Insurtech Insights

AEGIS London, the London-based Lloyd’s syndicate, has established a new data science and analytics team to enhance its underwriting capabilities and data-driven initiatives. Giuseppe D'Angelo, Head of Data Analytics and Portfolio Underwriting, said: “Data Science and Analytics is an established field within general insurance and in recent years has become a specialism in the London market within high-performing syndicates. Skill sets are highly sought after, so it’s great that we have been able to put together two strong teams." Alex (Aj) Powell, CEO of AEGIS London, added: “Maximising the potential of data is one of my key strategic priorities. So with this team of experts, we will turn our rich pool of data into the raw material for decisions, insights, and product development. Read the full story here 👉 https://lnkd.in/eeUzMVuF #InsurtechInsights #InsuranceNews

Juno - the first company in the US to provide child disability insurance closes US$8.5 million Series A funding to expand reach of new core employee benefit. The fresh capital will enable Juno to expand its client base and broker network, and increase product flexibility to accommodate the budgets of various companies interested in offering this innovative employee benefit. Jordan Epstein, CEO and co-founder of Juno said: “Child disability insurance protects parents from their largest uncovered financial risk, and this latest investment will enable more companies to offer this truly meaningful benefit for their employees.” “Juno is the pioneer of child disability insurance in the U.S., and we are proud to help establish this new core benefit category,” added Stephen Wemple from Spero Ventures. Read the full story here: 👉 https://lnkd.in/em9QA3S6 #insurtechinsights #insurance #funding #insurtech #disability

Lemonade has donated US$2 Million to customer causes in its eighth ‘2024 Giveback. This year’s charitable event marks more than $10 million donated to 86 organisations since inception, impacting millions of people globally. “Social impact is a core pillar of who we are as Lemonade and has been since the very beginning,” said Shai Wininger, Lemonade cofounder and President. “We believe every child should have access to quality education, driving our mission to create safe and healthy learning environments where students can reach their full potential,” said Bradley Wisdom, Chief Global Advancement Officer at Pencils of Promise. “We’re honoured to partner with Lemonade and their community to bring clean drinking water to over 28,000 people since 2017,” said scott harrison, who founded charity: water. Read the full story here: 👉 https://lnkd.in/e_25S9qn #insurtechinsights #lemonade #giveback #insurance

Juniper Re, the reinsurance broking arm and subsidiary of The Baldwin Group, has announced a strategic collaboration with CAPE Analytics to deliver portfolio-improving property risk insights to its clients, as well as a differentiated view of the reinsurance market. Adam Miron, Head of Catastrophe Analytics at Juniper Re, commented: “Through our collaboration with CAPE, we can augment our client’s data to refine our analysis and ultimately distinguish them in the reinsurance marketplace. Furthermore, CAPE’s roof condition, wildfire, and hail intelligence enables us to show profitability impacts by integrating best-in-class hazard and vulnerability data." Busy Cummings, CRO of CAPE, added: “We’re thrilled to be working with Juniper Re to provide new and more accurate property risk insights that can help improve carrier risk management and profitability. We look forward to seeing Juniper Re apply CAPE’s market-leading property intelligence solution for reinsurance placements in a way that adds tremendous value to the broader property insurance industry.” Read the full story here 👉 https://lnkd.in/ecQ8cZir #InsurtechInsights #Partnerships #InsuranceNews

Everest Group, the Bermuda-based (re)insurer, has unveiled a new structure for its alternative reinsurance capital business, transforming it into a multi-vehicle capital management platform through the launch of Mt. Logan Capital Management, Ltd. (MLCM). The new platform aims to provide expansive access and increase attractive opportunities for investors John Modin (pictured), Chief Executive Officer, commented: “Third-party capital management is an important part of Everest’s overall strategy. We are seeing strong and growing interest from institutional investors in our capital-efficient and highly aligned structures, which provide them with diversified offerings and attractive risk-adjusted returns. MLCM offers newfound flexibility to build upon Everest’s $1.5 billion in total third-party capital, and we welcome new partners interested in investing in the global reinsurance market.” Jill Beggs, Reinsurance EVP and COO, added: "MLCM, which now opens up multiple entrance points, helps pair third-party capital with dedicated underwriting portfolios, allowing us to optimise our capital structure, generate new underwriting opportunities, and grow Everest’s overall market share.” Read the full story here 👉 https://lnkd.in/ebAkxejv #InsurtechInsights #InsuranceNews

