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Industry news

How Unknown InsurTech Achieved an IPO
June 18, 2019. Insurance Thought Leadership
On Dec. 4, 2018, the first InsurTech IPO in the West happened. It wasn’t, however, in London, Berlin or New York. Instead, it took place in Frankfurt, Germany. Around the world, congratulations rolled in, wishing the company the best with its freshly raised money.

Is InsurTech missing a $2 trillion opportunity?
June 13, 2019. Daily FinTech
This column typically focuses on insurance innovation/InsurTech, and all the whiz-bang artificial intelligence, algorithms, pain points, data analysis, blockchain, and innovation integration points that accompany that pursuit.

Claims Teams Need InsurTech, Too
June 09, 2019. Thinkadvisor
Digital technology is everywhere. Consumers are growing increasingly accustomed to carrying smartphones, tracking activity on wearable devices, and communicating via chat when seeking an online service. As the insurance industry strives to adapt to the evolving needs of today’s consumer, examples of these technologies are becoming more common.

InsurTech Needs a Legislative Framework
May 28, 2019. Insurance Thought Leadership
If the workers’ comp industry is serious about leveraging analytics and technology, then we need to create an innovation-friendly legislative framework. A consortium of major corporate players and industry groups should design, promote and lobby for high-level legislative clarifications suitable for all jurisdictions.

Previous industry news

InsurTech: Do We Need a New Model for Insurance?
May 23, 2019. Crowdfund Insider
Technology has changed us; it’s undeniable. It’s a safe bet to say that technology is going to continue to change us too.  It will continue to revolutionize how our society lives, works, plays, and transact business.

InsurTech: Ammunition for the pricing and underwriting ‘technology arms race’
May 23, 2019. Willis Tower Watson
Any apprehension about how InsurTech will add value in the insurance value chain is moot in pricing and underwriting. With support from InsurTech start-ups, insurers are going to be front runners or in the pack of an accelerating “technology arms race”.

The InsurTech that has boosted some brokers’ businesses by millions
May 21, 2019. Insurance Business Magazine
Many brokers are somewhat unsure or uneasy about InsurTech. For many it seems unnecessary, or perhaps even a threat. But when brokers get the right technology for their business, and use it correctly, it can lead to fantastic results.

What Every InsurTech Should Know About Privacy and Cybersecurity
May 16, 2019.JDSUPRA
As an early stage or startup InsurTech, you’re highly focused on all the right things: identifying a challenge for the insurance industry, developing an innovative technical solution, making it practical and scalable, getting it funded, and implementing it.

Report questions value of InsurTech despite record investment
May 13, 2019. Finextra
Investment in the insurtech sector reached record highs in Q1 2019 yet there is lack of obvious value in the many of the newest InsurTech offerings, according to a recent report.

InsurTech industry sees record Q1 deal-making
May 10, 2019. FSTech
InsurTech investors worldwide executed the highest number of transactions and the highest volume of Series B and Series C funding rounds during the first three months of 2019, according to Willis Towers Watson.

Here’s How InsurTech is Tackling Singapore’s Ageing Problem
May 08, 2019. FinTech News
Let’s suppose you accidentally tore your ligament in the knee while exercising in the gym tomorrow. Do you know how much you’d need to pay for medical fees?

InsurTech Start-Up Brings Much Needed Transparency – And Savings – To Insurance Purchasing
April 24, 2019. PRNewswire
Disruption has finally come to the insurance industry, as one start-up has introduced technology that promises time- and cost-savings to consumers by providing them instant – real, not estimated – quote comparisons for home and auto insurance through a user-friendly digital platform that can complete an entire purchase within minutes.

Insurer, insurTech collaboration will benefit NZ market – report
April 12, 2019. Insurance Business Magezine
New Zealand insurers have a significant opportunity to embrace the benefits of insurTech to help them deliver better customer experience and value.

High street brokers the next InsurTech targets
April 11, 2019. Insurance Business Magezine
When you say the word ‘InsurTech’, what probably comes to mind is a hip start-up in a converted warehouse, full of tech wizzes wearing t-shirts and trainers.

How InsurTech is helping respond to climate risk
April 04, 2019. Dig-In
With climate change a factor in some of the most destructive catastrophes worldwide, the insurance industry is taking notice. Ruth Foxe Blader, managing director with venture-capital company Anthemis, is responsible for identifying insurtechs that are helping carriers minimize risk.

How InsurTech Will Revolutionize Inland Marine by Cutting Costs
April 04, 2019. Insurance Journal
InsurTech advances will soon drive down unacceptably high expense ratios in the inland marine sector, making it possible to insure even hard-to-place, small or one-off inland marine risks at the best possible rates.

InsurTech Shaking Up The Life Insurance Industry
April 02, 2019. Insurance News
Although the insurance industry is known for moving slowly when it comes to change, the insurtech revolution is forcing executives out of their comfort zones.

EIOPA analyses InsurTech licencing
March 28, 2019. FSTech
The European Insurance and Occupational Pensions Authority (EIOPA) published its report on best practice among authorities licensing InsurTechs across Europe. As part of the European Commission’s Fintech Action Plan, the document presents a mapping of current authorising and licencing approaches to financial innovation.

