UK insurers hit by rising third-party risks as data gaps widen
85% of UK insurers face third-party risk impacts, with weak data and outdated tools limiting decision-making despite higher spending on cybersecurity and ESG
News
INSTANDA secures $20 mn to expand InsurTech platform in US and Europe
London InsurTech INSTANDA raises $20m led by CommerzVentures, pushing total funding beyond $85m, fueling AI-driven growth, acquisitions, and US-Europe expansion
Swiss Re pauses new life insurance deals in Australia as TPD claims soar
Swiss Re halts new business in Australia, citing unsustainable TPD insurance costs, with $1.43bn mental health claims in 2024 straining the financial system
Court upholds CMS ruling on Humana’s 3.5 Medicare Advantage Star Rating
A federal court sided with CMS, rejecting Humana’s bid to recalculate its 3.5 Medicare Advantage Star Rating tied to call center test calls
Omnix Medical secured $25 mn Series C to advance antibiotic resistance therapies
Jerusalem-based Omnix Medical raises $25 mn Series C, led by Harel Insurance & Finance and the EIC Fund, to push Phase II trials of its lead drug OMN6
Insurtech Previsico secures Series A to expand live flood forecasting globally
UK InsurTech Previsico raises Series A led by CI, BlueOrchard, and early backers to scale its live flood forecasting platform in the US, UK, and emerging markets
Simply Business rolls out AI insurance advisor for small businesses
Simply Business launches AI-powered advisor to simplify insurance buying, boost engagement, and support small business owners with personalized coverage guidance
Insurtech Federato launched agentic AI platform to overhaul insurance underwriting
Federato debuts agentic AI and Control Tower, aiming to modernize underwriting, portfolio management, and insurer workflows beyond legacy systems
Wright Flood to acquire Poulton Associates as private flood insurers gain ground
Wright Flood, a Brown & Brown unit, moves to buy Poulton Associates amid NFIP shutdown fallout and shifting demand for private flood insurance
Actuaries need direct data control to modernize loss reserving
Legacy systems slow actuarial teams. Direct data access and central repositories can cut reserving turnaround from days to hours while improving accuracy
Allianz reshapes Commercial Board with new market and distribution leaders
Allianz Commercial appoints Jeremy Sharpe and Christian Sandric to Board roles from Jan 2026, strengthening broker, client, and regional market focus
MSIG names Eric Schaap global broker engagement head in new role
MSIG appoints Eric Schaap as SVP and Global Broker Engagement Manager to strengthen global broker ties, align markets, and drive growth through analytics
Cyber insurance claims fall in 2025 as firms boost resilience
Allianz data shows cyber claim severity down 50% in 2025 as large firms harden defenses, but ransomware and data theft remain top drivers, hitting SMEs hardest
Louisiana proposes property insurance discounts for Fortified home upgrades
Louisiana insurers must offer 20-30% premium cuts for Fortified mitigation projects under new rules; regulators seek comment until Nov. 10
MetLife’s Metropolitan Tower takes on $1.8 bn Kodak pension transfer
MetLife unit Metropolitan Tower assumes $1.8B in Kodak pension liabilities for 27,000 retirees as Kodak winds down KRIP and plans debt repayment
IAG fields 3,000+ storm claims after giant hail hits Southeast Queensland
IAG brands including NRMA and RACQ Insurance are handling thousands of claims after severe hail and storms struck Brisbane, Gold Coast and Sunshine Coast
Insurance Australia Group lifts 2026 outlook after $855 mn RACQI acquisition
Insurance Australia Group boosts 2026 profit and premium guidance after completing its A$855M RACQI deal, forecasting up to A$1.75B in reported profit
Northeastern Insurance files Chapter 15 in NY over sex abuse claim surge
Bermuda-based Northeastern Insurance seeks Chapter 15 protection in New York after 55 sex abuse claims under NY’s Child Victims Act exceed its assets
Michigan boosts insurance regulator budget to $79.4 mn after proposed cuts
Michigan lawmakers reversed earlier budget cuts, approving $79.4 mn for the insurance regulator, including added funds for legal cases and economic adjustments
Insurers press EU for simpler sustainability reporting under CSRD
Insurance Europe and CFO Forum urge EU to ease sustainability reporting, citing complex double materiality, litigation risks, and GHG disclosure burdens
OneAdvent expands financial lines MGA with new Lloyd’s capacity deal
