Insurtech Insights

KOHO, the Canadian fintech, has expanded its financial product suite by offering a new tenant insurance policy to its members in partnership with Walnut Insurance. The product is available to Koho members in Alberta, British Columbia, Manitoba, Nova Scotia, and Ontario. The insurance is designed to protect tenants from various risks including liability, loss or damage, ensuring they have coverage in emergencies or natural disasters. Daniel Eberhard, KOHO Founder and CEO, commented: “Roughly 40% of Canadians rent. The idea that paying a mortgage counts towards building credit, but paying rent doesn’t is an outdated view of the world. We are thrilled to bring Rent Reporting to our users. More than that, we are adding Tenant Insurance and the first cash back on rent programme in Canadian history.” Read the full story here 👉 https://lnkd.in/e9hKu8cr #InsurtechInsights #InsuranceNews #Partnerships

A recent survey by Insurity has revealed a notable shift in consumer priorities when choosing insurance providers, especially in the face of increasing severe weather events. The 2024 Severe Weather Consumer Pulse Survey found that 52% of consumers are more inclined to purchase insurance from companies that actively invest in new technologies designed to improve the claims process after severe weather incidents. “Consumers are increasingly valuing the technological capabilities of their insurance providers, especially in the context of severe weather events,” said Chris Lafond, Chief Executive Officer at Insurity. Read the full story here 👉 https://lnkd.in/eRzqiHrF

Discover the essence of inspiring leadership in the Asian insurance industry with Winnie Wong, JP, CEO & Executive Director of Asia Insurance & Avo Insurance, at Insurtech Insights Asia 2024! With over 27 years of experience, Winnie is a pioneering leader in insurance and risk management. She brings a wealth of knowledge in navigating industry challenges and driving growth, making her one of the most influential voices in the field today. As a key figure in female leadership in Asia, Winnie’s insights will inspire and empower attendees to lead with innovation and resilience. Join Winnie and 5,000+ professionals at Asia’s largest insurance conference on December 4-5, 2024, in Hong Kong! For more details, visit Insurtech Insights Asia here: https://lnkd.in/gzAzjGF #ITI2024 #ITIAsia2024 #InsurtechInsights #Insurance #Insurtech #Leadership #WomenInLeadership #RiskManagement #Innovation

Bikmo, a leading cycling insurtech, has announced it is entering a three year partnership with the Association of Cycle Traders (ACT), the UK’s largest and most established cycle trade membership organisation. The partnership represents a major milestone for Bikmo. The startup launched their commercial insurance services in 2021 and has insured hundreds of cycling businesses from independent retailers to a global food delivery company. Bikmo’s team focuses on developing specialist products with insurers that understand the cycling sector. Robert Grisdale of Partnerships at Bikmo said: “We are very excited to be working with the ACT to support their members with specialist insurance advice and cover. Insurance should be a reliable lifeline when the unexpected happens, but in recent years businesses are struggling to find cover without gaps or impracticable terms." Jonathan Harrison, Director at the ACT added: “We’re thrilled to collaborate with Bikmo. The partnership represents a significant step forward in our mission to support and strengthen the cycling industry. By offering our members access to specialist insurance services that understand the unique challenges of our sector, we’re ensuring that they are better equipped to thrive.” Read the full story here 👉 https://lnkd.in/e8sG2UKk #InsurtechInsights #InsuranceNews #Partnerships

PCF Insurance Services has announced the completion of the acquisition of 360 Insurance, a Nevada-based insurer. The company has roots in the Las Vegas Valley, and is licensed to operate across the US. 360 Insurance has operated for over seventy-five years, as a provider of auto, home commercial, and life insurance solutions and caters to both personal and business clients. Brooke King DeWyze, CPA, CIC, PFC Insurance Chief Development Officer, commented: “360 Insurance was founded on the principles of superior service, trust and experience, which have served as the foundation for their continued success. “We’ve identified Las Vegas as a priority market within our M&A strategy, and it became clear through our conversations with 360 Insurance that the team shares PCF Insurance’s commitment to extraordinary service and growth. Between their service-oriented culture and the markets they serve, 360 Insurance really is the perfect fit.” Read the full story here 👉 https://lnkd.in/eiGjQecp #InsurtechInsights #InsuranceNews

