Infrastructure/Back-end

Resilience, a leading cyber risk solution provider, has announced a significant expansion of its underwriting capacity to offer up to £10m in cyber insurance coverage for clients across the United Kingdom and European Union.

Resilience expands cyber insurance coverage to £10m

Resilience, a leading cyber risk solution provider, has announced a significant expansion of its underwriting capacity to offer up to £10m in cyber insurance coverage for clients across the United Kingdom and European Union.
Boost Insurance, the innovative insurance infrastructure platform, has unveiled a strategic partnership with Canopius US Insurance Holdings, a subsidiary of Canopius Group.

InsurTech Boost and Canopius US join forces to bolster Insurance Programs

Boost Insurance, the innovative insurance infrastructure platform, has unveiled a strategic partnership with Canopius US Insurance Holdings, a subsidiary of Canopius Group.
Origami Risk, a leading risk, safety, and insurance Software as a Service (SaaS) technology firm, has announced the appointment of Chris Bennett as Chief Strategy Officer and Mike Kaplan as Division President within its Core Solutions unit.

Origami Risk strengthens Core Solutions team with key appointments

Origami Risk, a leading risk, safety, and insurance Software as a Service (SaaS) technology firm, has announced the appointment of Chris Bennett as Chief Strategy Officer and Mike Kaplan as Division President within its Core Solutions unit.
Argenta Syndicate Management Limited (ASML), a prominent player in the insurance sector, has made a strategic move by choosing Moody’s ESG (Environmental, Social, and Governance) insurance underwriting solution.

Argenta adopts Moody’s ESG solution for sustainable underwriting

Argenta Syndicate Management Limited (ASML), a prominent player in the insurance sector, has made a strategic move by choosing Moody’s ESG (Environmental, Social, and Governance) insurance underwriting solution.
Is the price really right? A look at US commercial P&C insurance pricing in 2023

Is the price really right? A look at US commercial P&C insurance pricing in...

The 2023 landscape of the US Commercial P&C market reveals that traditional understandings of pricing are perhaps outdated. An overwhelming 78% of insurance providers...
Tradition is something to be honoured, but not at the expense of progress. In recent years insurance carriers have moved away from paper forms, and instead implemented digitalisation throughout their product. But there is more to come. In particular, the digital transformation of underwriting still remains a key headache.

How the digital transformation of underwriting remains a key headache for insurers

Tradition is something to be honoured, but not at the expense of progress. In recent years insurance carriers have moved away from paper forms, and instead implemented digitalisation throughout their product. But there is more to come. In particular, the digital transformation of underwriting still remains a key headache.
For many insurers, providing a satisfactory customer experience is at the forefront of their ambitions. One such InsurTech is Usher, who prides themselves on their industry-leading solution, Customer Experience Automation (CXA) platform. But why is this solution so groundbreaking? And can it be the silver bullet many carriers need?

How Ushur is pioneering the future of InsurTech with advanced CXA

For many insurers, providing a satisfactory customer experience is at the forefront of their ambitions. One such InsurTech is Usher, who prides themselves on their industry-leading solution, Customer Experience Automation (CXA) platform. But why is this solution so groundbreaking? And can it be the silver bullet many carriers need?
NFP, a prominent insurance broker, has announced its newest venture, Totalis Program Underwriters, a distinguished brand tailored for its specialty programme sector.

NFP introduces Totalis Program Underwriters

NFP, a prominent insurance broker, has announced its newest venture, Totalis Program Underwriters, a distinguished brand tailored for its specialty programme sector.
The future of underwriting: IntellectAI's triumph with generative AI models

The future of underwriting: IntellectAI’s triumph with generative AI models

Research indicates that the Generative AI market is at a pivotal moment. According to Grandview Research’s Market Analysis report, the global generative AI market size stood at USD 10.14bn in 2022 and is poised to witness a compound annual growth rate (CAGR) of 35.6% from 2023 to 2030.
Choosing the best development route: From Native to Cross-platform

Choosing the best development route: From native to cross-platform

Mobile app development has evolved significantly since the advent of smartphones in the late 2000s. Initially, developers had two main approaches to consider: native and hybrid development. Native apps were built using the platforms' specific programming languages, while hybrid apps were web applications housed within a sandbox browser.

News Stories

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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