Sector Updates

1Fort, a leading VC-backed InsurTech, has announced the launch of its cutting-edge AI platform that enables brokers to instantly quote from leading specialty markets.

Marsh McLennan Agency, a subsidiary of Marsh, has announced the acquisition of Perkins Insurance Agencies, an independent agency based in Abilene, Texas.

Ascend has announced a strategic partnership with Mylo to advance the modernisation of the insurance industry’s financial infrastructure.

Motor claims processing has become a crucial component of the insurance industry due to its high volume, significant impact on customer satisfaction, and financial implications. With the frequent occurrence of vehicle-related incidents, insurers must efficiently manage numerous claims to maintain operational effectiveness. The speed and accuracy of claims handling directly influence customer satisfaction and loyalty – and Generative AI may be the future, as Simplifai explains.

Bowhead Specialty, a provider of casualty and professional liability products, has announced its deployment of Kalepa’s Copilot underwriting platform to utilise its advanced AI for improved risk selection and optimal customer experience.

Bindable, the InsurTech leader for alternative distribution solutions, has announced a new partnership with HoneyQuote, a home insurance comparison tool that is changing the way homeowners shop for insurance in Florida.

SiriusPoint, a global specialty insurer and reinsurer, has announced the appointment of Susan Cross to its board director, effective 24 May 2024.

Swiipr has announced it secured $7.6m in funding to advance its platform designed to revolutionise airline disruption payments.

Stride, a leader in providing benefits for independent workers, has announced a new partnership with Roadie, a logistics platform with over 200,000 drivers across the USA.

InsurTech specialist Optalitix has announced a partnership with Pool Re, the UK's largest terrorism reinsurer, to develop a comprehensive treaty and claims management system.