Centana Growth Partners’ recent acquisition of a $60 million stake in First Connect Insurance marks a significant move to bolster support for independent agents in the U.S. insurance market. Independent agents make up nearly two-thirds of the property and casualty insurance sector, yet they often face significant challenges in accessing a diverse range of carriers. First Connect aims to overcome
The collaboration between Newgen Software, a leader in digital transformation platforms, and Fadata aims to significantly improve operational efficiency within the insurance industry. This strategic partnership integrates Newgen’s OmniDocs solution with Fadata’s INSIS platform, addressing complex, content-heavy processes and enhancing centralized management to foster a superior customer experience. The integration intends to boost document management capabilities, streamline compliance, and enhance
With the digital asset industry experiencing rapid expansion, the lack of adequate security and investor protection measures has been a prevailing concern for many market participants. HashKey Global, together with AIFT, a prominent cybersecurity and insurance provider, has announced a strategic partnership to address these challenges. Their collaboration aims to bolster the Web3 and cybersecurity ecosystems by providing over US$4
In an era where cyber threats are increasingly sophisticated and pervasive, the strategic partnership between Helvetia, a renowned Swiss insurance provider, and Coinnect, a cutting-edge cyber risk management platform, signifies a pivotal advancement in Cyber Insurtech solutions. This collaboration, initiated with the aim of leveraging Coinnect’s AI-powered cyber risk assessment platform, is set to commence by the end of the
In a strategic move to drive the insurance industry’s digital transformation, Newgen Software, a global leader in digital transformation platforms, and Fadata, a provider of core insurance solutions, have expanded their partnership. This collaboration seamlessly integrates Newgen’s OmniDocs, an enterprise content management (ECM) solution, with Fadata’s cloud-based insurance process management system, INSIS. The joint effort aims to enable insurers to
The insurance landscape is undergoing significant changes, especially with rising premiums and limited coverage options putting pressure on property owners and managers. In this evolving scenario, Honeycomb Insurance has made a notable impact by expanding its operations to Washington and Maryland. This move extends its reach to over 60% of the U.S. population, equating to more than $35 billion in
The emergence of Parametrix Enterprise Solutions signifies a pivotal moment in the landscape of cyber insurance, devising an innovative approach to safeguarding businesses against the financial ramifications of digital disruptions. Unlike traditional insurance methods, which often prove inadequate due to their inflexibility and slow payout processes, Parametrix offers a novel parametric model that promises rapid reimbursement based on predefined payout
The increasing frequency and severity of extreme weather events have put immense pressure on the insurance industry, compelling insurers to rethink their traditional risk assessment models. Artificial Intelligence (AI), often seen as a transformative technology, is now being considered crucial for managing climate-related losses. According to a recent survey conducted by ZestyAI, a significant 73% of insurers regard AI as
The unexpected re-election of Donald Trump as the 47th U.S. president in 2024 has sent shockwaves through various sectors, including the global InsurTech industry. Trump’s return to the Oval Office, marked by dramatic events and a further entrenchment of ‘Trumpism,’ signifies a significant shift in the American political landscape. This article explores the potential implications of Trump’s presidency for the
Everest Reinsurance has made a significant appointment by naming Emily Davis as the head of its global specialties business, a division that encompasses aviation, marine, cyber, engineering, and parametric solutions. With business centered on emerging and complex risks, the organization has elected Davis to steer this critical segment forward. Before taking on this pivotal role, Davis served as VP and
In a strategic move to address the pressing issue of inadequate homeowners’ insurance options in regions prone to natural disasters, SageSure has announced a collaboration with Auros Reciprocal Insurance Exchange. This partnership particularly targets Louisiana and Mississippi, areas that frequently grapple with high insurance demand but limited availability due to the natural disaster risks they face. The union aims to
Akur8, a leading firm in the InsurTech industry, has recently revealed a strategic partnership with Windward Risk Managers, a key player in Florida’s property insurance market. This alliance seeks to revolutionize Windward’s predictive modeling capabilities, which is expected to vastly improve pricing accuracy and operational efficiency in their personal lines of business. The collaboration leverages Akur8’s Transparent Machine Learning (ML)
