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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.
For Apollo’s New CEO, Insurance Is In—Racy Buyouts, Not So Much
Marc Rowan steers firm toward future as credit-investing titan catering largely to insurers with ample cash to park
A Promising Road Ahead for InsurTech
In the late 1980’s the car company Oldsmobile produced a television ad in which it touted its new models were, “Not your father’s Oldsmobile.” The idea behind the campaign was to show that the brand was evolving with the times and moving forward.
3 Emerging InsurTech Companies in the European Market
Europe is home to more than 700 million people versus 350 million in the US, making the European market, in terms of potential size, big. The big markets are Germany, the UK, Italy and France, which represent the far majority of the European premiums and are therefore a preferred base for many InsurTechs.
Insurtech and Artificial Intelligence
The rapid development of converging technologies is bringing about fundamental changes to the insurance industry. In the long term, organisations that are slow to embrace these new technologies will struggle to compete and to retain their place in the market.
Nationwide Insurance Ties Up with Auto Manufacturer
Electric vehicle manufacturer Rivian is following Tesla and General Motors’ leads, by launching its own in-house auto coverage – and Nationwide Insurance is serving as one of the company’s underwriters.
Qover and Arturo Series B, Chubb and Marsh partner for Covax, New LMA Legal Director
This morning we see more funding rounds, major insurers partner to insure global vaccine rollout, and the LMA has announced their new Legal Director.
Canadian Insurtech APOLLO Partners with Lloyd’s of London
Apollo Insurance Solutions Ltd. (“APOLLO Insurance”) (TSXV: APLO Reserved), Canada’s leading online insurance provider, announced that it has secured coverholder status with Lloyd’s of London.
Andy Fairchild: Taking advantage of technology in an intimate, advice-led way is ‘critical’
Trend-led brands will help establish the ‘winning insurance brokers for the next decade’
The Claims Experience is Ripe for Change
The life insurance industry has experienced a period of significant change over the last few years, unparalleled in recent memory.
Covr Receives Funding from Sony, Launches New Product Suite
The new products are designed to support the growing trend of self-directed, shop-from-home, insurance buying experiences possible because of emerging technology and robo-advice tools.
Insurtech Layr Launches Partnership with Brown & Brown
Layr is delighted to announce a new partnership with Brown & Brown Insurance Brokers of Sacramento and the Placer County Contractors Association and Builders Exchange (PCCA).
Chubb and Marsh collaborate on Covid-19 Vaccine Cover
Chubb and Marsh today announced a collaboration with the World Health Organization (WHO) and Gavi, the Vaccine Alliance (Gavi), that has secured insurance coverage for a Program that will offer eligible individuals in 92 lower-income countries and economies a fast, fair and transparent process to receive compensation for rare but serious adverse events associated with vaccines distributed through COVAX up to June 30, 2022.
Allianz Launches Partnership with Sea Shepherd for Marine Protection
Allianz has committed to clean oceans and coasts, biodiversity conservation and sustainable fishing practices by partnering with the international marine conservation organization Sea Shepherd Global.
Concirrus Partners with Cargocorp Underwriters
Insurtech Concirrus has entered into an agreement with risk management MGA, Cargocorp Underwriters to help digitalise their cargo insurance business in Latin and North America.
Personal Lines Post-COVID: New table Stakes and Wildcard Prospects
COVID-19 has severely impacted how UK consumers go about their daily lives, and this has serious implications for the risks they face and how they buy insurance.
Record insurtech investment, new Metromile CFO, driver-less
In the last few hours, WTW released data on last quarter’s record-breaking funding, and other moves and updates in the world of insurtech.
Arturo Raises $25 Million in Series B Funding Round
Artificial intelligence (AI) and deep-learning property analytics company, Arturo has raised $25 million in a Series B funding round led by Atlantic Bridge Capital, with participation from RPS Ventures and existing investors Crosslink Capital and IAG Firemark Ventures.
In a post-pandemic APAC market, is it make or break time for brokers?
By Matt Kenyon This morning we were joined by David Varley, Chief High Net Worth Officer at Sun Life, Dale Hansen, CEO at Austbrokers Coast
Wunderite Raises $3M to Build Software for Indie Insurance Agencies
This morning Wunderite, a Boston-based software startup, announced that it has raised $3 million in an early-stage round led by Spark Capital.
Hub Launches Transactional Insurance Platform
Hub International Limited (HUB), a leading full-service global insurance broker, announced the rollout of a robust digital platform for transactional insurance.
How AI Will Enhance Identity Management in Claims
Identity management has been an obstacle for commercial insurance companies for a very long time. Many thought that problems would dissipate or at least become easier to correct by moving to digital systems, but in reality, identity management has only grown more complex. It is obvious that we need a better way.
