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.
Descartes Underwriting, a specialist underwriter of parametric risk transfer opportunities, has joined the International Cooperative and Mutual Insurance Federation (ICMIF) as a Supporting Member to help tackle climate risk.
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Fundamental Global Inc. (FG Nexus) has entered an agreement to sell a majority stake of its FG Reinsurance Division (FGRe) to Devondale Holdings LLC, led by renowned industry veteran Tom Heise.
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Broking giant Aon and fronting specialist Clear Blue Insurance have put their trading relationship first to reach an out of court settlement in relation to a lawsuit over the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo, Artemis has been told by a number of market sources.
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Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has said that two tranches of tokenized reinsurance securities that fund its collateralized reinsurance sidecar vehicle for 2025 remain on-track to deliver attractive returns. But the prior year vintage of the tokens appears to have been impacted by losses due to hurricane Milton.
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Members Capital Management Limited (MembersCap), the Bermuda-regulated investment manager that seeks to bring reinsurance investing to a wider audience leveraging digital ledger technology, has become the first company to utilise the London Stock Exchange Group’s new Digital Markets Infrastructure (DMI) platform.
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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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