Australian InsurTech Youi opts out of aggregate reinsurance as market conditions harden
Youi, a prominent Australian insurance company under the Outsurance Group umbrella, has decided not to renew its aggregate reinsurance for the 2024 financial year, due to the current hard market conditions.
How Ushur is pioneering the future of InsurTech with advanced CXA
For many insurers, providing a satisfactory customer experience is at the forefront of their ambitions. One such InsurTech is Usher, who prides themselves on their industry-leading solution, Customer Experience Automation (CXA) platform. But why is this solution so groundbreaking? And can it be the silver bullet many carriers need?
The digital transformation of specialty pricing: A deep dive with Hyperexponential
Within the realms of specialty and commercial insurance, there's a heightened focus on precision. These particular markets demand more than just the usual numerical analysis when it comes to policy pricing. For them, pricing is not only a combination of art and science but also a strategic influencer. As the world embraces digital advancements, those who manage to break free from traditional practices dominate the industry.
Hartley Cylke Pacific joins Arthur J. Gallagher & Co.’s growing portfolio
Arthur J. Gallagher & Co has snapped up Hartley Cylke Pacific Insurance Services, a San Diego-based retail insurance broker.
Roadzen secures Nasdaq Listing with $683M equity value
Global InsurTech Roadzen has completed a business combination with SPAC Vahanna Tech Edge Acquisition I Corp, and will now start trading on Nasdaq with a $683M equity value.
The future of underwriting: IntellectAI’s triumph with generative AI models
Research indicates that the Generative AI market is at a pivotal moment. According to Grandview Research’s Market Analysis report, the global generative AI market size stood at USD 10.14bn in 2022 and is poised to witness a compound annual growth rate (CAGR) of 35.6% from 2023 to 2030.
Premium homeowners insurance firm Openly secures $100m in Series D
Openly, a Boston, MA-based firm, is a premium homeowners insurance provider that recently bagged a significant financial milestone.
Why 89% of UK insurers demand a revolution in pricing technology
In the evolving landscape of insurance, there is a stark need for adaptation. The rampant shift towards digitalisation has impacted the very core of how insurers operate, but the data-driven wave hasn't been smooth sailing. Underwriters and actuaries, key players in the industry, voice discontent with contemporary processes.
Choosing the best development route: From native to cross-platform
Mobile app development has evolved significantly since the advent of smartphones in the late 2000s. Initially, developers had two main approaches to consider: native and hybrid development. Native apps were built using the platforms' specific programming languages, while hybrid apps were web applications housed within a sandbox browser.
How Ascent is helping insurers and reinsurers boost profitability
Founded in 2005, Ascent has a key mission: help insurers and reinsurers become
more profitable by accelerating their ability to transact. We recently spoke to CCO
George Earp and Principal Architect Konrad Pfeffer to find out more.
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