InsurTech and innovation

Ward working on multi-line (re)insurance MGA start-up

Former Willis Re executive Conan Ward is talking to high-rated carriers, investment funds and technology firm Qomplx about a potential MGA platform that would look to write reinsurance, retro and select facultative and insurance lines, The Insurer can reveal.

Akinova adds TMR founder Hoshina to advisory board

Tatsuhiko Hoshina, founder and former CEO of Tokio Millenium Re (TMR), is the latest insurance stalwart to join the panel of industry executives on insurtech Akinova’s board of advisors.

Markel leads Q2 e-placement table as Lloyd’s exceeds target

Markel Syndicate 3000 has flown to the top of the second quarter league table of Lloyd’s adopters of PPL – the e-placing platform that was rolled out in the London subscription market 18 months ago – after ranking 42nd in Q1.

MS&AD adds $80mn to technology start-up investment pot

Japanese MS&AD – holding company parent of MS Amlin – has increased the size of its Silicon Valley, California-based corporate venture fund to a total of $120mn, as the firm looks to broaden its group digitisation strategy.

QBE partners with trade credit MGA Nimbla

QBE has entered into a partnership with MGA start-up Nimbla that will see the (re)insurer provide capacity to the trade credit carrier on a delegated underwriting authority basis.

IRB Brasil Re plans to acquire 8.93% of B3i

Brazilian reinsurer IRB Brasil Re intends to take an 8.93 percent stake in industry blockchain initiative B3i for a value of Eur3.5mn ($3.9mn), as it looks to appoint a representative to the insurtech’s 9-strong board of directors.

The rise of the insurtech unicorn

After only rare sightings of insurtechs valued at more than $1bn previously, the industry’s unicorn club has recently admitted new members - at a time when some traditional insurers are scaling back their insurtech commitment.

Q2 insurtech deal value tops $1.4bn, volume falls

The second quarter was the fourth in a row with new insurtech funding over $1.2bn and also saw a record number of strategic investments by (re)insurers, according to Willis Towers Watson.

Homeowners insurtech Hippo raises $100mn

Hippo has raised $100mn in a Series D funding round led by technology investment firm Bond, pushing the homeowners insurtech’s total funding to $209mn.

Insurtech Qomplx secures $78.6mn investment

Virginia-based analytics platform Qomplx has raised $78.6mn in its latest funding round, led by investment firms Cannae Holdings and Motive Partners.

Brit names Birch head of innovation

Brit has appointed James Birch to the newly created role of head of innovation.

Allianz invests $20mn in big data firm Arabesque S-Ray

Allianz X, the $1bn technology investment arm of German giant Allianz, has injected $20mn into environmental, social, and governance (ESG) metrics provider, Arabesque S-Ray, in a bid to make more sustainable investment decisions.

Carolin takes top job at B3i

Industry blockchain initiative B3i has named John Carolin CEO in succession to Paul Meeusen, who stepped back from the role to become an advisor to the board in March this year.

Hudson Structured leads RiskGenius investment round

Policy language insurtech RiskGenius has expanded client partnerships with Everest Insurance, FM Global and Liberty Mutual and secured a Series B financing led by Hudson Structured Capital Management.

Convex looks to Cytora for AI-enhanced underwriting

Convex has entered a partnership with insurtech Cytora, as the Paul Brand and Stephen Catlin-led startup looks to incorporate artificial intelligence into its underwriting model.

Akinova launches new funding round

Insurtech Akinova has opened up a Series B investment round to boost the commercial operations of its electronic marketplace – built to transfer and trade cyber-focused (re)insurance risks – following an “over-subscribed” Series A fundraiser.

Lloyd’s explores smart contracts to boost efficiency

Lloyd’s has taken the first step towards making smart contracts and parametric insurance a reality, as the marketplace continues to target innovation and efficiency.

Firm orders bound on PPL platform soar to 250,000

Approximately 250,000 firm orders have been bound on the Lloyd’s electronic placing platform, PPL, since its launch in 2016.

AIG’s Blackboard appoints underwriting head from CNA

John Mizzi has been appointed head of growth and underwriting at Blackboard Insurance, replacing Ed Pulkstenis, who moves into a newly created role of head of machine augmented solutions.

NA casualty chief Holtmeier to leave JLT Re

Gregg Holtmeier, who was North American casualty team leader at JLT Re, is set to leave the firm as its operations are integrated with Guy Carpenter, The Insurer can reveal.

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