insurtech 2017 News

Netflix vs. HBO and the Race to the Insurance Customer

“The goal is to become HBO faster than HBO can become us,” the chief content officer of Netflix said four years ago. In the insurance world, InsureTech Connect Conference founder Caribou Honig thinks traditional insurers and insurtech startups are facing …

Language Lessons for Property/Casualty Insurers

InsurTech leaders speaking at the InsureTech Connect Conference in October had a message for traditional insurers they have probably heard before: The language that insurance agents and carriers use is creating a gulf between insurers and customers who struggle with …

American Family Insurance Acquires Data Analytics Firm; Also Home Tech Firm

American Family Insurance said it intends to accelerate its use of data, advanced analytics and artificial intelligence (AI) with its purchase of Chicago-based data and analytics software company Networked Insights. American Family is a Networked Insights client and has been …

Gibraltar Introduces License for Fintech Firms Using Blockchain

Gibraltar’s financial services watchdog will introduce the world’s first bespoke license for “fintech” firms using blockchain distributed ledger technology (DLT) from next month in a bid to attract start-ups to the British overseas territory as it prepares for Brexit. The …

Insurtech Firm Quantemplate Names Lundgren as CEO; Gets £2.5M in New Capital

Quantemplate, a London-based insurtech firm that specializes in machine learning data transformation and analytics, announced that David Lundgren has been appointed CEO and board director. The company has also received £2.5 million (US$3.3 million) of new capital to accelerate its …

Coalition, a Cyber Insurer and Cybersecurity Firm, Makes Its Debut

Coalition is making its formal debut into the cyber insurance space, but with a twist. The San Francisco-based startup is also a cybersecurity firm. Founded in March 2017, Coalition is co-founded by technology entrepreneurs John Hering and Joshua Motta, and …

Artificial Intelligence Startup Cytora Raises $5.9M from QBE, Starr, Other Investors

Artificial intelligence startup Cytora has raised $5.9 million in new financing from investors including divisions of QBE’s venture capital arm and Starr Cos. QBE Ventures, Starr Global Holding, Cambridge Innovation Capital, Cambridge Enterprise and Parkwalk Advisors all participated in the …

Insurtech MGA Wrisk Gets UK Regulatory Authorization

On the heels of its recent successful crowdfunding raise, the app-based insurtech managing general agent Wrisk has made another major step forward, receiving full authorization from the UK’s Financial Conduct Authority. At the same time being formally admitted into the …

Octo Telematics Buys Usage-Based Insurance Assets of Willis Towers Watson

Octo Telematics, the the London-based provider of telematics for the auto insurance industry, announced it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson, which was announced on Oct. 11, 2017. The financial details of …

AFL Insurance Brokers Taps RK Harrison’s Stagg to Drive Tech Innovation

AFL Insurance Brokers Ltd. announced that re/insurance broker George Stagg has joined the company to lead its technology incubator division as associate director, innovation. Stagg joins from RK Harrison, where he was most recently a terrorism political violence and war …