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.
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 […]
Read the full article
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.
Read the full article
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).
Read the full article
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.
Read the full article
Siena Capital Group, LLC has announced that it has appointed Mathys Baldacchino as Director of Research and Development, as the firm continues to expand its leadership team since its establishment earlier this year.
Read the full article
A bank transfer has been highlighted in an ongoing Vesttoo fraud legal case, showing $4 million in funds sent to a China Construction Bank account in the name of Yu Po Holdings, the entity that was purported to have been the main investor providing collateral behind reinsurance deals where letters of credit (LOC) proved to […]
Read the full article
Members Capital Management Limited (MembersCap), the Bermuda-regulated investment manager, launched its first tokenised insurance-linked securities (ILS) fund, MCM Fund I on the Archax digital asset exchange, marking a notable milestone in bridging institutional reinsurance and blockchain-based finance.
Read the full article
Members Capital Management Limited (MembersCap), the Bermuda-regulated investment manager has completed the investment of its initial portfolio through its fund, MCM Fund I, the first tokenised institutional-grade reinsurance fund designed to open new capital channels to both digital asset investors and traditional allocators.
Read the full article
Descartes Underwriting, the parametric risk transfer specialist, has announced the launch of a new fully customisable Flood-at-Location parametric flood insurance product for U.S. commercial customers.
Read the full article
Descartes Underwriting, the parametric risk transfer specialist, has secured a strategic investment from Battery Ventures, a global technology-focused global investment firm.
Read the full article