How the rise of InsurTech is impacting the insurance industry in an unexpected way
March 18, 2019. Insurance Business Magezine
The InsurTech movement isn’t just infusing the insurance supply chain with new solutions – it’s also bringing more diversity into the industry, according to one expert.

Disrupting the InsurTech sector one tap at a time
March 09, 2019. Tech Fruit
When I decided to let my flat through Airbnb back in 2016, I knew exactly what kind of insurance I was looking for. I needed a policy that would protect my property, protect my guests, and protect me against the risks of doing business, while providing the kind of short-term flexibility the sharing economy thrives on.

Irish InsurTech hub brings feast in southeast
March 08, 2019. Banking Tech
The plan is to improve “Ireland’s attractiveness” for foreign direct investment in the insurance space, resulting in 50 new businesses and supporting the creation of 300 jobs by 2022.

The InsurTech that is easing brokers’ pain
March 04, 2019. Insurance Business Magazine
From the founding of Direct Line back in 1984, to the explosion of price comparison websites in the 90s, insurance brokers are used to being told about threatening new arrivals that could take away their business.

InsurTech UK announces latest members
March 07, 2019. FSTech
Insurtech UK, the industry’s new association, has revealed its latest associate members and partners. This body’s core membership now stands at more than 40 InsurTech industry stakeholders, with Lloyd’s of London, Hiscox, Holloway Friendly and Bascule all named as associate members ahead of a formalising its association status in the coming months.

Company news

InsurTech Zywave acquires insurance rating firm RateFactory 
June 14, 2019. Verdict
Zywave, a provider of insurance tech of sales management and client delivery solutions, has purchased insurance rating engine RateFactory, for an undisclosed sum.

InsurTech Uinsure launches “Zero Questions Asked” quotation 
June 10, 2019. Verdict
Insurtech Uinsure has launched its “Zero Questions Asked” functionality for general insurance quotations. Customers only need to provide title, name, date of birth and postcode. Following that, a binding quote for their home insurance is provided by a panel of the UK’s leading insurers.

How an InsurTech uses pre-fill data to a homeowner’s best advantage 
June 06, 2019. Canadian Underwriter
One InsurTech based in the United States is pre-filling data in home insurance application forms to help answer questions that customers may not be able to answer themselves.

AI-powered auto InsurTech Avinew to acquire Betterdrive 
June 06, 2019. Verdict
Avinew, an American InsurTech firm specialising auto insurance for autonomous and semi-autonomous cars, has agreed to acquire Betterdrive for an undisclosed sum.

Previous company news

Riverside makes strategic investment in German InsurTech ACTINEO 
May 31, 2019. Verdict
The Riverside Company has made a strategic investment in Germany-based InsurTech firm ACTINEO, which specialises in providing bodily injury claims services to insurance carriers in the country.

Uber collaborates with Inshur to offer cheap insurance plans to drivers 
May 31, 2019. Verdict
Digital insurance platform INSHUR and ride hailing firm Uber have teamed up to prove an assortment of insurance plans to its drivers. A recent study reveals that more than half of drivers waited a day or more for their policy and 11% waited for one or two weeks.

LeaseLock and Boost Insurance Announce Strategic Insurtech Partnership 
May 22, 2019. PR Newswire
LeaseLock Insurance Services, Inc. (LeaseLock) and Boost Insurance (Boost) announce their strategic partnership. LeaseLock, backed by Boost’s platform, offers a first-to-market insurtech product for the rental housing market, enabling enterprise multifamily companies to protect against losses typically funded by inefficient security deposits and surety bonds.

InsurTech, Cover, Now Selling Its Own Auto Policies in Texas
April 25, 2019. Insurance Journal
Cover, a mobile-first insurance brokerage, has begun selling its own auto insurance policies in Texas. The new service — an evolution from the company’s nationally-licensed insurance brokerage.

SoFi goes insurtech with Lemonade and Root
April 25, 2019. Banking Tech
The San Francisco-based company teamed up with Lemonade and Root, adding three types of insurance to the company’s existing portfolio. An integration with New York-based Lemonade will provide home and renters insurance, while Ohio-based Root will offer an auto insurance option.

Meet the insurTech: Avibra aims to be the Netflix of life insurance
April 25, 2019. Digital Insurance
Yogesh Shetty’s Avibra’s vision was to “offer a Netflix-type subscription for overall well-being that automatically provides an opportunity to bundle longevity services and a mortality product.

U.S. Insurtech Lively Expansion Health Savings Account Accessibility With New Mobile App
April 11, 2019. Crowdfundinsider
Lively, a U.S.-based insurtech, announced on Thursday the launch of its new iOS mobile app, which offers more accessibility to customers’ health saving accounts (HSAs).

Grange, Rev1 Ventures team up for insurTech-focused initiative
April 10, 2019. Verdict
American insurance company Grange Insurance and its affiliate partner Integrity Insurance have joined forces with startup studio Rev1 Ventures to support InsurTech-focused startups.

