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Lloyd’s Eyes £800m Cost Savings with ‘Revolutionary’ Blueprint Two
Lloyd’s has set out the next phase of its transformation plan via its Blueprint Two in a bid to “build the most advanced insurance marketplace
To Build or Buy Insurance Tech? Brokers Have Their Say
Do we build or do we buy? It’s the question that all insurance brokers must ask themselves when working out their digital strategy. There are
Allianz Partners Sweeps Up Seven Magellan Awards
Travel Insurance and Assistance Company Wins Four Gold Trophies, Most of Any Travel Insurance Provider Allianz Partners has been awarded seven trophies, the most of
How AI Powers Customer Contacts
Existing and prospective customers now expect prompt, appropriate answers via the channel of their choice, or they may look to your competitors. For insurance carriers,
AXA Confirms Capital Injection for XL Business
Global insurer and reinsurer AXA has confirmed that it will provide a capital injection of potentially €1 billion to its AXA XL unit to shore
Transforming the Claims Space
Paying claims needs to be the default, with AI and analytics ensuring that adjusters spend their time more valuably and have more interesting work. Fundamentally,
The Evolution of Telematics Programs
Interest in pay-as-you-drive or pay-per-mile policies has increased in 2020 as more Americans are working from home. Thirteen years after Progressive launched Snapshot, its usage-based
Aviva Reveals What’s on the Mind of Insurance Brokers
Most British brokers predict a dip in business performance brought about by continued economic decline and hardening of the market, a new study from Aviva
The Future of Underwriting: The Final Handoff
There’s one more step to the underwriting journey—one that too many carriers neglect. The forgotten finish What happens when the broker or customer accepts
Sapiens Launches IDIT Go, a Cloud-Based, ‘Plug ‘n Play’ P&C / General Insurance Solution
IDIT Go enables insurers to go-live in just a few months and quickly launch new offerings, empowering insurers to stay ahead of ever-changing market needs
Bucking COVID-19, Big Insurers Invest More in Insurtech Than Ever
Insurtech funding rose 52% from the second to third quarter, according to CB Insights’ State of Fintech Q3 2020 report. Funding reached $2.56 billion in
London Reports “Fascinating” Rise in Premiums from US Businesses
London has seen a sharp rise in premium volumes coming from the US this summer, a recent survey from the London & International Insurance Brokers’
AXIS Insurance Taps Three New Underwriters
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has announced that it has appointed three new underwriters to its US renewable energy
Eight Key Insights Into Independent Agencies’ Digital Technology Adoption
Independent insurance agencies with a well-planned and implemented digital strategy stand a much greater chance of success in today’s tech-heavy, app-happy society. Things have been
Chewy Launches Telehealth Service for Pets
Pet e-commerce company Chewy launched a telehealth service called “Connect With a Vet,” that allows pet parents and veterinarians to leverage the company’s proprietary tele-triage
How Tech Investments Yield Innovation for Insurers
Insurers who are prepared and who manage their IT investments with a business mindset of ecosystem integration will be prepared to convert these challenging days
Zego Introduces New Combined Car Delivery Insurance
London-based provider of pay-as-you-go insurance Zego now offers 30-day and Annual combined car delivery insurance policies to delivery drivers working across the UK. Before launching
Sun Life Partners with API Platform Noyo
Sun Life Financial has partnered with Noyo, an API platform for improving the speed and accuracy of health insurance data exchange. Building on its digital
Newly Launched Speciality Broker NARDAC to Open London Office
Specialist energy and infrastructure insurance broker NARDAC is set to open a London office led by Peter Draper, the former international property director at AFL.
