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 made another key hire, bringing experienced London and European insurance and reinsurance market exec Anthony Southern onboard as its Director of Insurance Markets UK & Europe.
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One Concern, a resilience-as-a-service solutions provider with a focus on providing upfront information on potential financial impacts of climate related loss events, has appointed former RMS employee Tim Kinsella as its Executive Director, Sales – P&C Insurance.
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Hudson Structured Capital Management (HSCM), the reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, has financed insurtech homeowners specialist Kin Insurance again, this time as a participant in a $145 million debt capital raise.
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Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has announced the completion of a Series C funding round sized at $80 million, which it says values the firm at $1 billion.
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Direct-to-consumer and fast-growing insurtech company Kin Insurance has detailed its current expectations for the impacts of hurricane Ian to its business, which suggests reinsurance recoveries are anticipated and that its Hestia Re Ltd. (Series 2022-1) catastrophe bond should be considered at-risk of triggering.
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Tremor Technologies, the insurtech operator of a programmatic insurance and reinsurance risk transfer marketplace, has announced a new Reinsurer Product Council, a group of eight global reinsurance companies and ILS funds who will help to set the future product development roadmap.
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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has made another key hire, bringing onboard Brad Livingston, an executive with significant insurance-linked securities (ILS) market experience, as its new Head of Risk Capital Solutions.
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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has announced another key hire, appointing Jeffrey Khoo to lead its Asia Pacific expansion plans.
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Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has promoted one of its senior employees Lukas Schönach to become its Global Origination Practice Lead.
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The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has made a key hire, appointing Matt Coleman who most recently worked at Nephila Climate as its Chief Risk Officer.
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