Sector Updates

mTek, a Kenyan-based InsurTech firm, has secured an investment of $1.25m (KSh 167.8m) to advance its expansion plans within the Kenyan and East African insurance markets.

In the ever-evolving landscape of banking, financial services, and insurance (BFSI), a groundbreaking movement is underway, poised to revolutionise traditional operations and service delivery. At the forefront of this transformation is Intelligent Process Automation (IPA) – a pioneering blend of Artificial Intelligence (AI) and advanced process automation technologies. IPA is not merely an incremental improvement; it represents a paradigm shift, specifically engineered to automate written inquiries. InsurTech firm Simplifai investigates this pioneering technology. 

Chaucer Insurance, a specialty insurer and reinsurer, has joined forces with Gabriel, a Tel Aviv-based technology company, to introduce a pioneering insurance product designed specifically for mass shooting events.

Coterie, an InsurTech MGA simplifying small business insurance, has secured a significant boost in funding, announcing a raise of $27m.

PremFina, a leader in premium finance, and Blink Intermediary Solutions, a standout alternative broking network, have announced a partnership aimed at innovating finance solutions across 1,700 UK broking outlets.

Buddy, a leading InsurTech shaping the future of embedded insurance, has announced its partnership with Stripe to introduce innovative e-commerce capabilities tailored for the insurance sector.

The advent of machine learning (ML) and artificial intelligence (AI) has revolutionised the predictive analytics landscape. Yet, as we leverage these advancements, the imperative...

As the landscape of the insurance industry undergoes a profound transformation, driven by technological advancements, shifting societal values, and evolving consumer preferences, incumbents are grappling with the imperative to redefine their approach to customer engagement. Today’s insurance customers demand more than just protection; they seek slick and efficient operations, that are personalised and tailored to their exact needs.

Zurich Insurance and Klook have joined forces to introduce FlyEasy, a solution aimed at addressing flight delays by offering lounge access to affected passengers.

Duck Creek Technologies, a leading provider of intelligent solutions for property and casualty (P&C) and general insurance, has launched Duck Creek Payments in the North American market.