X white-label insurtech based in Sweden and launched in 2019, has achieved two significant milestones: reaching profitability with a positive net result in June and expanding its operations into three new markets— the Netherlands, Finland, and Greece.
Aon Launches Directors and Officers Risk Analyzer to Enhance Executive Risk Management
Aon has launched its Directors and Officers (D&O) Risk Analyzer, a cutting-edge digital tool designed to help risk managers of US-listed public companies make data-driven, technology-enabled decisions to mitigate executive risks.
Cytora Partners with GeoSmart Information to Enhance Flood Risk Management for Insurers
Cytora has announced a strategic partnership with GeoSmart Information, an innovative environmental data specialist, aimed at helping insurers better manage flood risk.
Blink Parametric Launches Travel Assistance App with Gigasure
Blink Parametric has launched a new app-based travel assistance bundle in collaboration with Gigasure, marking a significant step in simplifying access to real-time travel benefits.
Mount Etna Eruption Disrupts Flights, Raises Global Insurance Concerns
Mount Etna, Europe’s tallest and most active volcano, has erupted, causing widespread disruption in Sicily. The eruption led to the temporary closure of Catania Airport, a key travel hub, after the volcano spewed ash and gasses high into the atmosphere, covering nearby towns in dark volcanic dust.
Archera Closes Successful $17 Million Series B
Archera has announced it has successfully completed a $17 million Series B Funding Round, paving the way for expansion into multi-cloud offerings, and securing access to over $100 million in reinsurance capacity.
Rokstone Establishes US Excess Casualty Division
Rokstone, the specialty (re)insurance MGA and Aventum subsidiary, has announced the appointment of Laurence Burrows as it enters the U.S. Excess Casualty division.
Previsico Finds Most Companies Unprepared for Flood Risks
A new survey from the flood forecasting and water management data company, Previsico, has shown that 54% of public sector and private companies do not currently have a flood action plan in place to deal with the increased risk of flooding.
Arch MI Secures New Indemnity Reinsurance
Arch Mortgage Insurance Company (Arch MI) has successfully obtained over $203 million in indemnity reinsurance via a transaction with Bellemeade Re 2024-1 Ltd, a special purpose reinsurer.
Igloo Expands to Philippines
Igloo, the Singaporean headquartered insurtech, has announced that it is expanding its digital platform, Ignite, to the Philippines.
Allstate to Sell Employer Voluntary Benefits Business to The Standard for US$2 Billion
Allstate has announced its decision to sell its Employer Voluntary Benefits business to The Standard for $2 billion in cash. The move is part of Allstate’s broader strategy to streamline its operations and focus on core business areas
cyan AG and Wefox Austria Announce Cyber Partnership
cyan AG, a cybersecurity provider, is partnering with Wefox Austria, a SaaS platform for insurance brokers, to launch a new offering that includes cyber protection and insurance.
Marsh Launches Carbon Capture Storage Product
Marsh has announced the launch of a new insurance product specifically tailored for the transportation and storage of carbon dioxide (CO2).
Prudential and Google Cloud Partner to Transform Insurance with AI
Prudential plc (Prudential) has announced a significant expansion of its strategic partnership with Google Cloud to develop innovative AI-powered products and applications aimed at enhancing experiences for customers, agents, and employees.
Simplifai Announces Partnership with Stillwater Insurance
Simplifai has announced it is partnering with Stillwater Insurance to automate its claims process, aiming to enhance customer service and operational efficiency.
Lockton Re partners with Ariel Re
Lockton Re, the reinsurance arm of a privately-owned independent insurance broker, has announced it is partnering with global reinsurer Ariel Re.
QuickFacts Raises $2 Million to Accelerate Software Expansion Across North America
QuickFacts, an insurtech startup dedicated to enhancing efficiency in the insurance industry, has announced the successful closure of an oversubscribed $2 million funding round.
Phyn Partners with Bamboo Insurance
Phyn, a leader in intelligent water solutions, has announced a partnership with Bamboo, a P&C insurer focused on simplicity, transparency, and savings, to protect homes from water-related losses.
Insurtech NOW Insurance Secures No. 9 Spot in Insurance on the 2024 Inc. 5000
NOW Insurance has earned the 559th position on the 2024 Inc. 5000, the annual list of America’s fastest-growing private companies.
Society Insurance Chooses Sapiens for Transformation
Sapiens International has today announced that it has been selected by the US niche insurer, Society Insurance, to streamline its financial reporting, boost efficiencies, and reduce claims leakage.
Tally Set to Close
Tally, the insurer which was founded with the mission to alleviate the burden of credit card debt, has officially shut down.
Tesla Updates Insurance with State-Specific Discounts Amid Premium Surge, Cybertruck Recall, and Zurich Partnership
Tesla is now providing state-specific discounts for policyholders in the 12 states where Tesla Insurance is available. The discounts are designed to reduce insurance costs by leveraging safety features, multi-car policies, and defensive driving courses.
