Insurtech

Experian UK and Ireland to Enhance Commercial Insurance Underwriting with AI-enabled Data Solution

Experian UK&I has recently announced an AI-powered data solution ‘Hazard Tags’ which will help with the transformation of underwriting processes in the commercial insurance sector. As explained in the update from Experian, manual underwriting methods can be time-consuming for insurers and can often lead to… Read More

Insurtech Firm Cowbell Reports Significant Growth, Shares Update on UK Business Expansion Efforts

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), reports “significant growth” across the region as it marks the first year of its expansion into the United Kingdom. Results show Insurtech Cowbell’s continued growth in the region, with figures from between January… Read More

Insurtech Akur8 Selected by RSM to Enhance Insurance Pricing Process

Akur8, the insurance pricing and reserving solution powered by Transparent AI, is pleased to announce its collab with RSM US LLP, which is the provider of assurance, tax and consulting services for the middle market. RSM has reportedly used Akur8’s Reserving solution for a number… Read More

Insurtech Cowbell to Grow Policyholder Base and Accelerate Business Growth with Key Appointments

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and middle-market businesses, has appointed Denise Pagliarulo, a former AXIS Capital finance veteran and Deloitte alumna, to lead its finance team. According to the update from Insurtech Cowbell, Denise will be responsible for… Read More

Embedded Insurance: TruStage Payment Guard Teams Up with Community First Credit Union

Committed to safeguarding its members in their times of need, Santa Rosa, Calif.-based Community First Credit Union announced it has partnered with TruStage, financially “strong” insurance, investment and technology provider, to integrate its Payment Guard embedded insurance strategy into the credit union’s indirect auto loan… Read More

Insurtech Cowbell Extends Cyber and Tech E&O Offerings to Firms Up to $1B in Annual Revenue in the US

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and middle-market businesses, is expanding its capacity to underwrite businesses with an annual revenue of up to $1 billion, it was announced recently. With capacity from of global specialty (re)insurance provider Chaucer Group,… Read More

Insurtech Akur8 Announces Partnership with Louisiana Workers’ Compensation Corporation (LWCC)

Akur8, the insurance pricing solution powered by transparent machine learning, is excited to announce its recent collaboration with Louisiana Workers’ Compensation Corporation (LWCC), Louisiana’s largest workers’ compensation carrier, dedicated to excellence in execution from underwriting to life-long care of an injured worker. LWCC has selected… Read More

European Insurtech wefox Announces Appointment of Joachim Müller as CEO

wefox Holding AG has announced the selection of Joachim Müller as CEO with immediate effect. Mark Hartigan, who has served as both Chairman of the Board and interim CEO during the recent restructuring, will continue as Chairman of the board. Hartigan stepped into the CEO… Read More

Insurtech Akur8 Reports $120 Million Series C to Accelerate Growth of Actuarial Platform

Akur8, the machine learning-powered insurance pricing and reserving platform, announced that it has secured $120 million in series C funding, bringing its total raised investment to $180 million. This latest funding round was led “by One Peak, a growth equity firm investing in software scale-ups,… Read More

Insurtech Akur8 Expands Core Capabilities with Acquisition of Arius Reserving Solution

Akur8, an insurance pricing solution, has announced its acquisition of Arius, a P&C reserving software for insurers and reinsurers. Boasting a “robust” U.S. presence and a reputation for excellence, Arius’s portfolio “includes 150 insurance and consulting clients and over 1,500 users.” More than one-third of… Read More

Insurtech Ecosystem Secures $1.2 Billion in Investments During Q2 2024 Across 106 Deals – Research Report

In Q2 2024, $1.2 billion was reportedly invested across 106 deals in the insurtech vertical, representing a 27.1% QoQ increase in deal value and a 3.9% QoQ increase in deal count. This, according to an extensive update shared by PitchBook. The research team at PitchBook… Read More

Global Insurtech Firms Increasingly Focused on Embedded Insurance and Leveraging AI Algorithms – Report

The Insurtech 50 is CB Insights’ annual list of the 50 most promising private insurtech companies in the world. This year’s winners are working on everything from AI assistants to embedded insurance. CB Insights has unveiled the third annual Insurtech 50 — a list of… Read More

Auto Insurance Purchasing Activity Continued to Rise Even as Rates Stabilized in Q2 2024 – Research Report

Auto insurance purchasing volume set a new record for the second consecutive quarter, according to new research from TransUnion (NYSE: TRU). The number of U.S. consumers shopping for auto insurance “was up 7%, compared to Q2 2023 (YoY).” This trend has been driven in recent… Read More

Insurtech Cowbell, a Provider of Cyber Insurance for SMEs, Appoints Stephen Moss to Key Role

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), announced that insurance industry veteran Stephen Moss has been appointed to its Board of Directors. Moss brings three decades of industry experience and “is currently Group Head of Financial Lines and Cyber at… Read More

Australia’s EBM Insurance & Risk Partners with CyberCube, a Cyber Risk Analytics Provider

EBM Insurance & Risk, one of Australia’s privately owned insurance brokers, is pleased to announce a partnership with CyberCube, the provider of cyber risk analytics. This collaboration will see EBM licensing CyberCube‘s Broking Manager and Prep Module, significantly “enhancing its capabilities in cyber risk quantification… Read More

Fintech PhonePe Introduces Pre-Approved Term Life Insurance Feature on its Platform

PhonePe announced the launch of a ‘pre-approved term life insurance’ feature on its platform. The feature aims to make insurance coverage more “accessible and affordable for millions of Indians by waiving the requirement for proof of income at the time of policy purchase.” With this launch,… Read More

Insurtech: Kin Insurance, the Direct-to-Consumer Home Insurance Firm, Shares Latest Business Update

Kin Insurance has shared select operating results for the second quarter ended June 30, 2024. Kin finished the second quarter of 2024 “with $151.9 million in gross written premium, bringing the year-to-date total to $264.8 million.” Operating income jumped “from $1.0 million in Q1 to $5.2… Read More

Insurtech Funding Sees Strongest Quarter in Over a Year Despite Deal Volume Declining – Report

Insurtech funding sees its strongest quarter in over a year despite deal volume sinking to its lowest point since 2016, according to an extensive update from CBInsights. CBInsights notes in its latest repot that global insurtech funding “increased 44% quarter-over-quarter (QoQ) to $1.3B in Q2’24… Read More

DTCC Introduces Insurance and Retirement Services’ Producer Authorization Service

The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services industry, announced the launch of DTCC’s Insurance & Retirement Services’ (I&RS) Producer Authorization (PAR) service, “a standardized method for insurance vendors and distributors to communicate with carriers to verify… Read More

European Insurtech wefox Announces Completion of Transactions with Aim to Exit German Markets

As announced in June, wefox has continued to implement its exit from the German insurance market as part of the refocusing of its portfolio on profitable market positions of critical size. In this context, wefox Germany Holding GmbH has reportedly “reached an agreement with the… Read More

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