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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.
Ushur Launches AI Solution to Enhance Insurance Onboarding
Ushur, an insurtech specialising in AI-powered customer experience automation, has announced the launch of a new pre-built automation solution.
Cuvva Announces Profitability Following 2023 Fiscal Reports
London-based Cuvva, which offers short term car insurance, has shared its financial results for 2023, ending the year with a profit for the first time.
Allianz to Acquire Majority Stake in Singapore’s Income Insurance
German insurer Allianz announced on Wednesday that it plans to buy a majority stake in Singapore’s Income Insurance for around $1.6 billion, as it seeks to strengthen its position in Asia.
Cyber Warfare is an Escalating Threat in 2024, says New Report by Flow
The increasing prevalence of cyber warfare and nation-state attacks poses significant risks in 2024 and policies must evolve to address these issues, according to a new industry report by Flow.
Cytora Partners with Gamma Risk
Cytora, the leading digital risk processing company, has announced it is partnering with Gamma Risk, a global provider of location intelligence systems and services.
Insurity Launches Interaction Platform Powered by Glia to Boost Digital Engagement for Carriers and MGAs
Insurity, a leading provider of cloud software for insurance carriers, brokers, and managing general agents (MGAs), has announced the launch of the Insurity Interaction Platform, powered by Glia.
Bold Penguin Partners with RT Specialty
Bold Penguin, the insurtech software specialist, has announced the addition of certain capacity offered through RT Specialty, a leading wholesale distributor of commercial excess and surplus (E&S) insurance products and services, to their Terminal carrier panel.
Akur8 Partners with Millennial Specialty Insurance to Enhance Personal Lines Pricing
Akur8, a next-generation insurance pricing solution powered by transparent machine learning, has announced a new partnership with Millennial Specialty Insurance, LLC (MSI), one of the largest non-carrier-affiliated managing general agencies in the United States.
Artex Launches First Protected Cell Company
Artex Risk Solutions, a subsidiary of Gallagher, has introduced its first Vermont Protected Cell Company (PCC).
QBE Insurance introduces Global Cyber Product
QBE Insurance has launched a new product, QCyberProtect, a comprehensive and globally streamlined cyber policy designed to bolster cyber resilience for clients worldwide.
‘Women Need to Push Harder for Senior Roles, Pay Rises and Funding,’ say Insurance Leaders
Female insurance leaders Sabrina Hart, Margot Giles and Casey Kempton discussed the challenges surrounding promotions and fundraising for women in the insurance industry, during the recent Women’s Leadership Congress at Insurtech Insights USA 2024.
GCube Launches $100 million Renewable Consortium
GCube Insurance, a specialist underwriter in the renewables sector, has announced the establishment of a new consortium designed to provide battery energy storage system (BESS) developers and asset owners with up to $100 million of “A-Rated” Insurance Capacity.
Lemonade Launches New UK Policy
Lemonade, the digital AI-driven insurtech company, has announced the launch of a new Buildings and Contents Insurance policy in the United Kingdom.
Kennedys IQ Partners with Vested Impact, Advancing ESG
Kennedys IQ and Vested Impact have announced a partnership to advance the use of ESG data in the insurance industry. This collaboration addresses the growing need for integrating external data to support underwriting, claims, and risk and compliance functions, as well as corporate supply chain management.
Insurtech Funding in Latin America Hits Historic Low at US$26 Million in H1 2024
Insurtech funding in Latin America plummeted to a historic low of $26 million in the first half of 2024, representing a sharp 78% decline compared to the same period in 2023. Over the 12 months from July 2023 to June 2024, the total funding reached $43 million, marking the lowest figure on record.
ICE InsureTech Partners with GoCardless, Streamlining Payments
ICE InsureTech, the Insurance Software Platform, has announced a partnership with GoCardless, the bank payment company, to streamline insurance payments in Australia and New Zealand.
Strong Economies Will Drive Insurance Growth and Profitability in 2024 Reports Swiss Re Institute
Despite geopolitical tensions and heightened inflation in recent years, major economies have demonstrated unexpected resilience. According to Swiss Re Institute’s annual World Insurance sigma report, global GDP growth is forecasted to reach 2.7% in real terms in 2024, setting a promising stage for growth and increased profitability in the insurance sector.
Insuritas Partners with IGS
Insuritas, the insurance distribution platform, has announced a partnership with Integral Group Solution (IGS), a company specialising in providing value-added assistance programmes.
Aviva Partners with Symfos, Improving Exposure Management
Aviva has managed to strengthen its exposure management capabilities through a partnership with Symfos. By using their software solution, Orchestra, the company has improved its ability to visualise risks and automate data processing.
Guy Carpenter Launches Parametric Flood Product
Guy Carpenter, the reinsurance broker, is launching a new parametric flood product, FloodShield, designed to enable risk transfer for large portfolios of exposure across wide areas.
