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.
Buckle extends rideshare insurance coverage to protect gig delivery drivers
Buckle, the inclusive tech-enabled financial services company, is protecting gig drivers by extending its signature rideshare and delivery auto insurance to those who drive in various U.S. regions for leading companies like Uber, Lyft, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, and others.
Aegon strikes deal with RGA to reinsure longevity risk in pensions
Aegon, the Dutch insurer, said on Wednesday it has struck a deal with Reinsurance Group of America (RGA) to hedge the risk that people in its Dutch pensions business will live longer than expected.
Commercial insurers are shifting their transformational tech priorities
It is difficult to imagine where digital business operations would be today if it wasn’t for the catalyst that is the pandemic. For nearly two years, businesses across industries, and especially within insurance, accelerated digital transformation plans to adapt to remote access for customers and employees.
IoT insurtech LeakBot to go public via SPAC deal
London-based leak prevention solution LeakBot has announced plans to go public via a reverse takeover with special purpose acquisition company (SPAC) Spinnaker Acquisitions.
Thimble Launches Event Insurance for Business Owners
Thimble’s event insurance will help thousands of small businesses or event planners rebound from the financial blowback of the pandemic
How Can Insurers Create a Culture of Innovation?
Building a culture of innovation doesn’t happen passively—it requires commitment and careful nurturing.
Zurich partners with AllClear and InsureandGo
The five-year deal will see Zurich provide sole underwriting capacity for UK business from 1 November, replacing previous insurer MAPFRE.
Cover Genius partners with Ryanair for embedded travel protection in the UK
Global insuretech company Cover Genius has revealed a collaboration with Ryanair airline to offer its customers comprehensive travel protection, integrated directly into the booking.
LexisNexis Risk Solutions and Shift Technology Enter Strategic Alliance
LexisNexis Risk Solutions, a leading provider of data and analytics for the insurance industry, and Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, announced today the two companies have entered a strategic alliance.
Genasys seals £12.25 million funding
London-based insurance management system provider Genasys has secured a £12.25m investment from Frog Capital, an investor in European scaleup software.
Interview Series: A conversation with Donato Genovese, CEO of Movingdots
This week we speak with Donato Genovese, CEO at Movingdots, as we discuss the future of automotive insurance, the technology powering this transformation and how insurers can embed innovation into the heart of their business.
Climate insurtech platform IBISA raises a €1.5m seed round
Rockstart, global early stage investor, announces its co-investment in IBISA, a Rockstart AgriFood portfolio company.
HealthCare.com Raises $180 Million in Oversubscribed Financing Round
HealthCare.com, a leading data-driven insurtech platform, announced today the closing of an oversubcribed $180 million Series C round led by funds managed by Oaktree Capital Management.
Nayya’s Revenue Surges 7x, Capping Milestone Year for Innovative Benefits Personalisation Company
Steep rise in revenue comes on heels of new patents & multiple awards recognizing company’s AI-powered benefits guidance platform.
Nine in 10 Insurance Leaders in Europe Say Customer Experience is the Top Driver of Digital Transformation
ISG Pulse of the Insurance Industry survey finds 42% report security vulnerabilities increasing along with digitalization
Lloyd’s chief of markets reveals focus areas for 2022
“Our overarching goal is to facilitate the Lloyd’s market to be the preeminent corporate and specialty insurance and reinsurance market in the world.” That’s how Patrick Tiernan, Lloyd’s chief of markets, introduced the Lloyd’s 2022 capital plans.
Willis Tower Watson acquires aviation broker Aerosure
Willis Towers Watson has announced the acquisition of Aerosure, an aviation industry specialist, focused on the Australia, New Zealand and Pacific Island region.
Battleface CEO: Travel Will Grow ‘Rapidly’ In 2022, And Here’s What To Do
No one knows what 2022 will bring for travelers. But if anyone has an idea, it’s Sasha Gainullin, the CEO of the travel insurance company battleface. I asked Gainullin about what lies ahead next year. Here are his predictions.
10 Insurtech Trends and Predictions for 2022
The pandemic turned everything upside down in 2020, and the dust hasn’t settled yet. Will 2022 mark a return to normal life? Don’t bet on it! Expect the changes we’ve seen to continue accelerating innovation and technology in all aspects of insurance. Here are 10 key trends and predictions to watch in 2022.
Insurtech sector continues to draw capital, investors
A robust supply of capital combined with growing ranks of new investors is driving record investment into the insurtech sector.
