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AXA XL appoints Marine Ress casualty CUO for Europe
AXA XL Insurance has appointed Marine Ress as Chief Underwriting Officer, Casualty, APAC & Europe, a Paris based role.
Biba launches home insurance scheme
BIBA has launched a new scheme with the Reading based insuretech OneClickCover Ltd offering members access to a highly innovative, data-driven online home insurance platform that provides customers a quote in a few seconds, using just the property address.
Taking telematics data collection to the next level
Telematics technology is a “total game changer” for the future of the auto insurance industry.
L&G Re names Amy Ellison as new CEO
The global reinsurance arm of Legal & General Group, L&G Re, has announced the appointment of Amy Ellison as its new Chief Executive Officer (CEO), succeeding Thomas Olunloyo.
Insurers have the cure to distracted driving epidemic
The pandemic introduced radical shifts in how we do our work, communicate and shop for products and services. Did it change the way we drive too?
Kohli-backed Digit Insurance soars in valuation after capital influx
Digit Insurance, backed by Indian skipper Virat Kohli, has attracted $200 million investment from existing and new investors which has helped rocket its valuation to $3.5 billion (approximately Rs 26,000 crore).
Insurers’ Own Infrastructure Could Be Text Targets of Cyber Criminals
As the “next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert.
Zurich appoints fintech founder as group chief platform officer
Zurich Insurance Group has announced the appointment of Frank Verkerk to the newly created role of group chief platform officer.
Lob and Metromile Enterprise Partner to Automate and Claims Payments
Insurance carriers can use Lob’s direct mail automation and Metromile STREAMLINE to automate claims and issue payments faster to improve customer satisfaction.
South Korean Insurtech Carrot Doubles Capital with $90 Million Rights Offering
Carrot General Insurance Corp., South Korea’s first digital-only insurance provider, announced that it has raised 100 billion won (US$88.7 million), which equals its founding capital raised in 2019.
Aon unveils new chief operating officer
Aon Plc has confirmed the appointment of James Platt as chief operating officer.
Carbon promotes Director Nick Tye to lead as CEO
Specialist managing general underwriter (MGU) Carbon has promoted Director Nick Tye to lead as Chief Executive Officer, succeeding Stephen Card in the role.
Chubb report examines what is exposing SMEs
In today’s age, the best way for many businesses to move forward is to embrace digital transformation.
3 Emerging Risks Rising Out of the Pandemic — and the Huge Impact They’ll Have for Years to Come
The pandemic has heightened financial inequality, climate change risk and the threat posed by ‘zombie’ companies.
MAPFRE Partners with Cambridge Mobile Telematics to Launch UBI Program
New MAPFRE policyholders in Massachusetts who participate in the program will receive a discount of up to 10 percent at initial enrollment.
INSHUR Fuels Growth Plans with $35m Funding Led by JVP, Viola Fintech and MTech Capital
INSHUR, a leading global Insurtech firm carving out a name for itself in commercial insurance, today announced completion of additional Series B funding, led by JVP alongside existing investors Viola Fintech, and MTech Capital. The new funding takes the total raised to $35 million.
Insurtech Startup bolttech Raises $180 Million, Valuing Firm at More Than $1B
Insurance tech startup bolttech on Thursday said it raised $180 million in a funding round, led by private investment firm Activant Capital Group, that valued it at more than $1 billion.
How to leverage next-gen apps and data to drive profitability across the insurance value chain
Thanks to digital engagement and emerging technologies like AI, IoT, and machine learning, insurers have more data than ever.
“The insurance industry is still in its infancy with regards to digitisation”: Interview with Getsafe’s CEO, Christian Wiens
There’s no doubt that COVID-19 has been a catalyst for digitisation. We’ve witnessed the rise of fintech, the explosion of edtech and the vast spread of ‘fit-tech’ to keep us moving during the quarantine. But what about the global insurance industry?
‘Inventive Insurer’ Mindset: The Need of the Hour for Property Insurers
“It was the best of times, it was the worst of times.” The introduction from Charles Dickens’ “A Tale of Two Cities” may be an apt description of today’s property insurance landscape. While numerous opportunities exist, insurers face a variety of challenges—some often unforeseen.
AutoClaims Direct partners with Attestiv
AutoClaims Direct, Inc., (ACD) an established auto claims technology and services company to the property and casualty industry, and Attestiv, Inc., a leading media authenticity platform today announced a joint collaboration to bring photo verification and fraud detection to ACD’s CLARITY technology platform.
What does the ‘Amazon’ of insurance look like?
