Sector Updates

Akur8, a next-generation insurance pricing and reserving solution, has been selected by leading Spanish insurer Seguros Lagun Aro to streamline its insurance pricing process.

In the competitive world of insurance, the profitability of underwriting is closely linked to informed decision-making that efficiently mitigates risks and optimizes loss ratios. Traditional barriers, primarily the compartmentalisation of data, often hinder this objective.

Onsurity, an Indian InsurTech startup that provides healthcare benefits to small and medium enterprises (SMEs), has raised an additional $21m in funding.

Cytora, a digital risk processing platform, has entered into a partnership with Mitiga Solutions, a provider of climate risk intelligence, to help insurers better assess and manage climate-related risks.

Sun Life US, a leading provider of insurance and employee benefits, has launched an enhanced claims integration system.

Ryan Specialty, a leading international specialty insurance firm, has announced that London-based underwriter Tom Daniels has joined LifeScienceRisk as managing director of LifeScienceRisk International.

Akur8, the machine learning-powered insurance pricing and reserving platform, has announced the closure of a $120m Series C funding round.

Health insurance plays a critical role in safeguarding individuals and families from the financial burdens of medical expenses, offering essential coverage and peace of mind during times of illness or injury. Traditionally, the industry relied on complex and rigid models, often burdened by lengthy paperwork, slow claims processing, and fragmented communication. However, the health insurance market is projected to reach a remarkable $2.38tn in gross written premiums by 2024, according to Statista. This comes amidst a significant shift towards digital platforms and telemedicine services.

Ledgebrook, the rapidly growing InsurTech firm, has successfully closed a $17m Series B funding round.

Nirvana, a pioneering health tech company, today announced a significant boost to its mission of bringing transparency to health insurance processes.