Tag: Insurance Industry

The London Market is on the precipice of a digital transformation, and one significant initiative propelling this change is the Core Data Record (CDR) introduced by Lloyds as part of the Lloyd’s Blueprint Two programme. This strategic move aims to standardise and streamline the collection of critical transaction data, marking a pivotal leap in market efficiency. InsurTech Novidea explains why CDR matters for London market brokers. 

Swiss Re Group has unveiled ambitious financial targets, as it aims to improve its net income by $3.6bn in 2024.

Digital transformation and innovation are becoming keystones in the insurance sector's evolution. Caroline Bedford, Chief Executive at EDII, delves into the pivotal role of fostering innovation and future-focused skills in the insurance industry in the latest episode of Hyperexponential's podcast.

Northern Reinsurance SPC, a balance sheet reinsurer based in New York and Cayman, has successfully increased its committed capital by securing an additional $50m in funding.

One Inc, a pioneering digital payments network focused exclusively on the insurance sector, and J.P. Morgan Payments, a global leader in payment processing, have announced a collaborative effort.

Greater Than has revealed that its highly-vaunted artificial intelligence (AI) software has enabled ABAX to launch a new and autonomous car insurance broker brand.

Prodigy Health Insurance Services is set to leverage Gradient AI's underwriting solution to bolster its medical stop loss insurance offerings.

Ascend, a leading provider of financial operations automation software tailored for the insurance industry, has announced a strategic alliance with Embroker, that is set to revolutionise the insurance landscape.

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.

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