Insurtech

January 10, 2024 @ 3:29 pm By Omar Faridi  |  

Cyber insurance provider Cowbell announced its cyber insurance solutions are extending their reach beyond small and medium-sized enterprises (SMEs), now catering for mid-market businesses with an annual turnover of up to £1 billion. Backed by A+ rated (re)insurers, US-based Cowbell officially “entered the UK market… Read More

January 9, 2024 @ 11:16 pm By Omar Faridi  |  

PolicyStreet, a regional insurtech company, secured approval from the Labuan Financial Services Authority (LFSA) to commence its Takaful and Retakaful operations. This accreditation positions PolicyStreet among “the select group of approved Takaful and Retakaful operators in Malaysia, granting the insurtech company the capability to reinsure… Read More

January 2, 2024 @ 12:17 pm By Omar Faridi  |  

NEXT Insurance’s CEO has shares his 2024 predictions with CI. In a detailed note, the firm has commented on key 2024 industry predictions, which are attributed to NEXT Insurance’s Guy Goldstein. Guy’s insights aim to reflect on the major developments and trends in the insurance… Read More

December 26, 2023 @ 10:59 am By Omar Faridi  |  

CoverForce, the “independent “API delivering instant quote and one-click bind from the leading insurance carriers, announced a partnership with agency management system, NowCerts. Through this partnership, NowCerts has “launched an instant commercial lines quote and bind platform enabled by leveraging CoverForce’s API infrastructure.” Cyrus Karai,… Read More

December 23, 2023 @ 3:36 am By Omar Faridi  |  

Traditional reinsurance companies will start offering meaningful cyber capacity in 2024 as cyber insurance is “one of the fastest growing lines of insurance to emerge in a generation,” according to the CEO of cyber risk analytics specialist, CyberCube. In a series of predictions from CyberCube… Read More

December 22, 2023 @ 4:11 am By Michael Wong  |  

Sumitomo Life Insurance Company (Sumitomo Life) has agreed to acquire all shares of Singapore digital insurer Singlife held by TPG, which currently owns about 35% of the insurtech firm. Furthering its investment, Sumitomo Life plans to extend offers to purchase shares from the remaining shareholders… Read More

December 19, 2023 @ 5:02 pm By Omar Faridi  |  

Lydia, a mobile banking application, has partnered with insurtech Qover to introduce a seamless travel insurance experience. This offering is exclusively available “to Lydia’s premium cardholders, known as Black+ users, in Belgium, France, Portugal and Spain.” Qover’s embedded insurance orchestration platform is at the heart… Read More

December 18, 2023 @ 11:31 pm By Omar Faridi  |  

CyberCube, the insurance industry’s cyber analytics company, has launched Version 5.0 (v5) of Account Manager, the software-as-a-service (SaaS) solution designed explicitly for underwriters. Account Manager v5 reportedly “extends the capabilities of Portfolio Manager, CyberCube’s portfolio modeling product.” For clients that license both solutions, this gives… Read More

December 18, 2023 @ 3:46 pm By Omar Faridi  |  

The Green Insurer, a car insurance provider committed to reducing drivers’ impact on the environment, launched a new car insurance product “that rewards customers for driving responsibly.” The Green Insurer calculates “a driver’s carbon footprint by analysing driving data and fusing it with information about… Read More

December 18, 2023 @ 9:28 am By Omar Faridi  |  

Prima Seguros, an Insurtech that acts as an insurance agency specialized in the automotive sector, aims to “reach 100,000 active clients in 2024, more than doubling its premiums to 20 million euros.” This update comes after a successful first year of operations in the country,… Read More

December 16, 2023 @ 12:22 pm By Michael Wong  |  

OneDegree, a Hong Kong-based insurer specializing in digital assets, has formed a strategic alliance with Dubai Insurance Company to introduce digital asset insurance in the United Arab Emirates (UAE). This partnership includes Dubai Insurance’s investment in OneDegree’s Series B funding round. The collaboration aims to… Read More

December 14, 2023 @ 9:16 pm By Omar Faridi  |  

In Q3 2023, $1.7 billion was invested across 115 deals, “representing an increase of 53.0% in deal value but roughly flat in terms of deal count, QoQ,” according to the latest Insurtech industry report from Pitchbook. The deal value was “the highest amount over the… Read More

December 7, 2023 @ 10:20 pm By Omar Faridi  |  

Millennial Shift Technologies Inc. has announced a strategic collaboration with CyberCube, the cyber risk analytics platform. mShift is a digital platform that allows insurance professionals to “quote, bind and issue multiple lines of business within the small to medium enterprise (SME) cyber liability space. mShift is… Read More

December 1, 2023 @ 4:09 pm By Omar Faridi  |  

Cowbell, a provider of cyber insurance for small- and medium-sized enterprises (SMEs), today announced a collaboration with Microsoft and Ingram Micro Inc. Through this collaboration, Cowbell policyholders “gain access to complimentary Microsoft Exchange migrations to Microsoft 365 Business Premium, empowering SMEs to harness the full… Read More

November 28, 2023 @ 10:16 pm By Omar Faridi  |  

Insurance is the biggest expense for gig companies, according to a recent update. Uber says its insurance costs “are roughly 10% of its gross bookings, exceeding $11B in 2022. Insurance-related costs are also rising every year.” In 2022, a top 10 auto insurer reportedly “increased… Read More

November 27, 2023 @ 1:54 pm By Omar Faridi  |  

hyperexponential and Akur8 announce a new partnership that will integrate their complementary pricing decision intelligence capabilities to offer insurers an automated, data-driven system for accurately pricing commercial and specialty insurance products. The partnership enables insurers to “integrate rating factors calibrated in Akur8 into pricing models… Read More

November 22, 2023 @ 5:42 pm By Omar Faridi  |  

LOTTE HIMART, one of the largest electronic goods retailers in South Korea, has partnered with international insurtech bolttech in order “to launch the country’s first-ever home appliance switching service.” Powered by bolttech’s embedded insurance technology, the service will “enable LOTTE HIMART customers to easily replace… Read More

November 22, 2023 @ 4:43 pm By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, announced it has named two new members to its Board of Directors, Deb Schwartz and Dr. Samer Haj-Yehia, “effective immediately.” The newly named Directors will “succeed departing Directors Irina Novoselsky and Silvija… Read More

November 21, 2023 @ 9:17 am By Omar Faridi  |  

Akur8 released a new research paper for the actuarial community entitled “Derivative Lasso: Credibility-Based Signal Fitting for GLMs.” Developed by a team of actuarial scientists at Akur8, including Mattia Casotto, Head of Product for the U.S. and Principal Scientist, and Thomas Holmes, Chief Actuary for… Read More

November 20, 2023 @ 8:29 am By Omar Faridi  |  

wefox, the European insurtech, has appointed Paul Onnen as Chief Technology Officer, with immediate effect. Mr. Onnen takes over the role from Sergi Banos who “was promoted to Chief Platform Officer (CPO) as the company accelerates its plans to launch the platform that will connect… Read More