Tag: Insurance Technology

Key European InsurTech investment stats in 2024: European InsurTech deal activity dropped by 54% YoY UK companies secured a third of the deals as...

Digital insurance broker UpCover, which specialises in commercial insurance solutions, has raised $19m in a Series A funding round to accelerate the growth of its platform.

A recent report by Capgemini highlights that 62% of insurance executives acknowledge AI and machine learning as crucial for enhancing underwriting quality and reducing fraud. However, only 43% of underwriters consistently trust predictive analytics recommendations. This discrepancy raises an essential question: how can AI truly transform underwriting, and what trends are driving its adoption in the InsurTech industry? Custom software development company Symfa investigates.

InsurTech company InsuranceDekho, a platform enabling customers to compare and purchase various insurance products, has announced a new funding round set to raise up to $100m, according to a report from EnTrackr.

Descartes Underwriting has launched a new parametric insurance product to protect US-based utility-scale solar farms from tornado damage, offering up to $70m in coverage.

Weecover, Spain's leading embedded insurance provider, has successfully raised €4.2m in its latest funding round as it sets its sights on international expansion.

US-based R.E. Chaix, a wholesale insurance brokerage firm specialising in multiple property and casualty (P&C) lines, has selected IntellectAI's end-to-end underwriting ecosystem, eMACH.ai Xponent, to enhance its wholesale and managing general agent (MGA) business.

Jove, a London-based InsurTech, has unveiled its innovative Pan-European Business Liability Insurance product.

The Earnix 2024 Industry Trends report revealed that nearly 75% of insurers have hundreds of rules embedded in their underwriting systems, with 18% stating they manage thousands. This overwhelming number of rules can complicate processes and impede efficiency. In response to these stark figures, Earnix is delving into how insurers can address these complexities and streamline their underwriting processes.

Managing insurance submissions is a challenging and time-consuming aspect of the underwriting process. IntellectAI has released a new whitepaper outlining how its Magic Submission...