InsurTech

Openkoda, a leading provider of open-source enterprise software, has launched a GenAI-powered platform which is set to revolutionise modern insurance applications.

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.

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.

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. 

Novidea, a leading InsurTech firm known for its cloud-based, data-driven insurance enterprise management platform, has bolstered its presence in the London Market by relocating to a larger office space in the heart of the City of London.

Kayna, an award-winning embedded insurance infrastructure platform; WTW, a global advisory, broking, and solutions leader; and Vibrant, a cybersecurity oversight platform, have joined forces to streamline vendor risk management.

DigitalOwl, a provider of advanced AI solutions tailored for the life insurance and legal sectors, has announced a new partnership with ExamOne which aims to enhance client services across the United States.

Skyward Specialty Insurance Group, Inc., a leader in the specialty property and casualty (P&C) insurance market, has introduced its new Life Sciences liability coverage.