Top 10 Global Economic & Insured Loss Events. List of natural disasters
At least five events topped the economic loss threshold of $10 billion. Hurricane Ian dominated the ranking with an aggregated toll of approximately $95.5 billion
News
Covr offers a digital life insurance platform for Smart Choice agents
Life Insurtech Covr Financial Technologies has partnered with Smart Choice to bring its digital insurance platform for independent agents, Covr Pro, to 9,500 Smart Choice
Elon Musk shared insights about Tesla Insurance results
Tesla has discussed its results. CEO Elon Musk and CFO Zach Kirkhorn shared some insights about Tesla Insurance
Insurtech Ladder gives AmeriSave customers the life insurance online
Direct-to-consumer mortgage lender AmeriSave Mortgage Corporation has partnered with Ladder Insurance, giving customers the option to apply for life insurance online
Insurers must be able to offer many sustainable insurance products
Insurance Europe has responded to the European Supervisory Authorities’ call for evidence on greenwashing
Cyber insurance provider Coalition approved Lloyd’s coverholder in the UK
Coalition is now even better placed to deliver its Active Cyber Insurance to licensed territories around the world
Southeastern Australia floods insurance loss estimates to AUD 840mn – PERILS
The catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for the Southeastern Australia floods, amounting to AUD 840 mn
Pathpoint raised $12.5 mn for E&S insurtech-platform for insurance agents
Pathpoint, the digital wholesaler where insurance agents can get bindable small commercial E&S quotes, has raised $12.5 mn in funding from existing investors
AI tech reducing insurance shipping losses ang efficiency in claims management
According to ShipIn Systems, the industry is facing a challenging 2023, with inflation driving up costs for repairs and breakdowns, geopolitical tensions
Japanese insurers increases insurance premiums by 80% for LNG ships in Russian waters
Japanese insurers are planning to increase insurance premiums for ships carrying liquefied natural gas (LNG) that traverse Russian waters
Insurers asked UK government about reinsurance cover state-backed cyber attacks
Insurers have held discussions with the UK government over whether its terrorism reinsurance scheme should cover state-backed cyber attacks
German regulator Bafin wants to put a stop to excessive costs in life insurance
German Financial regulator Bafin wants to put a stop to excessive costs in life insurance. High costs do not always mean an appropriately increased return
Unemployment insurance fraud in U.S. totaled more than $60 bn
Unemployment insurance fraud since April 2020 could total more than $60 bn, according to a report by the U.S. Government Accountability Office
Life insurtech Dayforward secured $25 mn funding led by AXA Venture
Digital life insurtech startup Dayforward has closed a $25 million funding round led by AXA Venture Partners, with participation from existing investors including HSCM
Insurtech Peppercorn creates the conversational AI insurance assistant
Insurtech Peppercorn has created the “world’s first” conversational AI insurance assistant. Peppercorn’s platform enables customers to benefit from a more responsive
Insurtech SaaS-provider insured:io announced new Payment Center
insured.io, a provider of cloud-based, customer engagement solutions for the insurance industry, has announced the availability of a new payment processing feature, Payment Center
Insurtech Embroker launches AI & ML application ONE to simplify business insurance for startups
Digital business insurance platform Embroker has launched a new data science application, ONE — a universal application that utilizes AI and machine-learning
AI-led insurtech Concirrus launches new Marine Hull Market Model
The AI-led insurtech Concirrus, a data and analytics platform for commercial insurance, has launched its new Marine Hull Market Model – which is currently leading the… Read More »AI-led insurtech Concirrus launches new Marine Hull Market Model
Hanover Insurance Group estimates catastrophe losses of $190 mn for Q4 2022
Hanover Insurance Group has estimated catastrophe losses of $190 mn for the Q4 2022, of which $165 mn, or 87%, were driven by Winter Storm Elliott
Insurtech TONI Digital secures $12.5 mn in a Series B funding
TONI Digital is a digital insurance-as-a-service provider, offering personal and commercial insurance lines such as motor insurance
SaaS insurtech-platform Liberate raised $7mn led by Eclipse
Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7mn in funding
Fintech Papara launch of pet insurance in Turkey
