Tag: Insurance

Pekin Insurance, an Illinois-based multi-state property and casualty (P&C) insurer, has announced that it has implemented the Guidewire InsuranceSuite on Guidewire Cloud to power its core business.

Cake, a transactional marketplace tailored for independent insurance agents, has successfully concluded a pre-seed funding round, securing a $1.3m investment.

The CareVoice, a global leader in embedded health solutions, is delighted to announce the appointment of Simon Guest as Chief Commercial Officer and member of its Leadership team.

Actuaries, often dubbed as mathematical risk managers, play a pivotal role in the insurance industry. Their expertise in quantifying and managing risk is essential for insurers in a market where financial responsibility for potential negative outcomes is traded. However, determining the cost of this responsibility isn't a straightforward task; it involves estimating expected losses akin to manufacturing costs for tangible goods. Yet, setting a price demands more than just knowing costs; it requires calibrating profit margins to market realities and consumer behaviours. InsurTech Quantee delves into the intricate process, known as price optimisation.

Verisk, a leading global data analytics and technology provider, has introduced an automated Generative AI tool which has been designed to support faster insurance claims processing.

MediConCen Limited, an InsurTech company specialising in automating insurance claims using AI, has raised $6.85m in a Series A funding round. 

Corvus Insurance, a leading cyber underwriter driven by a proprietary AI-driven cyber risk platform, has introduced a newly expanded Tech E+O product which aims to meet the evolving needs of the market.

In an era defined by rapid technological strides, the insurance industry stands on the cusp of an extraordinary evolution, heralding a new dawn through the prospect of a digital transformation. Amidst this profound change, the sector has emerged as a haven of innovation, embracing a digital metamorphosis that promises a new beginning in the space.  

Artificial Labs, a leading algorithmic underwriting InsurTech, has successfully concluded an £8M Series A+ funding round, marking a significant milestone in its growth trajectory.

The carbon credit insurance market could reach $1bn by 2023, according to a new landmark report from Oxbow Partners and Kita.