InsurTech and innovation

B3i emerges from (re)insurers wing into separate legal entity

B3i, the blockchain research initiative formed by a consortium of (re)insurers in 2016, has officially become its own independent entity with a Zurich registered company.

Lloyd’s warns of financial penalties for failure to comply with PPL mandate

Syndicates that do not meet the usage targets of the Lloyd’s electronic placement platform - PPL - will pay additional fees and may be subject to capital loading.

Canopius, Channel Syndicate and Liberty form $27bn trade credit consortium

The Channel Syndicate, Canopius, and Liberty Specialty Markets have set-up a consortium to provide capacity for Toredo, an online platform for single situation trade credit insurance.

Claims to be next priority for TOM initiative

The London Market Group (LMG) has said that claims transformation will become the next focus for the Target Operating Model (TOM) in 2018.

XL, Aspen and the M&A barometer

As XL Group’s share price spiked over 12 percent last night in the midst of Softbank’s bold wade into the (re)insurance arena with a mooted minority stake in Swiss Re, the industry’s M&A speculation barometer shot through the roof.

Disruption Daydreams

We all dream big.

Lloyd’s mulls mandating PPL after slow take-up

Lloyd’s of London has announced plans to mandate its electronic placing platform PPL as it says take up is not happening “fast enough”.

Catlin joins Aquiline Capital Partners

Insurance entrepreneur Stephen Catlin (above) has joined the New York-headquartered Aquiline Capital Partners to advise the private equity firm on potential new investments, Reinsurance can reveal.

Treating data like oil is stifling innovation: Aon

Innovation in the sector is being stifled because companies are treating data like another commodity such as oil, Aon’s global CEO of analytics, Paul Mang has said.

eReinsure to Offer Blockchain Placement Service

Online broker eReinsure.com is gearing up to launch a new blockchain service to its reinsurance platform in the coming months on the back of growing client demand, the company announced today (8th January).

Barbican commissions “next ten years” London market study

Lloyd’s insurer Barbican has celebrated its ten-year anniversary today (23 November) by commissioning a year-long study into how the London market may evolve over the next decade.

InsureTech start-up ChainThat receives major Xceedance investment

The (re)insurance consulting and outsourcing firm Xceedance has made a multi-million dollar investment in ChainThat, a block chain technology firm based in London that was only launched in 2015.

New back office deal to save London market £100mn

A new five-year contract which will see bureau services for the London market continue to be outsourced to DXC Technology has been heralded by the London market for its future cost savings.

Transformation is now inevitable, Munich Re

The reinsurance industry must undergo a digital transformation if it is to keep pace with the changing shape of world business.

Esser continues AFL build out with senior Lockton hire

AFL Insurance Brokers Ltd (AFL), the minnow Lloyd’s broker that was recently acquired by former Cooper Gay CEO Toby Esser, is continuing its recent build out with the hire of Lockton broker Neil Crouch.

Marine insurers facing a “new era of disruption”

Opening its annual conference in Tokyo this week, the president of the International Union of Marine Insurance (IUMI), Dieter Berg warned marine insurers that they are facing a new era of disruption.

Insurance needs to innovate to close poverty trap

The growing role of insurance in enhancing the ability of millions of people around the world to afford medical care has been highlighted on a new report from Swiss Re’s research arm.