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Levitate Raises $15 Million Series D
Levitate, an insurer-backed innovative Happiness Platform, has successfully raised $15 million in a Series D round.
Cyber Insurance Market Poised for Innovation and Growth Following CrowdStrike Outage
The global IT outage on July 19, 2024, has triggered a significant shift in the cyber insurance sector, prompting carriers and brokers to reevaluate and accelerate their approach to innovation.
Cytora Announces Partnership with Xapien
Cytora, a leading digital risk processing platform, has announced a partnership with Xapien, an AI-powered due diligence company.
Luz Saúde Partners with HABIT to Launch LUZ ON PRIME
Luz Saúde has expanded its service portfolio with the introduction of the LUZ ON PRIME card, a new offering developed in partnership with Habit, a Portuguese startup making strides in the international digital insurance and telecommunications markets.
Merchant Insurance Chooses Kalepa to Boost Underwriting Capabilities
Merchants Insurance Group, a leading mutual insurer based in Buffalo, has selected Kalepa’s Copilot underwriting platform to significantly enhance its commercial underwriting capabilities.
Jetty Announces Partnership with Fortegra and Allianz
Jetty, a fintech startup aiming to democratise the home renting space, has announced that it is partnering with Fortegra and Allianz.
Cytora and Xapien Partner to Deliver Automated Due Diligence for Commercial Insurers
The partnership will provide insurers with AI-powered research and due diligence to enable more accurate underwriting and fraud detection
Houlihan Lokey Announces Acquisition of Waller Helms
Houlihan Lokey, the global investment bank, has agreed to acquire Waller Helms, an independent advisory firm providing investment banking services to clients in the insurance and wealth management sectors.
Cayman Islands Launches Parametric Hurricane Product
The Cayman Islands National Insurance Company (CINICO) has announced the launch of a new home insurance policy that includes Parametric Coverage.
Scamnetic Raises Funds for AI Scam Detection Solutions
Scamnetic, a startup leveraging advanced AI to protect users against a wide range of digital scams, has successfully closed a $1.35 million pre-seed funding round.
Insurtech Cresso Health Launches in US
Cresso Health, an insurtech providing sales and marketing solutions for health insurance carriers in the U.S., has officially launched today.
Chaiz Raises $2.7 Million Seed Round
Chaiz, a Texas-based marketplace for extended car warranties, has successfully raised $3.7 million in a seed funding round as it seeks to expand its coverage options.
Reinsurance Requires a Gradual Adoption of AI, say SCOR Leaders
AI can complicate rather than simplify and reinsurers should take a circumspect approach to replacing legacy processes, according to Nicholas Berg and J.C. Brueckner of SCOR
RSA Becomes First UK Insurer to Adopt Guidewire’s Cloud Solutions
RSA has launched an enhanced brokers and customer claims portal and has become the first UK insurer to adopt Guidewire’s Cloud Solutions.
AA Underwriting Extends Partnership with Percayso
AA Underwriting Ltd is enhancing its data enrichment capabilities in its motor insurance business by extending its partnership with insurance intelligence provider Percayso Inform.
LLoyd’s Rating Upgraded to A+
Lloyd’s, the world’s preeminent marketplace for insurance and reinsurance, has today announced that AM Best has upgraded its financial strength rating to A+ (Superior) from A (Excellent).
Walnut Insurance Raises CAN$4.6 Million to Transform Insurance Distribution with Embedded Technology
Walnut has announced the successful close of its latest funding round, securing CAN$4.6 million. The investment will be used to expand Walnut’s groundbreaking embedded insurance technology platform for insurers, brokers and enterprise businesses looking to participate in the future of insurance distribution.
Aon Renews Partnership with Columbia
Aon has announced it is renewing its partnership with Columbia University until 2027 to boost research on the correlation of climate risk between various perils and regions.
Pine Walk Launches Renewables MGA
Pine Walk Capital Limited, the specialist MGA platform and subsidiary of the Fidelis partnership, has today launched Novagen, a new MGA specialising in renewables.
Verisk Launches New Library and Contract Building Functionalities
Whitespace, the digitally-native e-trading platform and a Verisk subsidiary, has announced the launch of new library and contract builder capabilities which will help clients in the global (re)insurance market save time and minimise the risk of human error.
Swiss Re Finds Severe Storms Drive $60 Billion in Insured Losses
Swiss Re has estimated that a high frequency of small to medium events has resulted in global insured losses from natural disasters of $60 billion in the first half of 2024.
