SaaS insurtech CoverGo obtains a patent for drag-and-drop product builder
CoverGo, the global SaaS no-code insurance core platform for health, P&C, and life, has recently been granted a patent that recognizes the innovative technology
News
Insurtech startup Lula raised $35.5 mn in a Series B funding round
Insurtech startup Lula has raised $35.5 mn in a Series B funding round after experiencing a massive surge in customers
Insurtech Reserv secured $20 mn Series A to expand generative AI claims tools
Reserv, the AI-driven insurance claims processing startup, secured of $20 mn Series A round of financing to expand its generative AI claims data analysis tools
Cyber insurtech Coalition partnered with HDI Global Specialty
Coalition, the Active Insurance provider designed to prevent digital risk before it strikes, announced a new long-term partnership with HDI Global Specialty
Insurance Capital Standard – most significant regulatory development for insurers in 2024
Finalisation of the Insurance Capital Standard (ICS), a new global solvency standard for internationally active insurance groups
InsurSec At-Bay added 40 new classes of business to MPL insurance product
InsurSec provider At-Bay has added more than 40 new classes of business to Miscellaneous Professional Liability (MPL) product
Verisk launched of update to the ISO Businessowners program
Verisk, a global data analytics and technology provider, has announced the launch of its latest update to the ISO Businessowners (BOP) program
Allianz SE announces leadership updates to Board of Management
The Supervisory Board of Allianz SE announced the following leadership updates to the Allianz Board of Management
International Finance Corporation signed a $3.5 bn credit insurance policy
International Finance Corporation has signed a $3.5 bn credit insurance policy with 13 global re/insurance companies under its Managed Co-Lending Portfolio Program
UK-based Insurtech Artificial:io partnered with Tier 2 Consulting
Tier 2 Consulting, renowned for its expertise in agile software development, has forged a partnership with Artificial, an innovative UK-based Insurtech
Global reinsurance rates in 2024. Fitch, Moody’s & Goldman Sachs outlooks
Global reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices will start to fall in 2025
Insurtech platform Root raised $1.5 mn funding led by Invenfin
South African insurtech startup Root Platform, the low-code, API-first, end-to-end insurance technology platform provider, has raised $1.5 mn in funding led by Invenfin
Insurtech INSHUR launched insurance offering in partnership with Uber
On-demand insurance platform INSHUR has launched its insurance offering for on-demand livery drivers in Arizona, its second state in the US following its success in New York
Digital life insurance agency Haven Life partnered with Origin8
Haven Life, a digital life insurance agency, announced a new partnership with Origin8cares. This partnership will further Haven Life’s commitment
Insurtech Safely secured $8 mn in funding led by Highgate Ventures
Insurtech Safely has secured $8 mn in funding, with Highgate Technology Ventures leading the investment and participation from LAGO Innovation Fund
Insurtech Delos Insurance raised $7.3 mn seed extension round
Delos Insurance Solutions seals a $7.3 mn seed extension round to make available homeowners’ insurance in wildfire-prone areas
Insurtech Ripe acquired specialist boat insurer Craftinsure
Insurtech Ripe has completed its first M&A transaction by acquiring specialist boat insurer, Craftinsure
Logpoint uncovered the Akira infection chain through malware analysis
Logpoint’s research has uncovered the Akira infection chain through malware analysis. Akira actively targets Cisco ASA VPNs without multifactor authentication
Aviva acquired of AIG Life UK from Corebridge Financial of £460 mn
Aviva announces the acquisition of AIG Life UK from Corebridge Financial, a quoted subsidiary of American International Group, for consideration of £460 mn
Insurtech NEXT Insurance offered fully customize coverage quotes for agents
