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Pand.ai launches Singapore’s first bilingual digital insurance broker with Allianz, Etiqa and MSIG
Fintech startup Pand.ai has unveiled GINA.sg, an English-Chinese bilingual WhatsApp Chatbot that helps car owners in Singapore find the most competitive motor insurance that suits their profiles.
Zywave Acquires Insurance Distribution, Quoting Software Firm ClarionDoor
Milwaukee-based Insurance technology firm Zywave reports it has acquired Santa Barbara, Calif.-based ClarionDoor, a seller of insurance product distribution software for the property/casualty market.
Insurtech Azos raises $10 million in Series A funding to expand access to life insurance in Brazil
Azos, a digital life insurance provider increasing access to flexible and affordable life insurance products in Brazil, today announced a $10 million Series A round led by Prosus Ventures, with the participation of Kaszek Ventures, Maya Capital and Propel.
Insurers move forward with advanced analytics despite obstacles
Expanding and improving the use of advanced analytics in several aspects of operations remains high on North American property & casualty (P&C) insurers’ strategies.
AI-Powered Chatbots: A Better Experience
AI-powered chatbots pack more power than simple rule-based chatbots. As opposed to pre-programmed “if this, then that” rule-based chatbots, AI bots use algorithms and natural language processing to develop human-sounding responses and collect data to learn from each interaction, improving over time.
Zurich launches coverage suite for electric vehicles
Zurich North America has announced the launch of an enhanced suite of vehicle protection products designed for electric vehicle (EV) owners.
BizCover introduces AI chatbot Frankie
SME online insurance specialist BizCover has been piloting an artificial intelligence chatbot, Frankie, as it looks to pursue efficiencies through technology.
Swiss Re Corporate Solutions Launches Workers’ Comp for Mid-Sized Businesses
With coverage by Swiss Re Elevate, the offering initially targeting the U.S. hospitality, manufacturing, professional services, real estate and wholesale/retail segments through brokers.
Buckle Up for Telematics 2.0
For as much coverage and discussion as telematics has received over the past two decades, its impact on the auto insurance economy, including transportation, is going to be even greater and further reaching than many may have thought – it will be transformative in the fullest sense of the word.
WTW partners with software provider CodeEast on digital solution
Re/insurance broker Willis Towers Watson (WTW) and software provider CodeEast have announced a global partnership offering a new digital transformation solution for insurance companies and MGAs.
Insurtech company LeO completes $5 million Seed round
The round was led by iAngels and Menara Ventures, which will help the company expand its activities in the U.S. market.
Current cyber insurance model is ripe for change – cyber advisors
As the cyber risk environment evolves from occasional data theft to rampant extortion, cybersecurity experts believe that the current cyber insurance model – where policies are easily accessible – is ripe for a change.
How to transform claims experience
The words “insurance” and “innovation” are not typically used together. Today’s leaders are working to change that.
Willis Towers Watson enters partnership with software provider CodeEast
Willis Towers Watson (WTW) has formed a new global partnership with the Dublin-based insurance software provider CodeEast.
Future of Insurance Is Preventive
Insurers, which traditionally render services after catastrophes like earthquakes, hurricanes and wildfires, are busier than ever as climate risk becomes a genuine, dangerous possibility to many customers.
Are consumers going off digital claims?
According to Zurich’s Chief Claims Officer Ian Thompson, the company is seeing evidence that consumers are choosing to file in-person claims rather than use the digital options available to them.
Insurtech Igloo enters partnership with AhaMove
Singapore-based insurtech startup Igloo has strengthened its partnership with Vietnamese delivery firm AhaMove with the introduction of three new product offerings.
Munich Re, Spanish insurer Reale partner on automated underwriting solution
Reale Vida, the Reale Group’s Spanish insurer, has partnered with Munich Re to implement automated underwriting across its life insurance operations in Spain.
Marsh McLennan and BitSight partner to bolster cybersecurity performance
Marsh McLennan and BitSight have entered a partnership to help both organisations better understand, measure, and manage their cyber risks.
Zurich UK launches “industry-first” flood resilience drive
Zurich UK is launching what it calls an “industry-first” drive to help homeowners and businesses better protect themselves against the mounting risk of flood.
Swiss Re targets enhanced user experience with TCS partnership
Global reinsurer Swiss Re has broadened its partnership with international IT services, consulting, and business solutions organisation, Tata Consultancy Services (TCS), in an effort to drive greater collaboration and innovation across the business.
