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Lloyd’s Boosts Investment Options with Launch of Canadian Core Fixed Income Fund
Lloyd’s has announced a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform.
Norm Ai Secures US$27 Million to Advance Regulatory Compliance Platform
Norm Ai, a cutting-edge regulatory compliance platform, has successfully raised $27 million in a Series A funding round. The round was led by Coatue, with significant participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital.
Climate X Secures US$18 Million in Series A Funding
Climate risk intelligence company Climate X has raised $18 million in a Series A investment round led by Google Ventures. The funding round also saw participation from Pale blue dot, CommerzVentures, A/O, Blue Wire Capital, PT1, Unconventional Ventures, and Western Technology Investment.
James Bracken Joins Zurich North America as CFO
Zurich North America, a prominent provider of commercial property and casualty insurance, has appointed veteran insurance executive James Bracken as its new Chief Financial Officer (CFO).
Zurich to Acquire AIG’s Global Personal Travel Insurance Business for US$600 Million
Zurich Insurance Group (Zurich) has announced an agreement to acquire AIG’s global personal travel insurance and assistance business (AIG Travel) for USD 600 million, with an additional potential earn-out payment. The move will also boost Zurich’s position as a leading travel insurer in the US and globally
Flow Specialty Launches AI Vision, Becoming Sole Brokerage with Full Agentic AI Integration
Flow Specialty, a next-gen specialty wholesale insurance brokerage, has publicly released its AI credo and vision. The initiative aims to educate the insurance industry on the application of agentic AI in offering professional liability, management liability, and cyber insurance products.
Beazley Security Goes Live
Beazley Security has today gone live as an integrated cyber risk management company, following the merger between Beazley’s in-house cyber services team and its wholly owned cyber security company, Lodestone.
APOLLO and Rhapsody Property Management Services Partner to Offer Digital Insurance to Residents
APOLLO Insurance, a pioneering digital insurance provider in the embedded finance sector, has announced a partnership with Rhapsody Property Management Services. The collaboration aims to deliver instant digital insurance solutions tailored for tenants across Canada.
Flock Announces Partnership with Admiral
Flock, the London-based commercial car insurtech, has announced a new partnership with Admiral Pioneer, Admiral Group’s venture-building subsidiary. The collaboration aims to “transform UK fleet insurance with advanced technology and real-time risk management solutions.”
Cytora announces Partnership with e2Value
Cytora, a leading digital risk processing platform, has announced it is partnering with leading provider of property valuation solutions e2Value.
GRAIL Completes Spin-Off from Illumina, Launches Groundbreaking Cancer Screening Technology
GRAIL, Inc. , a leading healthcare company dedicated to early cancer detection, has announced the completion of its spin-off from Illumina (NASDAQ: ILMN). GRAIL will be listed and commence regular-way trading on the Nasdaq under the symbol “GRAL.”
Trustfull Launches Product to Tackle Synthetic Identity Fraud
Trustfull, a digital risk management and intelligence firm, has launched a new product: Silent Onboarding, which aims to bolster defences against the increasing threat of synthetic identity fraud.
IBISA Raises $3 Million to Scale Parametric Solutions in Asia and Africa
IBISA, the global climate insurtech, has successfully raised $3 million to scale its parametric insurance solutions for weather-related risks in Asia and Africa.
COGITANDA Expands Offering in Germany and Austria
COGITANDA, the cyber specialists, has announced the expansion of its product offering to now cover companies with annual revenues of up to €250 million in Germany and Austria.
Qover Launches AI-Powered Embedded Insurance Solution to Transform Claims Management
Qover, a pioneering insurtech company committed to establishing a global safety net through innovative insurance solutions, today announced the launch of its AI-driven embedded insurance platform.
FloodFlash Expands Coverage Across Entire Mainland USA
FloodFlash, a sensor-enabled parametric flood insurance provider, has announced the expansion of its offerings to cover all mainland US locations.
Axis Launches New Cyber Incident Commander
Axis Capital has announced the launch of a new service for US-based direct primary cyber insurance customers.
Madanes Implements Novidea’s Cloud Insurance Management Platform
Novidea, a leading provider of cloud-based enterprise insurance management solutions, has announced that Madanes Insurance Agency, a prominent broker, has successfully implemented its insurance platform.
PCF Insurance Completes Four Strategic Acquisitions
PCF Insurance Services, one of the top twenty US insurance brokers operating across 40 states, has announced the acquisition of four key agencies: Ignitist in Pennsylvania, The Brady Agency in North Carolina, Roseberry Insurance Agency in Mississippi, and The Sinnott Agency in Iowa.
