Sector Updates

Evidently, an AI platform transforming healthcare workflows, has raised $15m in Series A funding in a round led by DN Capital.

Arthur J. Gallagher has announced its acquisition of AssuredPartners in a deal valued at $13.45bn.

Aviva, a leading British multinational insurance provider offering a range of life, general, and health insurance products, has entered into a preliminary agreement to acquire Direct Line for £3.6bn.

A Fortune 500 insurance carrier recently embarked on an ambitious journey to transition its on-prem big data ETL platform to the cloud. This initiative was spearheaded by the client’s largest Azure service partner. The promise? Enhanced speed and scalability for data transfer, mapping, and verification. Ivan Sokolov, BI and ETL developer at Symfa, explained its role in the transition.

AI and GenAI have become staples in regulated industries. While they bring a lot of exciting opportunities, they also carry a lot of cybersecurity, regulatory and data privacy concerns. 

In today’s fast-changing insurance industry, addressing the human side of risk is more important than ever. Insurance has evolved beyond just policies and claims, focusing instead on fostering safety, trust, and collaboration between insurers and their clients. Risk service plans tailored to these human factors can create significant advantages for all parties involved, fostering a win-win scenario, according to Risk Control Technologies.

Previsico, a surface water flood forecasting specialist, has partnered with Esri UK to mitigate the increasing risks posed by surface water flooding for businesses and organisations in the UK.

Benekiva, a prominent InsurTech company transforming claims and servicing operations, has announced the appointment of four industry veterans to its leadership team.

Mahindra Finance, one of India's leading non-banking financial companies (NBFCs), is set to bring tailored general insurance solutions to its extensive customer base through a new partnership with Magma HDI General Insurance Company.

Customer retention is more than just a metric in the insurance sector—it underpins profitability and sustainable growth. As the industry evolves and consumer expectations rise, insurers must innovate to retain customers and maintain a competitive edge. Digital health technology platform dacadoo explores nine key actionable strategies for life and health insurers to foster loyalty and drive long-term customer engagement.