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.
Direct-to-consumer and fast-growing insurtech Kin Insurance is aiming to upsize its first catastrophe bond issuance, with its target for the Hestia Re Ltd. (Series 2022-1) issuance now set between $150 million and as much as $200 million of Florida hurricane reinsurance protection.
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Hudson Structured Capital Management Ltd., the reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, has made a further investment commitment to support auto and rideshare focused insurtech Buckle, participating in an extension of the startups debt facility.
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As the US Securities & Exchange Commission (SEC) publishes a new set of proposed rules on climate risk disclosure, it’s becoming increasingly clear regulating for climate risk reporting is going to drive risk management and risk transfer spend, with ramifications and opportunity for insurance, reinsurance and insurance-linked securities (ILS).
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HSCM Ventures has led a Series A funding round totalling $10 million for Layr, an insurtech that utilises artificial intelligence and machine learning technologies to help brokers and agencies more efficiently manage their small commercial insurance books.
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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 launched a new climate appraisal service that is designed to provide an assessment of climate-driven risk and provides an input to help companies hedge their climate exposure.
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Insurance-linked securities (ILS) investment fund manager Fermat Capital Management has entered into a partnership with ICEYE, a provider of satellite data and services to inform decision-making and analysis, to gain more granular data and insights into flood events and other natural hazards.
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Vesttoo, the insurtech that uses proprietary artificial intelligence and machine learning to help companies assess and transfer risks to the capital markets, has closed on an aggregate stop-loss treaty reinsurance arrangement for a large Lloyd’s syndicate, with Acrisure Re broking the deal.
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Direct-to-consumer and fast-growing insurtech Kin Insurance is entering the catastrophe bond market for the first time, seeking $100 million of Florida hurricane reinsurance protection with a Hestia Re Ltd. (Series 2022-1) issuance.
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Vesttoo, the insurtech that uses proprietary artificial intelligence and machine learning to help companies assess and transfer risks to the capital markets, has hired a number of high-profile members to spearhead its global expansion as the company strives towards its $7 billion capacity target.
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Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has launched impressive specific functionality to allow buyers and sellers of retrocession to trade in UNL, parametric and blended products.
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