Gallagher Re Launches Cyber Academy
Gallagher Re, the global reinsurance broker, has launched a flagship Cyber Academy, where the most promising individuals in the cyberspace will receive comprehensive and bespoke training in broking, cyber security, and analytics.
Trawick Launches College Insurance for Foreign Students in the US
Trawick International, the worldwide travel insurance specialist, has announced the launch of a new portfolio of international student insurance plans, effective immediately.
Howden Report Finds Insurance is Critical to Financing the Climate Transition
A new report from Howden has found that more than 50% of the $19 trillion committed to financing the transition to net zero through to 2040 will require additional insurance capacity.
Verituity Raises $18.8 million To Transform Verified Payments
Verituity, a leading innovator in verified, intelligent payments, has successfully closed out an $18.8 million funding round.
BCIC Launches the Caribbean’s First Omnichannel Insurance Ecosystem on EIS SaaS Platform
The British Caribbean Insurance Company (BCIC), a leading provider of general insurance in the Caribbean, has unveiled the region’s first omnichannel insurance ecosystem.
Humata Raises $25 Million To Advance Prior Authorisation
Humata Health, a healthcare company specialising in frictionless prior authorisation payments for payers and providers through AI and automation, has successfully raised $25 million.
TEN Trends Transforming Insurtech in 2024 and Beyond
The Insurtech sector is undergoing a rapid transformation, driven by advancements in AI, IoT, data analytics, and blockchain.
ForMotiv Partners with Friss Combatting Fraud
ForMotiv, a provider of behavioural solutions for P&C and life insurance, has announced a partnership with FRISS, a global provider of automation solutions to the insurance industry.
Zesty Announces Partnership With Duck Creek
Zesty AI, a leading provider of climate and property risk analytics driven by AI, has announced a partnership with Duck Creek Technologies, an intelligence core systems provider in P&C and general insurance.
Ledgebrook Launches New Architects and Engineers Product
Ledgebrook, the US insurtech MGA, has announced it is expanding its offerings with a new architects and engineers (A&E) insurance product.
Exploring Disaster Response in Insurance with MIS’s Daniel Grimwood-Bird
As climate events hit the insurance industry through escalating losses, Daniel Grimwood-Bird, Head of Sales & Marketing for McKenzie Intelligence Services, talks to Insurtech Insights about the role of Disaster Response and it’s future in the insurance industry
Blueprint Two Phase One Digital Services Postponed to Ensure Safe Cutover
Lloyd’s and Velonetic have announced a postponement of the cutover to phase one of their digital services, originally scheduled for October 2024.
Kinetic Raises $21 Million Series B
Kinetic Automation, an infrastructure company delivering digital maintenance and servicing for EVs and AVs, has successfully closed a $21 million Series B funding round.
Why First Notification of Incident (FNOI) is Transforming Proactive Responses to Major Global Events
Daniel Grimwood-Bird, Head of Sales & Marketing at McKenzie Intelligence Services (MIS), discusses why First Notice of Incident (FNOI) – rather than First Notice of Loss (FNOL) is changing the game when it comes to claims processing.
Goose Rebrands To SmartBunny in U.S.
Goose Insurance Services, an insurtech known for offering instant insurance solutions, has announced its rebranding in the U.S. with the launch of a new app, SmartBunny Insurance.
One80 Launches Insurance For Chief Restructuring Officers
One80 Intermediaries has announced the launch of a new liability insurance policy specifically aimed at Chief Restructuring Officers (CROs).
Keystone Agency Partners Acquires Keystone Insurers Group in Strategic Expansion
Insurance brokerage platform Keystone Agency Partners (KAP) has signed a definitive agreement to acquire the independent agency network Keystone Insurers Group.
CompScience Launches SafetyBriefAI App to Transform Job-Site Safety for Insurance Brokers
CompScience Insurance Services has launched its latest innovation, the SafetyBriefAI App, aimed at transforming job-site safety management for insurance brokers.
infineo Tokenizes $9 Million First Ever Life Insurance policy
Infineo, an insurtech seeking to digitise the $3 trillion life insurance market through blockchain and AI technologies, has announced it has transacted the first-ever tokenised life insurance policy.
Fusion Specialty Expands Partnership with HDI into Americas
Fusion Specialty has announced it is expanding its partnership with HDI Global Specialty SE into the Americas. The partnership will offer increased capacity for representations and warranties, contingent insurance, and tax lines.
