European Insurance Technology News

Previsico, a ClimateTech spinout, has successfully raised $2.4m in funding, propelling its mission to enhance flood prediction capabilities and expand its footprint in the United States and Europe. This significant investment reflects a growing recognition of technology's crucial role in mitigating climate-related risks. Previsico's innovative approach to flood forecasting using advanced data and analytics is poised to substantially impact the insurance industry, allowing for more accurate risk assessment and proactive risk management. Read more here: https://lnkd.in/enpeZkem #ClimateTech #InsurTech #FundingNews #ClimateResilience #DataAnalytics #PrevisicoInnovation

Aon has launched a new insurance solution tailored specifically for financial institutions, marking a significant stride in addressing the unique challenges faced by this sector. This innovative solution aims to provide financial institutions comprehensive coverage, addressing evolving risks and uncertainties in the ever-changing financial landscape. Aon's commitment to crafting specialised insurance solutions underscores the importance of staying ahead of industry dynamics and ensuring tailored risk management. Read more about it here: https://lnkd.in/e5KsPFqn  #InsuranceInnovation #FinancialInstitutions #RiskManagement #InsurTech #AonInnovation #InsuranceSolutions

Fadata has unveiled a new Software as a Service (SaaS) strategy designed specifically for insurers, marking a significant step towards digital transformation within the industry. This innovative SaaS solution offers insurers a powerful and flexible platform to streamline operations, enhance efficiency, and adapt to the evolving needs of the digital age. The cloud-based approach brings scalability and accessibility, allowing insurers to leverage advanced technology without the constraints of traditional systems. Read more here: https://lnkd.in/e_DX4ZJn #InsuranceTechnology #SaaS #CloudInnovation #InsurTech #DigitalTransformation #FadataInnovation

McGill and Partners has partnered with Renew Risk to develop bespoke catastrophe models tailored for offshore wind portfolios. These new catastrophe models are set to revolutionise risk assessment for insurers, particularly in the context of offshore wind projects. These innovative models provide insurers with enhanced tools to assess and understand risks associated with offshore wind ventures, ultimately supporting the growth of this critical sector. Integrating data and analytics in catastrophe modelling brings a data-driven approach to risk evaluation, fostering a more comprehensive understanding of the unique challenges offshore wind projects pose. Read more here: https://lnkd.in/eu6YRaKi #InsuranceInnovation #RenewableEnergy #RiskAssessment #CatastropheModels #DataAnalytics #InsurTech

AXA Commercial is incorporating Artificial Intelligence to identify buildings affected by Remote Access Application Control (RAAC). This move aims to enhance the accuracy of risk assessment processes. By leveraging AI technology, AXA strives to improve efficiency in risk evaluation, demonstrating a commitment to staying at the forefront of technological advancements within the industry. Read more here: https://lnkd.in/enJbtFFb #InsuranceInnovation #AI #TechNews #RiskAssessment #InsurTech #raac

Velocity Risk, a US-based insurance holding company, has acquired a majority stake in Insight Risk Technologies, a technology-focused managing general agent (MGA) in the builder's risk market. This acquisition is a strategic move by Velocity to expand its presence in the growing builder's risk market. Insight Risk Technologies is a leading provider of integrated technology and insurance solutions for the builder's risk market, and the acquisition will give Velocity access to Insight's expertise and technology platform. Read more here: https://lnkd.in/e4ZX_xcE #InsurTech #InsuranceIndustry #Innovation #Velocity #InsightRisk #InsuranceTechnology

Send Technology Solutions Ltd (Send), a leading provider of cloud-based commercial insurance software solutions, has been named a Leader in the IDC MarketScape: Worldwide P&C Intelligent Underwriting Workbench Applications 2023 Vendor Assessment. In an ever-evolving landscape, Send has consistently demonstrated innovation, reliability, and excellence in commercial insurance software. This recognition is a testament to their unwavering commitment to meeting the evolving needs of the insurance industry. Read the full story here: https://lnkd.in/eB28evw9 #InsuranceTechnology #CommercialInsurance #IndustryRecognition #Innovation #Leadership #Send #InsuranceTech #LinkedInNews #InsurTech

Helvetia Insurance Switzerland and Qover, two leading insurance companies, have partnered to explore innovative solutions in the European insurance market. Their collaboration aims to offer customers diverse insurance options that cater to their evolving needs. The partnership embraces digitalisation and leverages Helvetia's expertise and Qover's technology to streamline operations and offer more efficient services. With a focus on the European market, Helvetia and Qover are committed to addressing the unique challenges and opportunities it presents. Their collaboration has the potential to bring meaningful changes to the European insurance industry and influence its standards and practices. Read more here: https://lnkd.in/ebd8nVEM #Insurance #Innovation #EuropeanInsurance #Helvetia #Qover #DigitalTransformation #InsuranceIndustry #Collaboration #EuropeanMarket #InsuranceSolutions

In a significant move towards fostering collaboration and innovation in the insurance and trade finance sector, Allianz Trade has taken a strategic step by becoming a part of this transformative initiative. The Trade Finance Distribution Initiative is poised to drive positive changes in the industry by facilitating efficient and secure trade finance solutions. Allianz Trade's involvement reflects its commitment to delivering enhanced services to its valued clients and supporting the global trade ecosystem. This partnership is set to create a synergy that will undoubtedly benefit businesses and individuals involved in international trade. It underlines the importance of collective efforts in shaping the future of trade finance. Read more here: https://lnkd.in/e_grGSmz #AllianzTrade #TradeFinance #Collaboration #Insurance #Innovation #TradeEcosystem #Finance #GlobalTrade #IndustryNews #InsurTech #FinanceInitiative #tradefinanceinitiative

Alchemy Technology Services, a leading player in the insurance technology solutions arena, has acquired r10 Consulting, a renowned consulting firm with a strong presence in the insurance sector. This strategic acquisition is poised to enhance Alchemy's capabilities, bolstering its position as a top-tier service provider within the insurance industry. The move is expected to bring together the extensive expertise and resources of both Alchemy Technology Services and R10 Consulting, leading to a comprehensive suite of services for clients in the insurance sector. Read more about it here: https://lnkd.in/eRsCq47N #InsuranceIndustry #Acquisition #InsuranceTechnology #Innovation #insurtech #strategy