Insurance Leaders Use Digital for [Insert Anything Here]
Via Denise Garth, Majesco Let’s start with a warm-up exercise. Here are phrases you might find in any project meeting. Insert the missing words. “The
The Hartford Chapter “is Closed” Says Chubb CEO Greenberg
During insurer and reinsurer Chubb’s first-quarter 2021 earnings call held earlier today, Chairman and Chief Executive Officer (CEO), Evan Greenberg, said that “the chapter with The Hartford is closed.”
How Innovation is Paying Off for Insurance Leaders
The insurance industry as we know it is changing. In the wake of the COVID-19 pandemic, insurance carriers understand that they have to either innovate or fall behind. In this post, we will take a look at what that innovation looks like in practice and what industry leaders are learning about the art of innovating sustainably and at scale.
PFI & Zurich Close £6bn Longevity Reinsurance Swap
Prudential Financial subsidiary, The Prudential Insurance Company of America (PICA), and Zurich Assurance Ltd. have closed a £6 billion longevity swap with an unnamed UK pension scheme.
Global Insurtech Investment Hits Record $2.55 Billion in Q1: WTW
New data from re/insurance broker Willis Towers Watson (WTW) shows that global investment in the insurtech sector reached a new quarterly high of $2.55 billion during the first quarter of 2021.
NuVenture MGA Platform Launches to Attract Insurance Underwriting Talent
New MGA platform aims to nurture, develops, and support a diverse portfolio of MGAs, each benefitting from modern technology and an extensive range of mid- and back-office support functions.
ShapeShift: On Emerging Field Of Decentralized Insurance
Analysis reviews innovative, decentralized applications that help offset the financial risk associated with decentralized finance.
APOLLO welcomes Klaus Salchner as Chief Technology Officer
Apollo Insurance Solutions Ltd. (“APOLLO”) (TSXV: APLO
Reserved), Canada’s leading online insurance provider for small businesses and individuals, is
pleased to announce that Klaus Salchner has joined the APOLLO team as Chief Technology
Officer.
Seeing Is Believing: The Use of Augmented Reality in Society and Insurance
While augmented reality (AR) has been around for a few decades, the technology to power its widespread use is still fairly recent.
Insurtech Worry+Peace Highlights Value of Negative Reviews
Insurtech Worry+Peace has highlighted the implications of “potential complacency” should the insurance industry fail to embrace negative reviews – it believes customers should not be afraid of leaving negative reviews as they can be a way of problem solving.
Latinx-founded Insurtech Startup Sigo Raises $1.5M in Seed Funding to Spearhead Affordable Access to Auto Insurance
Sigo, a managing general agency providing underserved populations with affordable access to auto insurance, is leveraging its newly secured funding to further serve the overlooked segment of immigrant and Latinx customers.
Innovate for Insurance Revenues and Profitable Growth
The insurance industry has proven its resilience. Through the disruptions of COVID-19 and massive claims from storms and other catastrophic events, valuations have gradually improved.
Qover: Belgian Insurance Startup Raises $25m in Fresh VC Funding
Qover, the insurtech hailing from Brussels has raised $25 million in a Series B round that is expected to fuel global expansion efforts.
Sapiens Partners with Atidot to Offer AI-based Predictive Insights and Personalization to Life Insurance Providers
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today an agreement with Atidot, a cloud-based SaaS provider of AI and machine learning solutions for life and annuity insurers.
Industry Urged to Accelerate ‘Intelligent’ Tech Push
A new report from Accenture says Australian and global insurers should work towards building an “intelligent, data driven” operating model to elevate business performance.
AXA UK Makes Two Leadership Appointments
AXA UK Retail Insurance has appointed Marco Distefano as Managing Director for Motor and Home and Anna Fleming as Chief Operating Officer.
Porsche Says Carmakers See Tech as Key to Customer Acquisition
Steve Jobs trained consumers too well, says Kjell Gruner, the new president and chief executive officer of Porsche Cars North America Inc. And now car companies have a lot of catching up to do to match Apple Inc.’s standards for user interface.
Smart Choice Partners with Cover Whale
Insurtech broker Cover Whale has announced a new partnership with Smart Choice. Under the partnership, Cover Whale’s streamlined truck insurance platform will be open to Smart Choice agents in select states.
Not Just The Ad Industry: Big Data Is Making Insurance Greater Than Ever
Technology is redefining the very way our world works. From general knowledge to private data, we as a cohort have access to more information than any others through the course of human history.
What Makes a Truly Great Claims Experience for Brokers and Customers?
Insurance services are promises that only really get tested in the event of a claim, according to Mark Stephenson, head of business development and market relationships at Liberty Specialty Markets, which is why it makes sense to integrate claims across the entire business.
