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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.
Amadeus and AXA Partners Sign an Agreement to Provide Insurance and Healthcare Assistance to Corporate Travellers
While business travel continues to face challenges with the on-going COVID-19 situation, it is paramount that companies have the right tools and data to ensure the safety and well-being of their employees when on the road for business. In response to this new normal, travel tech company Amadeus and insurance provider AXA Partners have come together to make travel safer.
Sustainable Insurers need to Build Strong Ecosystems
Sustainability ecosystems enable insurers to call on the resources and skills of a network of partners committed to building a sustainable future.
Brown & Brown Buys Insurance Platform from CoverHound
Brown & Brown Inc. has acquired online insurance platform CoverHound Inc., including its wholly owned subsidiary CyberPolicy, Brown & Brown said in a statement Monday.
Generali Launches a Market-First Bill Insurance to Address Customers’ Needs with Innovative Solutions
Generali Hong Kong today announced the launch of a market-first Bill Insurance – an innovative solution created to cover the utility bills of an individual by paying a lump sum benefit in the event the insured is hospitalised for more than 3 consecutive days.
India’s Smartphone Insurance Market To Reach $500 Million By 2025
India’s smartphone insurance market is expected to grow at a CAGR of 29% to touch $500 million (about Rs 3,678 crore) by 2025, according to a report by consulting firm RedSeer.
Chubb Launches Enhanced MasterPackage Solution for Life Science Companies in UK
This is a comprehensive first and third-party policy designed for companies which develop or provide life science products, solutions or services.
Acrisure Launches Major Tech-Enabled Re-Brand
Insurance brokerage Acrisure Llc has launched a new brand in order to bolster its intent to become known as the world’s most tech-enabled insurance broker.
UK Insurtech Zego Buys Telematics Firm Drivit to ‘Revolutionize’ Insurance Pricing
Zego, the London-based mobility insurance provider and the first UK insurtech to be awarded an insurance license, has acquired telematics company, Drivit.
Flock Launches Insurance for Connected Motor Fleets
Flock, the insurtech known for insuring complex commercial drone operations, today (8th December) launches Flock Motor, its commercial motor division focused on bringing motor insurance up-to-speed with the automotive industry.
Verisk Cyber Data Exchange Surges Ahead as Nationwide Joins Global Effort
By Contributing Premium and Loss Records to the Cyber Data Exchange, Nationwide Becomes Part of Growing Effort to Gain New Insights into Rapidly Changing World of Cyber Risk.
Battleface Secures $12M to Expand Travel Insurance Platform
Travel and fintech startup Battleface has won the backing of Drive Capital in a Series A round to the tune of $12 million.
How has the Pandemic Impacted Commercial Insurance Digital Strategy?
The unexpected, unprecedented events of 2020 have turned the world upside down. Like every business sector, commercial lines insurance has had to adapt and adjust throughout the year.
Munich Re Announces Bold New Strategy ‘Ambition 2025’
Global reinsurer Munich Re has announced a bold new strategy called ‘Ambition 2025’. The group strategy – which spans across reinsurance, primary insurance and asset management – sets new growth and result targets which follow the three guiding principles of scale, shape, and succeed.
Salty Attracts Over $16 Million in Total Investment
Backed by Elefund, Fremont Group, Human Capital, and other investors, the Embedded Insurance® technology company is expanding its platform.
Cyber Insurance Startup At-Bay Raises $34M Series C
Cybersecurity insurance startup At-Bay has raised $34 million in its Series C round, the company announced Tuesday.
Lemonade Pushes Into France With Renters Insurance
Lemonade has started selling renters insurance in France, the third European country into which it has expanded so far.
Marmalade Launches UK’s First Pay As You Go Car Insurance for Young Drivers
Peterborough-based young driver insurance provider Marmalade has introduced a ‘Pay As You Go’ offering to allow drivers to pay specifically for the miles they use on a car where they are not the main named driver.
Getsafe, the European Digital-First Insurance Startup, Scores $30M Series B
Getsafe, the digital-first insurance startup that initially launched with an app for home contents insurance, has closed $30 million in Series B funding.
Why War Exclusions Need to Evolve for Cyber Insurance to be Effective
Insurance can act as a key tool in addressing pervasive cybersecurity vulnerabilities, but, according to one report, “Cyber insurance is not yet mature enough to fulfill its potential, partly due to uncertainty about what kinds of cyber risks are, or can be, insured.”
Truist Insurance Continues Its Expansion with the Acquisition of Insurtech Wellington
Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it will complete five insurance acquisitions this quarter, adding over $100 million of combined annual revenue to its wholesale division.