Quotech Partners with Oasis Loss Modelling Framework to Enhance Exposure Management
Quotech, the underwriter-led developer of integrated technology solutions for underwriting and broking teams, has announced a partnership with the industry-owned Oasis Loss Modelling Framework.
AECID Invests €25 Million to Boost LATAM Insurtech
The Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has announced an investment of €25 million in management agency Mundi Ventures, agreeing that the funding will be allocated to insurtech startups and parallel sectors aiming to improve and digitise the insurance sector.
SageSure Successfully Closes US$60 Million Catastrophe Bond for County-Weighted Wind Cover
SageSure, a leading managing general underwriter specialising in catastrophe-exposed markets, alongside Anchor Re, a captive reinsurance vehicle, and SureChoice Underwriters Reciprocal Exchange (SURE), has announced the successful closing of the Gateway Re 2024-4 county-weighted wind cover catastrophe bond at $60 million.
Tokio Marine Announces Partnership with Kita
Tokio Marine has announced a partnership with carbon credit insurtech specialist Kita to provide Political Risk Insurance for developers and investors in carbon credit projects.
Pool Re Partners with Clearwater Analytics
Pool Re, the British government-backed terrorism reinsurer, has announced a partnership with Clearwater Analytics, a SaaS-led provider of investment management, accounting, reporting, and analytics solutions.
‘CEO’s Must Prioritise Sleep Quality in their Workforce’, says World Leading Sleep Neuroscientist
In today’s fast-paced work environment, sleep and wellbeing often take a backseat to productivity and performance. However, the impact of poor sleep on health, safety, and overall job performance cannot be overstated.
Socotra and Oka Partner to Boost Carbon Market Insurance Solutions
US carbon-credit insurance carrier Oka and Socotra, a provider of modern policy administration systems, have announced a strategic partnership aimed at enhancing insurance solutions for the carbon markets and scaling climate initiatives.
Are you ‘wrestling’ with delivering embedded insurance to your customers?
In this latest Thought Leadership article, Ross Sinclair, Founder and CEO of EIP explores the history of embedded insurance services and why some ‘innovative’ new ways of offering such solutions are falling short of the mark.
Radian Announces Partnership with BatchService
Radian Group has announced a partnership with real estate data and technology company BatchService to provide BatchService’s community of real estate investors and other customers access to its title and home closing platform, titlegenius.
Tesla Granted Extension in Insurance Overcharge Lawsuit
Tesla has been granted additional time to prepare for a lawsuit filed by a customer representing drivers in eleven U.S. states, alleging the company overcharged for insurance through false crash warnings.
Allianz Becomes Official Partner for 2024 Paris Olympics
Allianz Partners has been chosen by the Paris 2024 Organising Committee to provide medical assistance and repatriation services during the upcoming Olympic and Paralympic Games.
Enzo Raises $2.5 Million to Prevent Water Damage
Enzo the German-based startup dedicated to solving the global problem of tap water pipe damage in buildings, has announced the successful completion of a $2.5 million seed funding round.
Zyber Launches New Cyber Insurance Quoting Platform for Startups and Midsize Enterprises
Zyber has announced the launch of its new cyber insurance quoting platform tailored for startups and midsize enterprises. The platform allows users to obtain insurance quotes within minutes through a streamlined digital process.
Cambridge Mobile Telematics Renews Partnership with Hastings Direct
Cambridge Mobile Telematics has announced the renewal of its partnership with Hastings Direct, a UK insurer specialising in private car, van, motorbike, and home insurance. Cambridge Mobile Telematics is recognised as the world’s largest telematics service provider.
Charlee.AI Announces Partnership with Duck Creek
Charlee.ai, a provider of AI-based predictive analytic solutions, has announced a partnership with SaaS insurtech Duck Creek Technology to enhance the claims management process through advanced predictive analytics.
Janover Inc. Launches D&O Liability Insurance for Publicly Traded Companies
Janover Inc., an AI-driven platform for commercial real estate transactions, announced today that its subsidiary, Janover Insurance Group, has begun offering directors and officers (D&O) liability insurance tailored for publicly traded companies.
Aspen Data Labs Launches to Enhance Digital Capabilities
Aspen Insurance, a prominent provider of insurance and reinsurance solutions, has introduced Aspen Data Labs, a platform designed to enhance digital capabilities and strengthen its focus on data and Analytics.
Limit Launches Insurance Gen AI
Limit, the insurtech, has launched LimitAI, which it claims is the first generative AI created exclusively for the Property & Casualty (P&C) sector. LimitAI is designed to analyse extensive insurance documents, quotes, and policies, providing rapid answers to various insurance-related queries.
AdvantageGo Partners with FortifyData
AdvantageGo, a leading commercial insurance and reinsurance SaaS provider, has announced a partnership with FortifyData, a prominent cyber risk manager, to enhance cyber risk analysis in the underwriting process.
