Infrastructure/Back-end

Irys InsurTech Inc. has landed $3.5m in its seed funding round, and is now aiming to take on the legacy competitors across the InsurTech space.

HawkSoft has announced Fize Technology as its newest API Partner integrated with its insurance platform.

Specialty insurance classes pose some of the most intricate pricing challenges in the insurance industry. Their rapidly evolving dynamics, coupled with their long-term nature, demand prices capable of standing the test of time. Gathering sufficient data for these specialty lines often proves difficult due to the nascent stage of many of these books and the inherent complexities in data collection.

The power of pricing transformation in the digital journey of insurance companies cannot be overstated. A pivot towards this aspect can lead to an impressive array of benefits, ranging from competitive edge to talent retention, regulatory adherence and even improvement in loss ratio.

A recent survey conducted by Coleman Parkes, on behalf of pricing decision intelligence leader hyperexponential, has unveiled the extensive dissatisfaction within the Specialty and Commercial insurance sectors regarding their current pricing and technology.

Snapsheet, the Chicago-based firm leading the charge in claims management technology, has successfully secured a strategic investment. As an innovator in its sector, Snapsheet's mission is to redefine the landscape of claims handling through its proprietary platform.

Madison Mutual Insurance Company (MMIC), a prominent Midwest insurer, and Akur8, a groundbreaking solution provider for non-life insurance pricing, have announced their partnership. The collaboration...

Insurers are finding themselves on the cusp of an innovative overhaul, specifically with regard to the claims journey - a process historically plagued by complex systems and lack of transparency, but now being redefined by advancing technology and evolving customer expectations.

As the insurance industry experiences a pivotal shift towards digitalisation, InsurTech leaders emphasise the importance of digital transformation not only to meet evolving customer expectations but also to enhance operational efficiency and foster innovation.

Halifax-based startup QuickFacts, dedicated to improving the insurance industry with technological disruption, has confirmed the successful completion of a funding round securing $1.13m.