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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.
Howden Re and Moody’s Launch Reciprocal Talent Exchange Programme
Howden Re and Moody’s have announced the launch of a three-month reciprocal talent exchange programme, aimed at bolstering professional development and knowledge sharing between the two companies.
TWFG Aims for $176 million IPO
The Woodlands Financial Group (TWFG), an insurance broker supported by reinsurer RenaissanceRe, has announced its intention to raise up to $176 million through its upcoming Initial Public Offering (IPO).
Najm Partners with Cambridge Mobile Telematics in Saudi Arabia
Najm for Insurance Services Company (Najm) has launched a new telematics initiative using advanced mobility analytics technologies to improve road safety in Saudi Arabia.
Unum Group Sells Medical Stop Loss Operations to Amynta Group
Unum Group has announced a definitive agreement to sell its Medical Stop Loss business to the Amynta Group, an insurance services company.
EY Report Reveals Surge in UK Insurance M&A Deals in H1 2024
An EY report has highlighted a significant increase in publicly disclosed M&A deals in the UK insurance industry, rising from 54 deals in H1 2023 to 94 in H1 2024. The overall deal value has also surged from £400 million to £900 million.
Brookfield Set to Establish UK Insurer
Brookfield, one of the world’s largest private capital groups, has applied to establish an insurance entity in the UK. This move aims to capitalise on the significant number of British companies looking to offload their pension plans.
Lloyd’s Launches Inclusive Futures Coalition to Promote Market Inclusivity
Lloyd’s has announced the members of the Inclusive Futures Coalition. This collective, comprising market firms and delivery partners, spearheads the Inclusive Futures programme, which was launched in November 2023.
Aflac Partners with SKYGEN to Streamline Customer Experience
Aflac, a leading provider of supplemental insurance in the US, has announced that its Dental and Vision division is partnering with SKYGEN to continue improving the customer experience journey.
Hiscox Shares Soar Amidst Reported Takeover
Shares in Hiscox surged as much as 14% on Monday following reports that two foreign rivals are considering takeover bids for the Lloyd’s of London insurer.
tifgroup Partners with OpenDialog AI Transforming Travel Insurance Customer Experience
tifgroup, a leading provider of travel insurance, has announced a partnership with OpenDialog AI, aiming to transform the customer experience across its customer-focused brands.
Parametric Insurance: The Future of Swift and Precise Disaster Recovery?
Insurtech Insights speaks to three parametric experts about why this swift and transparent approach to insurance is gaining ground in our increasingly unstable climate.
iA Financial Group Makes $10 million Investment in Clutch
iA Financial Group has announced a $10 million investment in Clutch Technology, a Canadian company specialising in online sales of pre-owned vehicles. This strategic move aims to integrate iA Financial Group’s insurance products into Clutch’s digital car-buying platform.
Schroders Establishes Insurance-Linked Tokenisation
Schroders Capital, the $94 billion private markets arm of Schroders Group, has launched a tokenisation pilot aimed at innovating within the insurance-linked securities marketplace.
Aurora Launches Flagship Commercial Combined Product
Aurora, the managing general agent, has launched a flagship commercial combined product tailored for SMEs. Supported by AXA insurance, the product includes property business interruption, employers’ liability, and public liability coverages.
Mercia Leverages AI to Cut Insurance Expenses by 25%
Mercia Fleet Management has revealed a significant reduction in its insurance costs by leveraging AI-enhanced driver profiling and accident damage assessment, despite the wider rise in insurance premiums.
Fitch Finds US P&C Sector Set to Return to Profitability
Fitch Ratings has found that the US Property and Casualty market is set to return to underwriting profitability along with a significant improvement in return on capital for 2024. This positive outlook is driven by lower winter storm losses and an improvement in personal auto results.
Bermuda-based Relm Insurance ventures into MENA market
Bermuda-based specialty insurance carrier Relm Insurance Ltd has completed its expansion into the MENA region through the acquisition of B&F Partners Ltd, now operating as Relm Insurance Mena Ltd.
Labour’s Victory in the UK General Election: Implications for the Insurance Industry
In the wake of Labour’s recent triumph in the UK General Election, industry experts are weighing in on the potential impacts this political shift may have on the insurance sector.
PLATFORM Launches Captive Insurance Unit
PLATFORM, the boutique insurance broker, has announced the launch of a captive insurance and alternative risk financing practice group to be led by Braedy Walker (pictured).
TrustID Announces Partnership with IDVerse
TrustID, a company known for its expertise in identity verification, has announced its partnership with IDVerse, a startup pioneering AI identity solutions.
Why Underwriters Matter in Our AI-Driven World
Dani Katz, Co-founder and Director of Optalitix, explores the evolving role of underwriters as AI innovation transforms legacy processes and roles across the insurance industry
MAPFRE Receives Approval To Open Beijing Branch
Global reinsurer MAPFRE RE has announced that on 2 July 2024, it obtained approval from the National Financial Regulatory Administration of the People’s Republic of China to open a branch in Beijing.
