Technology
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.
Californians Face Increasing Struggles to Obtain Auto and Home Insurance
Auto insurance in California is becoming increasingly difficult to obtain, as insurance agents report challenges in finding quotes for clients who would have easily secured coverage just a year ago, news reports states.
CogniSure AI and Federato Partnership set to Revolutionise Commercial Lines Underwriting
CogniSure AI, a leading provider of cutting-edge insurance document extraction and analytics solutions, has joined forces with Federato, the pioneering RiskOps underwriting platform for Property & Casualty (P&C) and Specialty insurance.
Hong Kong Could Soon Overtake London, Singapore, Tokyo as International Insurance Hub
Hong Kong could surpass London, Tokyo, and Singapore as the international insurance hub, industry experts predict in latest report.
bolttech, BNP Paribas and Back Market Forge New Partnership
BNP Paribas Cardif, bolttech, and Back Market have announced a collaboration to offer an ambitious upskilling programme for the repair industry within the insurtech sector.
AIB Joins Forces with Great-West Lifeco to Launch AIB Life
AIB (Allied Irish Banks) and Great-West Lifeco have joined forces to launch a new technology-led joint venture called AIB Life.
Intelligent AI Solves US$433.8 Billion Commercial Property Underinsurance Problem
Intelligent AI, a UK-based startup, says its new data-driven platform has solved the US$433.8 billion commercial property underinsurance problem, and has issued a public statement detailing the triumph
Global Air Travel Resumes, But Airlines Struggle to Meet Demand, Reports Cover Genius
According to a recent report by Cover Genius, overall traveller numbers are expected to reach a staggering 4.0 billion in 2024, surpassing pre-COVID-19 levels.
Howden Strengthens Marine Offering with Acquisition of Northern Lloyd
Global broker Howden has bolstered its marine business by acquiring Bremen-based broker Northern Lloyd, a renowned player in Northern Germany’s marine insurance sector.
Zywave honours top cyber risk performers
Insurtech provider Zywave recognised top performers in the cyber risk industry at the 10th annual Cyber Risk Awards on Thursday. The event took place at Gotham Hall in New York City.
Transforming PropTech and InsurTech: Lexasure collaborates with Qornerstone on new insurance solutions
Lexasure Financial Group Limited, a key player in the InsurTech market across South and Southeast Asia offering reinsurance, insurance, and tech solutions, along with Qornerstone, an innovative PropTech firm revolutionising property management, have recently unveiled a memorandum of understanding to develop a strategic partnership.
Eigen Technologies Announces Launch of New GPT Integration
Eigen Technologies has announced the launch of its new integration with GPT via its no-code AI-Powered platform.
AXA Adopts the CoverGo Platform to Enhance Health Claims Processes
AXA has announced it is adopting the CoverGo platform to enhance health claims processes and elevate customer experience
ITI USA 2023 Holding Expert Panels to Deep-Dive AI
Insurtech Insights USA 2023 is holding a series of in-depth expert panel sessions, exploring the impact of AI on the insurance industry.
LEADERSHIP SPOTLIGHT: Lee Shavel, CEO of Verisk, talks data, inflation and technology
As President and CEO of Verisk – one of the world’s leading data analytics insurtechs, Lee Shavel has taken a radical approach to company leadership since his appointment in 2017.
Novidea’s CEO Roi Agababa talks Funding and the Future
Israeli insurtech Novidea just raised US$50 million in investment capital and is scaling fast. CEO and Founder, Roi Agababa tells us more
What Does the AI Revolution Actually Mean for the Insurance Industry?
Earlier this month, Chubb CEO Evan Greenberg blew up social media channels when he announced that the insurance giant will be rolling out AI at scale, following extensive experimentation of the technology.
AXA, Chubb, Zurich & Allianz are Leading Growth in the Specialty Insurance Market
The specialty insurance market is gaining popularity globally, and is predicted to grow at a CAGR of 10.6% from 2022 to 2031 with top players like Allianz, AXA, Chubb, and Zurich leading the expansion.
Cowbell Reveals that 90% of SMEs Underestimate the Cost of a Cyber Attack
Cyber insurance provider Cowbell has released its Cyber Round-Up: Q2 2023 report, revealing that 90% of small and medium-sized enterprise (SME) leaders underestimate the costs of a cyber incident.
STARTUP STORY: AgentSync’s Jenn Knight and Niji Sabharwal on Launching an Insurtech Unicorn
AgentSync is one of the fastest-scaling insurtechs in the US, and is bridging the gap between innovation and compliance.
Gradient AI Launches AI-Driven Underwriting Tool, WriteSpeed
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, has launched WriteSpeed, a turnkey solution that allows workers’ compensation insurers to rapidly leverage AI-enabled underwriting, accelerating time to value.
