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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.
Moving Beyond 2020: How insurers supported their agents, partners and employees
While most insurers offered financial relief for customers, a more limited number of insurers launched financial assistance specifically for agents and partners.
Insurtech talk with Swiss Re’s Silvi Wompa Sinclair: How reinsurers can bring their underwriting into the 21st Century
This week we spoke with Silvi Wompa Sinclair, group head of portfolio underwriting at Swiss Re Institute, on modern approaches to data, cultural shifts in reinsurance and how incumbent reinsurers can forge effective partnerships with fresh players in the space.
‘Zombie’ companies likely to keep commercial insurance rates rising – Swiss RE
The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely to continue as failures increase, Swiss Re AG said on Tuesday.
Digital insurer Branch raises $50M VC round
Branch Insurance, the all-digital home and auto insurer that moved to Columbus last year, has raised $50 million in venture capital.
How to leverage data to thrive in spite of a hard market
In today’s webinar, we explored approaches to modernising underwriting, AI and machine learning solutions and how to embed data-driven solutions into the heart of insurance workflows.
Rethinking cyber insurance
Cyber insurance seems smart but risks increasing criminal behaviour and may be an unsustainable business model.
Insurance telematics: Past, present and future
Usage-based insurance (UBI) has finally come of age in the US insurance sector. Insurers have spent the last 20 years exploring the potential of telematics with alternating curiosity, commitment, and disillusionment.
Embroker, with Plan to Become Full-Stack Insurance Carrier, Raises $100M
Embroker, a digital broker focused on business insurance, aims to become a full-stack insurance carrier – an expansion of its strategy enabled by $100 million in new venture capital financing.
Improving claims solutions in the insurance industry
Insurtech providers Wilbur and BAIS are collaborating to provide improved claims solutions to the global insurance industry
Chubb names Mark Hammond as Deputy CFO
Global re/insurer Chubb has appointed Mark Hammond to the additional role of Deputy Chief Financial Officer, a newly created position.
Insurers Invest In Digital For Better Customer Experience: Capgemini And Efma
Insurance Technology Innovations are changing the face of insurance business and making it more dynamic. With the advent of latest technologies, insurers are now not far behind in providing better services and solutions to their clients.
Insurance Technology Innovations
Insurance Technology Innovations are changing the face of insurance business and making it more dynamic. With the advent of latest technologies, insurers are now not far behind in providing better services and solutions to their clients.
Aon using IoT to cover Covid-19 vaccine supply chain is ‘game changer’ says GlobalData
Aon’s specialised cargo insurance product that uses the Internet of Things (IoT) to provide supply chain cover for transporting the Covid-19 vaccine globally is a “game changer” for this line of business, according to data and analytics firm GlobalData.
Insurtech Startup Certificial Secures $5.8 Million in Series A Funding
Insurtech start-up Certificial has completed an oversubscribed $5.8mn Series A funding round with investors including IA Capital, Nationwide, Cofounders Capital, Fin VC and Cameron Ventures.
The Future Of Insurance: Fintech 50 2021
The insurtech companies featured on the 2021 Forbes Fintech 50 are innovating in a space that has long been associated with antiquated processes and practices—and lots of paper.
Digital Customer Experiences: The Future is Modular
With the proliferation of microservices and APIs, will UIs go modular too? Some technologists note a rising trend around smaller, intent-based customer experiences that more directly mirror API endpoints.
Howden introduces ‘world’s first fully sustainable insurer’
International insurance broker Howden has announced the launch of Parhelion, which Howden calls “the world’s first fully sustainable insurer.” Parhelion is targeting a capital raise of $500 million.
Duck Creek’s CSO on ‘orchestrating’ strategy
Eva Huston had an unconventional start in the insurance industry. She originally planned to use her B.S. in Foreign Service from Georgetown University to “become a diplomat and save the world,” but life had other plans for her.
Aon to sell assets for $1.4 bln to get U.S. nod for mega merger
Insurance broker Aon said it will sell some assets to private equity firm Aquiline Capital Partners and tech firm Alight for $1.4 billion, in a bid to get U.S. Department of Justice approval for its merger with Willis Towers Watson.
Canopius launches algorithmic MGA
Canopius Group has launched its algorithmic underwriting platform, Vave, as an managing general agent.