How Health Ecosystems Drive Insurance Customers for Life
Insurers have traditionally looked to develop new products and improve operational efficiency to remain competitive. While those remain important elements of any business model, the
Asia: Latest Source of Opportunities
Think of giants like Ping An; innovations such as TenCent’s Waterdrop; and ecosystem plays such as Rakuten. We often get asked where you should go
Prudential Retirement Enters Funded Reinsurance Business
Prudential Retirement, a business unit of Prudential Financial, is expanding its global longevity reinsurance business with a new offering. Prudential’s first transaction in the emerging
UK’s Marshmallow Raises $30M on a $310M Valuation for More ‘Inclusive’ Car Insurance
When it comes to using algorithms and other formulae to determine what kinds of services you might offer to specific customers and at what price,
Applied Systems Names InsurTech Veteran Reid Holzworth IVANS CEO
The TechCanary founder will lead the expansion of the IVANS strategy and all business functions to accelerate the digitization of agency-insurer-insured connectivity and analytics solutions.
How Health Insurers Attract Generation Z
Next generation’s buying power will be defined by the first generation that grew up in an entirely digitized society: Gen Z. Therefore, creating mobile apps
What Does the Post-Recession Future Hold for Insurers?
How does the insurance industry gear for recovery while still operating in the challenging context of COVID-19? Is it possible? This is not the first
Driving Into the Future of Telematics
Connected vehicles, and their shared language of data delivered through an exchange, are the future of telematics. Roadblocks exist for a reason. While often viewed
Guy Carpenter Launches New Marine & Energy division
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has announced the launch of a new Marine & Energy mutual, agency and captive reinsurance solutions
The Uber of Insurance
Around 2015-2016, at the beginning of the ‘insurtech movement’, several media outlets were occupied with predicting who will be the Uber of insurance. Also, around
Skan Secures $14 Million Series A to Expand AI-Driven Process Discovery Solutions
Through a round led by Cathay Innovation, the firm seeks to enable the digital transformation of the enterprise in insurance, financial services and other industries.
Human API Raises $20M+ Funding to Scale Consumer-Controlled Health Data Ecosystem
The Series C funding will be used to accelerate innovation by giving consumers a cutting-edge means of sharing health data with the enterprises and researchers
Pandemic Shifts InsurTech Investment Priorities
Total InsurTech investment in the first three quarters of 2020 appears as robust as last year’s record levels. Despite the COVID-19 pandemic and its economic
Why It’s a Good Time for Insurtechs to Be Thinking About Mergers
The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead,
Tractable’s AI Solution to Save Adjusters 360,000 Hours Annually
Property and casualty insurer MS&AD Insurance Group Holdings will adopt Tractable’s artificial intelligence (AI) solution across Japan in a bid to fast-track auto claims and
State of Commercial Insurance Market
Every company today is different than it was six months ago. All risk profiles have likely changed. In a survey of frequent Out Front Ideas
Assurely Closes Seed Round to Expand Insurance-as-a-Service Offerings
The investment round will be used to recruit top-tier talent and aggressively expand Assurely’s technology infrastructure and to bring more products to market rapidly. Assurely,
AXIS Insurance, Kennedys Law Launch Marine Cyber Product
Specialty insurer AXIS Insurance and Kennedys Law have collaborated on services for AXIS’ new marine cyber insurance product. This product offers coverage for the marine
Let Business – Not Technology – Set Your Cloud Agenda
Insurance companies can substantially improve the benefits they gain from cloud computing if they align their business needs with the products and services offered by
5 indemnity Technology Trends Transforming the Industry in 2020
Technology is taking over the insurance industry like any other industry. Advanced insurance technology now centres the industry to benefit both carriers and insureds. Seeking
Goodcover Raises $7.5 Million Series A
San Francisco-based renters insurance MGA Goodcover has raised $7.5 million in Series A financing led by Goodwater Capital, with participation from Fuel Capital, Broadhaven Ventures,
