Tag: Fintech

Insuritas, a prominent embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance, a company that offers multi-peril disaster insurance coverage.

Akur8, a next-generation insurance pricing and reserving solution, has been selected by leading Spanish insurer Seguros Lagun Aro to streamline its insurance pricing process.

Health insurance plays a critical role in safeguarding individuals and families from the financial burdens of medical expenses, offering essential coverage and peace of mind during times of illness or injury. Traditionally, the industry relied on complex and rigid models, often burdened by lengthy paperwork, slow claims processing, and fragmented communication. However, the health insurance market is projected to reach a remarkable $2.38tn in gross written premiums by 2024, according to Statista. This comes amidst a significant shift towards digital platforms and telemedicine services.

PropEco, a Glasgow-based tech company, recently secured a seed investment of £275,000. The company is known for its advanced technology platform that evaluates the long-term value and viability of properties with an innovative approach.

On July 19, 2024, cybersecurity giant CrowdStrike issued a routine software update. However, this time things went terribly wrong. The update, which was meant to enhance security, ended up causing major disruptions across industries worldwide. The faulty software quickly wreaked havoc on IT systems reliant on Microsoft's operating system, with insurance firm Parametrix estimating $5.4bn in damages were done to Fortune 500 companies alone. Jeff Heine, Chief Revenue Officer of Novidea delved into why this calamity underscores the need for modern, sophisticated insurance management systems.

Optalitix, a specialist in insurance and finance software, has raised $3m in a follow-on fundraising round led by its existing investor, Calculus Capital.

Markel, a global specialty insurer, has launched a cutting-edge cyber insurance policy designed to cater to FinTech firms.

Ebix, a global supplier of on-demand software and e-commerce services across the insurance, financial, and healthcare sectors, has emerged from Chapter 11 bankruptcy.

Earnix, a leading global provider of AI-based SaaS pricing and rating solutions for financial services, has partnered with Hexaware to help insurers improve their underwriting efficiency.

IAT Insurance Group, a specialty property and casualty insurance carrier, has chosen CLARA Analytics, a leading AI-based claims solutions provider, to implement its Claims Document Intelligence Pro (Claims DocIntel Pro) platform.