Today we spoke with Apollo’s Jeff McCann and Berkley Canada’s Alexandra Spence about what the ‘Amazon’ insurance experience could look like – from embedded insurance to platform ecosystems, distribution is fundamentally changing.
3 Ways to Simplify Your Claims Operations
To provide clients with quicker and better service, you want to simplify your claims operations in insurance; the customer experience matters. If you want to succeed in the industry, you have to realize it’s about streamlining things for an overall satisfactory outcome for them.
SCOR gains shareholder approval for CEO changeover
SCOR received shareholder approval for all resolutions submitted at its General Meeting today, including for the separation of the roles of Chairman and CEO as Denis Kessler hands over his executive role to Laurent Rousseau.
London-based insurtech Hyperexponential closes $18M round led by Highland Europe
London-based insurtech hyperexponential (“hx”) – which has a mathematical modeling software for the commercial insurance sector – has closed an $18m funding round led by growth capital fund Highland Europe.
Bequest raises £1.7m investment to overhaul the way we prepare end-of- life admin
Bequest is creating a digital revolution in the insurance industry with the sole purpose of simplifying wills and life insurance for the millennial market.
AI enabled NOW Insurance partners with Hiscox
AI-enabled insurance platform NOW has announced a partnership with Hiscox on medical malpractice insurance policies for health care professionals on its direct-to-consumer marketplace.
Matt Connolly: Insurtech M&A takes ‘upward swing’ as pandemic bolsters digital transformation
Sønr’s chief executive predicts that insurtech M&A will double in 2021 – so far, 45 deals have been completed in the first six months of the year.
Reimagining insurance from the outside in
In the wake of COVID-19, insurance customers are looking for more than most insurers typically offer. They are looking for protection from all forms of controllable adversity.
Manulife placing big bets on digital, Asia
Manulife Financial Corp. Chief Executive Officer Roy Gori is setting a higher bar for the financial firm’s Asia operations after growing the business substantially in the past four years.
Digital E&S Broker Pathpoint Raises $30 Million
Pathpoint, a digital excess and surplus lines insurance brokerage, reported that it has raised $30 million in funding.
WTW begins digitally trading complex risks at Lloyd’s via Brit’s Ki
Re/insurance broker Willis Towers Watson has started live trading complex commercial risks after integrating its broking platform with Ki.
Acko in talks to raise $200 million, may become India’s next unicorn
Acko is in talks to raise $200 million in a new round of funding that could value the online general insurance startup at $1 billion, according to people aware of the negotiations. A successful deal will propel the startup into a fast-expanding set of newly minted Indian unicorns this year.
Top 3 Ways Carriers Can Prepare Policyholders for Catastrophic Events
Insurers lose billions each year due to losses caused by major catastrophes like earthquakes, floods and storms. In 2020 alone, Aon estimated that insured property losses from natural disasters in the U.S. climbed to around $74 billion in losses, much higher than the 10-year average.
Insurtech Leader EIS Announces Growth Investment of More than $100 Million
EIS, a core and digital platform provider for insurers, today announced a growth investment of more than $100 million from TPG, a global alternative asset firm.
France’s Covéa Reportedly Interested in Grabbing AXA XL’s Reinsurance Business
Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in deal that could be valued at €5 billion, according to press reports.
Re/insurers should reorient their thinking to become even more data led: Swiss Re’s Ian Haycock
With advancements in technology enabling carriers to leverage data in a more meaningful way, the insurance and reinsurance industry has an opportunity to refocus its thinking, derive greater insights and transform some of the inefficiencies within the business, according to Ian Haycock, Chief Data Officer at Swiss Re.
Zurich CEO: Public-private insurance schemes needed for systemic loss events
Total insured losses related to the COVID-19 pandemic in the global re/insurance industry could end up settling close to US$50 billion, according to Zurich-based PeriStrat LLC, which aggregates publicly available loss reports from insurance and reinsurance companies to analyze how COVID-19 losses are developing.
Bold Penguin announces major expansion
The Columbus insurance technology company Bold Penguin plans a major expansion that would add more than 160 jobs to its Downtown headquarters.
More young people are buying life insurance because of COVID-19
You can add another item to consumers’ pandemic shopping list: life insurance. The number of life insurance policies sold jumped 11% in the first quarter from the same time a year ago, according to the industry research firm Limra.
How insurers are divesting to shift to a digital future
The COVID-19 pandemic is accelerating the transformational trends impacting the insurance sector and highlighting the need to take bolder actions in areas such as digital capability and effective engagement to address the customer’s needs post-pandemic. Over 90% of companies in the sector report that the changing technology and competitive landscape are directly influencing their divestment plans.