Mercedes Bets on Evolution as Tesla Touts Revolution in Automated Driving
As Tesla touts the cutting-edge nature of its new Full Self Driving software, rival Mercedes-Benz says it has developed a similar system but stops short
Hiscox UK Appoints COO
Specialist global insurer Hiscox has appointed Louise Marling as new chief operating officer (COO) for the UK business. Marling joined Hiscox UK in December 2019
The Future of Underwriting: Collaborative Proposals
The insurance quoting process has changed shockingly little across the history of the profession. Back in the 1800s, carriers would deliver quotes via mail or
Superscript Raises Further £8.5 Million to Scale its Small Business Insurance Offering
Superscript, the business insurance challenger, has announced a new £8.5 million fundraise, led by existing investor, BHL Holdings, alongside investment from the Government’s Future Fund,
Arturo Delivers Insights Across Nearly 9 Million Australian Properties
Arturo, the leading provider of AI-powered residential and commercial property insights and predictive analytics, today announced the delivery of nearly 9M AI generated property characteristics
Zywave Expands CPQ Offering with Introduction of Commercial Quoting
New commercial solution quickly delivers direct quotes across multiple carriers, through integration with Semsee’s automated commercial quoting solution. Zywave, a Milwaukee, Wisc.-based provider of SaaS
Property Claims: It’s Time for Innovation
Those that solve for the dynamics of the many opportunities are likely to be the future industry leaders. The personal and commercial property claims process
Revolutionising Nigeria’s Microfinance Landscape Through Insurtech
In 2012, Nigeria launched a National Financial Inclusion Strategy (“NFIS”) in which it aimed at reducing the percentage of adult Nigerians that are excluded from
Insurtech Fundraising Hits $2.5bn in Q3: WTW
Re/insurance broker Willis Towers Watson (WTW) has reported that insurtech firms raised a total of $2.5 billion across 104 deals during the third quarter of
Just Paying for a Claim is Not Enough: AXA CEO, Thomas Buberl
The events of 2020, notably the ongoing COVID-19 pandemic, are set to fundamentally alter the way insurance will be viewed and as sentiment shifts, just
Fabric Raises $18 Million in Series B funding
Brooklyn-based life insurance provider Fabric Technologies announced it has raised $18 million in Series B funding, led by CNO Financial Group. The funding round was
Swiss Re Joins Global Health Coalition, Opens Up Data & Analytics Platform
Global reinsurer Swiss Re has joined a global coalition that aims to better predict and prevent outbreaks, epidemics and pandemics by leveraging data and analytics.
Car Insurance Startup Root Raises $724.4 Million in IPO
Automobile insurance startup Root Inc sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4
Claims, Capacity and COVID: Welcome to M&A Insurance in 2020
Deals are still getting done during the pandemic. But they’re coming with increased frequency of claims notifications. The mergers & acquisitions market is challenging for
Unlocking AI’s Potential for Social Good
New developments in AI could spur a massive democratization of access to services and work opportunities, improving the lives of millions of people around the
Insurtech Ladder Expands Reinsurance Relationships with PartnerRe Alliance
Bermuda-based reinsurance company, PartnerRe, has entered into a new partnership with life insurance focused insurtech, Ladder. Ladder was established in 2015 and offers technology-driven insurance
Santander Partners with Aviva to Deliver Home Insurance Quotes to Customers in Half the Time
Customers looking for a home insurance quote will now receive a price from Santander UK in less than half the time, as it introduces a
Slice Labs and AXIS Insurance Collaborate to Bring Home Based Business Insurance to Small Businesses
Slice Labs Inc., a technology startup with the first on-demand insurance platform, has created an alliance with AXIS Insurance to distribute AXIS Home Based Business
Willis Re completes $100mn ILS Deal for Minnesota Life
In collaboration with Willis Re, Willis Re Securities says it has structured and placed $100 million of insurance-linked securities (ILS) for Minnesota Life, a life
InsurTechs Start Reaching Size and Capacity That Commands Insurance Industry Attention
The latest crop of InsurTechs began appearing in force around 2015, with promises to disrupt the insurance industry and change the world. Industry veterans have
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