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.
Following the first successful catastrophe risk transaction to use the Tullett Prebon owned Insurance Linked Notes (ILN) platform, $10 million of insurance-linked securities (ILS) have now been listed on the Bermuda Stock Exchange (BSX).
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The InsuResilience Solutions Fund, which is part of the InsuResilience Global Partnership, will fund and support the development of an index-based crop and livestock insurance solution for smallholder farmers in South Africa.
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Lloyd’s of London has revealed an ambitious “Blueprint One” which lays out a strategy to “build the most advanced insurance marketplace in the world” part of which includes new capital rules and processes and a goal to make it simpler for ILS capital to access the market.
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The Tullett Prebon owned Insurance Linked Notes (ILN) platform has successfully completed its first issuance and settlement of catastrophe risk linked notes, in a transaction involving at least one ILS fund manager in LGT ILS Partners.
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Hudson Structured has invested in another insurance technology firm, helping Columbus Ohio based commercial insurance technology firm Bold Penguin complete a $32 Million Series B funding round.
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Speaking yesterday to an audience at the InsureTech Connect conference in Las Vegas, Markel Co-CEO Richard Whitt explained that his company is going all in on insurance-linked securities (ILS).
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A pair of senior reinsurance buyers agreed that using the programmatic reinsurance risk placement marketplace of Tremor Technologies, Inc. helped them to save time and money, making the process more efficient.
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An index-based livestock insurance program has paid out to almost 3,000 smallholder farmers in Ethiopia, after its parameters were breached by satellite data inputs, triggering payouts of the drought protection the scheme provides.
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An insurance-linked securities (ILS) transaction to protect the Central Fund of the Lloyd’s insurance and reinsurance market is “not off the table” according to executives speaking at a media briefing today.
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Insurance-linked securities (ILS) fund managers and investors are showing “huge interest” in accessing the returns of the Lloyd’s market currently, according to its CFO Burkhard Keese.
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