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.
A technology start-up is targeting the insurance-linked securities (ILS) market as potential users for its newly developed catastrophe reinsurance underwriting and pricing platform.
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Insurance technology (insurtech) and insurance-linked securities (ILS) start-up Ledger Investing has successfully completed its first transaction, directly securitizing a portfolio of non-standard passenger auto insurance between an MGA and the AIG-owned ILS fund manager AlphaCat.
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Digital risk trading insurtech start-up Akinova has secured an investment boost from reinsurance firm Hiscox Re and the venture arm of Japanese insurance holding company MS&AD.
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Following the successful completion of the first fully programmatic reinsurance transaction, Artemis spoke with the Chief Executive Officer (CEO) of InsurTech start-up Tremor Technologies, Inc., Sean Bourgeois, about the placement, as well as the involvement of the insurance-linked securities (ILS) space.
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Insurance technology (InsurTech) start-up Tremor Technologies, Inc. has successfully completed the first fully programmatic placement of a property catastrophe reinsurance program for a top-20 U.S. property and casualty insurer.
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Global reinsurance firm Swiss Re has newly identified an enormous $500 billion global property (catastrophe and non-catastrophe) and mortality risks protection gap, saying that this is an opportunity for insurance and reinsurance markets to boost global resilience.
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Paul Jardine, of Catlin and XL Catlin experience, is the latest senior figure to join the advisory board of digital risk trading insurtech start-up Akinova.
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Seeman Holtz Property & Casualty, LLC has acquired Boston-based online home and auto insurance technology platform Goji, a transaction that insurance-linked securities (ILS), reinsurance and transportation investment manager Hudson Structured Capital Management Ltd. was involved in as an investor in both firms.
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An insurance-linked securities (ILS) vehicle has been listed on the Bermuda Stock Exchange (BSX) that will ultimately house transactions entered into on the Tullett Prebon owned Insurance Linked Notes issuance and trading platform.
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The speed and magnitude of change that is coming over the next five to ten years will completely revolutionise the commercial insurance and reinsurance space, according to partners at PwC.
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