PYREG, a leading provider of carbonization technology, and Kita, an innovative carbon insurance company, have signed a Memorandum of Understanding (MOU) to develop the world’s largest durable biochar carbon removal project pool. This collaboration aims to utilize biochar, a carbon-negative product that removes and stores carbon from the atmosphere for thousands of years, as a versatile climate mitigation solution. In
Mercer, a subsidiary of Marsh McLennan, has successfully finalized a significant longevity hedge, marking a milestone in risk reduction for the MMC UK Pension Fund. This groundbreaking hedge, valued at approximately £2bn, extends longevity risk transfer to encompass over 14,500 pensioner, deferred, and active defined benefit (DB) members. Details of the Longevity Hedge The longevity hedge implemented by Mercer covers
In a groundbreaking partnership that aims to transform the insurance industry, One Inc, a leading digital payments network exclusively focused on the insurance sector, has joined forces with J.P. Morgan Payments, a global leader in payment processing. With a shared mission to revolutionize Property and Casualty (P&C) insurance claims payments, the collaboration leverages J.P. Morgan’s extensive liquidity and payment capabilities
Hyperexponential, a leading provider of pricing decision intelligence (PDI) solutions, and Akur8, a specialist in Transparent Artificial Intelligence technology, have announced their strategic partnership. The collaboration aims to integrate their complementary capabilities to offer insurers an automated, data-driven system for accurately pricing commercial and specialty insurance products. This article delves into the details of this groundbreaking partnership and the benefits
Pro MGA Global Solutions (Pro MGA) has been appointed by technology-led underwriter Arbol Inc to support its UK launch and international MGA expansion strategy. This partnership aims to bolster Arbol’s presence in the UK and offer innovative climate risk solutions to international insurance markets outside the U.S. Arbol’s UK Expansion Arbol is expanding into the UK by launching a London-based
Anzen, the AI platform for underwriting and reducing corporate risk, has recently announced the launch of its Anzen Specialty Marketplace. This marketplace serves as a one-stop solution for all things Executive Risk, delivering on the company’s promise to provide comprehensive and efficient risk management services. Background of Anzen Originally established as a Management Liability MGU and risk management platform, Anzen
In a transformative move, industry leaders LexisNexis Risk Solutions and Agenium have joined forces to integrate data and analytics into the life insurance application process. This alliance aims to enhance the application journey by leveraging advanced technology to detect fraud, collect accurate consumer data, and create a seamless experience for both consumers and producers. Importance of Integration The integration of
In an effort to simplify the integration process for its B2B2C partner companies, Chubb has unveiled its latest innovation, Chubb Studio. This cutting-edge developer portal aims to enhance accessibility and streamline the testing of Chubb’s diverse digital insurance products and capabilities. With this launch, Chubb is taking a significant stride towards transforming the insurance landscape, empowering its partners to deliver
Kita, a leading provider of carbon insurance products, has announced the appointment of James Brown as their new Technical Underwriting Advisor. With decades of experience in technical underwriting, James will play a crucial role in assisting Kita in assessing risk and developing innovative insurance solutions for carbon removal projects. This appointment marks a significant step forward for Kita as they
In the United States, mid-market companies are gravely underestimating the risks associated with flooding, leaving themselves vulnerable to significant financial losses and business disruptions. Despite the increasing frequency and severity of floods, a shocking number of companies are unaware and ill-prepared for such events. This article sheds light on the misconceptions surrounding insurance coverage, explores the staggering costs of flooding,
Anansi, a pioneering insurtech firm, has announced a groundbreaking collaboration with Tokio Marine HCC, Liberty Mutual, and Arch Insurance to introduce a unique parametric goods-in-transit insurance solution for large retailers. This innovative partnership aims to revolutionize the goods-in-transit insurance sector by offering unparalleled coverage and flexibility. By leveraging Anansi’s data-centric platform and parametric claims solution, this collaboration significantly eases the
In a strategic collaboration, INSTANDA, a leading digital insurance platform provider, has joined forces with Farmsure, a renowned agricultural risk management company. The collaboration aims to revolutionize the insurance landscape in the farming community by delivering innovative and tailored insurance solutions. With INSTANDA’s cutting-edge technology and Farmsure’s deep expertise in agricultural risk management, farmers and agribusinesses can now access advanced
