Sector Updates

HoneyQuote, a digital insurance marketplace, has partnered with First Connect Insurance Services to grant thousands of independent agents nationwide the ability to seamlessly write policies in Florida

Arthur J. Gallagher & Co. has officially entered into a definitive agreement to acquire Cadence Insurance, Inc., in a bid to enhance their presence in the southeastern and Texan markets.

There's been a noteworthy shift within the insurance sector. The catalyst for this shift? The ever-growing importance and sheer volume of data.

The firm recently announced a successful funding round amounting to €7.6m ($8m). Leading the investment was the French mobility fund, Shift4Good.

Insurance firm QBE Canada has recently linked with Novidea, renowned for its cloud-based insurance management platforms.

The insurance industry relies heavily on efficient data communication, and two key terms, the Core Data Record (CDR) and the Market Reform Contract (MRC), play significant roles in standardising this communication. While distinct, both concepts contribute to insurance processing and documentation, streamlining operations in the sector.

Israeli InsurTech Vesttoo has requested more time from the creditors in their Chapter 11 bankruptcy case, as it still believes it can produce a "value-maximising transaction".

White Mountains Insurance Group, Ltd. is set to acquire a majority stake in Bamboo Ide8 Insurance Services, LLC Bamboo, a managing general agent (MGA) specialising in the California homeowners insurance market.

bolttech, a rapidly expanding international InsurTech, has announced the acquisition of Digital Care, a leading embedded protection provider hailing from Poland.

In today's fast-paced digital landscape, streamlining insurance processes is a top priority for both insurers and insureds. One significant aspect of this transformation is simplifying document submissions. Allowing insureds to scan and submit documents online via a web portal not only saves valuable time but also increases automatic processing rates. Scanbot SDK explores the implementation of this feature using a Web SDK (Software Development Kit) for document scanning.