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.
Insurance-linked securities (ILS), reinsurance, insurtech and transportation focused investment manager Hudson Structured Capital Management Ltd. has again put its weight behind home insurtech company Kin Insurance, this time in supporting its acquisition by a SPAC company.
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Hudson Structured Capital Management Ltd., undertaking its insurance and reinsurance investment business as HSCM Bermuda, has participated in a $44 million capital raise for CAPE Analytics, a technology firm offering structured property and geospatial data and analytics.
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Things are hotting up in the weather risk management and parametric risk transfer technology space and Arbol, a smart contract, parametric risk transfer and weather insurance marketplace technology provider is one of the companies leading the charge.
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Parsyl Inc., a provider of data-driven, sensor-based systems that are used in parametric risk transfer and insurance, has made a pay-out under a temperature linked policy in less than 8 hours.
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As climate change becomes a topic of increasing focus and with regulations poised to get tighter, the ability to customise parametric insurance solutions suggests that going forward, the product set is going to expand, according to industry experts.
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Root Insurance, an insurtech that launched with an auto insurance focus and is now expanding into renters and homeowners cover, has placed its June property catastrophe reinsurance program renewal using Tremor Technologies programmatic risk transfer marketplace Panorama.
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Hudson Structured Capital Management Ltd., undertaking its insurance and reinsurance investment business as HSCM Bermuda, has invested in home and auto insurtech firm Branch for a second time, participating in a $50 million Series B fund raise.
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Hudson Structured Capital Management Ltd., investing in insurance and reinsurance as HSCM Bermuda, has participated alongside venture investors in a $100 million Series C fund raise for Embroker, a digital business insurance platform.
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Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has experienced strong demand in the run-up to the renewals, with more than $700 million of reinsurance capacity sought from its platform by clients in May 2021 alone.
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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 initiative through which it aims to democratise access to climate data that is useful for risk transfer, insurance or reinsurance transactions.
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