Investment in the rapidly evolving field of insurtech is essential to drive innovation and reshape the insurance industry. In line with this, Flow Capital has recently closed an investment in Wrisk Limited, a digital-first insurance business focused on revolutionizing customer mobility and insurance experiences. This article delves into the details of Wrisk’s unique offerings, its growth plans, and the role
Federato, an innovative InsurTech firm, has made waves in the insurance sector with its RiskOps underwriting platform. The company recently announced the successful completion of a $25 million Series B fundraising round, positioning itself as a leader in applying AI technology to underwriting and portfolio optimization. Application of AI Technology in Underwriting and Portfolio Optimization Federato’s RiskOps platform has carved
Insurtech firm Accelerant has launched its Risk Exchange platform to support specialty underwriters. The platform aims to connect specialty underwriters with a group of capacity providers, thanks to the help of Accelerant-owned insurance companies. This innovative platform provides access to a range of risk capital, allowing underwriters to write the risks they want. Connecting specialty underwriters with capacity providers Specialty
Exdion Solutions, a leading provider of software and data analytics solutions for the insurance industry, has recently appointed S. Steven Salar as the President and Head of Insurance Operations. Salar will be responsible for overseeing the company’s North American business, which includes managing the sales and delivery of the company’s innovative data analytics software and suite of products designed to
The issue of underinsurance has been a persistent problem in the property insurance market for years. Commercial property owners are often unaware of the correct rebuild cost of their buildings, leading to undervaluation and underinsurance. This creates exposure for insurers and brokers who must pay out large sums for claims that may be underinsured. A recent study by insurance broker
The global insurance industry has undergone a significant shift with the emergence of insurtech disruptors. Insurtech companies leverage advanced technologies like artificial intelligence (AI), data analytics, and the Internet of Things (IoT) to provide innovative solutions that streamline insurance processes and simplify customer experiences. In this article, we’ll take a closer look at how insurtech is impacting the expense and
Thinksurance, a digital insurance consultation firm in Frankfurt, has raised $24 million in new funding. The funding, which comes from new investors as well as existing shareholders, will enable Thinksurance to expand its position in the market and cover additional aspects of consultation and distribution of commercial insurance. Leading the funding round are international insurtech investors, including Viewpoint Ventures, M-Tech
HAYAH Insurance Company, the UAE’s digital insurance company, has announced the launch of a new savings plan that provides easy and affordable access to world-class wealth management expertise. Through its new ‘Simple Saver’ plan, HAYAH aims to break down barriers to investment, making wealth accumulation and financial planning tools accessible to all UAE residents. This pioneering plan allows customers to
Insurance is an essential component of our daily lives, offering financial protection and security against unforeseen mishaps. However, filing an insurance claim can be a time-consuming and laborious process, requiring extensive paperwork and evidence. Fortunately, Lemonade Insurance Company has revolutionized the industry by using artificial intelligence (AI) to settle claims accurately and rapidly. Revolutionary technology has been developed by Lemonade
The rise of embedded finance technologies is ushering in a new era in insurance. According to industry experts, the life insurance landscape will look dramatically different in just a few short years. This is due to the fact that the integration of financial products and services is driving innovation across the industry and changing the way insurance is delivered to
Inflation poses a significant challenge for insurance companies today, as it leads to increasing costs and makes pricing uncertain. To set competitive pricing now, insurers must forecast the impact of future inflation on their business accurately. High inflation exacerbates the risks of pricing errors and makes the future more unpredictable, thereby putting pressure on insurers to adapt their risk management
Sapiens, a leading global software provider for the insurance industry, has announced a new strategic partnership with Microsoft to harness the power of generative artificial intelligence (AI) in the insurance industry. The collaboration aims to improve efficiency and customer service in the insurance industry, leveraging AI. This new endeavor is set to revolutionize the insurance industry by providing insurers with