HUB Completes Acquisition of Clark401k
HUB International, the global insurance brokerage and financial services firm, has announced it has completed the acquisition of Clark 401K. The terms of the deal were not disclosed.
Amwins Launches New Golf Course Insurance
Amwins, the specialty insurance distributor, has launched a new “Tees-to-Green” flood insurance programme in partnership with Floodbase and with support from highly reputable carriers.
FWD Celebrates Anniversary With 11 Charitable Grants
FWD Group has marked its 11th anniversary today by announcing eleven charitable grants dedicated to supporting local communities across the Asian continent.
RegSearch Rebrands AI Product
RegSearch, the compliance and risk management insurtech, has rebranded its AI product to better reflect the company’s values and mission.
Companion Protect Raises US$20.25 Million in Series A Extension Funding
Companion Protect, a Kansas City-based company specialising in pet insurance and wellness administration, has successfully raised $20.25 million in a Series A extension round.
Insurity Unveils New Spreadsheet API to Transform Insurance Product Development
Insurity, a leading provider of cloud-based software and analytics for insurance carriers, brokers, and managing general agents (MGAs), has introduced its latest innovation, the Insurity Spreadsheet API.
Aegis to Partner with Sentry
Aegis Professional Risk, a subsidiary of Aegis General Insurance Agency and K2 Insurance Services, has announced it is partnering with Sentry Insurance to develop and launch a new E&O programme.
INSTANDA Appoints Professor Andy Pardoe as Interim Chief AI Officer
INSTANDA, a leading global no-code insurance platform provider, has announced the appointment of Professor Andy Pardoe as its Interim Chief AI Officer. This marks the first time the company has created this role, underscoring its commitment to integrating advanced artificial intelligence into its operations.
Liberty Supports Parametric Product for Kenyan Coffee Growers
Liberty Mutual Reinsurance has announced it will be providing the capacity to support a new parametric insurance programme designed to benefit Kenyan coffee growers.
Ransomware Attacks Escalate in 2024, Resilience Reports
Cybercriminals have refined their strategies to capitalise on vulnerabilities arising from business mergers, acquisitions, and the consolidation of software vendors, according to the Midyear 2024 Cyber Risk Report by Resilience, a leading cyber risk solutions company.
John Hancock Announces Partnership with Ethos
John Hancock has announced it is partnering with Ethos to offer John Hancock Simple Term with Vitality through Ethos.
Arch Insurance Announces Partnership with Cytora
Arch Insurance, a leading global specialty insurer, has announced it is partnering with Cytora, a digital risk processing platform, to further digitise its risk intake and streamline underwriting workstreams.
hyperexponential Report Finds 96% of Underwriters and Actuaries Let Down by Pricing Technology
hyperexponential, a specialist digital pricing platform for global (re)insurers, has found that while technological advancements have opened up significant opportunities, issues with the wider ecosystem and outdated networks are hindering innovation and limiting insurers’ efficiency, profitability, and ability to foster partnerships.
ABI Finds Extreme Weather Driving Record Claims and Premium Increases
The Association of British Insurers (ABI) stated this week that extreme weather has driven property insurance payouts to a record quarterly high in the last three months, underlining the growing threat that climate change poses to homes, businesses, and the broader economy.
“Creating a culture of innovation requires new playbooks,” says MetLife’s Bill Pappas
The insurance industry is undergoing so many changes that its time to rewrite the rule book and approach innovation, talent retention and culture creation from a different perspective, according to Bill Pappas, EVP & Head of Global Technology and Operations for MetLife.
Aventum to Develop In-House AI-Underwriting Assistant
Aventum, an international (re)insurance group, has announced it is investing in the development of an innovative AI Underwriting Assistant, following the conclusion of its inaugural Bear Cave Innovation Challenge.
Hiscox Rolls Out AI-Underwriting Product
Hiscox has announced today that it is rolling out its AI-Enhanced Lead underwriting model to all London market brokers following a successful proof of concept.
Howden Acquires ActiveQuote
Howden has completed the acquisition of Health and Life Insurance broker Help Me Compare Group (which trades as ActiveQuote) and its subsidiaries, boosting Howden’s position in the UK market.
Gradient AI Raises US$56 Million in Series C Funding to Drive Innovation in Insurance Sector
Gradient AI, a leading provider of artificial intelligence (AI) solutions for the insurance industry, has raised $56.1 million in its latest Series C funding round.
Howden Announces Earthquake Partnership with Tremblor
Howden Re has announced it is partnering with Temblor Inc, a natural-disaster modelling company specialising in seismic hazard and risk assessments.
PhonePe Launches Pre Approved Term Life Insurance
PhonePe has announced the launch of a ‘pre-approved term life insurance’ feature on its platform. This new feature is designed to make insurance coverage more accessible and affordable for millions of Indians by waiving the requirement for proof of income at the time of policy purchase.
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