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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.
QBE Promotes Cécile Fresneau to Run Insurance Division
Following three years as Executive Director for QBE UK, Cécile Fresneau has been promoted to take the helm of QBE European Operations’ Insurance Division, overseeing the business in Europe and International Markets in addition to the UK.
Zensar Announces Strategic Partnership with Claimatic
Zensar, a leading digital solutions and technology services company, announced that they have entered into a global strategic partnership with US based Claimatic.
Munich Re’s 2020 Cyber Risk Report Sheds Light on Cyber Insurance Inadequacy
The COVID-19 pandemic exacerbated the threat and likelihood of cyber security breaches for organizations, Munich Re’s 2020 cyber risk report found. Despite the growing risk of cyber attacks, its insurance coverage products and services are still failing to catch up.
How Argo Group Innovates: Q&A with Ian Macartney
IIR talks with Ian Macartney about the specialty insurer/reinsurer has accelerated its transformation journey with grass roots innovation and an Enterprise Solution for digital transformation.
Accenture AI Expert on How First Principles Prevent Problems
As more organizations begin employing AI in production environments, it’s clear not everyone has completely thought through how AI will fundamentally change their business.
Think 24-Year-Olds Don’t Influence Insurance? Think Again
As GenZ becomes more influential as consumers, their expectations for services and interactions will include many AI-based offerings. Add the purchasing power of the Millennial generation with that of GenZ, and all businesses must evolve to meet these collective expectations for technology.
Thirty UK Insurtech Companies to Watch Out for in 2021
The insurtech sector has emerged as one of the most significant players in the UK’s fintech industry, continuously reaping investments, even amid a myriad of economic disruptions caused by the pandemic.
The Future of AI in Insurance
Artificial intelligence (AI) and machine learning have come a long way, both in terms of adoption across the broader technology landscape and the insurance industry specifically. That said, there is still much more territory to cover, helping integral employees like claims adjusters do their jobs better, faster and easier.
Tewes-Kampelmann to Succeed Ahmed as CEO of Allianz Re
Allianz SE Reinsurance (Allianz Re), the reinsurance arm of the global insurance carrier, has announced that Holger Tewes-Kampelmann will succeed Amer Ahmed as its Chief Executive Officer (CEO), effective May 1st, 2021.
Lemonade & 12 More Insurtech Companies You Should Know In 2021
Insurance has always been a valuable option for those looking to protect themselves from potential threats, and the pandemic has even further reenforced the importance of preparing for the unexpected. However, some customers have been deterred from enrolling in insurance coverage with traditional companies, due to barriers like complicated coverage options and unclear eligibility requirements.
A Flurry of Partnership Activity and Launches: Insurtech Roundup
Here is a recap of some of the latest insurtech launches and partnerships!
Tackling the Talent Crisis in Insurance
The coronavirus pandemic has highlighted how insurance can operate in a new way and excel, and it must now capitalise on new opportunities or risk losing out on a generation of talent
Farmers Completes Acquisition of MetLife Auto & Home Business for $3.9 Billion
Zurich Insurance and Farmers Exchanges have closed on buying MetLife’s U.S. property/casualty business for $3.94 billion.
The Next Generation of Insurance: Personalization, Platforms and Data
By leveraging platforms, modernizing their data use and adapting their portfolios, insurers will be well-prepared for the world that awaits us post-COVID.
Bright Health Snaps Up Zipnosis to Build Out Telehealth Services
The combination of the two companies reflects a shared vision: lowering costs and providing greater access to quality, affordable, personalized care, according to a press release issued by Cain Brothers, Zipnosis’ financial adviser.
Reinsurance Management Tech Critical for Carriers: Sapiens’ Greenberg
Technologies to help manage and automate the reinsurance ceding are becoming increasingly critical for insurance carriers, according to Martin Greenberg, Reinsurance Product Manager for Sapiens, a global provider of software solutions for the insurance industry.
Zurich Partners with Previsico Using Technology for a Major Client
Flood forecaster Previsico has partnered with insurer Zurich and one of their top UK customers in a market-first tripartite pilot across 5,000 UK locations.
Lloyd’s Highlights Accelerating Casualty Market Trends in 2020 Review
According to the Lloyd’s yearly market report, the 2020 casualty treaty market saw a number of pre-existing trends accelerate as the market faced issues such as diminishing capacity, tightening policy coverage and significant price strengthening in distressed and high exposure accounts across most lines of business.
Fenris Digital Announces $2.7M Investment to Modernize Insurance and Financial Applications
Insurance technology company Fenris raised $2.7 million in new funding. Fenris, a data and analytics company focused on streamlining and modernizing the process of quoting insurance products, will use this funding to meet the growing demand from clients for its API-delivered insights and data, with a strong focus on expanding its sales and marketing resources.
The Latest Launches: Cyber Edition
Coalition is linking up with Insureon to expand the reach of its cyber insurance and security tools. Cowbell Cyber has expanded into the New York market.