Aon and Zesty.ai gain approval for AI wildfire model in California
Re/insurance broker Aon has decided to extend its strategic alliance with Zesty.ai, a tech firm that uses artificial intelligence to assess climate and non-catastrophe risk, following the approval of a new wildfire risk model in California.
Is the future of working in insurance about to change?
Jérôme Itty knows all too well the challenges of onboarding new hires in a remote work environment. “I’ve experienced it myself,” said AXA XL’s chief operating officer in the Americas.
Nationwide betting home work will prove value of digital innovations
Like major companies across the U.S., Nationwide executives in the early part of 2021 were discussing the process of repatriating some work-from-home employees to the office as the COVID-19 pandemic receded. That’s when inspiration struck.
Ping An Chairman Marks 33rd Anniversary of Group with Message: My Thoughts on the New Digitalization
Peter Ma, Chairman and founder of Ping An Insurance, marked the 33rd anniversary of the company with a reflection on the impact of digitalization on human progress and productivity.
Insurtech company WeSure boosts portfolio with $110 million acquisition of Ayalon
WeSure is buying 50.4% of insurance company Ayalon’s shares at a $216 million valuation, 33% higher than its Tel Aviv Stock Exchange market cap.
Chaucer launches $536 million consortium at Lloyd’s
Specialty reinsurance group Chaucer has announced the launch of its new Belt and Road Consortium at Lloyd’s. The consortium will initially underwrite political violence risks, with future products in development for other lines of business.
Accenture: The top trends defining insurance revenue
The insurance revenue landscape is shifting in a myriad of fast-acting, unexpected ways. In our recent Insurance Revenue Landscape 2025 study, we were able to analyze customer demands to understand the trends shaping global revenue pools. Based on this research, we predict that the insurance industry will be influenced by the following four areas of innovation.
Duck Creek Technologies Partners with Price Digests to Offer Insurers API-based Solutions
Duck Creek Technologies (DCT) has inked a partnership deal with Price Digests, a division of Informa PLC (GB:INF), to provide insurers with the most comprehensive API-integrated vehicle asset data solutions.
Bright Health IPO tests market’s desire for new insurers
Bright Health Group Inc. shares began trading on the New York Stock Exchange Thursday, the latest issue to test investors’ appetite for new health-care companies that have yet to show profit but are aiming for high growth.
“Work From Home” insurance by Nationwide
Nationwide has introduced a new package of coverage geared for those who are spending a lot more time at home these days.
How automation can drive business imperatives in the insurance industry
Automation brings in efficiency, better distribution, reduced overhead and lower latency. Therefore, routine tasks around claims processing, servicing, mail centre management, present enormous opportunities for automation.
Bold Penguin partners with IVANS Distribution Platform
IVANS Insurance Solutions has announced a partnership with commercial insurance exchange Bold Penguin. Under the partnership, Bold Penguin will connect to the IVANS Distribution Platform, a platform for commercial lines marketing and sales distribution. The connection will expand agency access to more insurers.
The value of capital has changed & re/insurers have to adapt: Swiss Re’s Mumenthaler
As capital has become more plentiful and continues to look to insurance risks, it’s no longer the main value of what carriers need to deliver in the market, which in turn has raised the importance of scale, efficiency and ownership of the client, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re.
Allstate CEO Strategy: More Independent Agents But No More ‘Human Modems’
Allstate Corp. wants to buy more independent insurance agencies this year to build the business it acquired with its purchase of National General, Allstate Chief Executive Tom Wilson told Reuters on Wednesday.
Munich Re Digital Partners CEO ‘excited’ for big leap to insurtech
Dave Brune, the founder, president and CEO of Munich Re’s Digital Partners North America, has taken on a new role in the insurtech space. Brune will use his 30 years of experience in property/casualty insurance to help Cover Genius accelerate its growth in the US, Canada and Latin American markets.
Insurance Company Accepting Crypto for Premium Payments
Universal Fire & Casualty Insurance Company (UFCIC) has become the first insurance company to accept cryptocurrency for premium payments.
Nationwide CFO Thresher to Retire; Frommeyer to Succeed Him
Longtime Nationwide Chief Financial Officer Mark Thresher plans to retire in September after 12 years in the role and 25 years with the insurer, the company announced.
Why insurtech should avoid incrementalism
It’s 2021 and fintech is more than mainstream. The neo-banks are snapping at the big banks’ heels, Robinhood traders are dominating the headlines, and more mortgages are being done online than not.
French insurtech Hoggo raises €11 million
Paris-based insurtech Hoggo has raised €11 million in a Series A funding round led by Partech with the participation of its existing investor GFC.
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