OneAdvent secures Lloyd’s capacity for its financial lines MGA, plans EU and emerging market expansion; Alta Signa appoints France country manager
Federal court rejects bid to block new ACA Marketplace rules
A Massachusetts federal judge denied a preliminary injunction against ACA rule changes on enrollment, premiums, and benefits; lawsuits in multiple states continue
Utah home insurers push double-digit rate hikes as wildfire risk grows
Dozens of Utah home insurers raised rates in 2025, some by over 35%, as population growth, wildfire threats, and construction costs reshape the state’s market
Tesla Insurance faces license threat in California over 2,500+ violations
California regulators accuse Tesla Insurance and State National of thousands of violations, threaten suspensions, fines up to $10k, and license loss
Cayman Islands issues 11 new insurance licenses, growth tops 2024 pace
Cayman Islands approved 11 new insurance licenses in Q3, with 32 total in 2025 so far, highlighting stability and $173bn in assets across licensed insurers
Clyde & Co names Jon Ebner and Ronald Ohren as new Chicago partners
Global law firm Clyde & Co has added two senior names to its U.S. roster, appointing Jon Ebner and Ronald Ohren as partners in the firm’s Chicago office
China will expand the scope of institutions offering commercial insurance
China will expand the scope of institutions offering commercial endowment insurance services to meet the people’s diversified needs for elderly care
Liberty Mutual, Continental push N.C. Supreme Court review on asbestos claims
Liberty Mutual and Continental ask North Carolina Supreme Court to review asbestos workers’ comp ruling they say conflicts with precedent on bellwether cases
Yuexiu completes full takeover of Hong Kong Life with $130 mn capital boost
Yuexiu Enterprises finalizes Hong Kong Life acquisition, injecting HK$1 bn ($130m) to expand retirement, health, and Greater Bay Area insurance growth
Strategic Limited Partners exits Minnesota after $290k penalty for unlicensed health plans
Strategic Limited Partners must halt insurance business in Minnesota, repay consumers, and pay $290k after selling unauthorized health plans tied to MNsure confusion
Florida Senate Bill 158 pushes stricter pet insurance disclosures & reporting rules
Florida Senate Bill 158 proposes tougher pet insurance disclosures, annual insurer reporting, and new continuing education for agents selling the line
Illinois sues State Farm to force release of nationwide homeowners insurance data
Illinois pushes State Farm to hand over nationwide homeowners data after sharp rate hikes. Regulators say the info is critical for affordability oversight
Florida bill seeks to bar AI-only insurance claim denials, mandate human review
Florida Senate Bill 202 would require insurers to ensure humans make final claim denial decisions, with written affirmations and regulator oversight
Exzeo targets $178 mn in IPO proceeds with $20–$22 share pricing range
HCI subsidiary Exzeo aims to raise up to $177.8M from IPO, projecting Q3 net income up fourfold and managed premiums more than doubling year over year
New York fines 8 auto insurers $19 mn over cybersecurity violations, data breaches
New York DFS fined eight auto insurers and agencies $19 mn for weak cybersecurity controls that exposed personal data through online quoting systems
UK motor insurer Premier Insurance enters administration, 16,000 policies hit
Premier Insurance Co. placed into administration by Gibraltar regulator, with FSCS stepping in to protect 16,000 UK motor policyholders
US pension risk transfer sales plunge in 2025 as annuities hit records
LIMRA reports PRT premiums fell 64% in Q2 2025 to $4.1bn, while total annuity sales hit a record $226.1bn in the first half of the year
October storms bring $100 mn+ insured losses across U.S. coasts and Alaska
A series of severe storms across the U.S. and Alaska in mid-October could leave insurers with losses in the hundreds of millions
Vienna Insurance Group acquires Nürnberger in €1.38 bn deal with major backer support
VIG launches €120-per-share offer for Nürnberger valued at €1.38bn, with 64% of shareholders pledging support ahead of regulatory review
U.S. District Court upholds CMS calculation of Humana’s rating
A federal court ruled CMS correctly calculated Humana’s 3.5 Star Rating, rejecting the insurer’s challenge over dropped customer-service test calls
Beat Capital launches 1889 Specialty MGA for U.S. financial institutions
Beat Capital Partners unveils 1889 Specialty Insurance, a new MGA offering management liability and professional lines for U.S. financial institutions
