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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.
Tractable partners with Covéa, France’s leading auto insurer, to deploy AI
Covéa, France’s largest insurance group, is to accelerate the processing of its policyholders’ claims across its three brands – MAAF, MMA and GMF – with an AI that analyses damage to cars.
A New Normal for Consumers and Businesses – and a New Normal for Insurers
COVID-19 has placed insurers of all shapes and sizes before a host of unaccustomed challenges. But as vaccines are rolled out and we move beyond the acute phase of the pandemic, there are increasing opportunities on offer as well – where insurers can play a role in addressing the pain points that consumers and businesses face in the new normal.
Insurity Acquires Instec
The acquisition gives Insurity an advantage in pursuing the $40 billion program business market and enables P&C carriers and MGAs to rapidly grow through bureau content-enabled software.
Munich Re’s Consulting Unit Adopts Pricing Tech from Akur8
Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit.
3 Ways To Solve Inefficiencies In Your Claims Process
In our newly released webinar, The Principles of Claims Efficiency, FRISS and co-founder Christian van Leeuwen teamed up with Karen Mican, Chief Claims Officer at RSA Canada, and Ben Allen, co-founder and CTO at Laka, to answer some of your most pressing questions on claims efficiency.
Data Migration to Cloud Helps Underwriters: Insurers
The increased amount of data cloud providers can provide as more information moves to the cloud will help underwriters write cyber risk and their policyholders in turn, say insurers and a cloud provider.
Innoveo Announces Series A Funding Round of $15 Million
Innoveo, a leading provider of enterprise no-code solutions, has announced the completion of its $15 million Series A funding round after a highly successful year in 2020.
Telemedicine Crushed It in 2020. Will the Service Be Just as Amazing in 2021?
The pandemic has changed a lot of things — online shopping, at-home entertainment, work arrangements, take out and food delivery — and telemedicine.
Oscar Health Launches a Tech Platform
Oscar Health is launching +Oscar, a platform business to make its technology stack available to third-party payers and providers.
How Technology is Changing the Auto Insurance Landscape
AI, blockchain, and just an overall rise in technologies across the planet are changing the way traditional industries are doing business. The wide world of auto insurance is no exception, with disruptive technology from insurtech propelling the industry forward.
Insurance Risk Platform Archipelago Raises $34 Million
Insurance risk platform Archipelago has raised $34 million in funding led by Scale Venture Partners and earlier investors Canaan Partners, Ignition Partners, and Zigg Capital. Principals from Stone Point Capital, along with Prologis Ventures, also participated in the round.
How Digital is Transforming Commercial Insurance for Customers and Agents
Commercial underwriting is inherently complex, and it’s led many insurers to underinvest in technology.
FintechOS Raises $60 Million Series B Funding Round to Fuel Global Expansion
FintechOS the global technology provider for banks, insurers and other financial services companies, today announced it has raised USD60 million (EUR51 million) in Series B funding.
German Insurance Unicorn Startup CEO on Profitability Focus
In 2020, annual funding for insurance startups hit an all-time high of $ 7.1 billion on 377 transactions. This equates to a 12% increase in funding and a 20% increase in transactions compared to 2019. according to CB Insights.
SOSV-Backed Insurtech Startup Ignatica Banks $7m In Pre-Series A Money
Hong Kong-based insurance platform Ignatica said it raised US$7 million in a pre-series A funding round led by growth capital private equity fund Ling Feng Capital.
Veoneer and Swiss Re Enter Partnership to Further Improve Assessment and Enhance Development of ADAS Technology
The automotive technology company Veoneer, Inc. and insurance company Swiss Re are pooling their knowledge and vast experience on road safety technologies to further enhance the evaluation and development of advanced driver-assistance technologies (ADAS) and related services.
Korean Re Partners with Healthcare Insurtech Leapstack
Seoul-based reinsurer Korean Re has partnered with Leapstack, an AI-powered insurtech that specialises in healthcare, to support Leapstack’s expansion into the Korean insurance market.
Lemonade Starts Its Engines, Enters Auto Insurance Market
Digital insurer Lemonade is making the headlines again, with the launch of a new auto insurance offering.
Boston Insurance Tech Startup Raises $20M, Plans New Hires
Gradient A.I.’s software-as-a-service platform uses artificial intelligence to help commercial insurers automate and improve underwriting results, reduce claim costs and improve operational efficiencies.
Carbon Limiting Tech Creates New Opportunities for Insurers
Climate change is one of the biggest challenges we face as a society. With climate-related catastrophe losses continuing to climb, insurers are in a unique position to recognize just how high the stakes of climate change truly are.
