Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry’s products were not fully addressing the needs of commercial property insurance …
Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. “We think we’re the only insurtech firm involved in cyber reinsurance from an underwriting perspective,” said Jonathan …
Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering, you have to …
Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not commodity players. They aim to bring …
Mergers and acquisitions (M&A) in the global insurance industry rose in the first half of 2020 with 201 completed deals worldwide, up from 197 in the second half of 2019, according to Clyde & Co’s “Insurance Growth Report” mid-year update. …
An insurtech managing general agency focused on commercial auto insurance has raised $16 million in new Series A financing, a climate-risk related platform has $4.2 million in new seed financing, and a home insurance reciprocal and MGA focused on catastrophe-prone …
It’s not just insurtech startups that have an edge on innovation. Some established reinsurers have developed their own analytics and technology divisions that offer a variety of insurtech-type solutions for clients. Swiss Re, for example, set up such a unit …
The Lloyd’s re/insurance market announced the latest cohort of insurtech disruptors that will join its Lloyd’s Lab innovation accelerator program with a focus on COVID-19 products and solutions. The insurtechs will look at new types of insurance to support the …
With the National Oceanic and Atmospheric Administration (NOAA) warning 2020 will see “above-normal” hurricane activity, Skytek, in collaboration with Aon plc, has responded to the needs of marine re/insurance companies with a new hurricane tracking system, which enables them to …
Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. “It’s definitely a bearish market” said Chakravarty, who is seeking funding …
