Product launches

AXA XL, the property & casualty and specialty risk division of AXA, has announced a new tailored insurance solution to help clients address mass timber construction risks in North America.

The co-founder of London firm By Miles has launched a new InsurTech start-up to help insurance firms to meet the growing demand for usage-based insurance.

Reinsurance giant SCOR has announced the launch of Vitae, an automated biometric risk calculator that employs machine learning techniques.

According to the site, coverage is issued by North American Company, a Chicago-based provider of life insurance and annuities that also works with Bestow.

Bermuda-based Stable, a creator of an index insurance product for food and farming businesses around the world that automatically reimburses lost income caused by volatile prices, announced its official launch.

AmeriLife partners will now have access to Salesforce-enabled CRM systems, allowing it to better serve its clients through industry integrations that allow for real-time data access.

Global insurance and reinsurance brokerage firm, Aon, has launched a new fuel insurance solution for the shipping and aviation industries, backed by AAA-rated credit insurance.

In a move which provides investors with easier access to the specialist Lloyd’s of London insurance and reinsurance marketplace, regulators in the UK have approved the creation of a new multi Insurance Special Purpose Vehicle (mISPV).

According to S&P, The Texas Department of Insurance approved a series of filings that indicate that Tesla Insurance may soon be available in Texas in partnership with Redpoint County Mutual Insurance.

AI-powered cyber insurance provider for small to mid-sized businesses, Cowbell Cyber, has announced the availability of its excess cyber coverage line, Prime Plus.

Canadian travel insurance provider Allianz Global Assistance announced the launch of new assistance capabilities – Virtual Care services and a new online Claims Portal – which aim to elevate the end-to-end customer journey. Both services are now embedded within all products offered across Allianz’s national distribution network of broker and travel agency partners.

Founded to address the underserved sole-to-small commercial vehicle owner, Cover Whale’s process improvements created demand among large fleet owners, which its new programs are designed to address.

Lloyd’s and insurtech start-up Parsyl Inc. announced the launch of the Global Health Risk Facility (GHRF), which will provide billions of dollars of insurance coverage, together with risk mitigation services, to help protect and support the global distribution of COVID-19 vaccines as well as critical health commodities.

The world has become increasingly digital, and Nationwide has as well – modernizing its core systems and building digital experiences so it can connect seamlessly with partners and their customers.

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.

This is a comprehensive first and third-party policy designed for companies which develop or provide life science products, solutions or services.

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.

Lemonade has started selling renters insurance in France, the third European country into which it has expanded so far.

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.

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.

Under the agreement, DocDoc will integrate SpesNet’s digital TPA technology with DocDoc’s telemedicine platform and AI-powered doctor discovery platform.

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.

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 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.

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.

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.

Global insurance broker Aon has launched a personal car leasing product that includes pay-on-use insurance, giving customers the advantage of saving money when they are not driving.

Germany’s second largest direct car insurer Verti Versicherung AG announced it is now offering a new product starting at 38 euros a year to protect tenants and their assets from possible incidents that may occur in a rental home.

Insurtech business is making headway in Asia’s major markets amid changing customer expectations, the availability of financial infrastructure services, and the coronavirus pandemic, according to a recent report

Tokyo-based multinational insurance holding company Tokio Marine Holdings has applied to open a new property and casualty insurer in Canada

Car management platform Caura is set to offer its own auto coverage through the so-called “Caura Project,” said Tech Crunch. This new product is intended to make getting car insurance more affordable and streamlined

Munich Re’s HSB Canada has introduced Sensor Systems, a solution created for insurers to reduce common property claims

The solution enables automated, rapid, and sophisticated life insurance underwriting decisions about new customers, regardless of whether the potential insured has a complex history

Lloyd’s Lab and risk modelling firm Praedicat have developed a series of scenarios for the casualty insurance market in the face of the COVID-19 pandemic

SCOR Global Life, Garmin and ReMark (SCOR’s in-house InsurTech solution provider) have announced plans to expand their Biological Age Model (BAM) solution across the wider APAC region.

The Detroit auto maker aims to leverage the reams of data generated by its cars to establish an auto-insurance business

London-based insurer Vitality has announced that it has launched a new Vitality Lifestyle Assessment for its corporate member organizations

Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced the onboarding of its first trading partners to its proprietary digital platform, providing access to its algorithmic underwriting in readiness for writing business from Jan 1

German digital insurance provider Getsafe announced it is now offering car insurance through iptiQ by Swiss Re

A new South African insurtech startup, OneSpark aiming to reinvent insurance and financial products with a variety of plans catering to low-income clients has officially launched

AXA has unveiled an initiative to improve the health and well-being of its 121,000 employees worldwide

Developed within the Lloyd’s Lab innovation accelerator, the Hurricane Non-Damage parametric solution provides open-banking validation, real-time impact assessment and automated payouts while cutting claim process time up to 95 percent.

Ultrafast Acceptance Decisions lead to Rapid Customer Acquisition and Long-Term Compounding Successes for Insurers

After a 12 year break, General Motors is relaunching an auto insurance division. The new insurance unit, which will also offer homeowners insurance, operates under the automaker’s OnStar connectivity brand

Liberty Mutual Insurance’s new ErgoValuator app helps policyholders more effectively protect their workers and bottom lines from overexertion injuries, which cost employers more than $14 billion annually.

Pie Insurance, an insurtech specializing in workers’ comp insurance for small businesses, launched its API for partners.