Infrastructure/Back-end

AXA and BOXX Insurance introduce advanced cyber protection for SMEs

AXA and BOXX Insurance introduce advanced cyber protection for SMEs

BOXX Insurance, an award-winning global InsurTech firm specialising in cyber protection and insurance, has forged a significant partnership with AXA, a leader in insurance...
Akur8 and Quincy Mutual Group unite to revolutionise insurance pricing strategy

Akur8 and Quincy Mutual Group unite to revolutionise insurance pricing strategy

Akur8, a next-generation insurance pricing solution, has partnered with Quincy Mutual Group, a highly esteemed regional mutual insurance company in the United States.
Akur8 and Ohio Mutual Insurance Group form strategic alliance for advanced insurance pricing capabilities

Akur8 and Ohio Mutual Insurance Group form strategic alliance for advanced insurance pricing capabilities

Akur8, known for its next-generation insurance pricing solution powered by transparent machine learning, has recently announced a strategic partnership with Ohio Mutual Insurance Group.
Mumbai's InsurTech pioneer Riskcovry secures $4.5m in latest funding round

Mumbai’s InsurTech pioneer Riskcovry secures $4.5m in latest funding round

Riskcovry, a Mumbai-based InsurTech startup, has raised around $4.5m in a bridge funding round.
CoverForce and NowCerts unite for revolutionary instant insurance quoting platform

CoverForce and NowCerts unite for revolutionary instant insurance quoting platform

CoverForce, a pioneer in independent API for instant insurance quoting and binding, has teamed up with NowCerts, an innovative agency management system provider.
Enhancing insurance accuracy and efficiency with hx Renew technology

Enhancing insurance accuracy and efficiency with hx Renew technology

In the rapidly evolving landscape of InsurTech, a new game-changer has emerged: hx Renew. This cutting-edge platform is redefining how actuarial teams operate, offering...
Igloo, Asia's pioneering InsurTech, raises $36m to revolutionise regional insurance

Igloo, Asia’s pioneering InsurTech, raises $36m to revolutionise regional insurance

Igloo, the first full-stack InsurTech firm from Singapore, announced today its successful closure of a $36m Pre-Series C funding round.
As the insurance industry continues to undergo a dramatic transformation, with the adoption of Artificial Intelligence (AI) emerging as a pivotal remedy for age-old challenges. This technological shift isn't merely about enhancing customer experiences; it's also about refining internal operations for efficiency gains, as distriBind explains.

The need for back-end office process automation in insurance

As the insurance industry continues to undergo a dramatic transformation, with the adoption of Artificial Intelligence (AI) emerging as a pivotal remedy for age-old challenges. This technological shift isn't merely about enhancing customer experiences; it's also about refining internal operations for efficiency gains, as distriBind explains.
hyperexponential and Akur8 collaborate for cutting-edge InsurTech pricing solutions

hyperexponential and Akur8 collaborate for cutting-edge InsurTech pricing solutions

hyperexponential and Akur8, two prominent names in the FinTech industry, have recently announced a strategic partnership.
Low Code No Code (LCNC) software, a transformative innovation in the realm of application development, caters to individuals lacking coding experience. These platforms offer intuitive drag-and-drop interfaces, enabling users to craft applications effortlessly. InsurTech Ushur delves into the fundamental aspects of LCNC software, exploring its significance, key components, and the potential impact on businesses.

Unlocking business potential: The power of Low Code No Code (LCNC) platforms

Low Code No Code (LCNC) software, a transformative innovation in the realm of application development, caters to individuals lacking coding experience. These platforms offer intuitive drag-and-drop interfaces, enabling users to craft applications effortlessly. InsurTech Ushur delves into the fundamental aspects of LCNC software, exploring its significance, key components, and the potential impact on businesses.
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Diverse week for FinTech as $1.1bn raised across 17 deals

Diverse week for FinTech as $1.1bn raised across 17 deals

It was a diverse week for FinTech funding, with deals closing across nine different countries.  There were a total of 17 FinTech funding rounds covered...
Sift enhances fraud insights with new metrics in industry benchmark tool

Sift enhances fraud insights with new metrics in industry benchmark tool

Sift, a leading AI-powered fraud prevention platform, has introduced significant updates to its Fraud Industry Benchmarking Resource (FIBR), a free online tool designed to provide key fraud metrics across various industries, geographies, and timeframes.
Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight, a global leader in cyber risk management, has announced its $115m acquisition of Cybersixgill, a prominent cyber threat intelligence (CTI) provider. This strategic move...
FinCEN issues alert on deepfake fraud schemes targeting financial institutions

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.
change communication methods during a verification check.Some identity verification solutions may also flag possible attempts to circumvent verification checks, such as the use of third-party webcam plugins, which can let a customer display previously generated video rather than live video. Use of Deepfake Media in Phishing Attacks and Scams Criminals may also target financial institution customers and employees through sophisticated, GenAI-enabled social engineering attempts in support of other scams and fraud typologies, such as business email compromise (BEC) schemes, spear phishing attacks, elder financial exploitation, romance scams, and virtual currency investment scams.24For example, in family emergency schemes, scammers may use deepfake voices or videos to impersonate a victim’s family member, friend, or other trusted individual.25Similarly, criminals have reportedly used GenAI tools to target companies by impersonating an executive or other trusted employee and then instructing victims to transfer large sums or make payments to accounts ultimately under the scammer’s control.26 Financial Red Flag Indicators of Deepfake Media Abuse FinCEN identified the following red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity related to the use of GenAI tools for illicit purposes.As no single red flag is necessarily indicative of illicit or suspicious activity, financial institutions should consider the surrounding facts and circumstances before determining whether a specific transaction is suspicious or associated with illicit use of GenAI tools. A customer’s photo is internally inconsistent (e.g., shows visual tells of being altered) or is inconsistent with their other identifying information (e.g., a customer’s date of birth indicates that they are much older or younger than the photo would suggest). A customer presents multiple identity documents that are inconsistent with each other.

Folks Finance secures $3.2m in Series A to advance crosschain DeFi solutions

Folks Finance, a DeFi platform specialising in lending, borrowing, and managing digital assets across multiple blockchains, has announced it raised $3.2m in an oversubscribed Series A funding round.
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