NEXT Insurance, a digital small business insurtech, announced a differentiated new offering that will enable agents to fully customize coverage quotes
Continental Assist partnered with parametric insurtech Baoba
Continental Assist, a North America-based travel assistance company, announced a partnership with Baoba Insurtech, a parametric insurance technology
California’s home insurers paid out more than they collected in premiums
California’s homeowners insurers cumulatively paid out more than twice as much in claims and expenses as they collected in premiums in both 2017 and 2018
Insurtech Authentic sequred $5.5 mn in seed round to launch captive insurance platform
Authentic, an insurtech platform that allows vertical Software-as-a-Service businesses to adopt the benefits of captive insurance, has raised $5.5 mn in seed funding
Rental e-scooters cause more insurance accidents than privately used scooters
E-scooters in rental fleets cause significantly more accidents than privately used scooters, according to the German Insurance Association
August severe storms in Germany reach up to EUR 900 mn losses
Losses caused by end of August severe storms in Germany are expected to reach up to EUR 900 million, the German Insurance Association
Home insurtech Openly raised $100 mn in Series D funding
Home insurtech Openly has raised $100 mn in Series D funding led by Eden Global Partners, a financial institution specializing in providing long term capital
Insurance Europe welcomes Climate Resilience Dialogue
The primary task of the Climate Resilience Dialogue is to exchange views on how to address the losses incurred from climate-related disasters and to identify
LeapFrog’s $50 mn investment adds to insurtech bolttech’s Series B funding
International insurtech bolttech welcomed investment firm LeapFrog Investments as a new strategic investor in an extension of its Series B round
Insurtech Pliable secured $2.5 mn for AI-powered SaaS platform
US insurtech Pliable, that aims to make it easier to organise and leverage data, replacing the need for data engineers, has sequred $2.5mn in funding
Fletch provides Insurify users with access to pet insurance
Fletch Technologies will provide Insurify users with access to pet insurance products across Insurify’s digital marketplace platforms
Cyber Insurtech Corvus enters Continental European Market
Corvus Insurance announced it has partnered with The Travelers Companies to back its Smart Cyber Insurance offering
Latin American reinsurance influenced by global market pricing
The Latin American (LatAm) reinsurance sector is highly influenced by global reinsurance pricing conditions, given its smaller size relative to the global marke
Insurtech Kin secured $33mn in a Series D to go with $109mn funding
US insurtech Kin Insurance has secured a further $33mn in a Series D extension to go with the $109mn of funding that it had already raised
Cyber insurtech Stoïk raised €10.7 mn to help market expansion
French cyber insurtech Stoïk has raised $10.7 mn to help with market expansion. Munich Re Ventures is leading the round with Opera Tech Ventures
Zeelo partnered with PaaS-insurtech platform DigiSure
Software provider Zeelo accelerates its expansion across the United States through a partnership with protection-as-a-Service insurtech platform DigiSur
EY’s AI-platform brings together human capabilities and artificial intelligence
The global EY organization launched of EY.ai, a unifying platform that brings together human capabilities and artificial intelligence (AI)
NY’s financial regulator wants crypto companies to be more transparent
New York’s financial regulator wants cryptocurrency companies regulated in the state to be more transparent about how they list and delist crypto coins
Swiss Re reported a net income of $1.4 bn and ROE of 22.8% in 1H2023
Global reinsurer Swiss Re reported a net income of USD 1.4 billion and a return on equity (ROE) of 22.8% for the first half of the year
Insurtech DGTAL secured of €3m for insurance SaaS-platform development
Insurtech DGTAL has secured strategic funding of €3m to facilitate the scaling of its pathbreaking technology.
