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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.
Life insurance provider Ethos acquires digital wills and estate-planning startup Tomorrow
Tomorrow, a Seattle startup that helps people set up digital legal wills and trusts, has been acquired by life insurance provider Ethos, the companies announced Thursday.
Bindable Joins Guidewire Insurtech Vanguards Program
The new program identifies innovative companies within the P&C industry.
Avanza Bank Partners With Insurely to Offer Better Pensions
Insurely, founded in 2018, aspires to create win-win experiences with open data in order to make the insurance business more transparent and accessible through technological innovation.
Acceptable risk: Technology innovation in underwriting
Back in the good old days of incumbent monopoly, insurance underwriters were a revered breed. Their knowledge of specific industries like marine, agriculture, and health, meant their calculations regarding potential risk, were the difference between claims being paid or not.
InsurTech business KYND secures £3.25 million investment from BGF
KYND, a leading provider of pioneering cyber risk management solutions for the insurance industry, has today announced a £3.25 million investment from BGF.
Stoïk combines cyber insurance products with active security monitoring
Meet Stoïk, a new French startup that wants to protect small and medium companies against cybersecurity incidents.
Vertafore Names Liz Nguyen CTO
Nguyen assumes the role after a two-year tenure as Vertafore’s VP of product development.
What happened to the insurtech revolution?
High-tech companies like Israel-based Lemonade stormed Wall Street promising to reinvent the staid insurance industry, but their plummeting share prices tell a tale of disappointment.
How AI, data analytics could help identify insurance fraud
The digital insurance platform conveniently connects mortgage and real estate companies’ customers with homeowners’ and term life policies suited to their specific needs.
Bubble Launches Online Embedded Insurance ‘Insurance-in-a-Box’ for Housing Industry
The digital insurance platform conveniently connects mortgage and real estate companies’ customers with homeowners’ and term life policies suited to their specific needs.
Chubb names Pannala as Global Chief Information Officer
Chubb Limited has announced the appointment of Shekar Pannala as Vice President, Chubb Group and Global Chief Information Officer.
Movingdots Partners with Overhaul to Enhance Data Monitoring and Lower Insurance Costs for Motor Carriers
Movingdots and Overhaul are collaborating to provide motor carriers with the necessary actionable data to identify and address driver behavior.
Data-fueled Insurance Platform Accelerant Announces Growth Funding Round in Excess of $190M
Accelerant, the insurtech empowering underwriters with superior risk exchange and data analytics coupled with long-term capacity commitments, today announced it has raised in excess of $190 million at a $2 billion pre-money valuation led by Eldridge, with participation from Deer Park, Marshall Wace, MS&AD Ventures, and others.
Spotlight: How can insurers accelerate digital transformation in their business?
As customer demands change, placing greater emphasis on digital channels, insurers must consider how best to adapt their businesses and processes.
Willis Towers Watson rebrands to WTW under Hess
Willis Towers Watson is to drop its current brand in favour of the shortened WTW as CEO Carl Hess continues to make his mark on the broker around a week after formally assuming the position.
Stoïk raises $4.3 million
Meet Stoïk, a new French startup that wants to protect small and medium companies against cybersecurity incidents. The company offers an insurance product as well as a service that monitors your attack surface.
WTW launches new crisis management unit
WTW has announced the formation of a new crisis management unit with the merger of SCR and its political violence teams. The unit will sit within WTW’s Financial Solutions Global line of business and be headed by Jo Holliday, managing director of SCR.
Insurtech KYND Raises £ 3.25 million for Cyber Risk Platform
KYND, a provider of cyber risk management solutions for the insurance industry, has raised £ 3.25 million from UK and Ireland-based growth capital investor BGF.
Chubb names Julie Dillman as Digital Transformation Officer
Chubb has announced the appointment of Julie Dillman as Executive Vice President, Chubb Group and Digital Transformation Officer, effective January 1, 2022.
Cowbell Cyber launches captive insurer, Cowbell Re
AI-powered cyber insurer Cowbell Cyber has announced the launch of a new insurance captive called Cowbell Re, which will help the firm address rising demand for cyber insurance with additional capacity.
