The partnership announcement between Norwich-based insurtech company Pikl, Prestige Underwriting, and Aviva marks a significant milestone in the insurance industry, particularly for the vacation rental and short-term rental markets in the UK. This collaboration intends to bridge the gaps left by standard home insurance policies and provide even more robust and tailored coverage solutions for property owners venturing into the
The rebranding of ZA Tech to Peak3, coupled with a successful Series A fundraising, marks a transformative period for the company. With fresh capital and a new identity, Peak3 is poised to drive innovation and growth in the insurance technology sector. The $35 million funding, led by EQT and Alpha JWC Ventures, underscores investor confidence in Peak3’s vision and strategic
Peak3, formerly known as ZA Tech, is making waves in the insurance industry with its innovative approach to digital transformation. Founded in 2018, the company has quickly risen to prominence, particularly in the realm of cloud-native, modular insurance core and distribution systems. This rebranding comes on the heels of a highly successful $35 million Series A fundraising round, led by
The automotive and insurance sectors are undergoing significant transformations, driven by technology and evolving customer expectations. In a notable development, Stellantis Financial Services US and bolt have teamed up to redefine the auto insurance purchasing experience. This collaboration aims to leverage advanced technologies to offer customized, efficient, and accessible insurance solutions directly to customers. With this partnership, Stellantis aims to
The collaboration between OpenRoad Insurance and Majesco marks a significant development in the InsurTech sector, focusing on the unique needs of collector vehicle owners. By leveraging Majesco’s advanced technological solutions, this partnership aims to enhance OpenRoad’s market reach and operational efficiencies, delivering a state-of-the-art digital experience that combines comprehensive coverage with fair pricing. This strategic alliance promises not only to
The non-payment insurance sector has long contended with notable inefficiencies, especially in managing the myriad broker inquiries that underpin the underwriting process. Recognizing this challenge, Allianz Trade, a global insurer, and BPL, a specialist credit and political risk insurance (CPRI) broker, have embarked on a transformative collaboration to develop an innovative API-integration inquiry system. By leveraging the capabilities of Verisk’s
Sapiens International Corporation has unveiled its latest innovation, a next-gen intelligent insurance platform that integrates advanced AI technologies and is cloud-native. This platform signifies a pivotal development for insurers, empowering them to leverage sophisticated digital tools to enhance efficiency, customer engagement, and operational agility. The collaboration with Microsoft further strengthens the platform’s potential, underscoring its transformative impact on the insurance
Columbia Insurance Group has announced a transformative partnership with Guidewire, a leading provider of insurance software solutions. This strategic alliance aims to modernize Columbia’s technological infrastructure, enhancing operational efficiency and customer service to meet rapidly evolving market demands. Known for its tailored insurance solutions for small and medium businesses across various U.S. states, Columbia Insurance Group has built a reputation
Sonnet Insurance Company, a noteworthy entity in the InsurTech sector, has announced its intention to exit the auto insurance market in Alberta, effective December 13, 2024. This strategic withdrawal is rooted in the challenging business conditions that have prevented the company from achieving sustainable profitability in the region. The decision sheds light on broader trends within the automotive insurance space
The InsurTech sector is witnessing a groundbreaking development that promises to revolutionize the industry’s landscape. In a collaborative move, Hyperexponential and Send have joined forces to innovate the insurance pricing process. This strategic partnership aims to integrate Hyperexponential’s hx Renew platform with Send’s underwriting workbench, significantly improving efficiency and precision in insurance underwriting and pricing decisions. The end goal is
The financial services industry has long been at the forefront of incorporating technological innovation to enhance efficiency and customer experience. From the days of early telephone banking to the seamless convenience of today’s mobile payments, this sector has consistently transformed its operations to stay ahead of the curve. Today, we stand on the precipice of yet another technological leap—the rise
In the realm of commercial trucking, insurance is not merely a regulatory formality but a critical component that underpins the very safety and efficiency of the industry. High Definition Vehicle Insurance (HDVI) stands at the forefront of a revolution, capitalizing on the power of technology to transform the staid insurance landscape. By harnessing the potential of real-time telematics, HDVI is
