Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Profit-Driven Automakers Race to Next Level of Not Quite Self-Driving Cars
Jul 15 2020 // Autopilot, ProPilot, CoPilot: Automakers have many names for new systems that allow for hands-free driving, but no safety or performance standards to follow as they roll out the most significant changes to vehicle...
There’s Still Work to Do Addressing Ethics in Autonomous Vehicles
Jul 9 2020 // There’s a fairly large flaw in the way that programmers are currently addressing ethical concerns related to artificial intelligence (AI) and autonomous vehicles (AVs). Namely, existing approaches don’t account...
Canadian Insurtech MGA Foxquilt Raises Seed Funding to Develop Small-Biz Platform
Jul 9 2020 // A Canadian insurtech focused on small business insurance said it raised $3.5 million in seed financing. Foxquilt, a Toronto-based MGA startup, said the funding will help it become a full-service insurance provider with a...
Kovrr Develops Open Framework for Measuring Catastrophic Cyber Risk
Jul 9 2020 // Kovrr, a cyber risk modeling company, announced it has developed an easy-to-use open framework to measure and understand catastrophic cyber risk exposure. The CRA-Zones™ framework defines the minimal elements needed to...
Lloyd’s Innovation Accelerator Focuses on COVID-19 Market Response with 3 Insurtechs
Jul 8 2020 // Lloyd’s has started work with three insurtech startups to help the market respond to the COVID-19 pandemic. As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has expanded the...
QBE Sells Stake in India Insurance Joint Venture to Fintech Platform Paytm
Jul 8 2020 // India’s financial technology platform Paytm is set to acquire Mumbai-based private sector general insurer Raheja QBE General Insurance Co. Ltd. The acquisition is subject to customary conditions, including approval...
UK-Based Tech Platform Xchanging Hit by Ransomware Attack
Jul 6 2020 // DXC Technology announced that certain systems of its subsidiary, Xchanging, have experienced a ransomware attack. Xchanging is primarily an insurance managed services business that operates on a standalone basis. Tysons,...
Coverage Creativity
Jul 6 2020 // This morning, I wrote an article for the CPCU CLEW (Coverage, Litigators, Educators & Witnesses) Interest Group called “On Becoming an Insurance Coverage Nerd.” This afternoon, in this column, I get to...
Maryland Insurance Commissioner Birrane Sees State as Leader in Tech Innovation
Jul 2 2020 // Maryland Insurance Commissioner Kathleen Birrane has been in her new role for nearly two months, and she already has big plans for the state to establish itself as a leader in the tech space. “I’d like to see...
Insurance Startup Lemonade Increases Target Price Range for IPO
Jul 1 2020 // SoftBank Group Corp.-backed insurance startup Lemonade Inc on Wednesday increased the target range for its U.S. initial public offering, looking to raise up to $308 million at a market capitalization of $1.54 billion. The...
Insurtech MGA Delos, Canopius to Offer Wildfire Protection Coverage in California
Jun 29 2020 // Delos Insurance Solutions, a property insurtech managing general agent (MGA), has created a new insurance product with Canopius US Insurance designed to improve the homeowners insurance options for those living in wildfire...
Orchid Insurance, Specialty Lines Startup CrossCover Form CAT-Focused MGU
Jun 26 2020 // Orchid Underwriters Agency, LLC, an independent managing general underwriters focused on catastrophe-exposed residential and commercial lines properties, has launched CrossCover Insurance Services, a new MGU that will...
Senators Propose ‘Scalpel, Rather Than Jackhammer’ to Reform Internet Liability
Jun 25 2020 // Two U.S. senators on Wednesday introduced legislation to reform part of a federal law that largely exempts tech platforms such as Facebook and Twitter from legal liability for the material their users post. The...
Winners Announced for 5th Annual Efma-Accenture Innovation in Insurance Awards
Jun 22 2020 // Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture, the professional services company, have announced the winners of the fifth annual Innovation in Insurance Awards...
AI-Powered Supply Chain Software in Demand Amid Coronavirus Disruption
Jun 19 2020 // For the past seven years, a Munich-based firm called riskmethods has tried to interest companies in buying software that allows them to track all their suppliers in a way that minimizes risks in operating globally spread...
Justice Department Outlines Proposed Overhaul of Social Media Immunity
Jun 19 2020 // The Justice Department on Wednesday outlined a broad overhaul of legal protections for online platforms such as Alphabet Inc.’s Google and Facebook Inc. if they deliberately promote illegal speech on their...
Insurtech Buckle Acquires Atlas Financial’s Commercial Auto Subsidiary, Gateway
Jun 17 2020 // Buckle, an insurtech startup focused on rideshare insurance, has acquired Gateway Insurance Co., a subsidiary of Schaumburg, Illinois-based Atlas Financial Holdings, for an undisclosed price. The move allows Buckle to...
Trump Administration to Unveil Proposal for Changing Immunity for Tech Platforms
Jun 17 2020 // The U.S. Justice Department will propose legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet’s Google and Facebook have had for decades, a department official said on...
Smart Cameras at Amazon Provide Real-Time Social Distancing Feedback to Employees
Jun 16 2020 // Amazon Inc. is pairing cameras with artificial intelligence to enforce social distancing among employees in its offices and warehouses. The system gives employees real time feedback on whether they are complying with the...
Nationwide Insurance Joins Investors in Planck’s $16 Million Financing Round
Jun 15 2020 // Nationwide, eyeing the possibilities with technology startup Planck’s small commercial insurance data platform, has joined the company’s latest financing round. Planck recently raised $16 million in a Series B...
