Infrastructure/Back-end

The state of reinsurance pricing in 2023 is under scrutiny. With the landscape of risks evolving at an unprecedented pace, reinsurers are facing significant barriers to optimally underwriting risks. A staggering 70% of underwriters acknowledge that this rapidly changing environment presents the greatest challenge to their ability to underwrite risks effectively.

In the realm of actuarial science, Akur8 has made a significant stride with the release of their latest research paper titled "Derivative Lasso: Credibility-Based Signal Fitting for GLMs."

Diesta, the London-based InsurTech startup, has successfully closed a seed funding round, raising $1.9m.

Layr, an Insurtech company for independent commercial insurance brokerages, has secured $10m in its recent funding round.

The insurance sector is grappling with a pricing tool dilemma. A significant 81% of insurers express doubts regarding the effectiveness of their current pricing technologies. One of the main culprits? Excel.

Sprout.ai, an "AI-led insurance claims automation company", has successfully secured an investment of £5.4m in a recent investment round. Spearheading this round were notable...

Pathpoint has revealed that it has experienced significant growth with over 14,000 registered agents and a 20% monthly increase in submission volume since partnering with Novidea.

Arturo, the property intelligence company that delivers portfolio-wide underwriting, risk and claims insights, has launched a new AI-powered claims module.

Akur8 and Guidewire, two trailblazers in the FinTech industry, are taking their partnership to new heights. Akur8, renowned for its next-generation insurance pricing solutions, has announced an impressive expansion of its collaboration with Guidewire, a key player in the industry. This expansion is bolstered by Guidewire's recent investment in Akur8.

Today, two prominent players, ZestyAI, renowned for its climate and property risk analytics solutions, and California FAIR Plan Association, recognised as California's primary property...