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.
Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has added another experienced business development hire, with former Akinova and Inari employee Alexander Pike joining the company.
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Hudson Structured Capital Management, the insurance-linked securities (ILS), reinsurance, insurtech and transportation focused asset manager, has made a second investment in specialist flood underwriting managing general agent (MGA) reThought Insurance.
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The reinsurance renewal period has proven to be a challenging one for both capital providers and those looking to place risks, according to Giulio Genillard, Manager, Synpulse.
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Submitting “rich supply curves” for reinsurance capacity can result in a more successful allocation for a reinsurer, according to Tremor Technologies, the insurtech operator of a programmatic risk transfer marketplace.
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HSCM Ventures, the insurance technology venture investing arm of ILS and reinsurance specialist investment manager Hudson Structured Capital Management, has participated in a $25 million funding round for life insurtech Dayforward.
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Broking giant Aon is embracing the Open Exposure Data (OED) Standard for the risk modelling of property reinsurance placements, working alongside leading reinsurers to test the hypothesis that this can enhance the sector’s operational efficiency.
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Swiss-headquartered fintech startup Cerchia has raised CHF 1.3 million in seed funding from High-Tech Gründerfonds (HTGF) and other investors, to help finance the ongoing development and first product launch of its capital markets direct risk transfer platform.
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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has announced the hiring of Hector Ibarra as its new Vice Chairman of Latin America (LATAM).
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Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) insurtech that launched with a California wildfire focus, has announced its hiring of former Fidelis underwriting leader Brian Espie as Chief Underwriting Officer, while Amit Shah has been promoted to President of Kettle Limited.
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Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has made another key hire, bringing onboard former Aeolus Capital Management analyst James Anfossi as a Portfolio Manager based in Bermuda.
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