Nature Risk Intelligence Provider Natcap Raises $10 Million
Natural Capital Research (Natcap), a startup specialising in nature and biodiversity intelligence, has announced it has successfully raised $10 million in a Series A funding round.
Howden Finds Cyber Market Stabilising, Rates Declining
Howden’s fourth annual cyber report has found a market stabilisation following significant volatility in 2020 and 2021 due to increased ransomware claims. The “Risk, Resilience, and Relevance” report found a 15% decrease in rates from the peak in 2022.
Insurtech UK Unveils Policy Recommendations for Incoming Government
Insurtech UK has published a roadmap of recommendations for policymakers, so that the UK can retain and strengthen its leading global status in insurance innovation.
2024 British Insurance Awards Winners Revealed
The 29th Annual British Insurance Awards, hosted by Insurance Post, were held at the Royal Albert Hall last night, honouring the best in the industry at one of the most prestigious and coveted awards ceremonies in the market.
Wopta Assicurazioni Secures €4.1 Million in Series A Funding Round
Wopta Assicurazioni, an insurtech MGA established to support businesses and professionals against everyday risks, has successfully closed a €4.1 million Series A funding round. The raise brings the total raised since its inception to approximately €8 million.
Experts Unpick New Workplace Violence Prevention Law: California Senate Bill 553
Insurtech Insights talks to Lucy Straker US Focus Group Leader – Political Violence & Deadly Weapons Protection and Jim Rizzo, Product Leader US D&O at Beazley, to find out how the new Bill will impact the insurance industry and its customers
Brokerslink Launches Trade Credit Insurance Practice
Brokerslink, the network of independent brokers, has introduced a specialised Trade Credit Insurance (TCI) practice, as it seeks to meet increased demand from international affiliates.
Lemonade Renews Reinsurance Programme with Tier-One Carriers
Lemonade has announced the renewal of its reinsurance programme, continuing its partnership with top-tier carriers and achieving an oversubscription across all dimensions.
Utmost Group Announces Acquisition of Lombard International
Utmost Group has announced an agreement to acquire Lombard International Assurance Holdings, subject to regulatory and other approvals.
AutoRek Partners with J.P. Morgan Payments to Transform Insurance Firms’ Premium Processing
AutoRek, a prominent insurtech company specializing in streamlining premium processing operations for insurance firms, announced a strategic partnership with J.P. Morgan Payments.
LB Forsikring Partners with Akur8’s Machine Learning Platform to Boost Pricing Competitiveness
Akur8, a cutting-edge insurance pricing solution powered by transparent machine learning, announced that LB Forsikring, a prominent Danish property and casualty (P&C) insurance company, has chosen Akur8’s Core Platform solution to boost its market competitiveness.
State Farm Contemplates Future Amid Significant 30% Rate Hike Request in California
State Farm, the biggest insurer in California, is considering its future operations in the state as it seeks substantial 30% rate increases for its customers.
Everest Announces Key Appointments in European Expansion
Everest, the global (re)insurer, has announced two key strategic appointments within its international insurance operations, as it seeks to expand its European presence.
Oriental Insurance Launches New Personal Accident Coverage in Partnership with Chubb
Oriental Insurance, a subsidiary of OFG Bancorp, has announced the launch of a new personal accident insurance product in collaboration with Chubb Insurance Co. of Puerto Rico.
blip Cuts Insurance For Small Businesses through Triple Guarantee
blip, an insurtech, is aiming to disrupt the sector by providing small business insurance policies which are on average a third cheaper than the lowest prices offered by competitors.
Supercede Raises US$15 Million in Series A Funding to Revolutionise Reinsurance
Supercede, a digital reinsurance platform, has successfully raised US$15 million in a Series A funding round. The funding was led by Alven, with participation from Mundi Ventures, Outward, Seedcamp, MMC Ventures, and AFG Partners.
Sirius Point Announces Partnership with Tara Hill
SiriusPoint, a global specialty (re)insurer, has announced it is partnering with Tara Hill Insurance Services, a newly launched Excess and Surplus (E&S) programme administrator.
Qover Announces Motor Insurance Expansion in Ireland
Qover, an insurtech focusing on creating a global safety net through insurance solutions, has announced the launch of its motor insurance solutions in Ireland, as it continues its expansion across Europe.
SPECIAL REPORT: Curbing Rising Violence Against Women in Pakistan with Insurtech Solutions
lyzil – a platform and insurance product developed by the startup Instaful Solutions, is empowering women in Pakistan by offering them a safe space and lifeline against harassment and violence. Joanna England finds out more.
Howden Announces Expansion into Japanese Market
Howden has announced its entry into the Japanese market for the first time, launching Howden Re Japan and an ILS partnership with Keystone ILS Capital.
