Features

Novidea

How Novidea is redefining insurance distribution through technology and market expertise

FinTech Global recently sat down for an interview with Novidea to learn more about the company and how it is redefining insurance distribution.
Ushur

How Ushur is driving secure and compliant AI adoption in Regulated Industries

AI and GenAI have become staples in regulated industries. While they bring a lot of exciting opportunities, they also carry a lot of cybersecurity, regulatory and data privacy concerns. 
Despite women making up 28% of the UK’s FinTech workforce, only 10% of board seats are occupied by females, reflecting a long history of being overlooked for leadership roles. However, a new wave of trailblazers is challenging these norms, reshaping the industry with expertise, innovation, and a commitment to inclusivity. These leaders are not just breaking barriers—they’re redefining what it means to command a team. 

Redefining the CFO role in an AI-driven world

Despite women making up 28% of the UK’s FinTech workforce, only 10% of board seats are occupied by females, reflecting a long history of being overlooked for leadership roles. However, a new wave of trailblazers is challenging these norms, reshaping the industry with expertise, innovation, and a commitment to inclusivity. These leaders are not just breaking barriers—they’re redefining what it means to command a team. 
Five Sigma was founded in 2017 to leverage insurance data with deep tech. Oded Barak, Co-founder and CEO, and his partners in Five Sigma brought in domain experts in claims and tech and worked to put together a cloud solution that transformed the claims management market. Now, they’ve released another such product.

Five Sigma’s AI adjuster Clive is transforming claims management

Five Sigma was founded in 2017 to leverage insurance data with deep tech. Oded Barak, Co-founder and CEO, and his partners in Five Sigma...
The insurance sector is currently faced with a pressing need to enhance accuracy in risk assessment, streamline claims verification, and personalise coverage to meet rising customer demands. With expectations higher than ever, firms are now looking for a panacea. Enter agentic AI—an innovative solution that is being tipped by many to transform the InsurTech sector in 2025.  

How agentic AI will transform InsurTech in 2025

The insurance sector is currently faced with a pressing need to enhance accuracy in risk assessment, streamline claims verification, and personalise coverage to meet rising customer demands. With expectations higher than ever, firms are now looking for a panacea. Enter agentic AI—an innovative solution that is being tipped by many to transform the InsurTech sector in 2025.  
As UK insurers grapple with rising claims costs and escalating premiums, the pressure on onboarding processes has never been greater. Motor claims payouts surged by 18% last year, while British drivers faced premium hikes of over a third, outpacing the rest of Europe. At the same time, home insurance renewal quotes soared by 42%, leaving insurers scrambling to adapt. Given these tribulations, the efficiency and effectiveness of insurance onboarding has become crucial. 

The current state of insurance onboarding: Key trends and insights

As UK insurers grapple with rising claims costs and escalating premiums, the pressure on onboarding processes has never been greater. Motor claims payouts surged by 18% last year, while British drivers faced premium hikes of over a third, outpacing the rest of Europe. At the same time, home insurance renewal quotes soared by 42%, leaving insurers scrambling to adapt. Given these tribulations, the efficiency and effectiveness of insurance onboarding has become crucial. 
The 2024 U.S. presidential election, one of the most closely watched and contentious in recent history, has culminated in Donald Trump’s re-election as the 47th president. With the nation sharply divided over key issues—from economic policies and immigration to the future of democracy—this election has underscored the deepening polarisation in the U.S. political landscape. As ballots are counted and legal challenges loom, the country stands at a critical juncture, with Trump poised to once again shape the future of America amidst intense scrutiny and ongoing controversies. But what does this historic moment mean for the global InsurTech industry?

What does Donald Trump’s presidential election win mean for InsurTech?