Insurers Urged to Provide Flexible Auto Insurance Options to UK Students
Insurtech company Cuvva is urging the insurance industry to make their coverage options more flexible for UK students travelling back home for Christmas.
Framework for Better Comparative Ratings
For insurers that wish to compare their quotes with competitors, existing platforms and tools are insufficient.
Insurtech bolttech Enters Ireland via Partnership with Three Ireland
Hong Kong-headquartered insurtech firm bolttech is expanding into Ireland after sealing a device protection partnership with telecoms operator Three Ireland and CKH Innovations Opportunities Development.
Insurtechs Ignatica, DouBao, EasiTech to Develop Sales platform for Asian Insurers
The agreement brings together EasiTech’s front-end, customer-facing platform with Ignatica’s back-office technology to accelerate the development and launch of new insurance offerings across the region.
Covid Sparks Spike In Usage-Based Car Insurance
Among the myriad changes triggered by the Covid-19 pandemic is the sharp spike in a form of auto insurance that can greatly reduce premiums, especially for the millions of drivers who no longer commute since they’re now working from home.
Aviva Names International Chief Executive
Aviva Plc will be welcoming a returning alumnus in the form of Adam Winslow, who is assuming the newly created role of international chief executive in 2021.
simplesurance Raises €15 Million
Berlin-slash-Tokyo-based cross-selling insurance platform simplesurance has raised a €15 million convertible loan from Allianz X, a current investor in the company.
Swiss Re’s Kleiterp Urges Re/Insurers to Share Tech Insights
Fred Kleiterp, Regional CEO for the EMEA region at Swiss Re Corporate Solutions, has expressed optimism about the prospects for the global re/insurance industry if it is able to “work together and share technology to innovate.”
French Insurtech Startup Luko Locks in €50 Million Series B led by EQT Ventures
French insurtech company Luko has raised €50 million in Series B funding led by EQT Ventures. Existing investors Accel, Founders Fund and Speedinvest also participated in the round, alongside angels with insurance and technology backgrounds, including Assaf Wand, the CEO and co-founder of US unicorn Hippo Insurance.
Sapiens Joins Forces with LifeScore Labs to Innovate Life Insurance Underwriting
The partnership will bring machine learning models to life insurers’ mortality risk assessment, boosting accuracy and reducing underwriting costs
3 ways AI can transform auto insurance customer experience
It’s safe to say we have our physician, babysitter, personal trainer and dog walker on speed dial. But it’s unlikely that the average auto insurance customer knows the right number to call to reach their carrier in the chaotic moments following an accident.
How Insurers Can Achieve Greatness
If insurers can summon the will to protect the public by providing disposable face masks, then insurers will achieve greatness.
Is this the Future of Motor Insurance Claims in the Gulf?
Braxtone Group unveils new motor claims recovery platform after graduating from regulatory sandbox of Bahrain Central Bank.
AXA Targets Stronger Underwriting Performance, Accelerated Efficiency
Global insurer AXA is targeting a stronger underwriting performance, notably at AXA XL, over the next few years as part of its strategic plan “Driving Progress 2023”.
Travelers to Acquire Insurtech to Expand Personal Insurance Business
Travelers announced Thursday that it has agreed to buy InsuraMatch, a digital independent insurance agency, to help the insurance giant expand its personal insurance portfolio.
Insurtech Startup Artivatic.ai Raises Bridge Funding from Scale Ventures and IAN
Artivatic.ai, an asset-light insurtech and healthtech startup, has raised bridge funding led by Scale Ventures and existing investor IAN. The funding proceeds will be utilized by the startup for research and development by investing in cutting-edge technology solutions, especially aimed at scaling sales and delivery.
Ex-Arch, Axa XL Executives Start Private Equity-Backed Insurer
An insurance venture led by industry veterans Greg Hendrick and Dinos Iordanou is starting up with $1 billion in equity capital provided by Carlyle Group Inc., Hellman & Friedman LLC and management.
Who Is Liable When a Driverless Car Crashes?
How should insurers think about the liability for AVs? Using history as a guide, it’s possible to make reasonable guesses at some of the answers.
Concirrus Automates Digital Portfolio Management for Marine Insurance
Leading Insurtech, Concirrus has announced a fully automated, algorithmically driven underwriting application for Marine Insurance.
Inigo Obtains Lloyd’s Approval Ahead of 1/1; Hires Stratts to Lead First Party
New specialty insurer and reinsurer, Inigo Limited, has now received approval in principle from the Corporation of Lloyd’s and will start writing business for 2021, the company has confirmed.
