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Industry news

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.

Previous industry news

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.

InsurTech: the top five legal issues to consider
February 27, 2019. JDSUPRA
The insurance market is changing rapidly, driven by shifting customer expectations and technology progress. IoT and connected devices are transforming the industry, for example with the increasing use of telematics for motor insurance, wearable technologies and m-health apps for health insurance, and smart appliances and devices for home insurance.

InsurTech investment drops in 2018
February 18, 2019. Verdict
InsurTech investment in 2018 totalled $5.7bn, compared to $10.3bn in the previous year. While this is a massive drop in value, the number of InsurTech deals stayed relatively stable, dropping from 258 to 242.

In America, InsurTech is big business: KPMG
February 15, 2019. Digital Insurance
As a segment of the larger FinTech revolution, the InsurTech phenomenon is truly global. But it’s in the U.S. where it really shines, according to KPMG.

InsurTech funding surges in 2018 as key players expand: Deutsche Bank
February 08, 2019. Reinsurance
Insurtech investment volumes increased by more than 60% between 2017 and 2018, while key players such as Lemonade and Amazon also expanded their operations over the year, according to analysts at Deutsche Bank.

InsurTech reveals “Netflix for insurance” renter’s policy
February 06, 2019. Insurance Times
It believes that renters are the most under-served market in insurance. Home insurance insurtech, Urban Jungle has revealed a new £5 monthly fixed-rate renter’s insurance product, which it described as the “Netflix for insurance.”

2019 will be all about FinTech, HealthTech, InsurTech, IoT
February 05, 2019. Venture Burn
This year promises to be an exciting one ahead for SA startups and those in the startup scene — with lots expected from sectors like FinTech, HealthTech, Internet of Things (IoT) and South Africa’s VC market.

Predicting the Future of InsurTech
February 04, 2019. Insurance Though
InsurTech came into its own in 2018. We saw insurtech startups successfully funded or acquired and established insurtech companies beginning to actually compete with legacy insurers.

Six InsurTech start-ups to watch in 2019
January 29, 2019. Post Online
As Post gears up to launch the 2019 Insurtech 100 listing in association with Tallt, Post content director Jonathan Swift highlights six businesses that will hope to be featured in forthcoming rankings.

InsurTech in 2019: 4 questions whose answers will show the way
January 23, 2019. Digital Insurance
The past few years have seen feverish growth in visibility of insurance’s digital transformation. But as the movement gains in maturity, what’s next? I looked at a range of predictions to see if a roadmap is emerging for the direction of the industry.

Is the InsurTech Wave Hitting a Riptide?
January 22, 2019. Insurance Thought Leadership
The riptide analogy generates a powerful image of a turbulent sea, where the strong finally reach the shore, but the weak that succumb to the powerful currents are pulled back out to the sea. The InsurTech world is experiencing a similar struggle.

3 InsurTech Trends Accelerating in 2019
January 18, 2019. Insurance Thought Leadership
2018 was a breakout year for InsurTech companies, as the insurance industry has been long overdue for innovation and disruption. The year attracted both talent and funding to the industry.

Incumbent Insurers and InsurTech, Part 1: Partners in Time
January 17, 2019. Market Screener
The past 36 months in insurance make an excellent case study for university classrooms. How did InsurTech startups first threaten the insurance industry, then inspire the insurance industry and now end up as mentors, students and partners with the insurance industry?

8 Key InsurTech Trends for 2019
January 16, 2019. Insurance Thought Leadership
The industry used to be a tech laggard. No more. Though there’s still much work to be done, most insurers are now better-positioned to capitalize on their investment in technology.

How to cancel InsurTech Noise
January 09, 2019. Claims Journal
Insurtech, the buzzword of the insurance industry, has been impossible to avoid, appearing in email inboxes and at conferences virtually non-stop.

Trends in InsurTech 2019
January 09, 2019. Times
Several relevant technologies and trends in the field are creating a real revolution in the insurance field. The aim of these changes is to make the process of purchasing products and services more convenient, cheaper and smarter.

Learning by Doing and Undoing: InsurTech Pilots and Pivots
January 04, 2019. Insurance Journal
InsurTechs are great for the industry because it needs to change to be competitive, but InsurTechs are only going to be able to help change the industry if they themselves make money.

Global economy has become less resilient, but InsurTech can help: Swiss Re
January 04, 2019. Reinsurance
The global economy has become less resilient to shocks in the ten years following the financial crisis, but new public-private partnerships, in combination with the use and development of new technological capabilities, can help to strengthen it, according to reinsurance giant Swiss Re.

InsurTech no “silver bullet”
January 02, 2019. Insurance Business Magezine
InsurTech may have the capacity to improve countless facets within the insurance space but it’s certainly not risk-free. Now one senior figure says serious thought must be put into the development and implementation of any new technology.