Demand for Better Severe Weather Coverage Soars According to Insurity Survey
Insurity, a leading provider of cloud software for insurance carriers, brokers, and managing general agents (MGAs), has released findings from its 2024 Severe Weather P&C Consumer Pulse survey, shedding light on consumer attitudes towards severe weather insurance coverage.
ZestyAI Launches Z-WATER
ZestyAI, a provider of AI-powered climate and property risk analytic solutions, has launched a new product, Z-WATER, to combat one of the leading catalysts of insurance losses: interior water.
Hub Completes Acquisition of IMC
Hub International Limited, a global brokerage and financial services firm, has completed the acquisition of Pennsylvania-based Insurance Management Company (IMC). The terms of the deal were not disclosed.
Berkshire Hathaway’s Re/Insurance Units Report US$2.3 Billion Net Underwriting Result for Q2 2024
Berkshire Hathaway, the conglomerate led by Warren Buffett, reported an 82% year-on-year increase in net underwriting earnings across its insurance and reinsurance businesses for the second quarter of 2024, totalling $2.3 billion.
Pet Business International Launches in U.S.
Pet Business International, a leading provider of instant online insurance quotes for small to medium-sized pet businesses, is launching in the US today.
Guidehealth Raises US$14 Million in Seed Funding with Support from Memorial Hermann Health System
Guidehealth announced on Tuesday that it has secured $14 million in seed funding, with major contributions from the non-profit Memorial Hermann Health System in southeast Texas, entrepreneur Sidd Pagadipati, and other healthcare investors and industry leaders.
King Insurance Partners Acquires Lincoln Insurance Group
King Insurance Partners has announced the acquisition of Lincoln Insurance Group, an independent insurance agency based in McDonough, Georgia. The acquisition aims to expand King Insurance Partners’ service offerings and strengthen its market presence.
Inscora Raises $2 Million
Inscora, a Canadian startup providing automated cyber risk assessments and sales enablement solutions to cyber insurance brokers, has successfully raised $2 million in a funding round.
Rockford Chooses Sapiens to Automate Reinsurance Programmes
Rockford Mutual Corporation has announced that it has chosen Sapiens ReinsurancePro to fully automate its reinsurance management process, aiming to maximise efficiency and mitigate costly claims leakage.
Carrot Secures Exclusive Rights for Behavioural-Based Insurance in South Korea
Carrot General Insurance, a leading South Korean insurtech firm, has secured exclusive rights from the General Insurance Association of Korea (GIAK) to implement its Behavioral-Based Insurance (BBI) system for six months.
AXA Launches Parametric Heatwave Product
AXA Hong Kong and Macau has launched a new Heatwave Parametric Insurance offering in Hong Kong, designed to protect outdoor workers against the increasing risk of rising temperatures.
Aviva Set to Enter Lloyd’s Marine Market After 200 Years.
Aviva is set to begin writing marine business in Lloyd’s beginning next year for the first time in 200 years, following Aviva’s acquisition of Lloyd’s syndicate Probitas in July.
Duck Creek Launches New Product for P&C Insurers
Duck Creek Technologies has launched Policy with Active Delivery, a new product which aims to streamline operations for property and casualty insurers.
La France Mutualiste Partners With Clearwater Analytics
Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has announced that La France Mutualiste has selected Clearwater’s advanced platform to modernise its investment operations and reporting processes.
Global On-Demand Economy Set to Soar by 2025 says New Report
INSHUR has annouced its findings from Driving the On-Demand Economy in the US, the first and only report to survey Americans who drive for on-demand rideshare and delivery apps including Uber and DoorDash.
Emerald Bay and Curotech Launch New Property Offering
Emerald Bay Risk Solutions, a cooperative underwriting carrier, has announced a partnership with Curotech Specialty, a technology-driven MGA, to launch an excess and surplus commercial property programme.
EMPOWERING INSURANCE: Belen Tokarski – President and COO of Mylo
In the latest installment of our ‘Empowering Insurance’ series, Insurtech Insights’ Joanna England talks to Belen Tokarski – the President and Chief Operating Officer of Mylo.
Geo Underwriting Acquires Navigators & General
Geo Underwriting, a part of Ardonagh Advisory, has announced it will acquire Navigators & General (N&G) from Zurich UK.
Renaissance Launches New Health Offering
Renaissance Life and Health Insurance Company has announced the expansion of its group insurance offerings with an innovative supplemental health solution.
