Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Aon, Insurtech Startup Etherisc Launch Blockchain-Based Agriculture Insurance
Jul 1 2019 // Aon plc has partnered with anti-poverty organization Oxfam and insurtech startup Etherisc to launch a blockchain-based platform that provides agriculture insurance for smallholder farmers in Sri Lanka. Nearly 200 Sri...
Preparing for the Unpredictable Talent Considerations for CAT Season
Jul 1 2019 // The combined global losses from natural disasters in 2017 and 2018 were the highest ever for a two-year period. While no single major catastrophe caused massive destruction in 2018, nearly 400 smaller natural disasters...
Insurance Agents Have Come to Embrace Insurtech. When Will Carriers?
Jul 1 2019 // There used to be a time when independent insurance agents were wary of what disruption insurtech might bring. They feared a future where all insurance transactions were done digitally — eliminating the need for the...
U.S. Jury Finds Huawei Stole Silicon Valley Startup’s Trade Secrets
Jun 28 2019 // A federal jury in Texas has ruled that Huawei stole trade secrets from a Silicon Valley startup, but it didn’t award any damages. After a three-week trial, jurors in U.S. District Court in Sherman, Texas, determined...
Indiana Court: IBM Owes State More Than $70M in Automation Dispute
Jun 27 2019 // Indiana’s Supreme Court has decided IBM Corp. must pay the state more than $70 million over the company’s failed effort to automate much of the state’s welfare services. The court ruling upholds lower...
Chubb, Hiscox, Tokio, Other Lloyd’s Underwriters Form Innovation Facility to Insure Emerging Risks
Jun 26 2019 // A group of Lloyd’s underwriters has launched a new facility with £53 million ($67.5 million) of capacity that is designed to speed up re/insurance product development for new and emerging risks. The Product...
Senators Eye Making Tech Giants Reveal How Much Customers’ Data Is Worth
Jun 26 2019 // As Congress bears down on big tech companies, two senators want to force giants like Google, Facebook and Amazon to tell users what data they’re collecting from them and how much it’s worth. The legislation...
Data-Driven Insurance Future Clouded by Data Ownership Uncertainty
Jun 26 2019 // Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out...
Kentucky Looks to Encourage Insurtech Investments Through Regulatory ‘Sandbox’
Jun 26 2019 // The Kentucky Legislature has passed the first state law in the U.S. providing comprehensive framework for an insurance regulatory “sandbox” for insurance technology products. The new regulatory sandbox, which...
Argo Deploys Insurtech Platform from AVYST to Streamline Risk Submissions
Jun 21 2019 // Argo Group International Holdings, the Bermuda-based specialty re/insurer, has adopted an insurtech platform that enables managing general agents, wholesalers and independent brokers to submit, quote and bind risks...
What to Expect in Agency Technology
Jun 21 2019 // To say the agency technology space is robust is an understatement. Right now, the industry is seeing an “onslaught of technology available to enable agents and brokers to better manage, not only their business, but...
Tesla’s Autopilot System Confuses Drivers About Extent of Automation: Safety Report
Jun 21 2019 // Automakers including Tesla Inc. are stoking confusion among motorists by choosing names for their automated-driving systems that wrongly suggest they’re more capable than is actually the case, according to the...
Senator Calls for Facebook, YouTube, Twitter to Lose Immunity If Politically Biased
Jun 20 2019 // Technology platforms such as Facebook Inc. and Google’s YouTube could face a flood of lawsuits unless they can demonstrate their treatment of users’ content is politically neutral, under a measure that U.S....
Hub Acquires Assets of Atlanta-based Insurtech In-Fi; Hires Chasteen
Jun 18 2019 // Hub International Limited, has acquired the assets of CBIS, LLC, d/b/a “In-Fi” (In-Fi). Terms of the transaction were not disclosed. Established in 2016 by co-founder Jon Chasteen, In-Fi developed a...
ACORD InsurTech Innovation Challenge’s European Winner Is Riskbook
Jun 17 2019 // ACORD, the global standards body for the insurance industry, has announced that Riskbook was the winner of the London semi-final round of the ACORD InsurTech Innovation Challenge (AIIC), with RITA and Optimiz.Claims named...
How Insurtech Will Revolutionize Inland Marine by Cutting Costs
Jun 17 2019 // Insurtech advances will soon drive down unacceptably high expense ratios in the inland marine sector, making it possible to insure even difficult-to-place, small or one-off inland marine risks at the best possible...
A Place for Technology at Every Point in the Claims Process
Jun 17 2019 // The digital transformation of the insurance industry isn’t just for insurtech startups any more. At Allstate, 60 percent of claims are now filed with a cell phone application that allows policyholders to take photos...
Announcing eSURETY®V7: Industry Leading Surety Automation Software
Jun 13 2019 // Ponte Vedra, FL, June 13, 2019- “For the past 21 years, eSURETY®, the leading surety bond software developer, has produced the best software for automated underwriting, operations, bond lifecycle management, agency...
Al Specialists omni:us and FRISS Partner to Offer Claims, Fraud Detection Services
Jun 12 2019 // Two artificial intelligence providers — omni:us and FRISS — are teaming up to “supercharge” insurance claims management and fraud detection. omni:us is a provider of AI-based cognitive claims...
MGA Insurtech GetSafe Lands $17M Financing to Fuel European Expansion
Jun 11 2019 // A managing general agent in Germany that relies on artificial intelligence for its customer platform has raised $17 million in first-round financing. Getsafe’s new money will help propel an expansion into Great...
