Company News

Insurity has introduced a new product, powered by OIP Robotics, designed to enhance the accuracy and efficiency of data extraction for insurers and MGAs.

Insurity unveils AI-powered platform to boost data accuracy and efficiency for insurers and MGAs

Insurity has introduced a new product, powered by OIP Robotics, designed to enhance the accuracy and efficiency of data extraction for insurers and MGAs.
Saudi Reinsurance Company (Saudi Re), a leading reinsurer in the Middle East, has appointed Ahmed Al-Jabr as its new chief executive officer (CEO), effective from 1st October 2024.

HealthTech startup Air Doctor secures $20m in Series B funding

Air Doctor, an Israeli HealthTech startup providing a platform that connects travellers with medical professionals globally, has raised $20m in a Series B funding round.
Earnix, the global leader in intelligent SaaS solutions for financial services, has launched an advanced AI platform that is set to combine pricing analytics with automated credit risk decisioning.

Earnix unveils new platform to combine pricing optimisation and credit risk decisioning

Earnix, the global leader in intelligent SaaS solutions for financial services, has launched an advanced AI platform that is set to combine pricing analytics with automated credit risk decisioning.
The short-term disability (STD) claims process presents significant challenges for both carriers and benefits administrators. These inefficiencies primarily stem from reliance on outdated, manual processes like live calls, physical forms, and antiquated methods for capturing necessary documentation. Such approaches are not only resource-intensive but also create frustrating experiences for employees and employers alike. With client satisfaction and retention becoming ever more crucial, carriers are increasingly turning to new technologies to resolve these bottlenecks, as customer experience specialists Ushur explain.

How AI is streamlining short-term disability management and reducing costs

The short-term disability (STD) claims process presents significant challenges for both carriers and benefits administrators. These inefficiencies primarily stem from reliance on outdated, manual...
Jakarta-based InsurTech startup, Rey, has secured an additional $3.5m in funding as it seeks to expand its AI-powered health insurance platform.

Jakarta-based InsurTech Rey secures $3.5m funding round

Jakarta-based InsurTech startup, Rey, has secured an additional $3.5m in funding as it seeks to expand its AI-powered health insurance platform.
EXL, a leading data analytics and digital operations solutions company, has unveiled the EXL Insurance LLM, a new large language model (LLM) designed to transform critical tasks in the insurance sector, such as claims and underwriting.

EXL launches insurance specialised LLM to transform underwriting

EXL, a leading data analytics and digital operations solutions company, has unveiled the EXL Insurance LLM, a new large language model (LLM) designed to transform critical tasks in the insurance sector, such as claims and underwriting.
Insuritas, a prominent embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance, a company that offers multi-peril disaster insurance coverage.

Insuritas partners with Recoop to enhance financial institutions’ disaster insurance offerings

Insuritas, a prominent embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance, a company that offers multi-peril disaster insurance coverage.
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...
Ushur, a leader in AI-powered Customer Experience Automation (CXA), has announced the launch of its new end-to-end solution designed specifically for insurance carriers offering group and worksite benefits.

Ushur enhances customer experience with new end-to-end solution for insurance carriers

Ushur, a leader in AI-powered Customer Experience Automation (CXA), has announced the launch of its new end-to-end solution designed specifically for insurance carriers offering group and worksite benefits.
RT Specialty, a leading wholesale distributor of specialty insurance products and services, has announced several leadership team appointments effective October 1, 2024.

RT Specialty announces swathe of leadership team appointments

RT Specialty, a leading wholesale distributor of specialty insurance products and services, has announced several leadership team appointments effective October 1, 2024.
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Bolttech, a fast-growing global InsurTech company, has successfully secured a $50m venture debt facility from HSBC.

bolttech secures $50m venture debt facility from HSBC to fuel InsurTech growth

Bolttech, a fast-growing global InsurTech company, has successfully secured a $50m venture debt facility from HSBC.
VOOM Insurance, an InsurTech pioneer known for crafting usage-based insurance products tailored for the future of mobility, has appointed Thomas Coyne as its new head of insurance.

VOOM Insurance appoints Thomas Coyne as head of insurance

VOOM Insurance, an InsurTech pioneer known for crafting usage-based insurance products tailored for the future of mobility, has appointed Thomas Coyne as its new head of insurance.
The Claims Portal, a UK Ministry of Justice-mandated service for managing personal injury claims valued between £5,000 and £25,000, has partnered with CRIF to improve user experience and modernise the claims management process.

The Claims Portal teams up with CRIF to modernise the claims management process

The Claims Portal, a UK Ministry of Justice-mandated service for managing personal injury claims valued between £5,000 and £25,000, has partnered with CRIF to improve user experience and modernise the claims management process.
Luma Financial Technologies, a global leader in structured products and insurance solutions, has announced its expansion into the life insurance sector.

Luma Financial Technologies launches innovative life insurance platform

Luma Financial Technologies, a global leader in structured products and insurance solutions, has announced its expansion into the life insurance sector.
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. 
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