RDT Tech Poll: Insurers Push for Increased Transparency in Claims Processing
The recent RDT Tech Poll has revealed a strong consensus among insurance professionals for greater transparency and automation in claims processes. The poll highlights a significant call for change within the industry, driven by rising claims costs and inefficiencies in current systems.
Cytora Integrates Autoaddress’ Address Capture to Boost Underwriting Productivity
Cytora, a leader in transforming underwriting workflows within the insurance industry, has announced the integration of Autoaddress’ Address Capture into its underwriting productivity tool.
Berkshire Hathaway Specialty Insurance Expands to Nordic Region
Berkshire Hathaway Specialty Insurance (BHSI) has announced its expansion into the Nordic countries with the opening of a new office in Stockholm. Leading the regional operation is Anna Green, appointed as Head of Nordics.
Zurich and Aon Partner to Advance Global Hydrogen Development
Zurich and Aon have announced the launch of a groundbreaking clean energy insurance facility designed to provide comprehensive coverage for blue and green hydrogen projects worldwide, with capital expenditures of up to $250 million.
Charles Taylor Expands Aviation Adjusting Services with Acquisition of M3 Aviation Services
Charles Taylor, a leading provider of international adjusting services and technology solutions for the global insurance market, has acquired US.-based independent loss adjuster M3 Aviation Services, effective June 27, 2024.
Novidea Acquires Automated Document Generation Leader Docomotion
Novidea, the creator of a cloud-based, data-driven enterprise insurance management platform, has announced the strategic acquisition of Docomotion, a leader in automated document generation technology. The acquisition is expected to close within the week.
Resilience Doubles Cyber Insurance Limits to US$20 Million via Partnership with Lloyd’s
Resilience, a leading cyber risk solution company, has announced the doubling of its cyber insurance limits in the US to $20 million per client. The expansion follows the launch of new features and capabilities that help enterprises continuously manage and mitigate cyber risk.
ITM Acquired by European Insurtech Firm Lumera
UK-based life and pensions data management and technology company ITM has been acquired by Lumera, a European insurtech firm specialising in life and pensions solutions.
Allica Bank Partners with Westcor International to Launch Title Indemnity Insurance
Allica Bank has announced a partnership with leading title insurance provider Westcor International to launch a new title insurance product across its commercial mortgage range starting today – July 1, 2024.
Insuring the TikTok Generation
Meeri Savolainen, Founder & CEO, INZMO, gives us her thoughts on attracting a younger customer base and closing the next generation’s protection gaps.
SiriusPoint and Euclid Security Programs Announce Strategic Partnership
SiriusPoint Ltd, a global reinsurer, has entered into a strategic partnership with Euclid Security Programs, a boutique managing general underwriter (MGU) specialising in security industry risks. The partnership is expected to enhance risk management capabilities for both companies.
Feather Raises €6 Million to Develop Pan-European Insurance for Expats
Feather, a startup focused on providing digital insurance solutions for expats in Europe, has secured €6 million in a funding round led by Keen Venture Partners. Additional investors include Plural and industry leaders from Allianz, AXA, and Bastian.
Insurity and Coherent Announce Partnership to Transform Insurance Product Management for P&C Insurers
Insurity, a leading cloud software provider for insurance carriers, brokers, and MGAs, has announced a strategic partnership with Coherent, a platform dedicated to streamlining and accelerating insurance product development.
Sidecar Health Secures US$165 Million in Series D Financing
Sidecar Health, an innovative health insurance company, has raised $165 million in a Series D financing round. This investment marks the largest private investment in employer health benefits for the year.
Wefox to Replace CEO Amidst Financial Turmoil
Wefox, the German insurance startup, is set to replace CEO Mark Hartigan according to a report by Bloomberg, following the board’s rejection of a proposal by its largest stakeholder, Mubadala, to sell the company to UK insurance broker Ardonagh. Hartigan, who assumed the role in March, will be replaced by the end of the year.
Slide Insurance Secures US$175 Million Senior Credit Facility to Bolster Growth and Hurricane Preparedness
Slide Insurance has secured a $175 million senior credit facility, led by Regions Bank acting as Administrative Agent, Joint Lead Arranger, and Joint Bookrunner. Synovus Bank and Texas Capital Bank, via its TCBI Securities Inc. division, also participated as Joint Lead Arrangers and Joint Bookrunners.
Bondaval Launches Innovative Trade Credit Insurance Policy
Bondaval, a leading London-based insurtech, has announced the release of its first trade credit insurance product, designed to provide greater certainty over credit risk cover while reducing administrative burdens.
Collinson Partners with World Nomads to Boost Travel Insurance Offerings in UK & Europe
Collinson, a global leader in travel experience and loyalty programmes, has announced a strategic partnership with World Nomads, a prominent travel insurance provider, to launch a new Annual Multi-Trip (AMT) product in the UK and Ireland.
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