How insurtech M&A could play a role in product and service adoption
Despite seeming reluctant to make sweeping changes, the insurance industry continues to be at the forefront of adopting digital solutions.
Underwriting Management: The Core System You’ve Been Missing
When we say “core systems” in our industry, we are typically referring to the critical software applications that are core to an insurer’s business operations, mainly the policy, claims and billing management functions.
Paris-based insurtech startup Continuity bags €5 million for their AI assistant
Founded in 2019, Continuity, uses AI to help insurances improve underwriting for SME’s. The insurtech company has just bagged a funding boost of €5 million from Elaia Partners, Bpifrance, and Kamet Ventures.
Lloyd’s releases retail parametric cyclone insurance in Australia
Lloyd’s Disaster Risk Facility (DRF), an initiative with more than $445 million of notional capacity designed to help economies, has launched the first retail parametric cyclone insurance product in Northern Australia as the country awaits the cyclone season.
Full Speed Ahead: The Shape of Vehicle Risk in a Driverless World
With road testing of driverless vehicles now underway across North America, and more pilots on the horizon, it’s no wonder property and casualty insurers and industry experts are increasingly discussing the changing risk landscape.
Slide raises $100 million in Series A funding round
Homeowners insurtech Slide has announced it has raised $100 million in a Series A funding round, led by Gries Investment Funds and Tampa Bay Ventures.
Insurtech MGA Corvus Insurance Partners With CyberCube
Corvus Insurance, a leading provider of smart commercial insurance products powered by AI-driven risk data, is to use CyberCube’s Portfolio Manager to better analyse and understand cyber risk.
Insurtech startup Vesttoo raises $15 million Series B at $300 million valuation
The funding, which comes just three months after a $6 million Series A round, will drive expansion of Vesttoo’s Insurance-Linked Program (ILP) offering, a security-based investment portfolio, as well as its fully digital marketplace for insurance-based risk transfer and investments
French insurtech startup Leocare raises €110 million
French startup Leocare has raised a big Series B funding round led by Eight Roads. Overall, the company has raised $116 million. It’s an equity and debt round, which means that part of this amount is a cash-for-equity transaction, while the rest is a credit line.
Resilience raises $80mn in Series C round at $650mn valuation
Resilience, an industry leader in cyber insurance and security solutions, announced today that it closed an $80 million Series C funding round, co-led by General Catalyst and Corey Thomas of Rapid7, with participation from Lightspeed Venture Partners, Founders Fund, Charles River Ventures, Shield Capital, and Intact Ventures.
AXA XL launches Disaster Recovery Hub with Cambridge Centre for Risk Studies
AXA XL has launched a new online Disaster Recovery Hub comprised of more than 100 major disaster case studies in partnership with the Cambridge Centre for Risk Studies at Cambridge Judge Business School.
The rising tide of cyber insurance premiums in the age of ransomware
The cyber insurance industry experienced 33.5% growth in 2020 alone as companies have sought to mitigate the cyber risk presented by the new reality of the constantly growing cost of a data breach.
2022 insurance industry outlook
2021 saw widespread vaccine deployment and easing of pandemic-related restrictions—important catalysts that helped rebuild confidence among people and businesses alike, while fueling economic recovery.
Kettle raises $25M for its reinsurance platform against fire and other catastrophes
One of the most noticeable — and noted — effects of climate change has been its impact on how other events in the environment — be they natural or man-made occurrences — play out: forest fires burn more violently and for longer; floods happen more often and are more severe when they do; and so on, with climate change often cited as the main culprit for all of the catastrophes.
Descartes partners with Global Earthquake Model Foundation
Climate risk modelling insurtech Descartes Underwriting has partnered with the Global Earthquake Model (GEM) Foundation.
Aventus debuts digital underwriting platform for brokers and MGAs
Aventus has launched a digital underwriting platform for standard and complex insurance products.
Underwriting Insights: The Benefits of Man Plus Machine in a Digital World
As insurers hold onto some of the digital solutions that were adopted because of the pandemic, it’s critical to understand the balance between digital strategies and boots on the ground tactics for underwriting.
USAA’s Chief Claims Officer Joins Lemonade
Lemonade, the insurance company powered by AI and social good, today announced the appointment of Sean Burgess as Chief Claims Officer.
How to save the $3.78B insurtech market: Coretech to the rescue
The convergence of insurance and digital technology — “insurtech” — has transformed the industry. Although insurance companies initially feared insurtechs would whittle away at their market share, partnering with these disruptive tech firms is now widely seen as the catalyst necessary to spur growth and accelerate the development of new insurance products. But challenges remain.