State Farm to expand into Massachusetts homeowners and auto market by 2027
State Farm is preparing to scale up in Massachusetts, where its market share in personal auto and homeowners sits below 0.29%
Brown & Brown Europe to acquire Pardus Underwriting, expand UK MGA reach
Brown & Brown Europe agrees to acquire Pardus Underwriting, a UK MGA focused on property and commercial insurance, strengthening its London Market presence
Hong Kong names AIA and Prudential Asia as systemically important insurers
HKIA designates AIA and Prudential Asia as domestic systemically important insurers, subjecting them to tighter oversight and annual reviews
Egypt’s SehaTech secures $1.1 mn seed to expand AI-powered health insurance
SehaTech raises $1.1 mn seed round led by Ingressive Capital to scale AI health insurance platform, expand regionally, and improve access to coverage
Carpe Data and Harbor AI team up to speed E&S underwriting with AI insights
Carpe Data and Harbor partner to give E&S insurers faster, cleaner underwriting workflows with AI-driven signals, pricing recommendations, and renewal monitoring
Autonomize AI launched Studio and 100+ Agent Marketplace for healthcare
Autonomize AI unveils AI Studio and 100+ healthcare-native Agents to accelerate workflow automation, governance, and care quality in clinical and operational systems
AI-driven insurer MGT raises $21.6 mn Series B to scale AI-native insurance
AI-driven insurer MGT secures $21.6m in Series B led by Mubadala Capital, funding expansion of E&S operations and next-gen P&C insurance for small businesses
US workplace insurance premiums rebound in Q2 2025 after early slump
Workplace life and disability insurance rose in Q2 2025, though year-to-date sales stayed below 2024 levels, LIMRA data shows
Lemonade proposes near-zero insurance for Tesla Full Self-Driving
Lemonade proposes near-zero insurance for Tesla Full Self-Driving, using direct vehicle integration to cut costs and challenge Tesla’s stalled insurance rollout
NTT DATA acquires Alchemy Technology to expand global insurance modernization
NTT DATA acquires UK-based Alchemy Technology, boosting Guidewire and London Market expertise while expanding digital transformation for insurers worldwide
Liberate secures $50 mn Series B at $300 mn valuation to expand AI insurance automation
Liberate secures $50 mn Series B led by Battery Ventures to scale agentic AI across insurers, boosting sales, slashing costs, and powering 1.3 m automated resolutions monthly
Stand secures $35 mn Series B to expand catastrophe insurance into Florida
Stand, an insurtech startup targeting properties most at risk from natural disasters, has closed a $35m Series B round
Afori launches AI platform for insurance brokers with €4 mn funding
Afori emerges from stealth with €4mn pre-seed led by General Catalyst, building an AI inbox assistant to cut broker admin overload ahead of its 2025 Germany rollout
AdvantageGo debuts Underwriting Workbench v3.0 to modernise P&C insurance workflows
AdvantageGo launches Underwriting Workbench v3.0, bringing AI insights, dynamic workflows, and collaboration tools to insurers across EMEA and North America
Akur8 launches Rate Repo and Deploy to unify actuarial pricing and deployment
Akur8 expands its actuarial suite with Rate Repo and Deploy, offering insurers faster, compliant pricing workflows from model creation to live deployment
Kalepa partners with AmRisc to scale AI-powered underwriting operations
Kalepa and AmRisc form a strategic partnership to boost underwriting efficiency, accuracy, and speed with AI-driven document and submission processing
Salesloft-Drift OAuth breach exposes SaaS supply chain risk for cyber insurers
The Salesloft-Drift OAuth breach hit 700 firms, exposing SaaS supply chain risks that cyber insurers must now treat as systemic portfolio exposures
ClaimSorted raised $13.3 mn to speed up insurance claims with AI-powered TPA
ClaimSorted secures $13.3m seed round led by Atomico to expand its AI-driven claims management platform, cutting costs and boosting speed for insurers worldwide
EIS expands OneSuite with CoreGentic AI to reshape insurance core systems
EIS launches OneSuite powered by CoreGentic, embedding AI and agentic orchestration into core insurance tech to slash costs, boost agility, and cut IT dependence
Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual
InsurTech funding crossed a significant milestone in Q2 2025, with $60.8bn raised since records began in 2012. The data reflects the scale of investor appetite over 10Y