Insurance technology, now known more widely as Insurtech, has the potential to bring significant efficiency & disruption to reinsurance, ILS & risk transfer markets.
Insurtech a hot trend with everyone from traditional reinsurance incumbents, as they seek to improve efficiency and stay ahead of the game, to brokers who are seeking to avoid disintermediation, to insurance-linked securities (ILS) players who see it as a way to enhance the efficiency of their capital even further.
The potential for Insurtech and Fintech initiatives to bring efficient capital, such as ILS capital and alternative reinsurance capital from third-party investors, more directly into contact with risk is huge. The opportunities to use technology to shorten and optimise the chain from original risk, to insurance, to reinsurance, to retrocession (or final capital source), will create winners and losers in the market, making this a trend to watch closely.
The insurance and reinsurance industry is facing historically high pressure to reinvent its business model in order to stay relevant, according to PwC, and as you might expect capital, how it’s managed and how it’s deployed, as well as its efficiency, is seen as a catalyst for growth.
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CatX, the digital catastrophe and parametric risk exchange company, has merged with fellow Bermuda-based risk software company Cactus and launched the Cactus Risk Studio to enable clients to leverage artificial intelligence (AI) to power risk decisions and risk transfer.
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Parametric specialist Descartes Underwriting has announced the hiring of insurance market veteran Sébastien Bardy to the newly created position of Chief Financial Officer, who joins the organisation from German insurer Allianz.
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Aeolus Capital Management Ltd., the specialist insurance-linked securities (ILS) and reinsurance investment manager, is researching and working with artificial intelligence tools to see how the technology can add detail to modelling of perils and aid in making risk selection decisions.
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Following the recent launch of its tokenized fund MCM Fund I, Artemis spoke to Benjamin Fox, Co-Founder and Chief Investment Officer of Members Capital Management Limited (MembersCap), who explained how the fund opens up the private reinsurance market to a group of investors who previously had no exposure to this asset class.
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HSCM Ventures, the technology and venture investing arm of insurance, reinsurance, ILS and transportation focused investment firm Hudson Structured Capital Management Ltd., has led an $8 million Series B fundraising round for life insurtech Inclined Technologies.
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In the latest twist in the long-running Vesttoo saga, where fraudulent collateral was found to be sitting behind reinsurance deals via letters of credit (LOC) that turned out to be forged, the creditors to the failed insurtech’s bankruptcy trust are now suing broker Aon and China Construction Bank, alleging fraudulent conduct and blaming them for […]
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As per a new report from reinsurance broker Gallagher Re, artificial intelligence (AI) solutions can significantly contribute to reducing the time needed to create new catastrophe bond structures, which may ultimately enhance the confidence of prospective investors in the market.
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CelsiusPro, the parametric insurtech, has announced that it has appointed 15-year industry veteran Isa Ennadifi, formerly of global insurers Allianz and AXA and reinsurer SCOR, as its new Group Chief Underwriting Officer (CUO).
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Reask, the catastrophe modelling and climate analytics specialist, has announced that it has launched a new alert service that gives insurers and catastrophe modelling teams early, region-specific insight into developing storms using advanced windfield forecasting.
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