Swiss Re & Baidu partner on autonomous driving insurance
Global reinsurance giant Swiss Re and Chinese tech giant Baidu have partnered to advance insurance and risk management for autonomous driving and autonomous vehicles.
Global insurance industry could hit new record in 2022
The global insurance industry will reach a new record in premiums by mid-2022, exceeding $7 trillion, according to a new forecast by Swiss Re Institute.
EasyHealth, a startup targeting the Medicare experience, announces $135M Series A
EasyHealth, a startup focused on navigating the Medicare experience, announced a $135 million Series A round on Thursday.
Branch partners with Nextbase Dash Cams
Nextbase Dash Cams, the world’s leading dash cam brand, and Branch, a full-stack insurance company that uses data and technology to make insurance easier to buy and less expensive, today announced a visionary partnership offering customers of both brands the chance to drive safe and save.
Cover Genius accelerates growth in India in collaboration with E-commerce marketplace Flipkart
Cover Genius, the insurtech for embedded insurance, today announced its continued growth in India with the signing of homegrown E-commerce marketplace, Flipkart.
CAPE Analytics partners with Socotra to give carriers access to property intelligence
The companies will provide joint customers with access to CAPE’s property intelligence data, powered by geospatial imagery, risk-relevant information, and machine learning.
InsurMedix Debuts Fertility Treatments Insurance Platform And Raises $65m
InsurMedix has announced it is in the final stages of closing the first tranche of $15 million finance out of a total of $65 million of the round.
Cyber is the new problem child in the insurance world
Cyberattacks and data breach topped the list as the number one current and predicted future risk globally in Aon’s recent 2021 Global Risk Management Survey.
Clinikk Raises $4 Million In Pre-Series A Round
Company plans to consolidate its full-stack product offering and increase its footprint in Bengaluru and other cities.
Nirvana Health announces $7.5M seed extension to help therapists navigate a ‘new world’ of insurance
As funding pours into mental health tech, one thing remains relatively unchanged: complex insurance billing. Now, even that medieval process is starting to attract startup interest — from companies that scan claims for errors, to others looking to simplify filing itself.
Wired for Opportunity: Why P&C Must Reinvent Itself Now
If insurers completely understand the implications of customer trends, competitive pressures, and technology leap-frogging, they will be justifiably anxious about their future—unless they prepare.
Aon and ICEYE Launch Solution to Better Manage Climate Risks in Japan
New flood solution powered by ICEYE enables insurers to reduce the cost of extreme weather events.
Customised cloud transformations offer opportunities for the insurance industry
The race for insurers to differentiate in the industry is on. As insurtechs disrupt the market and customers demand seamless, individualised experiences, insurers need to change the way they serve their clients.
Kinetic announces Kinetic Insurance in partnership with Nationwide
Kinetic, the maker of a smart wearable device and software platform designed to reduce workplace injuries, is introducing Kinetic Insurance, a new subsidiary that will act as a program manager for offering workers’ compensation insurance underwritten by Nationwide’s E&S/Specialty division.
The Hartford and Neptune Flood Launch New Climate Change Initiatives
The Hartford will invest $2.5 billion over the next five years in technologies, companies and funds advancing the transition to renewable energy and addressing climate change.
Steadily Raises $31 Million to Make Landlord Insurance Fast, Easy and Affordable
Steadily serves the 17 million individual rental property owners who collectively own the large majority of single family and small apartment rentals across the US.
Surer partners with FWD Singapore to launch a bespoke maid insurance plan
Singapore insurtech company Surer today announced a partnership with leading digital insurer FWD Singapore (“FWD”) that will see them jointly offer a bespoke maid insurance plan that allows customers to pick and choose from a list of 10 product features based on their needs.
Airbnb Adds Protection and Insurance Features With AirCover
Airbnb’s host and guest protections now include host damage protection, host liability insurance, and liability insurance for its Airbnb Experience customers.
John Hancock Expands Apple Watch Program
Today, John Hancock is expanding its Apple Watch program to offer the recently announced Apple Watch Series 7 to life insurance customers participating in the John Hancock Vitality Program, which rewards customers for the everyday things they do to live longer, healthier lives.
Flip launches on-demand injury cover
Insurtech Flip, a wholly owned subsidiary of HCF Life, says it has introduced Australia’s first on-demand injury insurance for as little as $6 a day.
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