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.
Extraordinary Re, a start-up creating a platform that will allow investors to access a broad range of insurance risks more easily, has signed up with trading, clearing and exchange technology and services company Nasdaq to use its market technology.
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Insurance-linked securities (ILS) investors responded to 2017 catastrophe events with growth and optimism and further expansion is expected throughout 2018, with InsurTech offering some potential, according to Bill Dubinsky, Managing Director and head of ILS at Willis Towers Watson Securities (WTWS).
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Insurance and reinsurance linked investment specialists Solidum Partners has created, issued and settled a second private catastrophe bond on the blockchain, with a roughly $15 million multi-tranche transaction which we’ve added to our Deal Directory as Jungfrau IC Limited 2018.
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Two very interesting (in their own ways) insurance and reinsurance deal rumours were revealed last night, as news broke that Japanese technology conglomerate SoftBank is considering taking a large stake in Swiss Re, and that Allianz is looking at a deal with Bermudian giant XL Group.
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Asset manager Lombard Odier was one of the investors that participated in the first blockchain based secondary trade of catastrophe bond notes, as the firm’s ILS investment team purchased a chunk of the near $15 million Dom Re IC Limited 2017 private cat bond.
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Gryphon Group Holdings Limited, the insurtech start-up that hopes to launch disruptive insurance ventures into established sectors and that raised £180 million, including capital from ILS fund manager Leadenhall Capital Partners, has acquired Guardian Assurance Limited and will operate the protection business it is building under the Guardian brand.
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Nasdaq inc. created the world’s first electronic share trading platform and stock exchange and is now among the largest providers of trading, clearing and exchange technology, so it’s intriguing to learn that the organisation is looking into new markets and that trading of reinsurance is one potential avenue of expansion.
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Solidum Partners AG, the Swiss based catastrophe bond and ILS investment fund manager, has successfully completed the first ILS secondary trade on a blockchain, after a new investor member joined its private ILSBlockchain and entered into the transaction with one of Solidum’s funds.
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Hudson Structured Capital Management Ltd., the insurance-linked securities (ILS), reinsurance and transportation investment manager, has invested in insurance technology start-up Goji, a data-driven home and automobile insurance distribution platform.
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Resilience Economics Ltd. has been launched today by Cedent Ltd., as a new corporate finance advisory specialist focused on climate risk solutions, with an initial $500 million of capacity backing provided by strategic partner Nephila Capital Ltd.
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