Lloyd’s and London Market Insurance Companies Tap DXC Technology to Transform the World’s Largest Insurance Marketplace
DXC Technology, Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, and the International Underwriting Association (IUA), have announced the signing of a multi-year agreement to transform the London market. The agreement has also received support from Lloyd’s Market Association (LMA).
Cyber risk landscape likely to increase during 2022
Raf Sanchez, Head of Cyber Services at Beazley has made the following prediction about the cyber insurance landscape for 2022.
MassMutual backing newly launched reinsurer
An investor group that includes Centerbridge Partners and Massachusetts Mutual Life Insurance Co. is planning to start a life and annuity reinsurance company, according to people familiar with the matter.
Travelers expands telematics offerings with IntelliDrivePlus
Travelers has expanded its telematics auto insurance offering with the launch of IntelliDrivePlus.
Israeli Cyber-Security Startup Pentera Raises $150M in Funding, Weighs IPO
Automated security validation firm Pentera, formerly called Pcysys, announced on Tuesday that it has raised $150 million in a Series C funding round at a valuation of $1 billion, making it Israel’s newest unicorn.
InsurePay secures Series B investment
Florida-based InsurePay has secured a Series B investment led by Aquiline Technology Growth with significant participation from FINTOP Capital and other strategic investors.
Swiss Re Charts $17 Billion in Litigation Funding in 2021; Is It Any Wonder We’re Experiencing Social Inflation?
With third-party litigation funding reaching $17 billion in 2021, companies and their insurers are likely to see an uptick in social inflation in the years to come.
Leveraging the Cloud Helps Insurance Service Providers Optimize Business Processes and Improve Customer Experience
The insurance industry fast-tracks technology adoption to improve customer interactions, develop competitive solutions, and optimize business processes.
Duck Creek Technologies Expands Partnership with Precisely
The data integrity solutions provider has launched a new integration with Duck Creek Policy, the tenth such integration between Precisely and the Duck Creek Platform.
Hippo Partners With Socotra to Support Hippo’s Homeowners Association (HOA) Insurance Product
Hippo Accelerates Commercial Lines Business Growth, Helping Modernize the HOA Insurance Experience.
Tryg Norway is launching a tailored EV insurance using AI optimized premiums on the world’s largest EV market
Greater Than (GREAT.ST), the insurtech using AI for pricing insurance based on real-time analyses of drivers’ accident probability, has in partnership with the Tryg A/S now tailored Tryg Sidekick to include electric vehicles.
Chubb promotes two digital-focused execs
Chubb has promoted Julie Dillman to EVP and digital transformation officer. Thomas Krupp has been promoted to her former role of SVP and global head of operations and technology.
Blink Parametric launches flight disruption cover
Travel insurtech company Blink Parametric is partnering with AwayCare to offer flight disruption cover.
Tokio Marine HCC names President of Cyber & Professional Lines Group
Tokio Marine HCC has announced the appointment of Michael Palotay as President of its Cyber & Professional Lines Group, effective January 1st.
Why the vulnerability gap matters to insurers
Sustainability is an issue of global importance, with unique implications for insurers.
Disaster claims reached $120 billion in 2021: Munich Re
Germany suffered its costliest natural disaster on record last year, as flash floods led to damages that vastly exceeded the amount covered by insurers.
Will there be more insurance brokerage consolidation in 2022?
Consolidation in the insurance brokerage space is expected to continue at a rapid pace through 2022, following a trend from the last 12 months where brokerage transactions drove the majority of announced insurance merger and acquisition (M&A) activity worldwide.
Spanish Insurtech Bdeo Partners with CAB Group to Bring Visual Intelligence to Nordic Markets
CAB Group and Bdeo recently announced that the two companies have entered into a strategic collaboration. This will allow CAB’s insurance customers in the Nordic markets to benefit from the Spanish scaleup’s technological solutions.
What is the role of litigation analysis in the insurance industry?
For decades now the insurance industry has been capitalizing on analytics to understand and predict risk when writing policies. But what if one of those disputed claims becomes a legal matter? Wouldn’t it be prudent for insurers to apply those same kinds of analytics to understand and predict legal exposure?
USAA Life Insurance Company Expands Availability of New Digital Life Insurance Product
In response to increasing interest in a simplified application process and lower prices, USAA Life Insurance Company (USAA Life) today announced its new digital life insurance product that requires no medical exam is now available in 47 states.