The 2024 U.S. presidential election, one of the most closely watched and contentious in recent history, has culminated in Donald Trump’s re-election as the 47th president. With the nation sharply divided over key issues—from economic policies and immigration to the future of democracy—this election has underscored the deepening polarisation in the U.S. political landscape. As ballots are counted and legal challenges loom, the country stands at a critical juncture, with Trump poised to once again shape the future of America amidst intense scrutiny and ongoing controversies. But what does this historic moment mean for the global InsurTech industry?
The insurance industry has undergone a significant transformation over the past few years, largely driven by the hastening adoption of technology and vastly evolving consumer expectations. Among the key players in this evolution is Peak3, a leading provider of SaaS solutions tailored specifically for the insurance sector. With a strong commitment to innovation and a focus on digital transformation, Peak3 is redefining the landscape of insurance technology.

How Peak3 has scaled the InsurTech landscape

The insurance industry has undergone a significant transformation over the past few years, largely driven by the hastening adoption of technology and vastly evolving...
Often seen as an industry lambasted for a lack of change, the insurance sector has opened its eyes to a swathe of potential innovative technologies that could revolutionise the sector throughout 2024. At the height of this movement, the principle of automated underwriting emerged as the industry’s great fascination, with many touting it as a potential silver bullet.

What is the future of insurance underwriting?

Often seen as an industry lambasted for a lack of change, the insurance sector has opened its eyes to a swathe of potential innovative...
Health insurance plays a critical role in safeguarding individuals and families from the financial burdens of medical expenses, offering essential coverage and peace of mind during times of illness or injury. Traditionally, the industry relied on complex and rigid models, often burdened by lengthy paperwork, slow claims processing, and fragmented communication. However, the health insurance market is projected to reach a remarkable $2.38tn in gross written premiums by 2024, according to Statista. This comes amidst a significant shift towards digital platforms and telemedicine services.

The changing face of health insurance

Health insurance plays a critical role in safeguarding individuals and families from the financial burdens of medical expenses, offering essential coverage and peace of mind during times of illness or injury. Traditionally, the industry relied on complex and rigid models, often burdened by lengthy paperwork, slow claims processing, and fragmented communication. However, the health insurance market is projected to reach a remarkable $2.38tn in gross written premiums by 2024, according to Statista. This comes amidst a significant shift towards digital platforms and telemedicine services.

News Stories

Digital insurance broker UpCover secures $19m Series A funding

Digital insurance broker UpCover secures $19m Series A funding

Digital insurance broker UpCover, which specialises in commercial insurance solutions, has raised $19m in a Series A funding round to accelerate the growth of its platform.
Announced in early 2021 and currently at version 3.2, the Core Data Record (CDR) is a groundbreaking initiative aimed at streamlining and standardising transaction data collection. Designed to be captured at the point of binding, this system facilitates key processes such as premium validation, claims matching, tax validation, and regulatory reporting. Now it is at the epicentre of the insurance sector's digital revolution, as Novidea explains.

How Lloyd’s Core Data Record is transforming the insurance industry

Announced in early 2021 and currently at version 3.2, the Core Data Record (CDR) is a groundbreaking initiative aimed at streamlining and standardising transaction...
LoadStar Insurance Services, a managing general agent (MGA), has announced a partnership with Redkik to modernise and streamline customs inspection coverage for businesses worldwide.

LoadStar and Redkik partner to streamline customs inspection insurance

LoadStar Insurance Services, a managing general agent (MGA), has announced a partnership with Redkik to modernise and streamline customs inspection coverage for businesses worldwide. Customs...
Norwegian InsurTech startup 7Analytics, which specialises in flood data analytics, has received an investment from IAG Firemark Ventures, the corporate venture capital arm of general insurer IAG.

InsurTech firm 7Analytics secures investment from IAG Firemark Ventures

Norwegian InsurTech startup 7Analytics, which specialises in flood data analytics, has received an investment from IAG Firemark Ventures, the corporate venture capital arm of general insurer...

Carbon Underwriting adds industry veterans Paddy Byrne and Michael Watson to board

Carbon Underwriting, a specialist independent managing general underwriter and Lloyd’s syndicate, has announced significant changes to its board of directors. The company has appointed industry...

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