Sector Updates

Floodbase has partnered with American space tech firm Capella Space Corp. to enhance its parametric flood insurance offering.

NFP, an international insurance broking and consulting firm, has successfully acquired Advanced Insurance Consultants Limited (AIC) to expand its commercial insurance offering.

Amazon has announced the closure of its UK Insurance Store 15 months after its October 2022 launch.

75% of insurance organisations will replace core insurance management platforms by 2025, according to a new global report from Novidea. 

The Lloyd’s Market Association (LMA) has unveiled its strategic focus for 2024, highlighting the core priorities for the upcoming year.

Root Platform, the innovative low-code, end-to-end insurance technology platform provider, has announced a new addition to its leadership team.

AgentSync has revealed the launch of its first commercially available ProducerSync API for carriers, MGAs, and agencies.

InsurTech Ansel, formerly known as Brella, has successfully raised $20m to expand access to the simplified supplemental insurance market. 

The FinTech landscape has witnessed remarkable evolution over the years, with advancements in Artificial Intelligence (AI) driving significant transformation. One noteworthy segment of this evolution is Intelligent Document Processing (IDP), which has recently given way to the emergence of a $5bn-plus market known as Intelligent Document Processing (IDP). Customer Experience Automation (CXA) firm Ushur explores whether it may be time to leave the traditional methods behind.

In the fast-paced InsurTech realm, gaining insights from diverse markets is an invaluable opportunity; one not to be missed. Mike Scott, Sales Manager at Novidea, shares his insightful trip to the InsurTech Insights Asia conference in Hong Kong, shedding light on the challenges and opportunities within the Asia-Pacific insurance landscape.