Climate change presents an unprecedented challenge to the insurance industry, as extreme weather events become more frequent and severe. Natural disasters like hurricanes, floods, and wildfires are not only becoming more common, but their intensity and unpredictability are also increasing, making it difficult for insurers to rely on traditional risk assessment methods. To navigate this new landscape, insurers must adopt
RB Ventures, a newly established venture capital firm with a specialized focus on re/insurance and insurtech, has officially opened its doors in Dubai under the leadership of Rohit Boda, Managing Director at India-based re/insurance broker J.B. Boda Group. The firm has been designed to address the significant capital gap present in the re/insurance sector by not only facilitating investments but
Insurity, a prominent provider of cloud-based software and analytics for the insurance industry, has announced the launch of its innovative Insurity Spreadsheet API. Co-developed with Coherent, this cutting-edge solution aims to streamline and accelerate the insurance product development process significantly. Traditional product development methods in the insurance sector are often slow and costly, but this new API promises to cut
The insurance market in the Philippines faces unique challenges and opportunities, creating a landscape ripe for innovation. InsurTech company Igloo is positioning itself as a transformative force within this burgeoning industry. With its recent $19 million Series B funding, Igloo sets its sights on utilizing advanced digital solutions and strategic partnerships to revolutionize insurance in the country. The Philippine market,
Archera, a cloud management FinTech company, has achieved a significant milestone with a successful Series B funding round, raising $17 million. This funding round not only marks a pivotal moment in Archera’s growth trajectory but also underscores the rapidly expanding role of the company within the cloud management industry. The new influx of funds is set to catalyze the company’s
The rapidly evolving landscape of the insurance industry has witnessed a transformative collaboration between Prudential and Google Cloud. This partnership, epitomized by the creation of an AI Lab, aims to revolutionize customer experiences, optimize operational processes, and drive innovation, particularly in the health insurance sector. By blending advanced technologies and fostering a collaborative ecosystem, both companies are set to redefine
Flood risk is one of the most substantial challenges faced by insurers, exacerbated by the increasing frequency and severity of extreme weather due to climate change. In response to this pressing issue, Cytora has teamed up with GeoSmart Information to integrate high-quality environmental data into its AI-powered risk processing platform. This partnership is set to provide insurers with more accurate
The digital landscape in Austria is witnessing an alarming surge in cyber-attacks, exposing individuals and businesses to profound risks. In response to these escalating threats, cybersecurity firm Cyan AG and insurance SaaS platform Wefox Austria have forged a strategic partnership to introduce a unique cybersecurity and insurance solution known as the weprotect app. This collaborative effort aims to deliver a
The healthcare industry in Portugal is poised for a significant transformation thanks to an innovative partnership between Luz Saúde and Habit. These two major players in the healthcare and digital insurance sectors have collaborated to introduce LUZ ON PRIME, a subscription-based service designed to offer comprehensive clinical support and personalized care. The union of Luz Saúde’s extensive healthcare network and
The London insurance market is witnessing a significant transformation with Hiscox, a global specialist insurer, adopting a generative AI-enhanced underwriting model. This technological advancement promises to reshape the landscape of insurance underwriting, particularly in fields such as sabotage and terrorism insurance. Partnering with Google Cloud and leveraging resources from Hiscox AI Laboratories (Hailo), Hiscox is set to redefine efficiency and
The Israel-Hamas conflict’s repercussions aren’t limited to geopolitics; they’re resonating in workplaces around the globe. One such instance manifested in a legal confrontation between a former Intel vice president and the tech giant. The Israeli national, who previously worked as a VP of engineering, alleges unlawful termination and retaliation following his complaints about a supervisor’s support for Hamas and antisemitic
California homeowners are facing unprecedented challenges in securing dependable insurance due to a constrained market. The exodus of various insurers from the state has led to limited options for consumers, inflating the cost of premiums. In a bid to address these issues, Phyn, a smart water technology company, and Bamboo, a property and casualty insurance firm, have formed a strategic
