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 insurtech company Kin Insurance is back in the catastrophe bond market to sponsor its third issuance, seeking $200 million or more in Florida named storm protection from this Hestia Re Ltd. (Series 2025-1) transaction.
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CatX, the digital catastrophe and parametric risk exchange company, has announced the launch of its AI-powered Catamaran Parametric platform, which has been designed to streamline the complexities of parametric protection for investors.
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You would be forgiven for thinking the industry had moved on from the debacle that was the Vesttoo reinsurance letter of credit (LOC) fraud, but legal action continues and the latest case to be filed sees fronting specialist Clear Blue Insurance suing China Construction Bank for damages.
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CelsiusPro AG, the Swiss headquartered weather index insurance and parametric risk transfer specialist, has launched ParameterPro 2.0, which is the latest iteration of its technology platform for brokers and the company says it can streamline parametric insurance structuring and modelling for them.
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Oxbridge Re Ltd., the Cayman Islands based reinsurance company, is planning to expand its offering of tokenized reinsurance securities that fund its collateralized reinsurance sidecar vehicle Oxbridge Re NS, with the launch of a second tranche of notes that appear set to have a lower risk-return profile.
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Members Capital Management Limited, a Bermuda-based asset manager focused on bringing new sources of reinsurance capital to the insurance-linked securities (ILS) sector using digital and tokenized assets, has appointed UK public and private sector leader Lord Chris Holmes MBE to its strategic advisory board.
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Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) MGA, has announced the appointment of Isaac Espinoza as its new CEO.
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Descartes Underwriting, a data-driven risk transfer specialist managing general agency (MGA) and insurer with a parametric focus, has launched a Strategy & New Business Division with two key hires, as the company looks to expand the scope of its scientific underwriting offering.
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CatX, a digital catastrophe and parametric risk exchange start-up, has announced an important hire for the company, bringing onboard experienced London-based reinsurance and retrocession broker Jon Wood to become the firm’s first Head of Origination.
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Aon’s segregated accounts company White Rock Insurance (SAC) Ltd. has filed a lawsuit in New York against China Construction Bank, alleging an “inside man” at the bank had represented that letters of credit (LOC) involved in the Vesttoo fraud were authentic, and claiming a minimum $140 million in damages from the bank for the losses […]
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