Verisk Partners with CCC Intelligent Solutions to Drive Innovation in P&C
Verisk Analytics, Inc. and CCC Intelligent Solutions Inc. (CCC) have announced a strategic partnership to bring new innovations to the P&C insurance claims industry.
Coalition Launches New Version of its Executive Risks Insurance Products
Coalition has launched a new version of its Executive Risks Insurance products for not-for-profit organisations.
Deloitte Expands Partnership with Google Cloud to Drive Industry Delivery of Advanced AI
Deloitte and Google Cloud have announced a significant expansion of their decade-long partnership to help bring Google Cloud’s advanced Generative AI capabilities to enterprises in every industry.
bolttech Teams up with Malaysian Retail Brand AEON to Launch New All-In-One Insurtech Product
bolttech has teamed up with the Malaysian retail brand, AEON, to launch an all-in-one protection programme called AEON SAFEGUARD.
EagleView Technologies, DroneDeploy & PrecisionHawk Leading Insurance Aerial Imaging Market
DroneDeploy, EagleView Technologies, and PrecisionHawk are some of the top key players mentioned in a new report on the Aerial Imaging in Insurance Service Market.
Majesco CSO, Denis Garth, is Recognised and Awarded by InsurTech Hartford
Denise Garth, Chief Strategy Officer at Majesco, has been recognised by InsurTech Hartford with the inaugural 2023 Making Waves Award.
CogniSure AI Confirms Strategic Partnership with Underwriting Efficiency Platform Innoveo
CogniSure AI, a leading provider of insurance document extraction and analytics solutions, has announced its strategic partnership with Innoveo, a market-leading no-code platform provider, to bring underwriting efficiencies and pricing accuracy to commercial insurers.
CLARA Analytics Launches new AI Platform for General Liability Claims
CLARA Analytics, a leading provider of artificial intelligence (AI) technology for casualty insurance claims optimisation based in Silicon Valley, has launched its award-winning claims AI platform for general liability claims.
Verisk Launches XactXpert to Revolutionise Property Claims Estimate Review
Verisk, the global data analytics and technology provider, has announced the launch of XactXpert, a new rules engine integrated into its Xactimate property estimating solution.
Sayata Launches First Online Platform to Provide Multiple Miscellaneous Professional Liability Quotes
Sayata, has announced the addition of Miscellaneous Professional Liability (MPL) coverage to the Sayata platform.
Fisher Asset Management Reveals New Acquisition in Resideo Technologies
Fisher Asset Management Reveals New Acquisition in Resideo Technologies, Inc. as reported to the Securities & Exchange Commission.
EY partners up with EIS Group Inc to Launch Cloud-Native Digital Insurance Platform
Ernst & Young LLP (EY US) has teamed up with the global digital insurance platform provider, EIS Group Inc (EIS), to implement EIS’ cloud-native digital insurance platform for clients in the insurance industry.
Companies Poorly Prepared for Pending AI Regulatory Requirements, Verta Study Reveals
The vast majority of companies that will need to implement AI regulations over the next few months, are not adequately prepared to carry them out, new data reveals.
Clearcover Teams with Experian to Deliver an Embedded Insurance Solution
Clearcover, the digital-first car insurance company, has deepened its relationship with Experian’s auto insurance shopping solution to deliver a seamless embedded car insurance experience
InnSure Awarded US$6.5 Million to Fund Climate Risk Innovation
InnSure, a mission-driven nonprofit that aims to combat climate change by harnessing the power of the insurance industry, has been awarded $6.5 million by the New York State Energy Research and Development Authority (NYSERDA) to fund insurance innovators who are developing products and solutions to address climate risk challenges.
Majesco Announces New Digital Payment Offering for P&C Claims Customers
Majesco, a global leader in cloud insurance platform software for insurance business transformation, has announced a new digital payment offering for its Majesco Claims for Property & Casualty (P&C) customers.
Verisk Announces Acquisition of Krug Sachverständigen GmbH
Verisk, a leading global data analytics and technology provider, has acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider.
Swiss Re Joins Forces with Benekiva to Streamline the Claims Experience
Swiss Re and Benekiva have joined forces to revolutionise the claims experience in the insurance industry with their new Integrated Claims Management Platform.
InsurTech Funding: Five Top Investment Rounds for April 2023
Investment might be sluggish, but innovative startups with solid offerings are still attracting new capital. April 2023 saw Nayms, Capitola, YellowBird, Axle, Justos and Arma Karma attract healthy funding rounds
Nayms Hits US$80 Million Valuation Following Latest Tokenized Funding Drive
Nayms, a blockchain insurance startup, has announced a successful funding round at an $80 million valuation through a private token sale.
LexisNexis Risk Solutions Strengthens Geospatial Data Suite to Tackle Rising Property Risks for UK Insurance Providers and Consumers
LexisNexis Risk Solutions, the data, advanced analytics and technology provider to the UK and Ireland insurance market, has launched a new suite of geospatial intelligence datasets for basements, trees and windstorms to address these weather-related challenges.