ELEMENT raises 16 million euro to accelerate growth
ELEMENT, the Berlin-based white-label provider of digital insurance solutions, has raised €16 million (US$19.5 million), in additional investment from existing and new investors.
Zurich names new Head of Strategy, Innovation & Business Development, NA
Global insurer Zurich has appointed Neeren Chauhan as Head of Strategy, Innovation & Business Development for Zurich North America.
Baloise launches new insurance solution for vehicle fleets
Baloise Group has launched ‘BaloiseFleet Motor Vehicle’, a new insurance solution that offers companies a wide range of elective options for enhanced protection for their company vehicles.
Gallagher secures new CEO for reinsurance business
There will soon be a new man at the helm of Gallagher’s reinsurance business, Gallagher Re.
Odie Pet Insurance Raises $3M in Funding
Odie Pet Insurance, a New York-based tech-enabled pet health insurance company, raised $3M in funding.
Three European Insurtech Execs Offer Their Views on a Potential Wave of European IPOs
There has been a raft of US insurtechs recently going public, leading to speculation that European insurtechs might follow suit.
How insurtech could transform the insurance industry
Data has always been of high importance to insurance companies when undertaking multiple basic functions. With digital transformation taking over, insurance technology is in the spotlight as a growth concept in the sector.
Aviva and Darwin announce five-year strategic partnership
Aviva plc and Darwin Innovation Group are pleased to announce that they are entering into a five-year strategic partnership, beginning with collaboration on an exciting autonomous vehicle trial.
U.S. Insurtech Platform Trellis Raises $10 Million Through Series A Funding Round
Trellis Technologies, Inc., a U.S.-based insurtech platform, announced on Thursday it secured $10 million through its Series A funding round, which was led by QED Investors with participation from NYCA Partners and General Catalyst.
£8m raise for Urban Jungle’s ‘team of scientists’
A company which uses data and machine learning to detect fraud and increase access to insurance has received £8m of investment from venture capitalists and private investors.
Insurtech startup Qumata banks $10M Series A
In a recent development, the insurtech startup, Qumata, announced that it has raised $10M (nearly €8.2M) in its Series A round of funding.
Euler Hermes names Sarah Murrow as CEO for UK and Ireland
Allianz-owned Euler Hermes has appointed Sarah Murrow as CEO of its UK and Ireland business, with effect from 1 June.
Insurtech startup Anorak raises €5.8 million to scale up its automated insurance companion
Anorak, a fully automated life insurance advice platform, has raised around €5.8 million on its journey to become the most innovative life insurance technology company in Europe.
Former AXA XL duo to launch Specialty Insurance Cell
Former AXA XL Executive Jonathan Beck and Underwriter Richard Spurrier are set to launch a new Specialty Insurance Cell focused on land-based and maritime Kidnap and Ransom, Fine Art, Jewellery and Classic Car risks.
Willis Towers Watson unveils cloud-based modeling solution
Global insurance brokerage Willis Towers Watson (WTW) has launched Igloo Cloud, a new cloud-based solution that offers “game-changing performance” – with virtually unlimited and flexible computing resources, scalability, and reduced operating costs.
Allstate to Acquire Insurer SafeAuto to Merge Into National General Brand
Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states.
Is Technology Changing the Insurance Industry?
The obvious answer to this question is, of course, Yes! Technology is always changing industries—always innovating, building, adapting, evolving. In this regard, the insurance industry is no different than any other.
Nayya Raises $37 Million in Series B Growth Capital
Following the launch of Nayya’s Use product, the funding will scale team growth and product innovation, helping American workers optimize their health and insurance benefits to save more money throughout the year
Novidea secures $30m Series B financing to accelerate growth
Insurtech and cloud-based platform provider Novidea has secured $30m in series B financing to support its accelerated growth.
Marsh McLennan appoints Studer as President & CEO of Oliver Wyman
Marsh McLennan has named Nick Studer as the new President and Chief Executive Officer (CEO) of international management consulting firm, Oliver Wyman Group, effective July 1st, 2021.
Creating the Next Generation of Customer Experience
In today’s digital economy, customers expect better and personalized products, round-the-clock services, and frictionless online and offline experiences. Given ever-mounting customer expectations, how can enterprises attract and retain their customers?
