Leading insurtechs launches of the InsurTech Coalition
Insurtechs Boost, Branch, Clearcover, Lemonade and Root Insurance, published an open letter to the insurance industry announcing the launch of the InsurTech Coalition
News
Insurtech Prima Assicurazioni looks to attract a new minority partner
Italian insurtech Prima Assicurazioni is seeking indicative offers from potential parties for a minority stake in the company
Aviva acquired Optiom O2, a canadian vehicle insurance MGA, of $124 mn
Aviva announces the acquisition of Optiom O2 Holdings from Novacap and other minority shareholders for consideration of CAD$170 mn
BNP Paribas Cardif acquires a 51% stake in BCC Vita life insurance in Italy
BNP Paribas Cardif will acquire a 51% stake in BCC Vita along with an agreement with BCC Banca Iccrea for the exclusive distribution
Vienna Insurance Group acquires an additional 35% in Corvinus’ Hungarian business
Vienna Insurance Group (VIG) has agreed to acquire an additional 35% stake in its Hungarian insurance business from Corvinus
Lloyd’s launched consultation on roadmap for insuring the transition
Lloyd’s of London has launched a consultation on its roadmap for insuring the transition approach for the next three years across all areas of sustainability for the market
SCOR generated EUR147 mn net income in Q3 2023
SCOR generated EUR147 million net income in Q3 2023, contributing to a strong nine-month performance with a net income of EUR 650 million
Talanx acquired of insurance business of Liberty Seguros in Brazil
Talanx‘s Retail International division has successfully finalised the acquisition of Liberty Seguros in Brazil. The acquisition signifies HDI’s significant advancemen
Insurer AXA UK joined forces with insurtech Synectics Solutions
Insurer AXA UK is joining forces with Synectics Solutions, specialises in combating financial crime through innovative technology, including a syndicated fraud database
Allianz is suing Revolut for $13 mn after neobank breached of contract with insurer
German insurer Allianz is suing neobank Revolut for $13 mn, claiming the neobank was in breach of contract after it moved its customers
Artificial intelligence isn’t the main cause of insurance industry layoffs
The credit rating agency AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs
Insurtech CatX raised a $2.7 mn seed funding for alternative capital platform
CatX, a digital catastrophe and parametric risk exchange reinsurance startup, backed by Y Combinator, has raised a $2.7 mn seed funding round
Howden launches new primary European Cyber & Tech E&O facility
Howden, the global insurance group, launches of one of the first dedicated European cyber and technology errors & omissions lineslips for primary business
The UK Government would reduce the rate of National Insurance social contributions
The UK Government would cut the amount of National Insurance social security contributions paid by 27 mn workers in a move that will save employees hundreds of pounds
Insurtech Luko placed in receivership, after €14 mn deal with insurer Admiral fell
Insurtech Luko has been placed in receivership, after deal with incumbent insurer Admiral fell after audits through at the end of October
Fitch Ratings’ German life insurance sector outlook is neutral
The neutral outlook for the German life insurance sector reflects Fitch Ratings’ expectation of a mixed operating environment, with improving investment yields
Global reinsurers providing less NatCat cover for European insurers
Global reinsurers have tightened their terms and conditions to limit their aggregate covers and the lower layers of their natural catastrophe protection
The U.S. Congress reauthorizated National Flood Insurance Program
The U.S. Congress passed a short-term reauthorization of the National Flood Insurance Program (NFIP) through Feb. 2 2024
Amazon Prime launched low-cost health care services from One Medical
Amazon announced a new Prime membership benefit that brings medical care to Prime members from One Medical, the health care business
2024 net combined ratio for P&C Insurance Market forecasts 104%
The 2024 net combined ratio for the property & casualty insurance industry is forecast to be 104%, according to Insurance Information Institute
OpenAI believe Q* could be a breakthrough in Artificial General Intelligence
OpenAI believe Q* could be a breakthrough in the startup’s search for what’s known as artificial general intelligence (AGI)
US property & casualty insurers catastrophe losses in Q3 2023
The Allstate and Liberty Mutual Holding had the highest Q3 2023 catastrophe losses among US property and casualty insurers, with both topping the $1 billion
Top US life insurers in 2023 posted declines in revenue
Similar to the Q2 2023, the majority of the top publicly traded US life insurers posted year-over-year declines in revenue
Aon announced expansion of Climate Risk Advisory function
Aon announced the expansion of its Climate Risk Advisory function across the firm’s Risk Capital capability, to further serve clients’ advanced risk analytics
MetLife completed a $19 bn risk transfer transaction with Global Atlantic
MetLife has completed a $19 bn risk transfer transaction with Global Atlantic Financial Group, a retirement and life insurance company
Insurtech Cover Genius launched travel insurance program for SAS airline’s passengers
Insurtech Cover Genius and scandinavia’s airline SAS announced a new customized travel insurance protection program
Hyperexponential and Akur8 integrates pricing decision intelligence capabilities for insurers
Hyperexponential, intelligence platform for insurers, and AI insurtech Akur8 announce a new partnership that will integrate their complementary pricing decision intelligence
Verisk launches of FairCheck, a solution designed to help insurers
Verisk, a global data analytics and technology provider, announced the launch of FairCheck, a solution designed to help insurers test their personal lines models
Insurtech wefox appointed of Paul Onnen as CTO
Insurtech wefox has announced the appointment of Paul Onnen as Chief Technology Officer (CTO)
Coalition’s data showed a 12% increase in cyber claims
Cyber insurtech Coalition released its Cyber Claims Report: Mid-year Update, which details the evolution of cyber trends during the 2023
The UK highlighted insurance as a critical component in minimising economic loss
The UK has set out a re-energised approach to international development in a white paper, aimed at working with partners to tackle global challenges in the years up to 2030
National Bank takes over key functions from National Commission for Financial Services
The Verkhovna Rada of Ukraine enacted legislation to dissolve the National Commission for State Regulation of Financial Services Markets
Marsh and Lloyd’s launched insurance coverage for export of Ukraine’s grain
Marsh announced the launch of a new facility – Unity – to provide affordable insurance supporting the export of grain
Swiss Re: Electronic Health Records can speed up underwriting by 7 times
Studies from Swiss Re and leading life carriers reveal that Electronic Health Records (EHRs) can have a transformative impact on the traditional life & health underwriting
AXA XL launched of Water Impact and Sustainability Evaluation (WISE) tool
AXA XL Risk Consulting announced the launch of its Water Impact and Sustainability Evaluation (WISE) tool
Allianz announsed results: business volume in 9M 2023 rose by 4.7% to 122 bn euros
Allianz announsed results for 3Q and 9M2023. Total business volume in 3Q 2023 rose by 4.5% to 36.5 billion euros
Munich Re provided warranty reinsurance for battery manufacturer Hithium
Global reinsurer Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS)
Kin Insurance increases premium by 63% to $270 mn in 2023
Kin, the direct-to-consumer home insurance company built for every new normal, announced operating results through the third quarter ended September 30, 2023.