Willis Towers Watson Commits to Net Zero by 2050
Re/insurance broker Willis Towers Watson (WTW) has announced a set of measures aimed at reducing carbon emissions across its business operations, with a target to deliver net zero greenhouse gas emissions by 2050.
Alan Raises $220 Million For Its Health Insurance and Healthcare Super App
French startup Alan has raised a $220 million funding round at a $1.67 billion valuation (€185 million and €1.4 billion respectively). Coatue is leading the round with Dragoneer, Exor, and existing investors Index Ventures, Ribbit Capital and Temasek also participating.
How AI Can Turn Insurance On Its Head by Helping Customers to Proactively Manage Their Risk
In recent years and particularly during the Covid-19 pandemic, we have started to see a rise in businesses using artificial intelligence (AI) to improve their service or products and ensure a seamless, transparent customer experience.
Munich-Based insureQ, a Digital Insurance Platform for SMEs & Freelancers, Raises €5 Million
Today Munich-based insurtech insureQ announces raising a €5 million seed round led by Nauta Capital, with existing investors Flash Ventures and GFC also participating.
What Does Insurance’s Digital Future Hold for Actuarial?
Insurance markets are competitive (and getting more competitive with new market entrants), and insurance products are complex (and getting more complex with changing customer expectations).
Electric Car Startup Unveils Proprietary and Usage-Based Insurance Program
US-based electric truck startup Rivian launched its own insurance coverage across 40 states, which are underwritten by third-party carriers, per TechCrunch.
Ex-Allianz CFO Wemmer Is Launching a SPAC to Target Insurance Deals
Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said.
Tokio Marine to Acquire US Employee Benefits Firm Standard Security
Tokio Marine Holdings is reportedly acquiring a US-based insurer operating in the employee benefits space, in a deal that could be worth US$184 million.
Level Raises $27M from Khosla, Lightspeed ‘to Rebuild Insurance from the Ground Up’
Level, a startup that aims to give companies a more flexible way to offer benefits to employees, has raised $27 million in a Series A funding round led by Khosla Ventures and Lightspeed Venture Partners.
The Insurance Industry is Realizing We’ll Never Go Back After Digitalization
Touchless digital insurance, for years a mirage somewhere in the future for the insurance industry, is here to stay thanks to Covid-19. High-growth breakout successes of the past few years such as Lemonade, Hippo, Next, Root and–if I may be bold, my company Neptune–highlight how innovation in the use of data can change every aspect of the insurance supply chain.
Sun Life launches Stitch to Expand Access to Supplemental Health Benefits
Sun Life US has launched a new, comprehensive way for employers to offer supplemental health benefits to all of their employees, including part-time and gig workers who typically are not eligible for benefits.
11 Digital Trends in the Insurance Industry
Most all players in the insurance sector are digitising – some more seamlessly than others. This phygital (meeting of the physical and digital worlds) trend is becoming omnipotent, with a blend of automation and human expertise now the norm.
WTW Introduces New Underwriting Software
Willis Towers Watson has announced the launch of Radar Workbench, a new software product that will allow frontline underwriters to make better decisions at pace and with confidence.
Zywave Acquires Enquiron
Enquiron’s proven engagement success, data and technology solutions will complement Zywave’s existing product portfolio and help drive ROI for customers
Insurance 2030: The future isn’t what it used to be
The pandemic has changed everything. Well, not everything… but it has changed many aspects of the lives of individuals and families and has had far-reaching effects on businesses in every industry.
Why Partnerships are the Future of insurance
As the world prepares for a post-COVID recovery, Insurtech Insights’ Kristoffer Lundberg and Bradley Collins lay out their vision for the future of the industry
Penni.io Receives EUR 5.7 Million Investment from Seed Capital Denmark
The company’s Penni Connect embedding solution enables insurers to sell products online through partners such as car dealers, travel providers and banks.
Insurance Giant AXA Switzerland Now Allows Customers to Pay Premiums in Bitcoin
Insurance giant AXA Switzerland now allows customers to pay premiums in bitcoin.
Lloyd’s Lab Innovation Program Choses 11 InsurTech Startups for Next Cohort
Lloyd’s announced the next 11 InsurTech start-ups that are participating in the sixth cohort of its Lloyd’s Lab innovation accelerator program.
Lloyd’s European CEO Rottiers to Depart, Amélie Breitburd Succeeds
Lloyd’s of London has announced the departure of Sonja Rottiers from her role as European Chief Executive Officer, with Amélie Breitburd set to step into the position.