Bought By Many closes $350 million Series D round
As per the data from the Pet Food Manufacturers’ Association, during the pandemic crisis – in the UK alone – around 3.2 million households have bought a pet, taking the country’s total number of pets to more than 34 million. This pandemic pet boom has also impacted the pet insurance sector just like boom in sale for retailers like Pets at Home.
London insurtech startup Penfold raises £6M funding to simplify pensions
Based out of London, Penfold is a digital pension platform managed fully on your mobile phone. Recently, the company has secured £6 million in funding, £3 million of which was from a crowdfunding campaign. The funding round was led by Bridford Investments Limited.
European insurtech startup Wefox grabs $650 million at $3 billion valuation
German startup Wefox has raised a $650 million Series C funding round led by Target Global. Following this funding round, the company has reached a post-money valuation of $3 billion. Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance.
Startups to save insurance industry from Covid-19 battering
Stephen Brittain is late for a board meeting. For the first time in months, the co-founder and director at UK-based insurance technology incubator Insurtech Gateway and his team are back in the office. As a result, he’s finding himself stretched for time.
Spectrum Labs partners with Munich Re
Spectrum Labs, which provides technology to consumer internet brands to help identify toxic behavior online, is partnering with Munich Re to offer a performance guarantee for Spectrum’s AI-Based Trust & Safety system.
Everest CEO Mike Karmilowicz Talks About the Importance of Talent and the Rapid Expansion of Risk
Mike Karmilowicz of Everest Insurance shares details about his company culture, the threat of cyber and how technology will impact the insurance industry going forward.
How AI is shaking up the insurance world
Companies now have the opportunity to provide personalized, on-demand products to protect clients — without over-insuring them with unneeded policies.
Riding the digital wave
Insurance brokers and their customers live in a digital world where almost everything can be achieved online, whether it’s buying tailored computers, getting real-time assessment of current computer specifi-cations, leveraging expert advice or obtaining consumer recommendations. The consumer chooses the channel and can swap seamlessly between them throughout the life cycle.
The case for insurance loyalty programs
Insurance is infamous for having one of the highest customer acquisition costs of any industry.
Aviva UK names Adam Winslow as new CEO
London-based insurer Aviva has appointed Adam Winslow as Chief Executive Officer, UK & Ireland General Insurance.
The European insurance growth forecast
How insurers create value for their customers has changed rapidly over the past year, which means that the fundamentals of how an insurance carrier generates revenue has changed. If you want to gain an advantage as an insurer, now is the time to listen to the changing market and innovate accordingly.
The data transformation of insurance
The insurance market is facing changes in risk, regulation and customer expectation – data will be its ally.
Hippo Partners with CAPE Analytics
The insurer says CAPE’s geospatial analytics integration will deliver risk assessment and mitigation insights at faster speeds and with greater accuracy.
4 ways to enhance consumer loyalty and make your customers your greatest advocates
In our latest webinar, we discussed how to engender loyalty among your customers and give them an experience that turns them into great proponents of your company.
Corvus Welcomes New Investors With $15M Series C Financing Extension
Corvus Insurance, a leading provider of smart commercial insurance products powered by AI-driven risk data, today announced it has secured extensions to its recent Series C funding, led by venture capital firms FinTLV and Aquiline Technology Growth (ATG).
Parametrix Insurance raises $17.5 million to offer cloud downtime insurance
Insurtech is picking up steam in a big way, but startup Parametrix thinks there is still plenty of room left to innovate. The company, which today announced the close of a $17.5 million funding round, offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems.
GEICO partners with Tractable to accelerate accident recovery with AI
GEICO, the second-largest auto insurer in the US, is partnering with Tractable to accelerate its auto claim and repair process.
Allianz Insurance names new CEO – swoops for big Aviva name
There’s breaking news and then there’s “breaking” news and the announcement that Colm Holmes, currently CEO of Aviva General Insurance, will be taking over from Jon Dye as CEO of Allianz Holdings is firmly in the latter bracket.
Are Insurers Prepared for the Fully-Connected Future?
People are wired to gravitate toward ease of use, and fully connected partner ecosystems are a way insurers can deliver it.
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