Generali CIO on How Insurers can Make their Digital Transformation Work
In insurance, as in so much of life, timing really is everything. This has only become clearer during the COVID-19 pandemic which saw those companies which had already embraced remote working and digital communication channels reap the rewards of this investment when lockdown hit.
Madrid-Based Insurtech Asistensi Raises $3 Million
Asistensi receives the support of Mundi Ventures and Mountain Nazca to accelerate its international expansion.
Matic Raises $24M in Series B Funding Round
Matic, a leading digital insurance agency, announced today the close of a $24 million funding round led by IA Capital.
Capco Expands Insurance Reach by Acquiring NEOS
Specializing in working with clients that offer life, annuities, retirement, employee benefits, and property and casualty insurance, NEOS provides consulting and delivery services to solve its clients’ strategy, operations, data, and technology challenges.
DocDoc Partners with SpesNet to Offer Cashless & Integrated Claims Processing Solutions to Insurers
Under the agreement, DocDoc will integrate SpesNet’s digital TPA technology with DocDoc’s telemedicine platform and AI-powered doctor discovery platform.
Chubb and Nubank Launch Digital Life Insurance Offering in Brazil
Nubank and Chubb announced the launch of a fully digital life insurance offering called Nubank Vida in Brazil; in other words, here’s another digital bank entering insurance.
Tesla, GM, Amazon: Industry Intruders that Insurers Need to Keep an Eye On
It’s not just tech behemoths who are invading the turf of insurers these days and giving the industry a run for its money.
Surging Costs of Cyber Claims
With home-working widespread because of COVID-19, security around access and authentication points is critical.
Aon Launches Digital Cyber Insurance for Small and Middle Market Businesses
Aon, a global professional services firm providing risk, retirement and health solutions, announced the launch of a digital insurance solution for small and middle market businesses.
InsurTech is Helping to Drive the Digital Evolution of the UK Motor Retail Industry
If the last nine months have made anything clear, it is that the pandemic has fundamentally changed both buying and driving habits for UK motorists. The latest Tempcover research has revealed that online-only used car sales had increased fifteen-fold during the pandemic among 2,000 survey respondents.
Metromile to Go Public via SPAC in $1.3 Billion Deal
Insurtech Metromile announced Tuesday that it is the latest fintech to go public via a SPAC (special purpose acquisition company) at a valuation of $1.3 billion.
Smart Contracts in Insurance
Smart contracts will likely be used first for simpler insurance processes like underwriting and payouts, then scale as technology and the law allow.
Bestow to Buy Centurion Life Insurance From Wells Fargo
Bestow has agreed to buy Centurion Life Insurance, becoming the latest insurtech to scoop up an insurance carrier.
StartupCare Launches Health Platform “bluum”
Insurtech company StartupCare announced the launch of new health platform bluum, offering curated medical insurance plans and health services. Founded in 2018, StartupCare provides SMEs and startups with group medical solutions.
Arthur J. Gallagher & Co. Acquires North Star Insurance Services and North Star Marine Insurance Services
Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Seattle-based North Star Insurance Services, LLC and Fairhaven, Mass.-based North Star Marine Insurance Services, LLC.
Re/Insurers Misjudged Pandemic Response: Swiss Re’s Mumenthaler
According to Swiss Re CEO Christian Mumenthaler, the re/insurance industry vastly underestimated the cost of a global pandemic due to its failure to account for the extent of government lockdown measures.
10 Steps to Achieving Insurance Data Literacy
Peter Jackson, Legal & General: When I was asked to write an article on big insurers and their digital transformations, I had to hit the pause button right from the outset to make the clear, if underappreciated, distinction between digital literacy and data literacy.
Neptune Flood Expands Products to Remaining Five US States
Neptune Flood, an insurtech firm focused on the flood market, has expanded its residential products to the remaining five additional states, Montana, South Dakota, Utah, Vermont, Wyoming, and Washington, DC.
A New Industry Model for Insurtech
Insurance companies should pay close attention to insurtechs—not because they’re coming to attack, but because they’re coming to collaborate. For established insurers, insurtechs can be digital enablers that drive the adoption of digital technologies along the value chain.
IMS Launches Toolset to Enhance Usage-Based Auto Insurance
Ontario-based Insurance & Mobility Solutions (IMS) is launching a new set of configurable tools, which allow insurers and mobility operators to expand the ways they can interact with usage-based insurance (UBI) customers.
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