Coalition Launches Captive to Accelerate its Growth in Cyber Insurance
Coalition, the world’s largest commercial insurtech provider, today announced it will launch a new captive to begin taking risk on its cyber insurance programs. With this captive, Coalition will enhance its ability to manage capacity and its long-term growth objectives while further aligning incentives with its customers.
As Digitising Increases, So Does Fraud Risk
Insurers have offered some level of digital capabilities for sales and service for years, but customers’ and distributors’ adoption has been slow.
Indonesian insurtech Fuse gets $25M Series B extension to expand further in Southeast Asia
Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. The startup has closed three funding rounds of Series B within the past six months, bringing the company’s total raised to over $70 million.
COVID-19 triggers sharpest rise in life insurance payouts since 1918 flu epidemic
Life insurers paid out more than $90 billion in death benefits at the height of the COVID-19 pandemic last year, the highest single-year rise since the 1918 influenza epidemic, data from the American Council of Life Insurers (ACLI) has revealed.
Twelve Capital and Eos Venture Partners launch insurtech fund strategy
Twelve Capital Management, the Zurich-headquartered catastrophe bond, insurance-linked securities (ILS) and reinsurance linked investment fund manager, is expanding its strategies to include insurtech investments with the help of a new collaboration with specialist insurtech investor Eos Venture Partners.
Chubb names Fran O’Brien as Deputy Chief Risk Officer
Chubb has announced the appointment of Fran O’Brien to the position of Deputy Chief Risk Officer.
No-Code Platforms Key to Meeting Insurance Industry Challenges
Leveraging a no-code platform can help insurance carriers remain competitive in a challenging operating environment, by enabling efficiencies and allowing insurers to build future-proof digital applications.
Verisk’s Sequel launches new distribution solution
Insurance software specialist, Sequel a Verisk Business, has announced the development of a new solution designed to simplify the distribution of standalone products and delegated authority business.
How technology can help insurers evolve, manage risk
In 2021, the insurance industry reckoned with the broad impact of the COVID-19 pandemic. Appropriately, 2022 will need to be the year that agencies and carriers pivot from reacting and surviving to implementing new strategies for success.
Tesla Charges Into Auto Insurance Market
Tesla CEO Elon Musk may be able to maneuver around the business world pretty well, but when it comes to challenges that are auto insurance-specific, there may be some hiccups along the way.
Could the insurance industry help trigger a new wave of nature-based solutions?
What should you do if a forest-based carbon offset project you have invested in burns down? This is not simply a dystopian hypothetical question. It has already happened in the U.S. and it is expected to become a more common occurrence as climate-induced wildfire risks increase in the coming decades. But could a potential answer to this problem be to simply “make an insurance claim”?
The (in)convenient truth about insurance claims
The insurance sector is notoriously low touch. There are arguably only four key customer journeys: taking out a policy, renewal, making a claim and cancellation. Customers tend to only hear from their insurer once or twice each year, and these are usually dull, administrative interactions. Then it’s radio silence until it’s time to renew again.
Zurich launches complex casualty unit for upper middle market
Zurich North America has announced the creation of a complex casualty unit to support customers in the upper middle-market segment.
Toyota Insurance Management Solutions launches Toyota Auto Insurance
Automaker’s exclusive insurance agency establishes first branded product.
Creating the ‘freemium’ insurance experience – In conversation with Pierangelo Campopiano, CEO of Smile Direct
This week, we spoke with Pierangelo Campopiano, CEO of Smile Direct, about the possibilities offered up by fundamentally reimagining insurance distribution. We discuss digital ecosystems, gameification of insurance and the potential for ‘freemium’ insurance products.
Bright Health raises $750 million
Shares in the Bloomington-based health insurer jumped Tuesday on news that the venture capital unit of health insurance giant Cigna is a new investor.
Equitable and Bestow Partner to Launch Digital Term Life Insurance Offering
Life insurance technology company Bestow and Equitable, a leading financial services company and principal franchise of Equitable Holdings, Inc., today announce a first-of-its-kind enterprise partnership and the launch of a new, entirely digital term life insurance offering called Term-in-10SM.
Digital disruption will accelerate in 2022
Investment in technology will ramp up in the coming year, impacting every aspect of insurance companies’ operations, from internal processes to the products and solutions they deliver to customers.
Bowring Marsh names Justine Mayhew as CEO, UK & Ireland
Re/insurance broker Marsh has appointed Justine Mayhew as CEO, UK & Ireland, of Bowring Marsh, Marsh’s international placement business.
