Sector Updates

The insurance sector is at an important crossroads. It is currently in a period of increased competition and market pressure, meaning existing growth and profitability strategies are under strain. They need to find a way to cope with this market pressure but not stifle their future growth.

ZestyAI, an artificial intelligence-driven property risk analytics firm, has entered into a strategic partnership with Kin Insurance, a digital, direct-to-consumer home insurance provider focused on catastrophe-exposed markets.

SOVENTURE Insurance, a specialist in flexible travel insurance and part of InsureMyTrip, a trusted name in global travel protection, has unveiled a new suite of travel insurance plans tailored specifically for digital nomads and adventure seekers.

In many parts of Southeast Asia, insurance brokerage remains a highly manual business. Email threads, spreadsheets, and hand-entered data are still standard practice for numerous firms operating under tight margins and lean staffing. For years, this model was sufficient. But now, pressures are mounting, according to Novidea.

European Watch Company (EWC), an American luxury watch retailer specialising in high-end timepieces, has partnered with Chubb to introduce an exclusive insurance offering designed specifically for watch collectors.

Global InsurTech provider Duck Creek Technologies has announced a new SaaS partnership with Capricorn Mutual, the insurance division of member-owned organisation Capricorn, to overhaul its core insurance systems.

CLARA Analytics, a leading provider of artificial intelligence (AI) solutions for the insurance industry, has announced a significant upgrade to its flagship platform, Claims DocIntel Pro. 

Cyber risk analytics provider Cyberwrite has deepened its collaboration with Markel Insurance to enhance cyber underwriting, broker enablement, and risk modelling capabilities across European markets.

Crabi, a full-stack digital auto insurance company based in Mexico, has secured $13.6m in a new funding round to boost its AI-powered insurance offering and expand access to affordable vehicle coverage nationwide.

Markel Insurance and Insurate, an InsurTech company focused on the middle-market workers compensation sector, have formed a strategic partnership. Markel is a major U.S.-based...