Plug and Play InsurTech signs Achmea as their first partner from the Netherlands
April 09, 2019. Compelo
Achmea has joined the Plug and Play global innovation platform as the largest insurance provider in the Netherlands.Achmea employs about 14,000 staff in the Netherlands and conducts business in five other countries around the world.

InsurTech start-up Zego offers first usage-based fleet insurance policy to ride-sharing market
April 04, 2019. Compelo
InsurTech firm Zego has made its first move into the commercial fleet space through a partnership with WeFlex, a company that leases vehicles to drivers working for Uber and other rideshare services

Synechron partners with InsurTech UK to promote innovation in UK insurance sector
April 01, 2019. Money Control
Synechron, a Digital IT Consulting firm for financial services, has announced a strategic partnership with Insurtech UK, in an effort to help promote the need for innovation within the UK insurance sector.

InsurTech Slice Lab unveils new AI-based tool to predict insurance risk
March 29, 2019. Verdict
American insurtech start-up Slice Labs has launched its new business unit to help firms personalise, experiment, simulate and predict insurance risk with AI.

Florida Insurtech HoneyQuote Rolls Out Real-Time Rating Engine, Adds Heritage to Platform
March 26, 2019. Insurance Journal
HoneyQuote.com has added a new carrier partner and launched its real-time rating engine, which lets Florida homeowners compare multiple home insurance quotes and purchase a policy online.

A+ Asset to Enter InsurTech Market
March 19, 2019. ET News
Major GA (General Agency) called A+ Asset is planning to launch its own mobile application and compete with others regarding Insurtech services. It is taking this measure as paradigm within insurance industry has recently revolved around InsurTech based on IT and Big Data.

Capgemini joins Hartford InsurTech Hub
March 19, 2019. Insurance News Net
Capgemini announced today that it has joined the Hartford InsurTech Hub. Powered by Startupbootcamp, the Connecticut-based hub is a global accelerator set up to help the insurance industry advance its innovation goals by scouting technology solutions provided by startups around the world to meet the industry’s core business challenges and aspirations.

InsurTech Zego Launches in Spain
March 08, 2019. FinTech Times
Zego, the London-based InsurTech, has launched in Spain, offering its range of flexible insurance products to scooter delivery riders and private hire vehicle fleets. The launch, accompanied by the opening of a new office in Madrid, is another milestone in Zego’s ambition to disrupt the European insurance.

Events

InsureTech Connect
September 23-25, 2019 – Conference/Showcase
InsureTech Connect is the world’s largest insurtech event — offering unparalleled access to the largest and most comprehensive gathering of tech entrepreneurs, investors and insurance industry incumbents from across the globe.

InsurTech Rising International
October 08-09, 2019 – Conference/Showcase
The global gathering for the InsurTech industry. 450+ InsurTech entrepreneurs, incumbents and investors from across the world driving the insurance digital revolution.

Insurance Innovators
November 13-14, 2019 – Conference/Showcase
The very best of the insurance industry comes together from across the globe for two jam-packed days to challenge the traditional world of insurance. With 4 stages of content, over 120 speakers and 800+ attendees the potential to learn, boost business and grow your network is huge

Previous events

FinTech + – October 1-2, Zurich

October 1 – 2, 2018 – InsurTech, Conference/ Showcase
FinTech+, the Swiss Global Marketplace, is Switzerland’s largest and most International FinTech event. FinTech+ brings together FinTech leaders from around the world in Zurich, offering a global marketplace for wealth management, insurance and social finance anchored in Switzerland.

InsurTech Connect – October 2-3, Las Vegas

October 2-3, 2018 – InsurTech, Conference/ Showcase
InsureTech Connect is the world’s largest InsurTech event — offering unparalleled access to the largest and most comprehensive gathering of tech entrepreneurs, investors, and insurance industry incumbents from across the globe.

Reports

Quarterly InsurTech Q4 Briefing – Willis Towers Watson/ CB Insights
Willis Re

2018 Following another year of record investment, this in-depth report highlights a full year’s worth of 2017 InsurTech activity. By investing heavily in start-ups and technology, (re)insurance companies sent a message to potential disruptive outsiders and assumed a semblance of control over the InsurTech revolution.

The  Future of InsurTech in Germany: InsurTech Radar 2017 – Oliver Wyman
Oliver Wyman

The German InsurTech market continues to develop very dynamically. One can rightfully speak of a start-up boom. But how sustainable is it? We applied the tried and tested InsurTech Radar methodology to evaluate the developments and compare the results to those obtained in 2016. With this, our InsurTech Radar provides orientation for all players in the insurance market.

2018 InsurTech Impact 25 – Oxbox Partners
Oxbox Partners

There are many InsurTech lists and landscape infographics.  What really matters is identifying the winners. Members of Oxbow Partners InsurTech Impact 25 have achieved revenue growth and have a technology-led proposition that can transform incumbents or the insurance industry as a whole.

InsurTech sector quarterly update, Q3 July 2017
Insure Tech News

With the help of Venture Scanner data, InsurTechNews is now able to offer you a quarterly update on the state of the InsurTech sector.