FinTech News

Rainbow, a digital managing general underwriter specialising in small business insurance, has recently secured a significant $12 million in seed funding.

IEHP, a prominent healthcare provider, has consistently relied on Ushur for its strategic communication automation needs. This partnership has seen the successful launch of over 265 campaigns in various languages since May 2022, effectively reaching 619K IEHP members.

New York-based InsurTech Kalepa has revealed the appointment of a Japanese industry leader to its Advisory Board.

2024 marks a pivotal chapter in the dynamic world of InsurTech, where innovation and technology converge to redefine the insurance landscape. From AI-driven risk assessments to the emergence of Generative AI, this year is set to herald in a new era that will revolutionise how insurance firms operate. As digitalisation accelerates and customer expectations evolve, 2024 is set to see a disruption to traditional models, offering personalised solutions, streamlined processes, and enhanced customer experiences.  

InsurTech startup Branch has recently undergone a second wave of layoffs, impacting 85 employees, following a previous cut of employees in June, according to sources from The Coverager.

Vienna-based InsurTech hi.health has bagged €6m in a pre-Series A financing round, as it looks to expand across Europe.

Technology is the cornerstone of the modern insurance sector, yet grappling with technical debt remains a significant challenge for many insurers. Technical debt arises when shortcuts in IT infrastructure accumulate, impeding sustained and robust practices for long-term growth, as Hyperexponential explain.

In an era defined by technological leaps, the insurance industry faces a pivotal juncture: with the opportunity to embrace Generative AI (GenAI) to elevate the customer experience at the forefront of that. FinTech Global had the privilege to speak with Deepti Kalra, Vice President & Head of AI Products & Solutions – Insurance Analytics at EXL, to delve into the crucial facets of GenAI and its transformative potential within insurance. 

Ushur has introduced innovative AI-powered solutions aimed at automating and streamlining the intake process for Group Benefits sales quoting and requests for proposal (RFP).

Akur8, known for its next-generation insurance pricing solution powered by transparent machine learning, has recently announced a strategic partnership with Ohio Mutual Insurance Group.