5 InsurTech Questions for 2019 
December 24, 2018. Think Advisor
The return of investment market volatility could make 2019 a year when what life and annuity issuers really want out of information technology is stability. When the environment is calm, insurers may dream of fancy tech worlds of tomorrow.

Quarterly InsurTech Briefing Q3 2018 
December 20, 2018. Willis Tower Watson
Start-Up Company Profiles explores how a handful of new entrants are taking unique approaches to incorporate technology in order to address inefficiencies or coverage gaps within the existing insurance ecosystem, and how they are also using data (third-party and proprietary), advanced sensors and Internet of Things (IoT) capabilities to develop a new paradigm of insurance offerings for the connected world.

How Technology Is Expanding The InsurTech Landscape
December 17, 2018. Forbes
The insurance sector has a longstanding reputation for being resistant to change. Who can blame those who work in this industry? Avoiding risk is in their DNA.

Top 100 InsurTech: Quarter four update
December 13, 2018. Post Online
It’s time for the final 2018 update on the Insurtech 100, the global index compiled for Post by Tällt Ventures. Here founder and CEO Matt Connolly rounds up the latest investment and partnership news.

Incumbents may be falling behind in the InsurTech race
December 11, 2018. Intelligent Insurer
As money continues to pour into insurtech ventures, there is evidence that only the big, global technology players and true venture capital firms have pockets deep enough to precipitate true disruption in the insurance space. Simon Hayes investigates where this will leave the incumbent players.

Commercial InsurTech is like an exclusive club — and Google and Amazon aren’t invited
December 05, 2018. Techcrunch
Tech companies and VCs in the insurance space have probably read many of the news articles about Amazon and Google entering insurance. Given their nearly unlimited resources, this may be intimidating to some in the industry.

10 InsurTech predictions for 2019: XL Innovate 
December 06, 2018. Digin
It’s been another big year for InsurTech, with venture funding surpassing 2017 levels, the first unicorns outside of health insurance, and incumbent carriers doubling down on new technologies and solutions.

Biggest changes for InsurTech for 2019
December 04, 2018. Digital Journal
2018 saw a series of changes shaking up the insurance sector and the level of innovation and associated disruption looks set to continue into 2019. These include greater collaboration with big firms, blockchain and AI.

Hong Kong puts InsurTech on fast track 
December 03, 2018. Bankingtech
Hong Kong is issuing the first licence for an online-only firm next month, as it ups its FinTech game. Clement Cheung, CEO of Hong Kong’s Insurance Authority (HKIA), told Reuters it is planning to issue its first licence next month as a result of its fast-track system.

What Insurers Want and Get from InsurTech Partnerships
November 29, 2018. Insurance Journal
Remember the scene in the 1989 movie When Harry Met Sally? During lunch with Harry at a deli, Sally very publicly fakes a wild orgasm. A nearby patron, when asked what she’d like to order, signals in Sally’s direction and tells the waitress, “I’ll have what she’s having.”

InsurTech: Revolution, Evolution or Hype?
November 28, 2018. Insurance Thought Leadership
Artificial Intelligence (AI), machine learning, the Internet of Things (IoT), blockchain, robotics, quantum computing — the terminology of technology is staggering enough, let alone understanding what it is and how to use it.

3,000 job vacancies loom as Hong Kong’s InsurTech scene booms
November 27, 2018. Hongkong Business
As InsurTech startups sprout and thrive in Hong Kong, the demand for tech talent and risk managers is outpacing the supply of such employees, according to a report by recruitment agency Hays.

Company news

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.

DB Insurance Focuses on Innovation through InsurTech
February 26, 2019. English ET News
DB Insurance has emerged as the icon of insurance industry as it has started focusing on InsurTech. It established a department responsible for InsurTech with IT personnel and it is making partnership with various InsurTech companies.

Previous company news

BIBA Works With InsurTech Worry+Peace to Bring Insurance Customers to Brokers
March 07, 2019. Insurance News Net
The British Insurance Brokers’ Association (BIBA) has joined forces with the UK InsurTech, Worry+Peace to bring an all new, highly innovative facility to its members.

AXA XL joins forces with InsurTech to offer crowdfunding protection insurance
March 07, 2019. Insurance Business Magezine
AXA XL is collaborating with Assurely to create a new insurance product for issuers and investors – particularly those engaged in crowdfunding portals.

Astorg takes minority stake in UK InsurTech Acturis
March 01, 2019. Banking Tech
Financial details were not disclosed, but under the terms of the transaction, existing investor Summit Partners will exit its position. It had first got involved in 2010. Acturis employees will continue to own the majority of the company.

Zurich acquires U.S InsurTech firm Sea Pine Technologies
February 26, 2019. Banking Tech
Zurich North America has acquired 100% ownership of Sea Pine Technologies, a U.S InsurTech firm that specialises in developing digital applications for the marketing of vehicle protection products.