Forget COVID-19, It’s Time to Start Insuring The New Normal
If you’re reading this, you successfully made it through your first year of COVID-19. Like a dependable four-wheel drive, the insurance industry kept itself on the road over the past year’s many first-of-their-kind hazards: remote-working mandates, the evaporation of face-to-face channels, mass event cancellations and a slew of Business Interruption claims, to name a few.
Vericred Raises $23M in Oversubscribed Series B Funding Round
Johanna Von Geyr, partner and EMEA lead banking, financial services and insurance at ISG, explores how to modernise the insurance industry with a shared cloud-based IT model
Challenger Bank N26 to offer Insurance Products
Fintech startup N26 is launching N26 Insurance as it plans to offer insurance products that you can access from the company’s mobile app and website. The first insurance product is a smartphone insurance plan for German customers.
2021 To Mark “Generational Transformation” for Re/Insurance: Conduit Re’s Carvey
Trevor Carvey, Chief Executive Officer (CEO) and Chief Underwriting Officer (CUO) of newly launched P&C reinsurer Conduit Re, has said that he expects 2021 to mark a “generational transformation” in the way the re/insurance industry operates.
Why Insurance Firms Need to Adopt Open Data
Johanna Von Geyr, partner and EMEA lead banking, financial services & insurance at ISG, explains why insurance firms need to adopt open data.
Chubb CEO Greenberg Reiterates Call for Litigation Reform
Chubb Chairman and CEO Evan Greenberg is reiterating a call for litigation reform nationally and at the state level to address what he said is a “systemic” worsening of the legal environment and its harmful impact on the insurance industry.
Insurtech Buckle hires AIG, PURE Vet as New CIO
Buckle, an insurtech known for its rideshare coverage, has hired two new members to the technology side of its executive team.
Zurich Cuts Property Claims Resolution Times with insurtech AI Solution
Zurich has reduced the time taken to settle property claims to under 24 hours thanks to its latest artificial intelligence (AI) solution in collaboration with insurtech Sprout.ai.
iptiQ and Bindable Announce a New Strategic Partnership
Bindable, the insurtech leader for digital property and casualty distribution, today announced a strategic partnership with iptiQ.
AXA Partners with Microsoft to Build Digital Healthcare Platform
Global insurer AXA is collaborating with Microsoft to build a digital healthcare platform, which will allow virtual healthcare to all AXA customers.
Generali Reportedly in Talks to Buy AXA Malaysia Assets
Italy’s biggest insurer Generali is in exclusive talks to buy assets in Malaysia belonging to French rival AXA in a deal worth around 300 million euros ($358 million), two sources said on Tuesday.
Aon Launches Covid-19 Vaccine Cargo Product with Parsyl and Ascot
Aon plc today introduced a new solution, through broad industry collaboration, that will provide supply chain protection for global COVID-19 vaccine shipments.
Aviva Singlife hires Kim Rosenkilde as Group CIO
Aviva Singlife Holdings Pte, the holding company established following the merger of Aviva and Singapore Life Pte, has appointed Kim Rosenkilde as Group Chief Investment Officer.
WTW Launches New Global Modelling Tool
Re/insurance broker Willis Towers Watson has launched a global modelling tool, Climate Diagnostic.
Insurance Comparison Website The Zebra Raises $150 Million in Latest Financing Round
The Zebra, a home and auto insurance comparison website, has raised $150 million in a Series D fundraising round, which valued the company at over $1 billion.
Insurance startup Clearcover raises $200 million from Eldridge, others at $1 billion valuation
Clearcover has raised $200 million in fresh capital as part of a late-stage financing round led by Eldridge, the investment firm helmed by Los Angeles Dodgers owner Todd Boehly, the digital car-insurance startup will announce on Tuesday.
How Insurance is Modernizing On-Demand Generation
Over the past ten years, the world has become increasingly on-demand in order to cater to the preferences of Gen-Zs and millennials. The on-demand generation refers to being able to order things easily and quickly as the need for them arises. Examples of on-demand services that are currently dominating the world including Uber (rides), Airbnb (housing), and Instacart (groceries).
Farmers Kicks Off IoT Partnership for Home Insurance
Farmers Insurance announced a collaborative effort with SimpliSafe, a maker of home security systems, that is designed to make preventative smart home protection available to homeowners in Alabama, Iowa, and Ohio.
Is Standardisation the Key to Building Customer Loyalty?
Coronavirus has turned a spotlight on the insurance industry’s failings, now insurers must be bold to rehabilitate reputations and regain trust
AXA Appoints New Group Chief Innovation Officer
AXA has announced that Jef Van In, currently CEO of AXA Belgium, has been appointed CEO of AXA Next and group chief innovation officer, effective July 01. He will report to Antimo Perretta, CEO of AXA Europe and a member of AXA’s management committee.
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