Sector Updates

InsurTech bolt has partnered with global insurance benefits and assistance company International Medical Group (IMG).

Innovation in the insurance industry is not just important, it is essential. A more dynamic market has meant insurers are venturing into non-traditional sectors as well as looking for more advanced ways of serving existing markets. The industry must ramp up its innovation efforts if it is to tackle increasingly threatening risks, such as climate events and cyber-attacks.

Georgia Farm Bureau Mutual Insurance Company (GFBMIC), domestic property & casualty insurer in the state of Georgia, has selected One Inc ClaimsPay digital payments platform to modernise claim payments.

Lemonade, the digital insurance company that leverages AI technology has closed its acquisition of car insurer Metromile.

Swiss InsurTech grape, which calls itself the neoinsurer for employees, has raised CHF1.7 million in a pre-seed funding round.

Mulberri, the embedded business insurance platform for professional employer organisations (PEOs) and brokers, has raised $4m in seed funding.

Natural disasters caused losses of $65bn in the first half of this year alone, with half of these assets uninsured, data from Munich Re has revealed.

Corvus Insurance, a specialty insurance MGA offering commercial insurance products powered by AI-driven risk data, has opened a continental Europe office in Frankfurt, Germany.

Athenium Analytics, a provider of climate intelligence and enterprise risk analytics, has launched a historical tornado data set available through the Esri ArcGIS Marketplace.

hyperexponential, which offers a SaaS pricing platform for insurers, has released a new report on how actuaries can do more with AI.