Sector Updates

Leading figures from the insurance and cyber security sectors have issued a unified call for insurers to enhance cyber resilience in response to a rapidly evolving threat landscape.

Yokahu, a leading innovator in parametric insurance, has introduced cat-risk.com, the first independent, many-to-many parametric exchange designed to revolutionise disaster risk finance within the London re/insurance market.

Peak3, a global InsurTech company specialising in cloud-based insurance solutions, has raised $35m in a Series A funding round to accelerate its expansion across the UK and European markets.

Novidea, a provider of cloud-based, data-driven enterprise insurance management solutions, has announced a raft of updates to its insurance management platform designed to boost its effectiveness in policy management, claims administration, billing, accounting, document and file management, and other key areas.

Global InsurTech firm bolttech, which operates a technology-driven insurance ecosystem, has announced the appointment of Ridhi Chaudhary, chief investment officer at Dragon Fund by Liquidity and MUFG, as a non-executive director.

Sixfold, a pioneer in generative AI solutions for insurance risk analysis, has launched its AI Accuracy Validator, a tool designed to improve underwriter confidence in AI-generated risk assessments.

InsurTech startup ResiQuant, which specialises in property risk assessment, has raised $4m in a seed funding round led by LDV Capital.

A landmark study by the University of Groningen has demonstrated the tangible financial benefits of digital health engagement, revealing that insurers can cut healthcare costs by up to 5.3% over the next two years. The research, which analysed a major Dutch health insurer’s data, highlights the potential of digital platforms to drive user engagement and reduce the strain on healthcare systems. At the forefront of this transformation is dacadoo, whose second-generation platform not only enhances engagement but also leverages AI and behavioural science to optimise underwriting and dynamic pricing.

Marsh, a global leader in insurance broking and risk advisory, and a subsidiary of Marsh McLennan, has introduced an upgraded version of its flagship Cyber Echo insurance facility, providing clients with up to $45m in additional cyber insurance capacity.

bolttech and C Spire have partnered to launch C Spire Tech Protection, providing customers with a seamless, all-in-one protection solution for their connected devices, to address growing digital security risks.