US-UK Insurtech Accelerator Initiative to Launch Recruitment for First Us Cohort at Hartford Symposium
The second stage of a major transatlantic collaboration that has forged insurance industry trade links and driven innovation between the US and the UK will launch at next month’s insurance event, InsurTech Hartford Symposium
ITI USA Expert Panel to Explore the Bionic Approach to Transforming Underwriting Capabilities
Insurtech Insights USA 2023 is holding an expert panel on the ‘Bionic Approach Transforming Underwriting Capabilities’ in today’s hard market, organisers have announced.
SIX Reasons Why the UK Insurance Industry Must Embrace Further Transformation this year
The UK is facing considerable upheaval over the next few months in response to financial, political and social changes, reports suggest.
INSHUR Announces Acquisition of American Business Insurance Services as part of Expansion Strategy
Global, on-demand insurance provider INSHUR, has announced its strategic acquisition of American Business Insurance Services (ABI).
Driving Change: Insurance Innovation Strategist, Peggy Klingel, Talks Ecosystems, Diversity and Disruption
Peggy Klingel is a key figure in the insurance space when it comes to driving change and adopting innovations. Insurtech Insights caught up with her to find out more.
Cowbell Launches MooGPT – a New Collection of Cyber-Capable Tools
Cowbell, the cyber insurance provider catering to small and medium-sized enterprises (SMEs), has introduced a new collection of capabilities called MooGPT, which utilises large language models and proprietary data.
12 Biggest US Auto Insurers Embracing Tech and Going Digital
The sheer established presence of the USA’s most successful automobile insurance incumbents, is impressive. The market size, measured by revenue is expected to hit US$330.4bn this year.
Hannover Re Exits United Nations-Backed Net-Zero Insurance Alliance, Citing Commitment to Own Sustainability Goals
Hannover Re, the world’s third-largest reinsurer, has announced its departure from the United Nations-convened Net-Zero Insurance Alliance (NZIA), becoming the third major name to do so in just three weeks
At-Bay is Awarded A Rating for Financial Strength, Also Announces New CFO
At-Bay, a leading cyber and technology insurance provider, has announced that AM Best has awarded At-Bay Specialty Insurance Company a Financial Strength Rating of A- (Excellent), with a “stable” outlook.
Safe Security Raises US$50 Million Series B Round for AI-Driven Platform to Manage and Mitigate Cyber Risk
Safe Security, the leader in AI-based cyber risk management SaaS platforms, today announced the close of a $50 million Series B round led by Sorenson Capital, with participation from Eight Roads, venture capital arm of Fidelity Investments, Telstra Ventures, WTI, and all existing investors.
Allianz Trade Expands XoL Services in Europe, APAC and LATAM
Allianz Trade, the world’s leading provider of trade credit insurance, is expanding its Excess of Loss (XoL) teams in Germany, Asia Pacific, Spain, and Brazil.
Pathpoint Announces Expansion of its Commercial Property Offering via Vave
Pathpoint has announced the expansion of its Commercial Property offering. The expansion centres around the addition of Vave’s commercial property product to Pathpoint.
EY and IBM Expand Quantum Computing Alliance
EY and IBM has announced that EY Global Services Limited will be joining the IBM Quantum Network, in a bid to further enable EY teams to explore solutions with IBM that could help resolve some of today’s most complex business challenges.
4 Ways AI Can Benefit the Insurance Industry
Advancements in technology have given new life to the slow, inefficient processes common in the insurance industry, says Agentsync
Anansi Partners with Wowcher; Embeds Digital Insurance into their Shipping Process
Anansi partners with Wowcher to embed digital goods-in-transit insurance into their shipping process
Travel Insurtech Koala Raises US$2.1 Million in Latest Funding Round
Koala, a Paris-based insurtech startup specialising in travel insurance technology, has successfully raised US$2.1 million in a recent funding round.
Lloyds Selects 13 Insurtechs for the 10th Cohort of its Innovation Hub
Lloyd’s has unveiled the 13 insurtech firms that will participate in the 10th cohort of its innovation hub, the Lloyd’s Lab.
Cover Whale Partners with TrustedChoice.com to Provide Coverage to Truck Drivers
Cover Whale has announced its latest strategic partnership with TrustedChoice.com
Channelling Genius: Coalition CEO Joshua Motta Talks Career Paths, Cyber and the CIA
Joshua Motta is the founder and CEO of the cyber insurtech Coalition. At 15, he started working at Microsoft and, while still a teenager, cut his cybersecurity teeth at the CIA
Want to share your knowledge?
With world’s largest forum for insurance professionals, Insurtech Insights provides an invaluable platform for networking, new insights and exposure for thought leaders. We are always looking for new partners, content creators, and contributors to create value and deliver exceptional support to Insurtech Insights.
To share your knowledge, simply fill out the form.
