insurance technology News

Duck Creek Shares Jump; Coronavirus Drives Insurance Technology Demand

Shares of Duck Creek Technologies Inc. soared on their Nasdaq debut on Friday, after the software company serving the property and casualty insurance market raised $405 million in its upsized initial public offering (IPO). The stock jumped as much as …

P/C Insurance Software Firm Duck Creek Hikes IPO Price Range

Duck Creek Technologies Inc., a software company that serves the property and casualty insurance market, on Wednesday raised the price range for its initial public offering (IPO) and expects to raise about $375 million. Boston-based Duck Creek, which is backed …

Data Firm Palantir’s Partnership with Japan’s Sompo Insurance Targets Health, Cyber

Silicon Valley data analytics company Palantir Technologies Inc. has established a joint venture with Japanese insurance holding company Sompo Holdings Inc. that will initially focus on health and cybersecurity clients, Palantir said. The joint venture, owned 50-50 by Palantir and …

Bain, Vista Said to Be Weighing Sale of Software Firm Vertafore. Could It Bring $5 Billion?

Vista Equity Partners and Bain Capital are in the early stages of weighing a sale of insurance software maker Vertafore Inc., according to people familiar with the matter. The Denver-based company could be worth up to $5 billion in a …

How Big Tech Flirted with Insurance in 2018

The almost weekly headlines about insurers and venture capitalists investing in insurtechs and tech-savvy insurance startups sometimes blocked the view of what established big technology firms were doing in insurance. During 2018, giant technology firms Google and Amazon showed renewed …

Partnering with Insurtech to Transform Rather Than Disrupt Insurance

The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive, so it’s critical that insurance companies better understand how …

State Auto Labs Launches $25 Million Innovation Venture Fund

State Auto Labs Corp., the innovation arm of Columbus, Ohio-based State Automobile Mutual Insurance Co., has launched a $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry. State Auto Labs said it is collaborating with …

How and Why More Insurers Are Turning to Bots

As more bots handle claims and perform underwriting tasks, should human employees be concerned? Human industry experts say there’s no need to worry. Insurers in the U.S. and overseas are exploring the use of chatbots in their operations. According to …

Will Technology Make Insurance Obsolete?

“Will technology make insurance obsolete?” That was the stark question posed by William Hartnett, a former Microsoft and ACORD executive, in his opening address to the 2017 Global Insurance Symposium, April 26-27 in Des Moines. The annual event is sponsored …

Marsh Names IBM’s Drab as CEO of Technology Provider Dovetail Insurance

Insurance broker Marsh reported that Rich Drab has joined the firm as chief executive officer of Dovetail Insurance, a provider of insurance technology services for the U.S. small commercial market. In this role, Drab will focus on growing Dovetail’s business …