Trov Technology Enables A New Wave Of Consumer Brands To Offer Digital Renters Insurance
New UK brands include Lloyds Bank, Love To Rent, Moovshack, OpenBrix, Utilita and Movinghub, with many more to come in 2021
Insurtech Corvus Enters Partnership with Skyward Specialty
Boston-based insurtech firm Corvus Insurance has entered into a new partnership with Skyward Specialty Insurance Group to expand its Smart Cargo + Cyber offering.
Indian Insurtech Policybazaar Plans Mumbai IPO
Indian online insurance platform Policybazaar is planning to file a draft prospectus as soon as next month for its Mumbai initial public offering that could raise about $500 million, according to people familiar with the matter.
Embedded Insurance Helps Merchants Avoid The ‘Protection Gap’
Whether they know it or not, consumers have been the beneficiaries of embedded insurance, a trend that’s moving beyond simple eCommerce payments and has recently made its debut in the logistics sector.
AXA XL Names Khera as Head of Marine, UK & Lloyd’s and Global Head of Hull
AXA XL, the property & casualty and specialty risk division of AXA, has named Sundeep Khera as Head of Marine, UK & Lloyd’s market, and Global Head of Hull.
Sedgwick Partners with John Lewis to Offer Claims Solution for Home Insurance
Sedgwick has struck a new strategic partnership with John Lewis to provide an innovative claims service for its new home insurance product.
Acrisure Names Its First Chief Innovation Officer
Acrisure LLC said Tuesday that it has named Matthew Marolda as its first chief innovation officer.
3 Ways Technology Is Reshaping Insurance in 2021 and Beyond
As technology has reshaped the world in recent years, it’s also become an integral part of the financial industry. The emergence of financial technology companies, or fintech for short, has changed the way we spend money, take out loans, and track our budgets.
InsurTechs Bold Penguin, Thimble Announce Partnership
InsurTech Bold Penguin is making it easier for agents and small business customers to secure to coverage by the month or by the hour—through a partnership with InsurTech startup Thimble, Bold Penguin announced today.
5 InsurTech Trends To Follow In 2021
The insurance industry isn’t exactly synonymous with “cutting edge,” but that’s changing thanks to modern technology. Insurtech is completely upending the way the insurance companies operate and how consumers access coverage.
Lemonade CEO: Why Regulators Need to Engineer Equity in Insurance Prices
CEO of Lemonade, Daniel Schreiber says: It takes a one-two punch to make insurance fair. I’ve previously argued that AI can vanquish bias in insurance, and so it can. But while machine learning can help ensure equality, it cannot ensure equity. It might even make it worse.
AXA XL Reorganises Reinsurance Under New Entity
AXA XL has moved to consolidate its reinsurance operations under the newly-formed AXA XL Re entity, in an effort to more easily bifurcate and evaluate the performance of its insurance and reinsurance business segments.
The Evolution Towards Continuous Underwriting
New generally available release includes features that provide major quality of distributor performance improvements for carriers looking to optimize and expand distribution channels.
Majesco Adds New Capabilities in Distribution Management Platform
New generally available release includes features that provide major quality of distributor performance improvements for carriers looking to optimize and expand distribution channels.
How to Ensure Your Board’s Cyber Risk Readiness: Tips from AIG’s Rich Baich
This RIMS session weighs in on how all corporate boards can prepare themselves for any cyber risk that may occur.
Astorya, Search Engine for Insurance and Banking Tech, Reviews 10 Years of Insurtech in Europe
Astorya.io, which aims to serve as the search engine for Insurance and Banking technologies, has published a blog post, titled InsurTech Europe: 10 Years Of InsurTech In Europe Analyzed Through 800+ Startups (based on data from astorya.io).
GF Forsikring, Positions to Take the Lead with AI, Scaling their Data Science Team and AI Initiatives
2021.AI is to team up with GF Forsikring, a leading Danish insurance provider, to deliver an AI platform to support GF Forsikring’s AI strategy to provide new and improved services to their members. The first AI model is ready to go into production in Q1 2021.
Bright Health Plans IPO to Raise US$1 Billion or More
Bright Health Group Inc., a digital health records platform, is planning an initial public offering in the U.S. this year, according to people with knowledge of the matter.
Digital Embedding Makes Insurance Relevant
It should come as no surprise that the pandemic has opened up new opportunities for consumers to consider insurance. The unforeseen, after all, might seem like it’s more a possibility than ever before — disrupting travel, health and even shopping.
Zurich Announces Climate Change Targets
Global insurer Zurich has announced it will be setting new targets for its investments and operations in an effort to accelerate the transition to a net-zero emission economy.
InsurTech Platform Sold in Seven-Figure Deal
Life and health insurance firm Bounce Life has sold its InsurTech platform and advisory business for an undisclosed seven-figure sum.