Papara, the market-leading Turkish fintech, today announces the launch of pet insurance product to users in Turkey
Swiss Re’s digital B2B2C insurer iptiQ and SunLife launch an life insurance for UK
SunLife, part of Phoenix Group, and iptiQ, Swiss Re’s digital B2B2C insurer launch an innovative life insurance product for UK-based customers aged 50 years and above
Stone Ridge Asset Management provides $100 mn in capital to support Hannover Re
Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance & ILS, has provided $100 million in capital
Austrian insurtech Hi:health raised €6 mn in a pre-Series A financing
Vienna-based insurtech “Hi.health” raised €6 mn in a pre-Series A financing round led by existing investors SpeedInvest and Calm/Storm
Insurtech Hippo Insurance placed of reinsurance program’ 2023
Insurtech Hippo Insurance has placed of its reinsurance program for the 2023 year, which includes a 32% rise in per-occurrence excess of loss (XoL) limit
National Flood Insurance Program paid $2.2 bn in claims for Hurricane Ian
National Flood Insurance Program had paid $2.2 billion in claims for Hurricane Ian an increase of almost 28%
Insurtech Joyn secured a $17.7 mn Series A funding led by OMERS Ventures
Insurtech Joyn Insurance has announced it exceeded its target with a $17.7 mn Series A funding round led by OMERS Ventures, with participation from SiriusPoint
Saudi launched the Unified Compulsory Motor Insurance Policy
The Saudi Central Bank (SAMA) has introduced new amendments to the Unified Compulsory Motor Insurance Policy, allowing an option of repairing the vehicle instead of… Read More »Saudi launched the Unified Compulsory Motor Insurance Policy
Crypto Insurance. Why not require crypto projects to get special insurance after FTX crush?
There is extensive precedent for requiring companies providing critical infrastructure to get special insurance. Why not require crypto companies to back themselves
German non-life insurance market is ‘deteriorating’. Fitch Ratings’ outlook
Fitch Ratings’ sector outlook for the German non-life insurance market is ‘deteriorating’ for 2023, reflecting Fitch’s expectation that inflationary pressure on property and liability claims
InsurTech MGA Loadsure received capacity from insurer Tokio Marine Kiln
InsurTech MGA Loadsure has received capacity baking from leading specialist international insurer Tokio Marine Kiln to further enhance
Battleface rolles a new API-driven insurtech platform Robin Assist
Insurtech Battleface has rolled out a new tech-driven platform as a service to support insurance carriers, brokers, managing general agents (MGAs)
MS Amlin launched a special purpose reinsurance vehicle Phoenix 3 Re
Lloyd’s global specialty (re)insurer MS Amlin has strengthened its Asian reinsurance business by floating a local special purpose reinsurance vehicle (SPRV) with US$45 million
Munich Re helps Verisk Maplecroft to it enhance human rights due diligence
Munich Re has announced that it has selected Verisk’s global risk analytics business, Verisk Maplecroft, to help it enhance human rights due diligence
EU-ban on inducements would limit insurance consumer’s access to financial advice
Insurance Europe has sent a letter and a position paper to the European Commission to explain why an outright EU-wide ban on inducements would limit consumer’s access
Insurer Palomar implements the Phinsys suite of finance & accounting products
Phinsys, the leading finance automation software provider for the insurance sector, announced today that the specialty insurer Palomar Holdings is implementing
IG P&I Clubs completed pooling & GXL reinsurance structure for 2023/2024
International Group of P&I Clubs has seen a benign pool claims environment for its 2022/2023 program, but it notes that reinsurance partners have been impacted
Lloyd’s of London will report a combined ratio of 95%
Lloyd’s of London will report a combined ratio of around 95% at the year-end of 2022, anticipating the same for 2023
FloodFlash, insurer to pay catastrophic flood claims, entered the U.S. insurance market
Parametric flood insurance company FloodFlash, the first insurance provider to pay catastrophic flood claims as fast as 4 hours, announced they have entered the U.S. insurance market
Insurance market in Poland ended 2022 with the largest reduction in MTPL premium
The insurance market in Poland ended 2022 with the largest reduction in the average MTPL premium in 5 years
Insurers call on EDPB to guarantee transitional period for Controller Binding Corporate Rules
Insurance Europe has responded to a consultation conducted by the European Data Protection Board (EDPB) on its draft recommendation on the application for approval
