Sector Updates

1Fort, an innovative cyber insurance automation platform, has recently achieved a significant financial milestone. The firm, which aims to streamline the cyber insurance procurement process for middle to large businesses and insurance brokers, has secured $2m in pre-seed funding.

As the insurance industry experiences a pivotal shift towards digitalisation, InsurTech leaders emphasise the importance of digital transformation not only to meet evolving customer expectations but also to enhance operational efficiency and foster innovation.

As insurers look to prioritise efficiency and automation, Ushur's Data Transformation Engine   is helping insurers automate data problems and deliver remarkable improvements in business metrics.

Volante Global, an international MGA & Lloyd’s Syndicate specialising in multi-class, multi-territory underwriting, has recently announced the debut of Volante Singapore.

Inigo Insurance, an expeditiously expanding Lloyd’s syndicate specialising in high-risk, high-capacity insurance and reinsurance lines, has announced a partnership with hyperexponential (hx), the creators of the Renew platform. hx is renowned for its platform, which has been widely adopted by several fast-growing specialty (re)insurers and MGAs.

Automotive lifestyle brand Hagerty, recognised as a leading specialty insurance provider for the global automotive enthusiast market, has announced a capital raise of $105m.

Raincoat, a firm tackling the challenge of providing scalable climate insurance solutions, has announced additional seed funding of $6.5m. 

The recent surge in attention towards generative AI and ChatGPT should not be overlooked. This technology has the potential to revolutionise nearly every industry, offering a multitude of people the chance to engage with AI's transformative capacities.

Atlanta-based Accelerant, a company dedicated to empowering specialty underwriters in the insurance industry, has officially launched its Risk Exchange.

Insurance Quantified, a leading commercial property and casualty (P&C) underwriting technology provider, has announced its acquisition of Groundspeed Analytics, renowned for being the market frontrunner in ingestion and data solutions within the commercial P&C industry.