Lloyd’s launches Inclusive Futures Programme for Black & ethnically individuals
Lloyd’s has launched a comprehensive initiative aimed at fostering greater inclusivity and advancement opportunities for Black and ethnically diverse individuals
Verisk posts consolidated revenues in Q3 2023 grew 11% to $678 mn
Verisk, a global data analytics and technology provider, has posted an increase in its consolidated and organic constant currency (OCC) revenues
MetLife launches AI-platform MetLife Xcelerator
MetLife, a leading life insurance company, has announced the launch of MetLife Xcelerator Latin America. The new platform allows business partners
Moody’s estimates insured losses from Windstorm Ciarán $1–$1.6 bn
Moody’s RMS, the risk modeling and solutions company, estimates that insured losses from Windstorm Ciarán, also known as Emir, will likely fall between $1 bn and $1.6 bn
Insurance industry leaders forecast in 2024 high inflation and interest rates
Insurance industry leaders from across Europe forecast high inflation and interest rates, attracting and retaining talent, and digital transformation will have the greatest impact
Lloyd’s announced a strong HY 2023 results: £29.3bn GWP, £3.9bn profit
Lloyd’s of London announced a strong set of results for the six months of 2023, with an underwriting profit of £2.5bn (HY 2022: £1.2bn), an investment return of £1.8bn
Insured losses from Hurricane Otis estimated $3-10 bn
Verisk, a data analytics and technology provider, estimates industry insured losses to onshore property for Hurricane Otis will from $3 bn to $6 bn
Lloyd’s announced changes to its Council membership
Lloyd’s announced changes to its Council membership following elections held to fulfil four vacancies
Insurtech Root unveiled a partnership with Connect in the UK
Insurtech platform Root Insurance has unveiled its inaugural strategic partnership for the collaboration is to create an embedded insurance platform in the UK
Pet insurtech Fetch announced a partnership with Best Friends Animal Society
Pet insurtech Fetch announced a new partnership with Best Friends Animal Society, a national animal welfare organization
Sensitive health information by 500K UK citizens shared with insurers
Sensitive health information donated for medical research by half a million UK citizens has been shared with insurance companies despite a pledge that it would not be
Munich Re 9M 2023 result increases to €3.6bn
Munich Re generated a net result of €1,169m (1,102m) in Q3 2023, and €3,593m (4,168m) in the first three quarters
Insurtech Diesta secured $1.9 mn seed funding round
London-based Insurtech Diesta has concluded its seed funding round, securing an impressive $1.9 mn in capital
Guidewire joined forces with Swiss Re Reinsurance Solutions
Guidewire has joined forces with Swiss Re Reinsurance Solutions to transform the insurance landscape by leveraging cutting-edge technology
Insurtech Lemonade Q3 2023 results: $719 mn in-force premium and 2 mn customers
Insurtech Lemonade announced the welcoming of its 2 millionth customer. The pace to achieve the second million customers was 35% faster than the first million
AI intelligence platform Tellius expands partnership with Google Cloud
AI-powered decision intelligence platform Tellius expanded of the partnership with Google Cloud to open a groundbreaking new chapter in analytics
Mortgage fraud risk declined by 3.1% – CoreLogic Report
CoreLogic published its newest Mortgage Fraud Report, which found that mortgage application fraud declined 3.1% year-over-year compared to the second quarter
CoreLogic Home Price Index: U.S. home prices increased by 4.5%
CoreLogic, a global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index and HPI Forecast
Cyber insurtech Cowbell raised $25 mn financing led by Prosperity7 Ventures
Cowbell, a cyber insurtech for small- and medium-sized enterprises, announced a new $25 mn financing led by Prosperity7 Ventures
Insurtech Wefox raised $55 mn addition funding from Deutsche Bank and UniCredit
Insurtech Wefox has secured a substantial boost with $55 mn in fresh funding from Deutsche Bank and UniCredit as an extension of the $400 mn
Cyber insurtech Corvus agreed to a $435 mn deal to be acquired by Travelers
Corvus Insurance Holdings has agreed to a $435 mn deal to be acquired by P&C insurance giant Travelers, which has approximately 30,000 employees
AI insurtech CLARA Analytics presents insurance claims optimization platform
CLARA Analytics, a provider of artificial intelligence technology for insurance claims optimization, unveiled its CLARAty platform, which advances the insurance claims
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