Cytora Announces Partnership with ChAI
Cytora, the digital risk processing platform, has announced it is partnering with ChAI, an AI-powered market intelligence and commodity pricing forecaster, aiming to help insurers navigate uncertain market conditions.
Case Study: Instabase
“We won one of our largest customers, a seven-figure deal with a top five insurance logo, from Insurtech Insights”. Bastiaan de Goei and Saurabh Saini
ARC Receives $27 Million from Dutch Government
African Risk Capacity (ARC) has announced it has received a $27 million contribution from the Dutch Government to help boost climate resilience in Africa and further promote parametric insurance across the continent.
Chexy Secures $3 Million Seed to Disrupt Canadian Rental Market
Chexy, a Canadian startup which allows renters to pay their rent online whilst earning rewards and building credit, has announced it has raised $3 million in a seed round.
Rainbow Announces Partnership With Agentero
Rainbow, a leading provider of insurance solutions to restaurants, has announced it is partnering with Agentero, the digital insurance network.
Pikl Announces Expanded Partnership with Prestige and Aviva
UK-based insurtech Pikl has announced it is partnering with Prestige Underwriting, backed by Aviva, in a move that will see Pikl transfer its existing UK MGA capacity for its specialist vacation rental insurance cover into this new expanded facility.
Chrysalis and Target Propose €25 million Wefox Rescue
Two of Wefox’s leading investors have proposed a €25 million capital investment to thwart rival insurer Ardonagh’s bid to buy significant parts of the company.
Appian and PwC UK Forge Alliance to Drive Innovation in the Insurance Sector
PwC UK achieved a 30% improvement in claims lifecycle efficiency through the implementation of the Appian AI Process Platform.
Zurich Acquires US$670 Million Majority Stake in Kotak General Insurance to Build Leading Insurer in India
Zurich Insurance has announced the acquisition of a 70% stake in Kotak Mahindra General Insurance Company Limited (“Kotak General Insurance”), marking a significant milestone as the first foreign insurer to enter India since the foreign direct investment (FDI) rules were amended to allow up to 74% foreign ownership in 2021.
AI Shortens Hiscox Underwriting Journey from 3 days to 3 minutes
Hiscox has managed to shorten its lead underwriting process for the London Market sabotage and terrorism book from three days to just three minutes through the incorporation of Generative Artificial Intelligence.
Verisk: Flood Losses in Southern Germany Could Reach US$3.9 Billion
A relatively high proportion of the overall losses for the event are likely to be insured, owing to the high insurance take up for the flood peril
ZA Tech Rebrands as Peak3 and Raises US$35 Million Series A Led by EQT
ZA Tech, a next-generation insurance core system SaaS provider, has rebranded as Peak3 and has also announced the completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures.
Bikmo Announces Partnership with Trek
Bikmo, a specialist cycling insurer, has announced it is partnering with Trek, becoming their Retail Stores’ official insurance provider across the UK, Germany, and Austrian markets.
CAPE Announces Partnership with Vexcel, Boosting Imaging Capabilities
CAPE Analytics, a leader in AI-powered property insights for insurance and real estate risk, has announced it is partnering with Vexcel, a leader in aerial imaging.
John Hancock Offers Discounted Prenuvo Whole-Body MRI Scans, a First in the Life Insurance Industry
John Hancock, a unit of Toronto-based Manulife, announced today that it is the first life insurer in the U.S. to offer discounted access to Prenuvo’s state-of-the-art whole-body MRI scans to eligible John Hancock Vitality customers.
Generali Appoints Cécile Paillard as New Group Chief Transformation Officer
Generali has announced the appointment of Cécile Paillard as Group Chief Transformation Officer, effective September 2, 2024.
Stellantis Announces Partnership with Bolt
Stellantis, the captive automotive finance company, has announced it is partnering with insurtech bolt.
Kita Partners with Wilder Carbon Delivering “Industry-First” Policy
Kita, the specialist carbon insurance company, has announced it is partnering with UK-based carbon standard, Wilder Carbon, creating an insurance policy for a buffer pool, in what is believed to be an “industry first”.
OpenRoad Insurance Implements Majesco’s Intelligent Core Suite to Drive Growth
OpenRoad Insurance has selected and implemented Majesco’s P&C Intelligent Core Suite, Digital Customer360, and Digital Agent360.
Consilium Establishes Credit and Political Risk Division
Consilium, the global Specialty Re/Insurance Broker, has announced it is entering the credit and political risk insurance market.
Columbia Announces Partnership with Guidewire
Columbia Insurance Group has announced it is partnering with Guidewire, utilising their advanced software solutions to enhance their customer platform.
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