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)
Honeycomb Insurance, a pioneering managing general agent (MGA), has recently extended its innovative services to Washington state and Maryland, marking a significant milestone in its growth trajectory. This expansion brings the company’s footprint to 18 active states, a coverage that now encompasses over 60% of the U.S. population. The inclusion of these new states means that Honeycomb now insures assets
In a significant stride towards modernizing the insurance industry’s pricing strategies, Akur8, a leading insurance pricing and reserving platform utilizing Transparent Machine Learning (ML), has announced its partnership with Windward Risk Managers. Windward Risk Managers, which oversees Florida Peninsula Insurance, Edison Insurance, and the innovative Ovation Home Insurance Exchange, is set to leverage Akur8’s Core Platform to enhance its predictive
In an era where convenience and efficiency drive consumer choices, mortgage applicants often face the challenge of navigating complicated and disjointed processes. Imagine a world where obtaining a mortgage seamlessly integrates home insurance options, eliminating the need for separate, time-consuming searches and decisions. This is now becoming a reality thanks to the recent partnership between Blend, a digital banking platform,
As the insurance industry continues to seek ways to integrate advanced technologies into its risk assessment and underwriting processes, the partnership between Cytora and Gamma Risk has emerged as a pivotal development. The collaboration combines Cytora’s robust digital risk processing platform with Gamma Risk’s Perilfinder™, a sophisticated address-level risk assessment tool. Through this integration, insurers are expected to benefit from
Insurtech Insights Asia 2024 is set to become a pivotal moment for the insurance technology industry as it convenes at the Kerry Hotel on December 4th and 5th. With over 5,000 delegates expected to attend, the event is anticipated to be Asia’s largest insurance industry gathering, offering a vibrant platform for discussion, networking, and collaboration. This year, the conference will
