Sector Updates

InsurTech startup Branch has recently undergone a second wave of layoffs, impacting 85 employees, following a previous cut of employees in June, according to sources from The Coverager.

Vienna-based InsurTech hi.health has bagged €6m in a pre-Series A financing round, as it looks to expand across Europe.

Technology is the cornerstone of the modern insurance sector, yet grappling with technical debt remains a significant challenge for many insurers. Technical debt arises when shortcuts in IT infrastructure accumulate, impeding sustained and robust practices for long-term growth, as Hyperexponential explain.

In an era defined by technological leaps, the insurance industry faces a pivotal juncture: with the opportunity to embrace Generative AI (GenAI) to elevate the customer experience at the forefront of that. FinTech Global had the privilege to speak with Deepti Kalra, Vice President & Head of AI Products & Solutions – Insurance Analytics at EXL, to delve into the crucial facets of GenAI and its transformative potential within insurance. 

Ushur has introduced innovative AI-powered solutions aimed at automating and streamlining the intake process for Group Benefits sales quoting and requests for proposal (RFP).

Akur8, known for its next-generation insurance pricing solution powered by transparent machine learning, has recently announced a strategic partnership with Ohio Mutual Insurance Group.

Roadzen Inc., a global pioneer in AI-driven insurance and mobility solutions, has announced a new Chief Financial Officer (CFO) designed to continue the firm’s expansion.

Blue Cross, a renowned insurance provider trusted across Canada, and Blink Parametric, an innovative Ireland-based InsurTech company, have announced an extension of their partnership...

Riskcovry, a Mumbai-based InsurTech startup, has raised around $4.5m in a bridge funding round.

Majesco, a global provider of cloud insurance software solutions, has recently announced its acquisition of the Decision Research Corporation (DRC) business.