Heffernan Insurance Expands Portfolio with Acquisition of Costello Insurance Associates
Heffernan Insurance, one of the largest independent insurance brokerage firms in the United States, has announced the acquisition of Costello Insurance Associates, a move that officially adds aviation expertise to its extensive range of services.
Direct Line Insurance to Debut on Price Comparison Websites
For the first time in its history, Direct Line insurance will be available on price comparison websites, introducing a new suite of motor insurance products tailored for these platforms.
Shel Bachrach, Hollywood Insurance Pioneer, Dies
Shel Bachrach, an insurance giant whose work behind the scenes helped movies like Cliffhanger, The People vs. Larry Flynt, and Ali get made, died on Monday in Palm Springs at the age of 80.
Securian Announces Partnership with Open Lending
Securian Financial and Open Lending have announced they are partnering to provide insurance to credit union and other auto lenders through the Lenders Protection programme.
Otonomi Announces Global Launch of Three-Hour Air Cargo Delay Parametric Insurance
Otonomi has officially launched its new three-hour Air Cargo Delay Parametric Insurance worldwide. The product aims to fill a significant gap in air cargo insurance by providing coverage for ultra-short yet costly delays.
APOLLO Partners with Dream
APOLLO, the Canadian digital insurer and pioneer in the emerging embedded finance sector, has partnered with Dream to provide instant digital insurance solutions specifically designed for tenants across Canada.
Martin & Company Partners with Coherent to Boost Insurance Product Development
Martin & Company, a leading provider of insurance technology solutions and consulting services, has partnered with Coherent, a global software-as-a-service company, to enhance speed-to-market capabilities for insurers.
HUB International Acquires Wyatt Insurance Services, Inc. in Tennessee
Hub International Limited (Hub) has expanded its footprint in Tennessee with the acquisition of Wyatt Insurance Services, Inc.
Verisk Launches Tool for Actuaries
Verisk, the global data analytics and technology provider, has launched ISO Experience, a product designed to modernise the way actuaries within insurance analyse risk patterns.
GNP Seguros Boosts Digital Transformation with Equisoft’s OIPA Integration
GNP Seguros is further strengthening its digital transformation efforts with the implementation of Equisoft’s cloud-based policy administration solution, which uses Oracle Insurance Policy Administration (OIPA) at its core.
Aviva Completes Acquisition of Probitas
Aviva has completed its acquisition of Probitas Holdings Limited for £249 million, marking its entry into the Lloyd’s market.
Breeze Partners with WebCargo for Seamless Cargo Insurance
Breeze, a leading digital cargo insurance platform, has announced its integration with WebCargo by Freightos. The partnership enables freight forwarders to instantly purchase insurance for shipments via Breeze directly through the WebCargo platform.
Zurich Launches New Life Science Offering
Zurich North America has introduced a new primary products liability policy tailored to meet the specific needs of pharmaceutical, medtech, research and development, and other life science companies with revenues up to $1 billion.
Customer Expectations Need to be Adjusted Regarding Risk, says Nationwide’s President, Personal Lines
Casey Kempton highlighted critical challenges facing the personal lines sector and spoke at length about opportunities for innovation and improvement during her recent live on stage session at Insurtech Insights USA 2024.
Westwood Announces Partnership with Stanley Martin
Westwood Insurance Agency has announced a new strategic partnership with Stanley Martin Homes, one of the fastest-growing home builders in the US.
Solera Registers for IPO
Solera, a global provider of SaaS solutions, has announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock.
SES Partners with Guaranteed Rate
SES Risk Solutions, an MGA specialising in real estate investor insurance, has announced a partnership with Guaranteed Rate Insurance, aiming to provide rental property owners with comprehensive landlord insurance coverage.
Marsh Acquires Horton Group
Marsh McLennan has announced the acquisition of The Horton Group, a leading insurance brokerage and one of the top independent insurance brokers. The terms of the deal have not been disclosed.
14 Strategic Partnerships Bolstering the Digital Ecosystem in Q3 2024
In an era marked by rapid technological advancements, the insurance industry is witnessing a significant transformation. Much of this is achieved via strategic collaborations that enable better products and services – and further reach into previously uncharted marketplaces.
At-Bay Announces Closure of Relay
Cyber insurtech At-Bay has announced its intention to shut down Relay Platform form, the cyber-focused single-entry multi-carrier quoting solution it acquired in 2022.
Eastern Alliance Announces Partnership with CLARA Analytics
Eastern Alliance, a ProAssurance subsidiary, has announced it has chosen CLARAty.ai, an advanced platform developed by CLARA Analytics (CLARA), to enhance medical outcomes for injured workers, improve reserve accuracy, and reduce administrative burdens for claims professionals.
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