Reinsurance News
InsurTech news
Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.
Berkshire Hathaway’s Gen Re reveals growing predictive analytics uptake
20th April 2017
Berkshire Hathaway’s Gen Re - a leading life/health and property/casualty reinsurer - released results from its first global predictive analytics survey for life and health insurers, revealing low but growing levels of analytics uptake within a sector still struggling to innovate. The report surveyed 136 insurance carriers across 23 countries, and ... Read the full article
Ex-Goldman analyst Nannizzi Joins W. R. Berkley to focus on insurtech investments
19th April 2017
Michael Nannizzi, who was previously the lead equity analyst covering insurance at Goldman, Sachs & Co., is joining insurance and reinsurance group W. R. Berkley Corporation to take on a role focusing on evaluating investments in insurtech start-ups. Reflecting the importance of emerging insurance technology companies in the re/insurance industry, Nannizzi ... Read the full article
Hiscox appoints new Chief Information Officer
19th April 2017
Insurance and reinsurance group Hiscox has appointed a new Chief Information Officer (CIO), naming Ian Penny, previously CTO of Barclays in the role. At Hiscox, Penny will be in charge of the Group's IT, with a team of 300 under his leadership and will report directly to CEO Bronek Masojada. Penny replaces ... Read the full article
Technology – shifting global awareness and perception of re/insurance: Swiss Re
13th April 2017
Swiss Re’s Chief Executive Officer (CEO) of Reinsurance, Moses Ojeisekhoba, has pointed to “encouraging” signs that technology is shifting global perception and awareness of insurance, as it simultaneously transforms the industry’s products into shorter-term, bite-size, and more cost-efficient solutions. Ojeisekhoba suggested people’s perceptions of insurance and its use is the “most important thing ... Read the full article
R3 and ACORD launch centre of excellence for distributed ledger tech
12th April 2017
R3, the financial technology, distributed ledger and blockchain consortium, have joined forces with ACORD (Association for Cooperative Operations Research and Development) to launch a Centre of Excellence for distributed ledger technology (DLT) for the global insurance industry. R3 has major insurers including MetLife, AIA and Suncorp Group, as well as other ... Read the full article
Conning forecasts record levels of M&A activity in 2017
10th April 2017
A record number of M&A transactions in the distribution end of the market, with tech-driven service providers and equity brokers at the forefront of the transaction boom, is predicted for 2017 in investment management firm, Conning’s, annual global insurance M&A study. Insurance brokers and private equity sponsors have been leading the ... Read the full article
Munich Re and Sompo become major investors in insurtech start-up Trov
7th April 2017
Munich Re’s venture capital subsidairy, HSB Ventures, has led a $45 million investment in technology start-up Trov, that will see the reinsurer act as investor and underwriting partner as the start-up expands into Europe, Asia and South Africa, Reuters reported. Japanese insurer Sompo Holdings has joined forces with the German reinsurance ... Read the full article
Big data enables re/insurers to develop new products & models: Insurance Europe
30th March 2017
Technological advances and the rise of big data in the global risk transfer industry enables insurers and reinsurers to develop new solutions and adapt their business models to remain relevant in a rapidly changing world, which should benefit consumers, says Insurance Europe. In response to the European Supervisory Authorities’ (ESAs) joint discussion paper on ... Read the full article
Harnessing big-data essential for re/insurers
17th March 2017
Learning to harness big-data to their benefit is essential for insurers and reinsurers looking to maintain and increase their market shares and profitability, according to Fitch Ratings. The rating agency explains in a new report that those failing to keep pace with technological change and innovation, such as how to leverage ... Read the full article
“Insurance 2.0” an opportunity to build revenue and resilience: Swiss Re
16th March 2017
The fusion and development of emerging and existing technology is expected to transform the international risk landscape and drive an evolution of the global insurance and reinsurance industry, highlighting a need for industry participants to adapt to "Insurance 2.0" or risk missing out, says Swiss Re. "Today, there's enormous potential for change ... Read the full article
Insurance supervisors must understand and adapt to FinTech: IAIS
15th March 2017
The development of innovative FinTech has the potential to disrupt the global insurance and reinsurance industry in numerous ways, highlighting a range of challenges and opportunities for insurance supervisors, says the International Association of Insurance Supervisors (IAIS). In a new report, the IAIS explores the potential disruption the global insurance industry ... Read the full article
Blockchain: Why re/insurers need to take control of their future
14th March 2017
In this contributed article, Tom Johansmeyer, assistant vice president, PCS Strategy and Development, at ISO Claims Analytics, a division of Verisk Insurance Solutions, discusses the need for insurance and reinsurance market participants to engage with the global blockchain community. Blockchain: Why re/insurers need to take control of their future Waiting for a ... Read the full article
Technology and getting closer to the risk key for Munich Re: Doris Höpke
8th March 2017
Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Reinsurancene.ws. Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article
Asian insurance market must embrace the rise of Insurtech
6th March 2017
The rise of technology or Insurtech in the global insurance and reinsurance industry is driving innovations and opportunities in the Asian marketplace as should be embraced rather than avoided, according to industry leaders and experts. Speaking to A.MBestTV at the 2017 Asia CEO Insurance Summit held in Singapore recently, insurance industry ... Read the full article
Re/insurers need to cooperate to realise benefits of Insurtech: Celent
2nd March 2017
Celent - a finance information technology consultancy firm - has highlighted how the insurance and reinsurance sector could benefit from cross-sector collaboration by leveraging the finance sectors' experience of cooperative development and applying R3 earnings to the re/insurance sector. R3 is a membership organization which facilitates exploration of distributed ledger technology ... Read the full article
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