Tag: FinTech 2023

Within the realms of specialty and commercial insurance, there's a heightened focus on precision. These particular markets demand more than just the usual numerical analysis when it comes to policy pricing. For them, pricing is not only a combination of art and science but also a strategic influencer. As the world embraces digital advancements, those who manage to break free from traditional practices dominate the industry.

YuLife, the tech-driven financial force, has partnered with renowned health provider, Bupa, to expand its insurance offerings, reinforcing its commitment to enhancing business health provisions in the UK.

The Lloyd’s 'Principles of Doing Business', launched in 2022, is a comprehensive 156-page framework designed to guide managing agents on the standards of excellence across different facets of insurance - from pricing and underwriting to governance and culture. Yet, with its length and detail, it isn't light reading.

VakıfBank stands as Turkey’s second-largest bank concerning asset size and loans. With a robust approach, the bank provides state-of-the-art products and services for corporate, commercial, and individual banking sectors. Adhering to modern banking standards, VakıfBank is paving the way for a higher savings rate in Turkey.

The Loss Control Maturity Model has transformed the way companies think about their processes, particularly with the introduction of FinTech solutions. Risk Control Technologies has garnered insights from over 150 customers. It has found that the majority of loss control departments could have benefitted from a software platform much earlier than they realised. The primary challenge? Many didn't know where or how to initiate the journey.

Irish FinTech company, Fineos, primarily known for its prowess in the insurance software segment, has impressively clinched a $40m investment to fortify its financial foundation.

The Demex Group, described as the innovators behind unprecedented reinsurance solutions tackling accumulating losses from secondary perils, has successfully garnered an investment of $5m.

Ardonagh UK has appointed former director of regional brokers, strategy and propositions at Aviva, Karen Jackman as commercial MGA sales director. 

Converge Insurance, a leading managing general agent (MGA) specialising in cyber risk management and underwriting, announced its successful raising of $15m in Series A funding.

Allianz Global Corporate & Specialty has joined forces with Allianz Property & Casualty a local insurer providing commercial insurance.