The rapidly evolving cyber landscape has prompted venture capital firm Forgepoint Capital to double down on its investment in the cyber insurance sector. Forgepoint Capital has recently led a $15 million Series A funding round for Converge Insurance, a New York-based tech startup. This investment marks Forgepoint Capital’s second foray into the cyber insurance space and highlights the increasing recognition
In the dynamic digital age where cyber threats emerge daily, the need for cyber insurance is at an all-time high. As businesses increasingly face the risk of cyber attacks and data breaches, underwriters have turned to external vulnerability scanning tools to evaluate the cyber risk profile of their clients. This article explores the benefits and limitations of external vulnerability scanning
In an exciting development for the insurtech industry, Blitz Insurance and Ascend have announced a strategic partnership aimed at modernizing payment experiences for insurance brokers in specialty markets. With the objective of unlocking new customer segments and improving payment experiences, this collaboration promises to be a game-changer in the world of specialty insurance. Unlocking new customer segments One of the
Amazon, the e-commerce giant, has chosen CLARA Analytics as its technology partner for a new program aimed at enhancing health and claim outcomes for their corporate workers’ compensation claims. This partnership signifies a significant step forward in leveraging artificial intelligence (AI) and advanced machine learning technologies to revolutionize the management of insurance claims. CLARA’s AI Platform At the core of
The rapid growth of ransomware attacks has raised concerns about the role of cyber insurance in perpetuating this cyber threat. While cyber insurance provides financial protection to policyholders, there is a need for alternative solutions that reduce the likelihood of paying ransoms. This article examines the potential for insurers and the government to address this issue, offering recommendations for improving
The insurance industry is widely recognized for its intricate and multifaceted nature. With a vast amount of data at its disposal, it analyses risks, predicts market trends, and determines premiums. However, the traditional insurance models have evolved significantly over the years. To stay competitive in the market and meet evolving customer demands, the industry must embrace digital transformation and artificial
In an exciting partnership, AXA, a leading global insurer, has teamed up with GoGoX, a prominent technology platform for logistics services, with the objective of co-creating a new model of technology platform collaborating with insurance. This collaboration aims to leverage AXA’s expertise and product offerings in general insurance and combine it with GoGoX’s platform scale and innovative technological capabilities. The
Freely, the groundbreaking end-to-end travel insurtech and safety app, is excited to announce its official launch in the United States. The app aims to revolutionize the travel insurance industry by providing a seamless, accessible, and flexible solution for travellers worldwide. With Freely, travellers can confidently explore the world, knowing they have the necessary protection at their fingertips. Underwriting and Global
HeadlinManyPets, the award-winning pet insurtech provider, has formed a strategic partnership with Vitesse, a leading financial technology company specializing in automated claims management systems. Together, they aim to streamline claims processing and provide an exceptional customer experience. By leveraging Vitesse’s innovative platform, ManyPets has significantly enhanced the efficiency of their claims payout process with their automated claims system, aptly named
In a bid to close critical coverage gaps in coastal Texas, Florida, and the Eastern Seaboard, Annex Risk has successfully implemented the true cloud-native insurance policy core platform, Socotra Connected Core. This move highlights Annex Risk’s commitment to adopting a digitally-forward approach and revolutionizing the insurance industry. Algorithmic Underwriting and Capacity Annex Risk’s platform combines algorithmic underwriting and capacity, empowering
As the threat of cyber attacks continues to rise, businesses of all sizes are facing an increased need for comprehensive cyber insurance coverage. In response to this growing demand, QBE North America has partnered with Managing General Agency (MGA) Converge to launch a new cyber insurance program. With Converge as the program administrator, this initiative aims to provide tailored cyber
Embroker, the digital platform revolutionizing business insurtech, is thrilled to unveil its strategic partnerships with Dashlane and Cowbell. These collaborations enable Embroker to offer exceptional cyber protection services to its customers, emphasizing the importance of prevention and risk management. With the growing threat of cyberattacks, these partnerships bring essential tools and resources to Embroker’s insurtech platform, ensuring businesses can stay
