Global reinsurer SCOR has recently finalized a 15-year lease agreement for approximately 50,000 sq. ft of office space at 8 Bishopsgate, a prestigious London office building. This move not only demonstrates SCOR’s commitment to maintaining a prominent presence in the insurance district but also aligns with the company’s sustainability strategy, highlighting their aim to achieve a net-zero carbon footprint in
In a groundbreaking move, Hyperexponential successfully launched its certification program in 2023, marking a significant milestone in the company’s ongoing mission to empower insurance professionals, validate their skills, and unlock Pricing Decision Intelligence for organizations. Responding to Customer Demand The launch of the hyperexponential certification program responds to a clear demand from customers and partners for additional skill certification opportunities.
The InsurTech industry, which combines insurance and technology, has seen significant growth in recent years. However, 2023 proved to be challenging as deal activity within the sector experienced a drastic drop. Inadequately automated technologies and other obstacles contributed to a decline in the number of deals and overall investment. Despite these setbacks, experts in the industry are anticipating a rebound
In the fiercely competitive insurance industry, differentiation has emerged as a critical factor for success. Insurtech, a term used to describe innovative startups leveraging technology to disrupt the traditional insurance market, has been at the forefront of driving this transformation. This article explores the various aspects of insurtech’s impact on the insurance landscape. Engaging with Executives to Understand Pressing Issues
Beyond Yoga, a prominent clothing brand, recently made headlines by paying over $1.1 million to cover back wages and damages owed to its contractors’ employees. This landmark settlement was influenced by a little-known provision called the “hot goods” provisions, embedded within the Fair Labor Standards Act (FLSA). Let us delve deeper into the intricacies of these provisions, shedding light on
Lemonade, the disruptive digital insurance company, has announced the extension and expansion of its financing relationship with General Catalyst (GC), also known as “Synthetic Agents.” This strategic partnership aims to provide crucial financial support and certainty for Lemonade’s customer acquisition cost (CAC) spending as the company continues to revolutionize the insurance landscape through its cutting-edge use of artificial intelligence (AI)
InsurTech startup Korr, based in New York City, has successfully raised $3.2 million in seed funding. This significant investment marks a major milestone for the company and signals its commitment to driving innovation and transforming the insurance landscape. Led by Motive Ventures and Tokio Marine Future Fund, the funding round will provide Korr with the necessary resources to enhance their
In an effort to fortify their competitiveness in the market and offer superior value to policyholders, Freyou Insurance, a digital insurer from Germany, has joined forces with Akur8, an innovator in insurance pricing solutions. This collaboration aims to revolutionize the insurance industry by incorporating Akur8’s comprehensive platform into Freyou Insurance’s pricing workflow. Freeway Insurance’s Perspective René Jansen, Chief Insurance Officer
Motor insurance company Zego has recently unveiled its highly anticipated Business Van Insurance product, designed specifically for businesses that heavily rely on vans for their day-to-day operations but not for deliveries. This targeted insurance offering aims to provide comprehensive coverage, competitive pricing, and flexibility to meet the unique demands of operations-driven businesses. With an impressive track record of success with
HNB General Insurance (HNBGI) has announced the launch of Project Phoenix, a groundbreaking initiative in collaboration with Azentio Software. This transformative project marks a significant milestone in HNBGI’s digital transformation journey, promising unparalleled value to its stakeholders. With the aim of enhancing efficiency, accuracy, and overall operational effectiveness, Project Phoenix is set to elevate HNBGI’s competitiveness and ensure its agility
In a groundbreaking move, FloodFlash, the pioneer insurance technology company, has expanded its operations to an additional 10 US states. This expansion brings the revolutionary sensor-enabled parametric flood insurance to Delaware, Iowa, Missouri, New Jersey, New York, Oregon, South Carolina, Washington, Vermont, and Massachusetts. With unrestricted access to FloodFlash’s innovative product, these states can now benefit from affordable and comprehensive
In today’s rapidly evolving digital landscape, businesses across industries are recognizing the need to modernize their operations and systems. This is particularly true for insurance carriers, which face the challenges of outdated on-premises legacy systems. However, a trailblazing solution has emerged – Korr’s cloud-native core operating system. It offers a transformative approach to migrate on-premises legacy systems to the cloud,
