Industry News

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.

Arthur J. Gallagher & Co has snapped up Hartley Cylke Pacific Insurance Services, a San Diego-based retail insurance broker.

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.

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.

Openly, a Boston, MA-based firm, is a premium homeowners insurance provider that recently bagged a significant financial milestone.

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.

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.

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.

Kayna, the embedded insurance infrastructure platform, has successfully secured a €1 million pre-seed funding round. 

As InsurTech continues to become vital for the success of insurance companies, specialist research firm FinTech Global has released the sixth annual edition of its InsurTech100 list.