Insurtech Insights

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Bold Penguin, the insurtech software specialist, has announced the addition of certain capacity offered through RT Specialty, a leading wholesale distributor of commercial excess and surplus (E&S) insurance products and services, to their Terminal carrier panel. Across the industry, E&S submissions are increasing double-digits, year-on-year. The partnership addresses this growing demand by providing agents with more tools in an increasingly complex risk environment. Will Jacob, Chief Underwriting Officer at RT Specialty, said: “At RT Connector, we are constantly looking to innovate and adapt to market needs. This collaboration allows us to do that by providing a platform to distribute our products and expertise through an automated digital channel." Nicole Farley, Bold Penguin’s VP of Carrier Operations, commented: “Our team received strong feedback from our customer base on the importance of integrating RT Specialty, and we are thrilled to share the exciting news that this has come to fruition. Our agents can now receive online quotes for standard and E&S lines through the Bold Penguin Terminal in just minutes.” Read the full story here 👉 https://lnkd.in/efrxMNSp #InsurtechInsights #InsuranceNews

AKUR8, a next-generation insurance pricing solution powered by transparent machine learning, has announced a new partnership with Millennial Specialty Insurance, LLC (MSI), one of the largest non-carrier-affiliated managing general agencies in the United States. “This partnership also demonstrates the relevance and attractiveness of Akur8’s solution for innovative insurance providers within the P&C market,” stated Samuel Falmagne, CEO at Akur8. Brune de Linares (Garnier) de Linares, Chief Client Officer at Akur8 also commented, saying: “Partnering with a successful company like MSI serves as an example that Akur8 is a premier pricing solution for all sizes of insurance companies across all lines of business.” “We are excited to collaborate with Akur8 to enhance our risk and rate modeling capabilities,” added Fan Feng, Predictive Modeling Manager, MSI. Read the full story here: 👉 https://lnkd.in/eCFqQc6H #insurtechinsights #insurance #pricing #insurtech #partnerships

Artex Risk Solutions, a subsidiary of Gallagher, has introduced its first Vermont Protected Cell Company (PCC). PCCs create a communal platform where multiple organisations can engage in distinct risk transfer activities under a legal umbrella. Each cell functions like a conventional captive insurance entity but has a leaner setup, operation, and termination process. Additionally, each company’s assets and liabilities are protected by statutory provisions and contractual agreements. Jennifer Gallagher, (pictured) CEO of Artex North America, commented: “PCCs have been one of the most important evolutions in the captive insurance marketplace in recent years, and we are thrilled to serve clients through our latest Artex Axcell PCC.” Barry White, Sales, Analytics and Advisory for Artex, North America, reflected: “With Vermont now established as the largest captive domicile globally, we selected Vermont as part of our US onshore strategy, but also to complement our global offering.” Read the full story here 👉 https://lnkd.in/gKbrPvUQ #InsurtechInsights #InsuranceNews

Shea McNamara, Co-founder and Head of Sales for the AI-driven insurtech Limit at Insurtech Insights USA 2024, describes his co-founder journey and the experience of launching and raising investments for a startup during COVID. He says, "We learned that the wholesale business was very antiquated and analouge - so very slow, so we built Limit to bring a modern, digital, data focuseed approach, with speed and efficiency." #insurtechinsights #insurtech #insurance #ai

QBE Insurance has launched a new product, QCyberProtect, a comprehensive and globally streamlined cyber policy designed to bolster cyber resilience for clients worldwide. QCyberProtect is available for a variety of organisations, ranging from mid-sized companies outsourcing their IT departments to global corporations with complex large-scale IT systems. Andrew Horton, Group CEO of QBE Insurance, commented: “Strategic investments in our cyber capabilities have strengthened our ability to shield our clients from the most pressing cyber threats. This offering highlights our commitment to delivering globally consistent and practical solutions that address the ever-evolving cyber risks our customers face around the world.” Serene Davis, QBE Global Head of Cyber, added: “QBE’s global cyber policy is supported by a network of highly skilled cyber experts and strategic partners to ensure world-class coverage and service. We are providing our customers with the comprehensive coverage and services they need to navigate end-to-end cybersecurity issues.” Read the full story here 👉 https://lnkd.in/e5NWRdWg #Cyber #InsurtechInsights #InsuranceNews