Insurtech Cowbell released Modeling Catastrophic Cyber Events
Cowbell, the provider of cyber insurance for small and medium-sized enterprises (SMEs), has released a new whitepaper, “Modeling Catastrophic Cyber Events”
Insurtech XILO raises $6 mn in seed round led by ValueStream Ventures
San Diego insurtech startup XILO offering workflow software for insurance agents and others in the insurance space, capped off 2022 by increasing its seed round
Philly-based insurtech Propeller Bonds raises $6.4 mn in seed funding
Philly-based insurtech, Propeller, has raised $6.4 mn in seed funding led by a consortium of industry partners
Insurance sector supports re-use of existing standards for cyber incident reporting
The insurance sector supports convergence and the re-use of existing standards for cyber incident reporting, including with ongoing initiatives, Insurance Europe said
International Association of Insurance Supervisors (IAIS) published its 2023-2024 Roadmap
The International Association of Insurance Supervisors (IAIS) published its 2023-2024 Roadmap. The Roadmap outlines the IAIS’ work program for the next two years
Latvian insurance market totaled EUR 735 mn at 9M2022 (+18.7%)
Latvian insurance market totaled EUR 734.81 million at the end of September 2022, about 18.74% more y-o-y. There were 4 non-life insurance companies and 2 life
Slovak VIG insurer Kooperativa poistovna purchases 100% of pension fund 365.life
Austrian financial group Vienna Insurance (VIG) informed that its Slovak subsidiary Kooperativa poistovna has purchased 100% of the shares in 365.life d. s. s.
How Bolttech, SingLife & ZhongAn revolutionising insurance industry in Asia
The InsurTech industry in Asia is still relatively smaller as compared to the western world of Europe and North America
Insurtech bolttech and Thailand’s mobile operator AIS delivers embedded insurance
Insurtech bolttech and Thailand’s mobile network operator AIS have partnered to deliver embedded protection services including mobile device switch
Insurtech Lumera acquires of a supplier for Dutch pension funds AxyWare
Stockholm-based startup Lumera has acquired AxyWare, a renowned system supplier for Dutch pension funds. Lumera delivers unified policy administration environments
Ondo InsurTech won a new contract with insurer Topdanmark
Ondo InsurTech has won a new contract with insurer Topdanmark, to expand its roll-out to 20,000 new customers in Denmark
War in Ukraine & extreme weather drives up reinsurance cost by up to 150-200%
The war in Ukraine and extreme weather events have driven up the cost of reinsurance by as much as 200 per cent in crucial January renewals
Insurers benefit from interest rate hike in 2024
Insurance companies will have the chance to earn higher profits in 2023 thanks to a continual interest rate hike trend
Türkiye introduces a new insurance requirement for arriving travelers & immigrants
To discourage irregular migration, Türkiye is expected to implement a new insurance requirement for anyone arriving in Türkiye with a permit
India’s insurance regulator to treat green bond purchases as infra investments
The Insurance Regulatory and Development Authority of India has said insurers will be allowed to classify their sovereign green bond purchases as infrastructure investments
Swiss Re appoints Velina Peneva as Group Chief Investment Officer
Swiss Re announced today the appointment of Velina Peneva as Group Chief Investment Officer and member of the Group Executive Committee
Willis Towers Watson announced the combination of Asia and Australasia operations
Willis Towers Watson has announced the combination of its Asia and Australasia operations into one Asia Pacific region, effective 1 January 2023
Embedded insurance could exceed $70 bn in premium by 2030
Embedded insurance could make significant inroads into both personal lines and small commercial insurance business, exceeding $70 billion in premium by 2030
The global insurance sector outlook remains ‘neutral’ at 2026, as business conditions have been resilient across most markets to the more challenging macroeconomic environment
The US P&C insurance industry recorded a $16.3 bn net underwriting gain in the first three months of 2026, up significantly from a $1 bn loss recorded in the prior-year period
Aerospace and defense M&A reached 532 deals in 2025, as business aviation attracts private equity, family offices, and growth investors
U.S. cyber insurance premiums rose nearly 11% in 2025 as policy volume jumped, but weaker pricing, higher losses, and AI-driven threats added fresh pressure