How to work with insurtechs to maximize value, limit risk
Every day, it seems a hot, new insurtech is funded and ready to partner with insurance carriers. Insurers shouldn’t allow their risk-averse nature or concerns about a potentially difficult integration road ahead to lead them to ignore upstart insurtechs.
RSA names Ken Norgrove as CEO, UK & Intl.
RSA has appointed Ken Norgrove as Chief Executive Officer (CEO), UK & International, succeeding Scott Egan who will be leaving the business at the end of 2021.
AgentSync raises $75M for its insurance-focused API business
AgentSync this morning announced that it has closed a $75 million Series B, pushing its valuation to $1.2 billion.
The state of SPACs in insurtech
Several insurtech companies including Hippo and Metromile, amongst others, have merged with a special purpose acquisition company (SPAC) as a path to being traded publicly on stock markets. This approach became more popular in the past two years, as the COVID-19 pandemic led to companies seeking quick, efficient paths to growth.
Cyber: It’s in Everything You Do. So What Does That Mean for the Insurance Industry?
Wherever you go, whatever you do, cyber risk is always following you. From phishing attacks sent via email and opened on your phone to someone gaining access to your network using a smart appliance in your home, cyber risk is a growing and ever present risk.
Aon turns to Guidewire for cyber software integration
Re/insurance broker Aon has announced plans to implement the cyber data listening and modelling collection capabilities offered by specialist firm Guidewire.
Embracing the Human Side of the Bionic Insurer
Insurance CEOs have a big strategic challenge: successful companies of the future will look very different than they do today.
4 areas where digital twins could help insurers
In this series, we’ve been looking at the value digital twin data can bring to the insurance business. Specifically, I see there being four main areas where insurers could take advantage of digital twins to make material improvements.
Allianz Global Q&A: Cyber insurance trends
Digital Insurance spoke with Thomas Kang, the North American head of cyber technology and media for Allianz Global Corporate & Speciality about cyber insurance trends and challenges ahead for the industry.
MCI Lloyd’s Syndicate 1902 offers “innovative” infectious disease liability coverage
Underwriter specializing in liability Medical & Commercial International (MCI) has announced the launch of revolutionary Communicable Disease Liability (CDL) coverage.
Marsh unveils head of climate and sustainability insurance innovation
Marsh has announced the appointment of Ryan Bond as head of climate and sustainability insurance innovation, effective Jan. 1.
Gigacover offers employment benefits to Filipino freelancers
Gigacover, a Singapore-based fintech company that provides gig workers with access to employment benefits, announced Dec. 3 that it is expanding to the Philippines, which has a 1.5 million-strong informal workforce.
Howden to utilise hull & cargo solutions from Concirrus
International insurance broker Howden is planning to utilise the Quest Marine Hull and Quest Cargo solutions by insurtech Concirrus as part of a digital transformation program.
Chubb and Chile Insurtech Betterfly Form Partnership for LatAm Offering
Chubb is joining with insurance-tech startup Betterfly for offerings in Mexico, Colombia, Ecuador, Chile and Argentina as the companies seek to tap into under-served Latin American markets.
Qumata enters into agreement with major pan-Asian insurer AIA Group to accelerate innovative digital underwriting
Qumata (formerly known as HealthyHealth), a global company transforming the insurance industry ecosystem with a machine learning and artificial intelligence (ML/AI) underwriting solution, entered into an agreement to provide its services across Asia to AIA Group Limited.
Aon announces last mile delivery insurance program in partnership with CarrierHQ
Aon and CarrierHQ, a company providing trucking insurance, factoring, and business formation services, announced the launch of their Last Mile Delivery insurance program.
InsurTech Pressures Incumbents Personalise Customer Experience
Incumbents need to look to the latest data analytics tools and AI technology to eliminate friction and deliver exceptional customer experiences.
Chubb enhances cyber risk service offering
Chubb has expanded its cyber risk service offerings to further support all commercial clients in reducing exposures and mitigating potential losses amid an evolving cyber risk landscape.
Fiverr partners with Stride Health
Freelance services platform Fiverr is partnering with Stride Health to provide Fiverr members access to Stride’s portable benefits platform where they can access health, dental, and vision insurance.
ThreeFlow raises $45M to scale its employee benefits placement software
ThreeFlow, which provides software for insurance brokers selling employee benefits, announced today that it raised $45 million in Series B funding.
Gild insurance offerings grows with addition of Coterie Insurance to the platform
Gild Insurance, a nationally licensed, digital independent insurance agency serving the business insurance property and casualty market, has partnered with Coterie Insurance to add their small business insurance offerings to Gild Insurance’s portfolio.
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