Ambac Completes 60% Controlling Stake in Beat
Ambac Financial Group has completed the acquisition of a 60% controlling stake in London-based insurance underwriting and MGA incubation platform Beat Capital Partners.
AXA Acquires Gruppo Nobis
AXA has announced it is set to acquire Gruppo Nobis for an upfront payment of €423 million, with a potential extra earn-out of up to €55 million.
Zurich Australia Partners with Tesla
Zurich Australia has announced a partnership with Tesla to act as its preferred electric vehicle insurer for customers in Australia. Under the agreement, existing and
Major Microsoft Outage Demonstrates Escalating Cyber Risks to Global Commerce
The significant outage linked to IT giant Microsoft has caused widespread disruption, affecting banks, airlines, train companies, and media organisations – with dramatic implications for the global insurance industry as businesses worldwide report significant disruptions.
Verisk Estimates Beryl to Cost $2 Billion to $3 Billion
The Extreme Event Solutions group at Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, estimates that industry insured losses to onshore property from wind in the U.S. due to Hurricane Beryl will range between USD 2 billion and USD 3 billion.
Safe Guard Receieves New Investment
Safe-Guard Products has announced a new investment from Hellman & Friedman, a private equity firm. Founded in 1992 and based in Georgia, Safe-Guard Products is a provider of third-party private label finance and insurance protection products for the automotive, RV, marine, and powersports industries.
AEGIS Launches New Science Team
AEGIS London, the London-based Lloyd’s syndicate, has established a new data science and analytics team to enhance its underwriting capabilities and data-driven initiatives.
Juno Expands Reach with US$8.5 Million Series A Funding
Juno – the first company in the US to provide child disability insurance closes US$8.5 million Series A funding to expand reach of new core employee benefit
Lemonade Donates US$2 Million to Customer Causes in Eighth ‘2024 Giveback’
This year’s Giveback marks more than $10 million donated to 86 organisations since inception, impacting millions of people globally.
Juniper RE Partners with CAPE
Juniper Re, the reinsurance broking arm and subsidiary of The Baldwin Group, has announced a strategic collaboration with CAPE Analytics to deliver portfolio-improving property risk insights to its clients, as well as a differentiated view of the reinsurance market.
Everest Launches Mt. Logan Capital Management, Ltd.
Everest Group, the Bermuda-based (re)insurer, has unveiled a new structure for its alternative reinsurance capital business, transforming it into a multi-vehicle capital management platform through the launch of Mt. Logan Capital Management, Ltd. (MLCM).
MEET THE FOUNDER: From Battlefield to Breakthroughs, Forbes McKenzie Pioneers at MIS
In our latest series, MEET THE FOUNDER, we speak to former British Army Officer (Intelligence Corp) turned insurtech entrepreneur, Forbes McKenzie, who is a trailblazer in space and intelligence technology for the financial services and insurance industry.
Embroker Launches Specialised Real Estate Insurance Programme
Embroker, a US digital insurance company, has launched a bespoke insurance programme for real estate agents and brokers.
Insurtech Plum Launches Plum Perks
Plum, one of India’s leading insurtech platforms, has today launched Plum Perks, a comprehensively curated suite for healthcare and wellness benefits for employees.
Five Sigma Launches AI-Powered Claims Adjuster Clive™
Five Sigma, a leading AI claims management software company, has announced the launch of “Clive™”, the insurance industry’s first AI-powered Insurance Adjustment Agent.
FM Global Announces Rebrand to FM
FM Global has announced a rebranding and will now be known as “FM.” The change underscores the company’s growth and dedication to protecting its clients from business risks.
Simply Business Partners with Employers
Simply Business, a leading digital insurance broker focusing on small businesses, has today announced it is partnering with EMPLOYERS, a leading provider of workers’ compensation insurance.
Coalition Launches Specialised Security Awareness Training
Coalition has announced the launch of a new Security Awareness Training, aimed at providing small businesses with cybersecurity training and process automation. The training will simplify the rollout of security training by IT, monitor performance, and track compliance.
EPIC Acquires Century Insurance Group
EPIC Insurance Brokers and Consultants has completed the acquisition of US-based Century Insurance Group for an undisclosed sum.
Priceline and Cover Genius Forge Global Partnership to Enhance Travel Protection Services
Priceline, a pioneer in online travel services, has teamed up with Cover Genius, a leading insurtech provider, to roll out advanced travel protection solutions across North America.
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