InsurTech

AdvantageGo, a leading commercial insurance and reinsurance software provider, and FortifyData, a top provider of cyber risk management solutions, have announced a strategic alliance to improve cyber risk analysis for underwriters.

In the high-pressure world of insurance underwriting, falling into autopilot is an easy yet dangerous trap. This risk is heightened when underwriters face a continuous stream of similar accounts, leading to quick decision-making that might overlook critical details.

Global reinsurer MAPFRE RE, known for its robust presence in the insurance and reinsurance industry, has announced the appointment of Alberto Estevez Allegue as chief representative officer of its representative office in Tokyo, Japan.

Howden Re, the reinsurance and risk advisory arm of Howden, and Moody’s, a global credit rating, research, and risk analysis firm, have launched a new three-month reciprocal early careers talent exchange programme.

Brookfield, one of the world’s largest private capital groups, has applied to establish an insurance entity in the UK.

Chubb Limited, a global insurance leader, has announced significant executive appointments within its North American general insurance business.

Najm for Insurance Services Company, a Saudi-based provider of comprehensive insurance solutions, has announced a new telematics initiative aimed at improving road safety across Saudi Arabia.

The Woodlands Financial Group (TWFG), an insurance broker supported by reinsurer RenaissanceRe, has announced its intention to raise up to $176m through its upcoming Initial Public Offering (IPO).

Eastern Alliance Insurance Group, a wholly-owned subsidiary of ProAssurance Corporation, has partnered with CLARA Analytics to optimise insurance claims through the use of AI.

In the competitive landscape of insurance underwriting, the integration of risk data is emerging as a secret weapon to enhance the performance of your underwriting team. One way this can be exploited is through the use of loss control, a risk management method aimed at decreasing the likelihood of losses occurring and minimising the impact of any that do happen. Due to the clear benefits of this, numerous key industry players are now claiming that advanced loss control practices can transform the traditional underwriting processes, reducing claims while increasing renewals and premiums.