Munich Re Partners with Spectrum Labs for AI Safety Systems
Global reinsurer Munich Re has entered into a partnership with Spectrum Labs in order to set a new industry standard for AI-based Trust & Safety systems.
Tech Trends That Will Transform the Insurance Industry in 2021
The insurance industry has been in the midst of digital transformation in recent years – but experts say this technological shift has been accelerated by the need to address the unprecedented challenges brought about by the pandemic.
Ledger Investing Adds Ex-AIG CEO Peter Hancock to Board
Ledger Investing, the insurtech and insurance-linked securities (ILS) focused venture-backed company, has announced the addition of industry veteran Peter Hancock to its board of directors.
Aclaimant Raises $15 Million in Series B Financing Led by Next Coast Ventures
The new funds for the insight-driven workflow platform for safety and risk management will be used for product innovation, hiring, and accelerated client acquisition and sales, as well as marketing and partnership development.
Digital Onboarding and the Digitization of Touchpoints
When we talk about customer onboarding, we are referring to a set of activities that aim to introduce new customers to the services we offer, making them aware of these services and guiding them through all the phases of subscription, configuration, and activation of the services themselves.
The Latest Launches From Lloyd’s, Amwins and Kin
Lloyd’s launched a parametric earthquake insurance policy in New Zealand. Amwins Specialty Logistics Underwriters is expanding into the Canadian market to serve Canada’s growing logistics industry. Kin Insurance said it is now offering homeowners policies in Louisiana.
Mercer Marsh Benefits: Harnessing Data to Drive Insurtech
Richard Roper, Health & Benefits Leader Hong Kong, Mercer Marsh Benefits (MMB) Asia, discusses the optimisation of data in order to drive the insurance company forward.
Metromile Plans Reinsurance Restructure as Loss Narrows
San Francisco based car insurance start-up Metromile has announced that it plans to restructure its reinsurance program going forward, as the company reported improved performance over 2020.
How Data in the Cloud Is Helping Pioneer ‘Whole Person’ Healthcare
Healthcare is undergoing a transformation. While consumers once received treatment based solely on their symptoms at the point of care, healthcare providers can now incorporate a wealth of historical, social, and environmental information to assess an individual’s condition and provide more personalized—and preventive—care.
INSTANDA Helps London Underwriters Create New InsurTech, Bunch Insurance
Traditional wholesale brokerage harnesses INSTANDA cloud-native platform to launch brand new commercial insurance program
U.S. Insurtech Salty Secures More Than $15 Million From New & Existing Investors
Salty, a U.S.-based Embedded Insurance technology company, announced on Tuesday it secured over $15 million through its latest investment round, bringing the company’s capital raised to date to more than $31 million.
Next Insurance Reaches $881M in VC Cash After New $250M Funding Round
Next Insurance raised a whopping $250 million in new venture financing – a major cash infusion after a year of acquisitions and other actions to further growth.
Digital Insurance Group (DIG) and dacadoo Set to Offer Lifestyle-Based Products to Life Insurance Clients
Amsterdam based Digital Insurance Group (DIG) and Swiss Healthtech and Insurtech company dacadoo join forces to further boost their set of Insurtech solutions for banking, insurance and brokers, with a new quote & buy product that will revolutionize the underwriting process for life operators.
Nayms Brings Blue-Chips and Disruption to Crypto Insurance
A new smart contract-based insurance marketplace is promising radical efficiency and more coverage for the long-underserved crypto industry.
How Insurers Can Close the Information Gaps Between Old and New Technology
Australian insurers have been under constant pressure to adapt to new customer expectations over recent years, with rising demand for digital and mobile services. In addition to this, global insurtech disruptors have been increasingly making omnichannel digital experiences the norm. COVID-19 has also intensified this pressure, with major organisational challenges around transitioning large workforces to remote working, as well as continuity plans, self-assessments of occupational risks and sick leave or leave for quarantine.
Tech Startups Bringing the Power of Applied Analytics to Potential Plaintiffs
Lee Fogle reached down to save his 12-lb. Yorkshire terrier Nemo as a pit bull lunged forward. The attacking dog’s jaws clamped onto his left hand, sending him to a clinic for sutures and starting a 10-month-long insurance battle.
Introducing Surevested: A Life Insurance Agency Powered by Artificial Intelligence
Life insurance is the greatest gift you can give your family and today, Survested, a new life insurance agency, is launching to make the process simple, honest, and completely transparent.
Hyundai Introduces New Insurance Feature
Hyundai Motor America introduces the Usage Based Insurance (UBI) program and Driving Scoreii to promote safe and efficient driving habits and potentially save owners hundreds of dollars on their auto insurance.
Three AI Apps Making Waves in the Insurance Industry
The rise of artificial intelligence has brought about easier and accurate handling of large digital information from various sources. Because of this various industries are adopting the technology to drive output and improve productivity. From machine learning and processing of natural languages to automation of robotic process automation, AI is dominating the digital world.
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