Women don’t ask for promotions as often as men, and as founders, face more stringent questioning from investors about their end goals, according to a group of expert panelists moderated by Insurtech Insights USA President, Megan Kuczynski .  The Women’s Leadership Congress, which recently took place at Insurtech Insights USA 2024 in New York, saw Sabrina Hart, President and CEO of Munich Re Specialty - North America, Casey Kempton, President, Personal Lines at Nationwide and Margeaux Giles, CEO and Founder of IRYS Insurtech discuss a range of topics related to female advancement in the insurance industry. Read the full report here: 👉 hhttps://lnkd.in/eAzUnF8t #insurtechinsights #insurance #diversity #womeninleadership #munichre #nationwide #irys

GCube Insurance, a specialist underwriter in the renewables sector, has announced the establishment of a new consortium designed to provide battery energy storage system (BESS) developers and asset owners with up to $100 million of “A-Rated” Insurance Capacity. Fraser McLachlan, (pictured) Founder & CEO of GCube Insurance, stated: “We have been studying developments in BESS and patiently increasing our capacity over the last 12 years. Our BESS consortium now formalises our significant commitment to the sector." "BESS has reached a point of maturity where more and more capacity is required, but the complexity of mitigating losses with evolving technology also requires this capacity to be well-versed in handling claims and selecting risks. This is the basis for GCube expanding its presence in the sector.” Read the full story here 👉 https://lnkd.in/eTvcRnZ5 #InsurtechInsights #InsuranceNews #RenewableEnergy

Lemonade, the digital AI-driven insurtech company, has announced the launch of a new Buildings and Contents Insurance policy in the United Kingdom. This new offering extends Lemonade’s home insurance services, enabling homeowners across the UK to purchase extensive coverage for their homes and personal belongings. Since its UK launch in October 2022 and becoming a PRA-licensed carrier, Lemonade has rapidly grown in the market. The new Buildings and Contents Insurance, combined with Lemonade’s ongoing partnership with Aviva, is expected to further accelerate this growth. Daniel Schreiber, (pictured) CEO and Co-Founder of Lemonade, stated: “The UK has proven to be an exciting market for us with a large digitally-savvy population who appreciate an easy, personalised experience. Growing our home insurance offerings this quickly is a tribute to our incredible team and our thriving partnership with Aviva.” Read the full story here 👉 https://lnkd.in/eJz5C-ZG #InsurtechInsights #InsuranceNews #ProductLaunch

Kennedys IQ and Vested Impact have announced a partnership to advance the use of ESG data in the insurance industry. This collaboration addresses the growing need for integrating external data to support underwriting, claims, and risk and compliance functions, as well as corporate supply chain management. Kimberley Abbott, (right) Founder and CEO of Vested Impact, expressed enthusiasm about the partnership: “We’re thrilled to collaborate with Kennedys IQ to provide actionable activity-level and market-specific ESG and impact insights. Together, we aim to foster a more sustainable and resilient insurance ecosystem. This partnership enhances our mission of driving actionable decision-making on social and sustainability issues within the financial services sector.” Karim Derrick, (left) Chief Product Officer of Kennedys IQ, stated: “ESG is no longer a mere trend, it’s a powerful force reshaping risk assessment, corporate governance and sustainability. We’re so pleased to be working with Vested Impact on driving the use of improved ESG data, it is an exciting and complementing feature to the Reputation Advisor project, a future feature of the IQ Platform.” Read the full story here 👉 https://lnkd.in/e9JmuE9N #InsurtechInsights #InsuranceNews #Climate #ESG