Insurtech: Poor Performance Of Pioneers Will Deter New Money
Disrupting a highly regulated and conservative industry was never going to be easy. Insurtech companies have attracted much less investment than peers targeting other parts of the financial sector.
MAPFRE and Tractable join forces to apply ai to auto claim adjustment in Brazil
MAPFRE, largest Spanish multinational insurance group in the world, and Tractable, which
has developed a market-leading AI-based technology solution to accelerate recovery from
accidents and disasters, are collaborating to help MAPFRE customers have their cars repaired
more efficiently, with the help of AI.
Insurtech companies in Asia – the leaders in 2022
The Asia-Pacific region’s insurtech industry predominantly consists of “less disruptive and more collaborative” start-ups complementing existing carriers rather than unconventional players seeking to unseat incumbents.
Swiss Re Corporate Solutions acquires TMS Re
Swiss Re Corporate Solutions has acquired US-based independent ESL managing general underwriter (MGU) TMS Re for an undisclosed sum.
Root taps Tractable for AI claims platform
Root Insurance, a usage-based auto insurtech, will use artificial-intelligence technology from Tractable in its claims process. The first implementation will be of Tractable’s AI Subro product for subrogation.
Can Tesla Profit From Its Insurance Business?
For most Tesla investors, electric vehicle sales are the headline numbers on the company’s balance sheet. But if CEO Elon Musk is to be believed, another part of Tesla’s business could account for a significant chunk of its profits
Parametric Insurance: Bridging or Widening the Protection Gap?
Parametric insurance products are often best incorporated into a policyholder’s insurance product portfolio as a coverage add-on to a traditional policy rather than the base cover itself.
Root Insurance partners with Tractable to streamline claims operations
Root Insurance, a leading US insurtech, will use artificial intelligence (AI) to streamline and accelerate its claims operations using Tractable’s suite of AI solutions.
Allianz completes $35bn reinsurance agreement with Resolution Life
Allianz Life has completed its previously announced reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio.
Big Changes for Insurance: Gen Z & Millennials Make Bold Moves
The Millennial and Gen Z populations desire a holistic customer experience—where digital offerings bring together other products and services to help the customer manage their lives.
McKinsey on Insurance: Connecting employee health and wealth – an Interview with CXA Group’s CEO
Rosaline Chow Koo breaks down how CXA Group is working to make group insurance more profitable while simultaneously improving employees’ health and financial well-being.
Cyber risk landscape looks set to increase in 2022
The cyber risk landscape is likely to increase during 2022, according to an expert from Beazley.
How transformational tech is changing in personal lines
Policyholders faced innumerable challenges within the past two years, resulting in unprecedented changes to their consumer behavior. Personal lines insurers responded swiftly to meet insureds’ new and evolving needs.
Corvus acquires cyber platform Tarian from Beat
Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data.
Brit appoints Bilge Mert as Chief Technology Officer
The past two years have been tumultuous, to say the least. Two things we can all agree on is that life is not as predictable as we might hope and that change can happen faster than we think. The Covid-19 pandemic posed challenges for all industries across the world and the insurance space is no different.
Escalating client demand for insurtech drives digital change in insurance industry
The past two years have been tumultuous, to say the least. Two things we can all agree on is that life is not as predictable as we might hope and that change can happen faster than we think. The Covid-19 pandemic posed challenges for all industries across the world and the insurance space is no different.
Top insurtech funding rounds, Dec. 2021
There were 30 funding rounds in the insurtech sector between Dec. 1 and Dec. 29, 2021, according to a review by Digital Insurance. What follows is a selection of the funding rounds.
3 life insurance underwriting predictions for 2022 and beyond
The life insurance and annuity industry proved resilient in 2021, even in the face of COVID-19 and the delta variant.
Singlife unveils new brand after acquisition of Aviva Singapore
Following Singlife’s acquisition of Aviva Singapore and subsequent combination of the businesses, it has launched its new brand, known as Singlife with Aviva.
Sun Life partners with Teledentistry.com to bring 24/7 dental provider access to members
Sun Life U.S. has partnered with Teledentistry.com to bring members 24/7 virtual access to dental providers, whenever, and wherever they are.
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