Verisk modernizes system to combat insurance fraud in Israel
August 31, 20234 min
Digitization of insurance has led to rising consumer expectations for a simpler and faster claims experience
Alpha FMC announced new hire
August 24, 20233 min
Alpha FMC, the leading global consultancy to the asset management, wealth management and insurance industries, announces the hire of Keval Mehta to its North American insurance consulting team. Keval joins Alpha as an executive director and insurance technology leader, as part of Alpha’s continued expansion into the North American insurance consulting market. Keval is a trusted technology executive joining from Accenture, where he was a managing director, insurance cloud and data practice lead, and was...
Westland Insurance acquired two P&C brokerages
August 7, 20233 min
Westland Insurance, Canada’s leading independently-owned insurance brokerage, announced that it acquired two P&C brokerages: Hubbard Insurance Group and Assurance B. Belliveau Insurance Inc. These acquisitions contribute to Westland’s national expansion and bring Westland into new areas. Hubbard Insurance Group is a family-owned brokerage located in Ontario that’s been serving the insurance industry for 35 years. It’s comprised of two divisions: Hubbard Insurance Brokers, a P&C brokerage with a commercial insurance focus, and Hubbard Financial Services,...
Insurtech startup Functional Finance raises $8 Mn in seed capital
August 4, 20237 min
Funding, led by NEA with the support of other premier investors including Hank Greenberg's C.V. Starr Insurance, will accelerate product development and marketing initiatives that focus on streamlining back-office functions for companies in the insurance industry
Sapiens ReinsuranceMaster Platform named as “Luminary” Solution
July 31, 20232 min
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced that Sapiens ReinsuranceMaster was recognized as a “Luminary” solution in Celent’s 2023 Ceded Reinsurance Solutions Global Report. Research and consulting firm Celent profiled 12 global ceded reinsurance solutions. This year’s report contains the Technical Capability Matrix, which ranks solutions according to Advanced Technology and Breadth of Functionality. Sapiens ReinsuranceMaster was named a “Luminary” solution, the top tier in the matrix,...
BondExchange, the technology and service leader in the surety bond industry, and TrustedChoice.com, the leading digital marketing platform for the independent insurance industry, announced today an enhanced partnership to bring BondExchange’s surety platform to the nation’s most extensive collection of independent insurance agents. Immediate access to the BondExchange platform is available to TrustedChoice.com agents at www.bondexchange.com/trusted-choice. “BondExchange’s mission is to empower agents with the tools needed to make surety a consistently profitable and low touch product...
Sapiens CoreSuite is recognized as a “Luminary” PAS solution excelling in both Advanced Technology and Breadth of Functionality in EMEA Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today that Sapiens CoreSuite for Life & Pensions has won Celent’s 2023 XCelent award for the Breadth of Functionality category in the EMEA region. Research and consulting firm Celent analyzed 35 policy administration systems for life and pension insurance, using the...
Certificial raises $15M to support growth of Smart COI Network
July 12, 20235 min
The platform solves fundamental insurance verification challenges for all stakeholders involved in the process. Certificial, the creator of the Smart COI Network™, announced a $15M round of funding led by Nyca Partners. Nyca joins IA Capital, Fin Capital, Cofounders Capital, Cameron Ventures, and Nationwide Ventures as investors. In the past year, Certificial has gained significant traction among the risk management community and with insurance brokers. Certificial, a pioneer in business insurance monitoring technology, leverages its...
ZhongAn unveils AI & AIGC Integration roadmap into insurance sector
July 10, 202313 min
On July 7, ZhongAn Online P&C Insurance Co., Ltd, China’s first online-only insurance company, presented its vision of how the transition from digital intelligence to “AI +insurance” at the “Next Generation Digital Infrastructure, Brand New Value for Insurance Ecosystem” subforum of the 2023 World Artificial Intelligence Conference (WAIC2023). The transition is set to revolutionize the entire process of the sale and management of insurance, paving the way for an entirely new insurance infrastructure. The presentation delved into...
Nayms SAC Ltd., the leading crypto-native insurance marketplace, is proud to announce the issuing of the world’s first crypto-denominated industry loss warranty (ILW) through the second segregated account or ‘cell’ within its marketplace. This type of instrument is index-based and used for providing retrocessional reinsurance protection to property reinsurers. In this program, Nayms provides coverage for US named windstorm, attaching above a loss trigger of $60 billion. The basic structure aligns with other ILWs, but Nayms innovates on...