Sector Updates

Woodruff Sawyer, a US insurance broker, is expanding its East Coast presence with the addition of six members formerly with Acrisure’s Construction and Commercial Risk Practice.

Clearcover, the next-generation car insurance company, has announced the launch of its revolutionary generative AI solution.

+Simple, a European insurance distribution platform for small businesses, has announced the acquisition of OM Suscripción de Riesgos, a Spanish underwriting agency specialising in surety insurance and owned by Grupo Morera y Vallejo.

Web Connectivity Limited (WCL), a subsidiary of Zywave, has agreed a deal to supply ACORD4ALL mappings to Velonetic in support of Blueprint Two adoption in the London Market.

Scanbot SDK and Cypher Robotics have announced a strategic partnership aimed at enhancing warehousing and inventory processes across various industries.

Underwriting has often been considered as the bedrock in which insurance policies are built upon. Coupled with a rigid loss control strategy, these tenets make up the heartbeat of the insurance industry, shaping its trajectory and resilience in the face of evolving challenges. A host of insurance industry experts delved into the changing roles of underwriting and loss control and discussed the future of risk engineering.

Blink Parametric and Zurich Insurance in Asia Pacific have teamed up to offer a flight delay solution that will provide customers with real-time flight delay benefits.

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.