Data/Intelligence

Coalition has struck a new multi-year capacity agreement with Aspen, to deploy cyber insurance capacity in the USA. 

Skyward Specialty Insurance Group, property & casualty (P&C) insurer has partnered with Gradient AI, to power its Accident and Health (A&H) division.

In the ever-evolving landscape of banking, financial services, and insurance (BFSI), a groundbreaking movement is underway, poised to revolutionise traditional operations and service delivery. At the forefront of this transformation is Intelligent Process Automation (IPA) – a pioneering blend of Artificial Intelligence (AI) and advanced process automation technologies. IPA is not merely an incremental improvement; it represents a paradigm shift, specifically engineered to automate written inquiries. InsurTech firm Simplifai investigates this pioneering technology. 

K2 Insurance Services, a prominent independent specialty insurance program manager, has announced a senior leadership reshuffle in a bid to continue the firm's growth.

Percayso Inform, a groundbreaking UK-based company that turns insurance data into insights, has successfully closed a £2.7m funding round. The company, known for its smart solutions which have been adopted by insurers, brokers, and MGAs, continues to expand rapidly.

Verisk, a leading global data analytics and technology provider, has welcomed Greg Hendrick as its new independent director on the Board of Directors.

Concirrus, a prominent provider of AI-powered marine insurance intelligence, has launched an updated hull market model.

Blu Clarity, an MGA specialising in value-based risk management solutions, and Irys Insurtech, a technology platform, have joined forces in a strategic partnership.

Ennabl, an innovator in the InsurTech industry, with a data analytics platform that empowers insurance brokers and agencies, has announced a successful Series A fundraising round.

Actuaries, often dubbed as mathematical risk managers, play a pivotal role in the insurance industry. Their expertise in quantifying and managing risk is essential for insurers in a market where financial responsibility for potential negative outcomes is traded. However, determining the cost of this responsibility isn't a straightforward task; it involves estimating expected losses akin to manufacturing costs for tangible goods. Yet, setting a price demands more than just knowing costs; it requires calibrating profit margins to market realities and consumer behaviours. InsurTech Quantee delves into the intricate process, known as price optimisation.