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
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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
FSA prolonged the deadline for UK crypto asset marketing & advertising
The FCA introduced in June that it was introducing advertising and marketing restrictions on the crypto sector
Cyber insurtech Cowbell plans to expand in the UK insurance market
Cyber insurtech Cowbell has announced plans to further expand its footprint in the UK market with a new senior appointment and launch of its AI-powered cyber insurance
Insurtech YuLife launches Group Health Insurance
Insurtech YuLife, a tech-driven financial services company on a mission to inspire life, has extended its group protection offering to include health insurance
Fintech Acrisure acquires MGA Modus Underwriting
Acrisure, a fintech that operates a top-10 global insurance broker, announced its acquisition of Modus Underwriting, an technology driven, MGA
Vienna Insurance Group reports 1H 2023 results: GWP €7,3 bn
Vienna Insurance Group (VIG) reports strong results for the first half of 2023, presented for the first time in accordance with the IFRS 9
Apollo Syndicate 1969 partnered with underwriting insurtech Artificial Labs
Specialist insurer Apollo Syndicate 1969 has joined forces with Artificial Labs, the algorithmic underwriting insurtech, to introduce an innovative smart follow collaboration
AI insurtech Akur8 sequred a new funding round of $25 mn
Akur8, the insurance pricing solution powered by Transparent AI, has closed a new funding round of $25 mn, bringing its total funding to over $60 mn
HSBC Insurance Brokerage received fund sales licence in China
HSBC Holdings said its insurance brokerage unit in China had secured a license to sell a range of investment fund products in the country
Ping An Insurance will focus on the medical and healthcare in China
Ping An Insurance will focus on the medical and healthcare industry in China, hoping to turn its coverage for the ageing society into an engine of growth
Large U.S. property insurers excludes natural disaster from insurance coverages
At least five large U.S. property insurers have told regulators that extreme weather patterns caused by climate change have led them to stop writing insurance coverages
Digital risk platform for insurers Cytora integrated with CAPE Analytics
The digital risk processing platform Cytora has announced an integration with CAPE Analytics, in a bid to enhance insurers’ capabilities to assess and manage risks
Markel appointed to the statutory committee of unsecured U.S. creditors of InsurTech Vesttoo
Markel Bermuda Limited has appointed to the statutory committee of unsecured creditors in the U.S. Chapter 11 bankruptcy of InsurTech Vesttoo
Karen Clark & Co estimated insured losses from Hurricane Idalia at $2.2 bn
Karen Clark & Company, a catastrophe risk modeller, has estimated privately insured losses from Hurricane Idalia at close to $2.2 bn
Verisk launched ClaimSearch system against insurance fraud in Israel
Verisk announced the launch of its new ClaimSearch system in Israel. Developed in collaboration with the Israel Insurance Association
Irys Insurtech sequred $3.5 mn seed round led by Markd
Startup Irys Insurtech has closed a seed funding round of $3.5 mn led by Markd, known for its keen interest in groundbreaking insurtech innovations
ReinaGreen: cargo insurance does not cover the risks of fruit shipping
According to ReinaGreen, standard cargo insurance policies may not provide adequate coverage for fresh fruit exporters
FSRA of Ontario established an Innovation Office for insurance services
The Financial Services Regulatory Authority of Ontario (FSRA) has established an Innovation Office to help identify, support and enable opportunities
Results for North American insurers: premium growth at 11%
GAAP results for North American (re)insurers reveals strong written premium growth at 11%, much of which came from reinsurers
K-ICS implementation will reshape South Korean insurers’ strategy
The implementation of the Korean Insurance Capital Standard (K-ICS) will continue to reshape Korean insurers’ operational strategy
Hurricane Idalia plowed into Florida. Insured losses in Florida run to $9.4 bn
Hurricane Idalia plowed into Florida’s Gulf Coast. Insured property losses in Florida were projected to run $9.36 billion
Beazley partnered with Sola Technologies and Spinnaker Insurance
Specialist insurer Beazley has partnered with Sola Technologies and Spinnaker Insurance Company to provide the first admitted parametric tornado disaster benefit insurance for homeowners
Charles Schwab Trader Sentiment Survey reveals a shift in trader expectations
The Charles Schwab Trader Sentiment Survey for Q3 reveals a shift in trader expectations towards a more optimistic view of the market environment
US Court handed Grayscale a win against the SEC in the lawsuit over spot Bitcoin ETF
US Court of Appeals for the District of Columbia Circuit handed Grayscale a win against the Securities and Exchange Commission (SEC)
Insurtech Cover Genius appointed of David Rudow as new CFO
Insurtech for embedded protection Cover Genius has announced the appointment of David Rudow as its new Chief Financial Officer (CFO)
Hannover Re increased its Group net income in the 1H 2023 by 18%
Hannover Re increased its Group net income in the first half of 2023 by 18% and confirms its full-year earnings target
Pet insurtech Wagmo sequred $8.9 mn after Series A financing
The pet insurance and perks insurtech startup Wagmo sequred $8.9 mn after Series A financing in 2022 a $12.5 mn led by Revolution Ventures
Insurtesh Redkik with Uber Freight launched next-generation cargo insurance
Embedded insurance software company Redkik has pioneered a Next-Generation Cargo Insurance with Uber Freight
European Reinsurers Results in 1H: Recovery in profitability
There was a strong yoy recovery in profitability in 1H23 for the four main European reinsurers, Fitch Ratings says
NAIC adopts change to life insurer capital & investments monitoring
Members of the National Association of Insurance Commissioners (NAIC) will adopt a change to the Life Risk-Based Capital (RBC) formula
AI insurtech NOW Insurance reach investment from Arch Capital
AI-enabled commercial insurtech NOW Insurance, a full-stack platform specialising in medical professional liability insurance coverage, has announced an investment
Insurtech Duck Creek expands to the Indian insurance market
Duck Creek Technologies announced a historical milestone with its expansion into the Indian general insurance market
Climate AI vendor Persefoni sequred $50 mn in Series C1 led by TPG Rise
US-based climate software vendor Persefoni has launched of its latest AI product (PersefoniGPT) and a $50 million funding round led by TPG Rise
Insurtech Clearcover launched embedded car insurance solution
Embedded insurtech Clearcover is launching a new embedded insurance solution, named an ‘insurance-in-a-box’ digital solution to other brands
Allianz increased business volume in 6M2023 by 4.8% to 85.6 bn euros
Allianz Group total business volume in 6M 2023 rose by 4.8% to 85.6 billion euros, driven by the Property-Casualty business segment
US 30-year mortgage rates reached 7.55% as refinancing and purchase applications declined, raising monthly costs and pushing more borrowers toward ARMs
Google and CoverGo examine how Agentic AI could reshape insurance operations, underwriting, data architecture, governance and human oversight
Mastiffs top the list of the most expensive dog breeds for pet insurance, with annual premiums averaging $2,546, according to Insurify data
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