How Elon Musk is Planning to Put Motor Insurers Out of Business
It’s now nearly two years since Tesla boss Elon Musk announced his company would start offering insurance to its customers at a 20 or even 30 per cent discount to regular insurance. Now, some in the insurance industry are saying this is the start of a trend of car makers becoming insurers.
Hiscox USA Appoints Kevin Kerridge as CEO
Global specialist insurer Hiscox has appointed Kevin Kerridge as CEO of Hiscox USA, effective May 15, 2021. Kerridge takes the reins from Steve Langan, who has run Hiscox USA for the last three years and will now return to the UK after working with Kerridge to ensure a smooth transition of the CEO role.
Mindtree and Duck Creek Collaborate with UPC Insurance to Drive its Digital Transformation Initiative Forward
UPC Insurance to provide enhanced customer experience through SaaS-based core systems and its new flagship InsurTech company, Skyway Technologies
Digital Trends in The Insurance Industry
The Covid-19 pandemic has ushered in ample opportunities by accelerating the digital transition of tasks that were once considered mundane.
A Mobile-First Life Insurance Built For The Future
Singlife entered the local market in 2020, around the same time the World Health Organization declared the COVID-19 outbreak a global pandemic. Apart from its economic impact, people also feared the expensive medical bills that came with contracting the virus. Armed with advanced insurance technologies, Singlife Philippines quickly pivoted its launch plans and offered Cash for Dengue Costs with a FREE COVID-19 cover.
Video-Based Telematics? Car Subscription Services? The Future of Auto Insurance is Already Here
Increased use of video-based telematics in the commercial fleet space, as well as the evolution of car subscription services, are just two ways in which the Canadian insurance market could change over the next few years.
Hartford CEO Optimistic About COVID, Business Interruption Claims, Economy
The Hartford CEO Christopher Swift expressed confidence that the property/casualty insurer has weathered the worst of the COVID-19 pandemic and that related concerns about business interruption claims have become minimal.
Next Insurance Launches Commercial Property Coverage
Next Insurance is adding commercial property coverage to its suite of offerings, a move the insurtech says allows it to provide a full suite of coverages for its small business customers.
Miller Extends Partnership with Concirrus for Quest Marine Platform
Re/insurance broker Miller has extended its partnership with insurtech company Concirrus to continue to utilise its Quest Marine platform.
The Latest Launches From Berkley One, Openly and AXA XL
W.R. Berkley Corp.’s Berkley One expanded into Maryland and broadened its product offerings in other states where it does business.
Zurich Adds Ping An to Network of Insurance Providers
Zurich Insurance Group has added Ping An Health, a technology-driven health insurance company, to its Zurich Global Employee Benefits Solutions, which provides risk management and financing solutions for the global employee benefit plans of multinationals.
Shift Towards Asset-Light Economy is Transformative, Says Flandro
The shift towards an asset-light global economy has been described as transformative by HX Analytics managing director David Flandro, in a Howden report that highlights the rise of intangibles and the subsequent challenges this brings to re/insurers.
InsurTech Round-Up: Bold Penguin and Thimble, Vertafore and Nationwide, eMaxx
Catching up with insurance technology developments involving Thimble and Bold Penguin, Vertafore and Nationwide, and eMaxx.
Metromile Hires CFO from Expedia Group
Metromile, Inc. (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced Regi Vengalil will join the company as Chief Financial Officer on May 24, 2021.
AXA XL Partners with SpaceAble to Support Operators with Satellites in Low Earth Orbit
AXA XL Insurance announced it has established a global partnership with SpaceAble, a start-up specializing in space situational awareness (SSA), to better support satellite operators and organizations operating in space.
Brella Insurance Raises $15M Series A to Fund National Expansion of Supplemental Health Insurance Solution
Brella Insurance, Inc. announced it has raised a $15M Series A funding round led by Brewer Lane Ventures to bring Brella’s modern supplemental health solution to employers nationwide.
The Insurance Protection Gap: What is it and how does it affect the insurance industry and our quality of life?
The insurance industry has been developing fast in the past few years. Companies have been focused on growth and increasing their Gross Written Premiums (GWP), but are facing increasing challenges such as tough competition, a low interest rate environment, growing customer expectations and regulatory scrutiny.
Ornikar Raises $120M as Its Driving School Marketplace Goes Up a Gear with Car Insurance
A French startup that set out to bring a new approach to driver education and road safety, and then used that foothold to expand into the related area of car insurance, is today announcing a big round of funding to continue building its service across Europe.
Christophe Gaudron Named CEO of Guy Carpenter France
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the appointment of Christophe Gaudron as Chief Executive Officer (CEO) of its French operations, effective January 1st, 2022.
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