InsurTech Axinan unveils igloo
February 26, 2019. Finextra
Axinan, a Singapore-based InsurTech firm today announced the launch of igloo, catering on-demand digital insurance solutions to the everyday lifestyle needs of today’s millennials.

Nassau Re unveils InsurTech incubator to support insurance start-ups
February 22, 2019. Verdict
American re/insurer Nassau Re has launched an InsurTech incubator to provide support to start-ups focussed on life insurance, annuity and reinsurance industries.

InsurTech Startup Hippo Insurance Partners With Neptune Flood to Create Online Home & Flood Insurance Solution
February 21, 2019. Crowdfundinsider
InsurTech startup Hippo Insurance announced on Thursday it has teamed up with Neptune Flood, a data-driven flood insurance company, to launch a new online home and flood insurance solution.

Allianz X boosts fund size to €1bn for InsurTech action
February 21, 2019. Banking Tech
The firm, which is the digital investment unit of the Allianz Group, says the increase is the result of Allianz X’s “investment track record, successful collaborations with growth companies as well as the contribution towards the group’s overall digital transformation strategy”.

InsurTech-Driven MGA, Agile, Appointed as StarStone Partner in Australasia
February 15, 2019. Insurance Journal
Agile Underwriting Services Pty Ltd., the insurtech-driven managing general agency (MGA) and Lloyd’s coverholder, announced it has been appointed as a representative agent for global specialty insurer, StarStone, in Australia and New Zealand.

Munich Re invests in InsurTech start-up Inshur
February 14, 2019. Verdict
Commercial auto InsurTech Inshur has gained $7m in a Series A funding round thanks to Munich Re InsurTech investment. Apart from the $7m in equity funding, the InsurTech firm also secured $2m credit facility in the same funding round which was also joined by MTech Capital.

Aon partners with InsurTech Claim Central to modernise claim management
February 08, 2019. Verdict
UK-based re/insurance broker Aon has teamed up with InsurTech firm Claim Central to digitise and modernise its claim management capabilities.

Solera acquires European InsurTech firm
February 08, 2019. Insurance Business Magazines
Texas-based Solera Holdings, a provider of intelligent data and software as a service (SaaS) to manage the automotive, light and heavy truck fleet, home and identity sectors, has announced its acquisition of in4mo Oy, a European provider of SaaS-based software and services for the property-structure insurance and repair professional markets.

InsurTech Zego partners with French insurer La Parisienne for European expansion
February 06, 2019. Intelligence Insurer
London-based insurtech Zego, a provider of pay-as-you-go insurance for drivers and riders who work flexibly with their own vehicles, has partnered with France-based La Parisienne Assurances (LPA) to expand its services across Europe.

Swiss Re Partners with InsurTech Firm OZON, Offering Cyber Risk Solution in France
February 05, 2019. Insurance Journal
Swiss Re Corporate Solutions is expanding its cyber offering by launching CyberSolution 360°, a risk management solution that combines insurance with cyber attack protection services.

Argentina’s Banco Columbia chooses FinTech and InsurTech company novae as digital transformation partner
February 04, 2019. PRNewswire
Banco Columbia, with 59 branches across Argentina, has partnered with the fintech and insurtech company novae to support its digital transformation.

Conifer partners with AI InsurTech start-up Betterview
February 04, 2019. Verdict
Conifer Insurance Company, a commercial insurance provider, has selected insurtech Betterview’s artificial intelligence-powered Property Profile solution to support its underwriting needs.

Workers’ Compensation InsurTech Pie Insurance Enters 5 Additional States
January 25, 2019. Insurance Journal
Online seller Pie Insurance has started offering its workers compensation insurance in five more states, bringing the total to 14.The Washington, D.C.-based managing general agent disclosed it has begun marketing its policies to small businesses in New York, Michigan, Pennsylvania, Maryland and Nebraska.

Ohio InsurTech Root Plans to Expand Further, Grow Workforce
January 25, 2019. Insurance Journal
Columbus, Ohio-based Root Insurance, says it plans to expand into additional states in 2019 and increase its workforce by 150 percent.

InsurTech start-up launches live COI
January 24, 2019. Insurance Business Magezine
Bunker, a San Francisco-based InsurTech startup, has launched a program that provides real-time proof of insurance. Certificates of insurance are largely issued as PDF documents, which Bunker says are difficult to track, easy to fabricate, and can only provide static data.

InsurTech Setoo takes off with Invia Flights Germany
January 22, 2019. Banking Tech
London-based insurance and “Protection-as-a-Service” firm Setoo is airborne and in an affable mood as it has got its first customer. After its platform launch late last year, the insurtech start-up has now welcomed Invia Flights Germany onboard. The latter pools the flight business of portals.