MEET THE FOUNDER - Don't miss our latest industry-exclusive interview with the CEO and Founder of McKenzie Intelligence Services, Forbes McKenzie. The former British Army Officer (Intelligence Corps) turned insurtech entrepreneur has blazed a trail in space and intelligence technology for the financial services and insurance industry. Insurtech Insights caught up with him to find out more. He says: "In August 2021, GEO was officially launched as the central catastrophe intelligence platform for Lloyd's, having recently added drone, SAR (Synthetic Aperture Radar), satellite, and aerial imagery capabilities, which was an incredible achievement for everyone involved with MIS. That year, GEO enabled comprehensive coverage of 34 global peril events for the London insurance market, with a key highlight being a large-scale response to Hurricane Ida." Read the full story here: 👉 https://lnkd.in/en_fVSzk #insurtechinsights #disasterrecovery #natcat #climate #insurtech

Five Sigma - AI-Native Claims Management, has announced the launch of “Clive™”, the insurance industry’s first AI-powered Insurance Adjustment Agent. Clive™ is set to revolutionise claims processing by leveraging artificial intelligence and automation to enhance efficiency, accuracy, and cost reduction. Gil Nechushtai, VP of Product at Five Sigma, commented: “We’re relying on data and computer algorithms as the default for claims handling and turning to human smarts and decision-making only when necessary. We’ve developed Clive as the embodiment of this approach, leveraging our proprietary expertise and taxonomy in claims automation and enabled by the latest AI and LLM technologies.” Oded Barak, Co-founder and CEO of Five Sigma, stated: “Clive is more than innovation, it’s a revolution in claims management, marking a significant milestone in our company’s journey towards claims management transformation. Read the full story here 👉 https://lnkd.in/eHTiKM-q #InsurtechInsights #InsuranceNews #AI

Embroker, a US digital insurance company, has launched a bespoke insurance programme for real estate agents and brokers. This tailored coverage, leveraging Embroker’s ONE technology, simplifies the process through a single-application approach, providing professional liability, cyber, business owners’ and workers’ compensation coverage. Embroker CEO Ben Jennings (pictured) commented: “Real estate as a profession is facing radical change. Amid layoffs, cyber attacks, and shifting buying behaviours, agents and brokers too often aren’t getting the coverage they need from their insurance policies. Given the rapid evolution of the industry, real estate professionals need truly tailored coverage that provides peace of mind so they can operate worry-free. Read the full story here 👉 https://lnkd.in/e-h_CCYN #InsurtechInsights #InsuranceNews #RealEstate

Plum, one of India’s leading insurtech platforms, has today launched Plum Perks, a comprehensively curated suite for healthcare and wellness benefits for employees. Plum is offering more than fifty health and wellness brands, and these benefits can be obtained through the Plum app. Saurabh Arora, CTO and Head of Healthcare at Plum, stated: “Plum Perks is a combination of what customers want and savings amounting to ₹30,000 (annually on average for a user) in terms of discounts that they can avail. Jayanth Ganapathy, CP of Healthcare at Plum, concluded: “At Plum, we are excited to announce the enhancement of our health and wellness suite with Plum Perks, providing a comprehensive and curated healthcare experience for our users. Read the full story here 👉 https://lnkd.in/eEVg3aBQ #InsurtechInsights #InsuranceNews #Perks

Jane J. Wang, CEO & Co-Founder of Optimity, sits down with Nutan Joshi, International Partnerships, during Insurtech Insights USA 2024 in New York last month, to discuss healthtech goals and how to inspire customers to reduce their risk. She says: "I spent a long time in patient engagement in pharma... building platforms for patient adherence - and I've see what works to really create better health outcomes. Unfortunately, 14 years ago, my mother got diagnosed with cancer and then she passed away six months later. All the work that I was doing on early prediction and cancer prevention, she was not able to access. I then started my journey to really predict these preventative experiences." #insurtechinsights #healthtech #risk #cancer #insurance #lifestyle