Sector Updates

Cytora, a leading digital risk processing platform, has formed a strategic partnership with Xapien, an innovative company known for its AI-powered due diligence capabilities.

Walnut, an innovative company in the insurance distribution sector, has successfully closed a $4.6m funding round.

Merchants Insurance Group, a prominent mutual insurance company headquartered in Buffalo, has chosen Kalepa’s Copilot underwriting platform to significantly bolster its commercial underwriting capabilities.

Cresso Health, an emerging InsurTech firm specialising in sales and marketing solutions for health insurance carriers, has officially launched its operations in the United States.

AA Underwriting Ltd, a prominent motor insurance provider in the UK, is deepening its collaboration with Percayso Inform, an insurance intelligence provider, to enhance its data enrichment capabilities.

Leading specialty Managing General Agent Nexus has announced the appointment of Seline Low as its new deputy head of accident & health (A&H) reinsurance for Asia.

Despite the U.S. leading the world in per capita spending on maternity care, it paradoxically has some of the highest rates of adverse pregnancy outcomes among high-income nations. The CDC reports that maternal mortality is on the rise, with nearly 84% of pregnancy-related deaths considered preventable. The U.S. Department of Health and Human Services (HHS) suggests that comprehensive care navigation models could significantly reduce maternal morbidity and mortality rates by up to 50% and 20%, respectively, highlighting the crucial need for innovative approaches such as digital care navigation for expectant mothers.

Artificial Intelligence (AI) is revolutionising the insurance sector by enhancing underwriting, claims processing, customer service, and product development. The technology has already shown its value in automating manual tasks, improving risk assessments, detecting fraud, personalising customer interactions, and enabling predictive pricing.

Chaiz, an Austin-based marketplace for extended car warranties, has raised $3.7m in seed funding as it looks to expand its coverage options.

Whitespace, the fully digital e-trading platform and Verisk business, has launched new library and contract builder capabilities.