Insurance Europe welcomed the transparency ESG rating
Insurance Europe, the European insurance and reinsurance federation, has welcomed the European Commission proposal to improve the availability ESG rating
Deutsche Bank launches digital asset custody & tokenization with Taurus
Deutsche Bank is set to establish digital asset custody and tokenization services via a new partnership with Switzerland-based Taurus, a Swiss startup
Databricks raised $500 mn funding, valuation go to $43 bn
Databricks has raised $500 million in new funding, a large deal that catapults the software maker’s valuation to $43 billion
NY blockchain consortium R3 laid off over 20% of its workforce
The New York-based blockchain consortium R3, backed by investors including Bank of America and Intel, has laid off over 20% of its workforce
Reinsurance prices will continue to rise in 2024 – Moody’s report
Moody’s has indicated that reinsurance prices are poised to experience further upward momentum across all sectors in the year 2024
Swiss Re estimated insured losses from single quake in Japan of $130-150bn
Swiss Re estimate a single quake could cause insured losses of USD 130-150bn. A 100 years on from Great Kanto Earthquake
Insured losses for Hurricane Idalia $2.5-4 bn – Verisk estimates
Verisk estimates industry insured losses to onshore property for Hurricane Idalia will range from USD 2.5 billion to USD 4 billion
Italian life insurance market: Fitch Outlook
The Italian life insurance sector’s policyholder surrender rates remain high but may have peaked and should not have a material impact on most insurers’ profitability
Total Adjusted Compensation for US InsurTech CEOs. S&P Ranking
The compensation packages for 9 of the 14 CEOs shrank year over year, with three declining by more than 90%
ERGO generated of €4.9 bn insurance revenue in 1H2023
Munich Re generated a result of €250m (147m) in its ERGO field of business in Q2 and €470m (303m) in 1H2023. ERGO grew considerably, with insurance revenue
Munich Re Group net result targets of €2.4bn in 1H2023
Munich Re generated a profit of €1,154m (1,585m) in the second quarter of 2023, and €2,425m (3,066m) in the first six months of the year
Aon & Lloyd’s unveiled a financial tool for International Federation of Red Cross
IFRC, along with Aon, Lloyd’s Disaster Risk Facility, and the Centre for Disaster Protection, has unveiled a revolutionary financial tool
Swiss Re expects growth for non-life reinsurance market
As risk awareness and demand for re/insurance is increasing, Swiss Re highlights the importance of improved underwriting data, enhanced modelling
Lloyd’s results for 1H 2023: £29.3bn premium, £2.5bn underwriting profit
Lloyd’s announced the results for the 1H 2023, with an underwriting profit of £2.5bn (2022: £1.2bn), an investment return of £1.8bn (2022: £3.1bn loss)
12 InsurTechs joined the 11th cohort of the accelerator Lloyd’s Lab
12 insurtech teams that will join the 11th cohort of the Lloyd’s Lab, the InsurTech accelerator hub for developing innovative insurance products in the Lloyd’s market
Verisk Maplecroft launched a predictive strikes & riots data model
Verisk Maplecroft, the risk intelligence business arm of Verisk, has launched a new predictive strikes, riots, and civil commotion (SRCC) data model
Insurtech launches of Circ, regulatory solution for P&C insurers
Insurtech Insurity has launched of Circ, its offering, to monitor, analyze, interpret, and implement regulatory changes
Embedded Insurtech Cover Genius partners with Chilean SKY Airline
Insurtech for embedded protection Cover Genius announced a partnership with SKY Airline, a Chilean low-cost airline with flights to over 40 destinations
Allianz Net-Zero Transition Plan 2030 targets to decarbonize insurance
Allianz is publishing its first comprehensive net-zero transition plan, which substantiates the company’s long-term strategic climate commitment
Insurtech Qover after closed a $30 mn Series C granted FCA`s authorisation in the UK
Qover, insurtech in embedded insurance orchestration, has granted of a Financial Conduct Authority (FCA) full authorisation
CelsiusPro acquired of Global Parametrics Holding
CelsiusPro AG announced the acquisition of Global Parametrics Holding, in a transaction that significantly strengthens its global capabilities to offer parametric risk transfer
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities
Insurance brokers push debt-financed acquisitions amid slowing growth, Fitch warns credit risks rise but strong cash flow keeps leverage tolerable
Major deals have led global M&A activity in 2024, showing increasing confidence among dealmakers despite geopolitical and economic challenges