“Mobile-first” InsurTech may be coming to Canada
January 16, 2019. Canadian Underwriter
A San Francisco-based firm calling itself a “mobile-first” property and casualty insurance brokerage might start placing home and auto coverage in Canada.

Aon joins SBC InsurTech programme
January 11, 2019. FSTech
Professional services giant Aon has become the latest industry partner for the Startupbootcamp (SBC) InsurTech CoLab (CoLab), a theme-based innovation program for mature markets.

PAL Network partners with Toyota Tsusho and Allianz for new InsurTech offerings
January 10, 2019. Verdict
Singapore-based InsurTech startup PAL Network has signed two memorandum of understanding (MoU) agreements with Toyota Tsusho and Allianz Malaysia to create blockchain-based insurtech offerings.

On-demand InsurTech Trov expands in U.S.
January 10, 2019. Verdict
Trov, an on-demand InsurTech for personal items supported by Munich Re, is expanding to four additional states.  The expansion follows Trov’s launches in the UK and Australia, and its first U.S. launch in Arizona over the past few years.

Braintri Drives InsurTech Innovation in Europe
January 08, 2019. Finnovate
Braintri announced this week that its insurance subscription platform, hiPRO Connector, is going live as part of a new agreement with Benefia, a division of Vienna Insurance Group.

InsurTech developers Prima Solutions and Effisoft complete merger deal
December 19, 2018. Reinsurance
InsurTech software developers Prima Solutions and Effisoft have completed a merger deal as part of a growth strategy to accelerate their development in the property and casualty (P&C), health and personal protection re/insurance markets.

JLT Re (North America), Pact Insurance announce InsurTech partnership
December 17, 2018. Reinsurance
The North American arm of JLT Re has partnered with Pact Insurance, a personal auto InsurTech company, to create a digital insurance solution that covers established and emerging mobility risks.

New Allianz Life Ventures and SixThirty partnership focuses on FinTech and InsurTech innovation
December 11, 2018. Silicon News
Earlier this month, Allianz Life Ventures, part of Allianz Life Insurance Company of North America, announced a strategic partnership with SixThirty, a St. Louis-based venture fund that specializes in investing in and scaling up FinTech and InsurTech startups.

Odysseus Alternative Ventures announces the launch of InsurTech Capital with the APICIL Group as a Strategic Partner.
December 11, 2018. Minhtran
Odysseus Alternative Ventures (OAV), the private equity and venture capital arm of Reech Corporations Group, announces a partnership with the APICIL Group, France’s 4th largest provider of social protection, to create its first Insurtech fund: Insurtech Capital I. Launched with a commitment of €10m.

Home Insurance InsurTech buzzvault launches
December 11, 2018. Virdict
Home insurance insurtech buzzvault, part of tech firm buzz, has launched in the UK.Home insurance insurtech buzzvault, part of tech firm buzz, has launched in the UK. Calling itself the “world’s first truly personalised home insurance policy”, it utilises digitised home contents data. Furthermore, the home insurance insurtech is in partnership with Munich Re Digital Partners.

Verisk to buy InsurTech Rulebook for $87m
December 04, 2018. Verdict
Verisk Analytics, a provider of data analytics servicers to property/casualty (P&C) insurers, has agreed to purchase UK-based InsurTech Rulebook in a cash deal valued $87m.

Small Business InsurTech CoverWallet Expands to Offer Its Tech, Markets Access to Agents
December 04, 2018. Insurance Journal
CoverWallet, a technology company that has been on a mission to “reinvent insurance for small business” customers, is now offering its platform for insurance agencies, the company revealed today.

MAPFRE launches InsurTech startup accelerator in Madrid
November 30, 2018. Verdict
Spanish insurance company MAPFRE has formally launched its new insurtech startup accelerator, known as insur_space.

FinTech and InsurTech company novae teams up with digital technology agency AAXIS to bolster its ecommerce, machine learning and AI capabilities
November 27, 2018. PRNewswire
The global FinTech and InsurTech company novae has teamed up with leading digital technology agency AAXIS to bolster the capabilities of alle2020, the global, white-label B2B2C digital capability framework it launched in October.

Events

Global InsurTech Summit
March 04-06, 2019 – Conference/Showcase
The Global InsurTech Summit is hosted by AltAssets and FinTech Global. We have served the global insurance, financial services, investment and technology industries for nearly two decades and built in-depth relationships with the senior decision-makers at a majority of the world’s largest insurance companies and financial institutions, including banks, asset management firms, pension funds, private equity fund managers, venture firms and family offices.

Insurtech Insights Europe 2019
March 19-20, 2019 – Conference/Showcase
Understand the market and problems you are challenged with solving. Sharpen your proposition and identify what parts of the insurance value chain are ripe for innovation. Build awareness by networking with investors and insurance executives

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.