Nexus Insurance Group, the Specialty MGA, has announced it is launching a new Alternative Risk Transfer (ART) business, which will be led by Christof Bentele, (pictured) President of Nexus Specialty Casualty. Nexus ART will provide multi-year structured re(insurance) solutions, primarily focussing on Property insurance, as well as Liability and Multi-line insurance. Bentele commented: “We’re delighted to launch the new Alternative Risk Transfer Business to offer risk transfer and retention solutions that don’t fit the conventional, traditional insurance model. Adam Kembrooke, CEO and President of Nexus Group, US, added: "We see a real need in the market now for a service-focused offering in the structured solutions space and our talented team will work closely with our brokers to build unique alternative risk solutions for clients. We’re confident the new ART business will be a profitable and fast-growing addition to our already expansive range of products.” Read the full story here 👉 https://lnkd.in/eFcR7NSQ `#InsurtechInsights #InsuranceNews

Carpe Data, a leading provider of predictive data for the insurance industry, has announced a partnership with EverPeak Insurance to create a new workers’ compensation solution developed by Pinnacol Assurance. The collaboration is driven by EverPeak Insurance’s need to accelerate its underwriting process as it scales operations nationwide. Max Drucker, CEO of Carpe Data, commented: “Part of our mission is to accelerate small business underwriting by providing powerful tools to underwriters to make their work easier. We’re thrilled to partner with EverPeak Insurance and empower them to strengthen their underwriting capabilities without adding strain on their employees. This will allow them to achieve their goals and continue offering best-in-class workers’ compensation insurance.” Vlad Stojanovic , COO of EverPeak Insurance, added: “As a Managing General Agency, our model thrives on swift, accurate risk assessment and pricing. This partnership is key to our growth strategy, particularly with our ‘no-touch, bind-or-decline’ service. It effectively powers our approvals and denials, reducing manual intervention.” Read the full story here 👉 https://lnkd.in/er_B-zuR #InsurtechInsights #InsuranceNews

Ascot Group, the Bermuda-based global specialty insurer, has announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business. Through the new platform, Ascot has also announced that the company is entering a partnership with institutional investors aiming to provide centralised reinsurance for its global property portfolio through a Bermuda special purpose insurer. Charles Craigs, (pictured) Ascot Group Managing Partner Principal for Third-Party Capital, commented: “Through Leadline Capital Partners, we are drawing on Ascot’s heritage of excellent underwriting and creative risk solutions to provide attractive and innovative offerings to third party capital. We are very pleased to announce the latest collaboration as we expand this business.” Justin Keith, Ascot Bermuda Limited President and CEO, added: “We look forward to the continued expansion of our alternative capital business under Leadline Capital Partners. This business represents the best of all worlds for Ascot and its stakeholders: incremental capacity delivered to our insured and reinsured clients, an attractive risk-adjusted return profile to a leading capital partner, and the continued opportunity for the company to deliver its world-class capabilities to both clients and investors.” Read the full story here 👉 https://lnkd.in/etY76Xek #InsurtechInsights #InsuranceNews

Guidewire Software, a leading developer of software solutions for the insurance industry, has announced the release of critical data and maps detailing wildfire risk in the United States, available at national, state, and local levels. Guidewire’s data uses more than 1,000 data points and HazardHub risk scores for climate risks and extreme weather events. According to the Guidewire HazardHub Enhanced Wildfire Risk Score, Nevada, Oregon, California, Idaho, and Wyoming are the states with the greatest risk for wildfires. Tammy Nichols Schwartz, CPCU and Senior Director of Data and Analytics at Guidewire, commented on the importance of mitigating wildfire risk: “Efforts such as creating a defensible space, and retrofitting homes with fire-resistant materials, windows, and vents can boost a home’s resilience by as much as 40% and help make insurance more affordable. Proactive mitigation is essential for safeguarding homes and contributing to a more resilient community and future.” Read the full story here 👉 https://lnkd.in/ew4XQNSv You will be able to meet Guidewire at Insurtech Insights London 2025. #InsurtechInsights #InsuranceNews

As we continue to unveil the exciting lineup for Insurtech Insights Asia 2024, we’re pleased to introduce Clarence Wong, Chief Economist at Peak Re. With over two decades of experience in the insurance and reinsurance industry, Clarence brings deep expertise in navigating economic challenges and building resilience in the face of market volatility. Clarence’s extensive experience across the Asia-Pacific markets has equipped him with a profound understanding of financial risk, enterprise risk management, and overall economic trends in the region. His insights will be crucial as we explore strategies for strengthening the insurance sector amid economic uncertainties and climate-related challenges. Join Clarence and 5,000+ insurance professionals at Asia’s largest insurance conference on December 4-5, 2024, in Hong Kong! We’re just getting started - stay tuned for more thought leaders who are redefining what's next in insurance. The journey to December 2024 is just beginning! For more details, visit Insurtech Insights Asia here: https://lnkd.in/gzAzjGF #ITI2024 #ITIAsia2024 #InsurtechInsights #Insurance #Insurtech #EconomicResilience #RiskManagement #Reinsurance