Infrastructure/Back-end

CLARA Analytics, a leading provider of artificial intelligence (AI) technology for insurance claims optimisation, has announced an expansion of its partnership with Origami Risk.

CLARA Analytics and Origami Risk deepen partnership to fast-track AI adoption in insurance

CLARA Analytics, a leading provider of artificial intelligence (AI) technology for insurance claims optimisation, has announced an expansion of its partnership with Origami Risk.
As the world marches towards modernisation, industries across the board are facing the pressing question of how to adapt and stay relevant in an increasingly digital landscape. This shift is particularly pronounced in the insurance sector, where the demand for greater diversification of products and services is reshaping traditional business models. One of the key dilemmas facing insurers today is whether to invest heavily in transforming into full-fledged IT organisations or to concentrate solely on their core competency of crafting insurance products.

Should insurers invest in becoming an IT organisation?

As the world marches towards modernisation, industries across the board are facing the pressing question of how to adapt and stay relevant in an increasingly digital landscape. This shift is particularly pronounced in the insurance sector, where the demand for greater diversification of products and services is reshaping traditional business models. One of the key dilemmas facing insurers today is whether to invest heavily in transforming into full-fledged IT organisations or to concentrate solely on their core competency of crafting insurance products.
Kayna, an award-winning embedded insurance infrastructure platform, is set to optimise AEGIS London’s online quote and bind platform through a new partnership.

Kayna to optimise AEGIS London’s online quote and bind platform through new partnership

Kayna, an award-winning embedded insurance infrastructure platform, is set to optimise AEGIS London’s online quote and bind platform through a new partnership.
Arbol, a leader in parametric insurance solutions, has announced the successful closure of a $60m Series B funding round.

Arbol bags $60m in Series B funding to scale parametric insurance offering

Arbol, a leader in parametric insurance solutions, has announced the successful closure of a $60m Series B funding round.
Gain an edge in pricing decision intelligence with hx Renew's specialist API Exam

Gain an edge in pricing decision intelligence with hx Renew’s specialist API Exam

Nearly one year ago, hyperexponential launched a certification programme, beginning with the "Core Model Developer Exam." The initiative has been warmly received, with certificates and badges being awarded quarterly. The enthusiasm for this achievement is visible, with many sharing their hx Renew certificates on LinkedIn, celebrating their success.
UK-based PeppercornAI bags £3.25m for AI-driven insurance solutions

UK-based PeppercornAI bags £3.25m for AI-driven insurance solutions

PeppercornAI, an InsurTech specialising in conversational artificial intelligence, has successfully raised £3.25m.
Aurionpro Solutions Limited has announced the acquisition Arya.a in a bid to enhance its portfolio of enterprise FinTech offerings with cutting-edge AI technologies.

Aurionpro Solutions to bolster AI capabilities with acquisition of Arya.ai

Aurionpro Solutions Limited has announced the acquisition Arya.a in a bid to enhance its portfolio of enterprise FinTech offerings with cutting-edge AI technologies.
Nationwide, a leading insurance provider, and EnforcerOne, a specialist in firefighting solutions, have partnered to strengthen fire defence strategies for Nationwide's agriculture clientele.

Nationwide and EnforcerOne join forces to protect agriculture from fire hazards

Nationwide, a leading insurance provider, and EnforcerOne, a specialist in firefighting solutions, have partnered to strengthen fire defence strategies for Nationwide's agriculture clientele.
Previsico welcomes Aleksander Surowiak as head of sales to propel InsurTech growth

Previsico welcomes Aleksander Surowiak as head of sales to propel InsurTech growth

Previsico, the innovative live flood forecasting InsurTech, has recently expanded its leadership team by appointing Aleksander Surowiak as the new Head of Sales.
Unlocking insurer success: The power of data integration with hx Renew

Unlocking insurer success: The power of data integration with hx Renew

In the evolving landscape of insurance, the adage "knowledge is power" has never been more pertinent. This is especially true in an era where data acts as the lifeblood of decision-making processes.

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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