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Willis launched FinTech Plus - global insurance solution for fintechs

2 days ago | beinsure.com | Peter Sonner

Willis, a WTW company, has introduced FinTech Plus, a global insurance solution developed specifically for FinTech startups managing operational growth, regulatory demands, and increased risk exposure. FinTech Plus offers a unified structure that addresses a wide range of financial exposures, now including comprehensive Cyber protection. The product simplifies coverage through a single proposal form and contract wording to reduce administrative barriers.
IHC launches AI-based reinsurance platform in Abu Dhabi

2 days ago | beinsure.com | Peter Sonner

Institutional investor IHC announced the launch of a new artificial intelligence-based reinsurance platform, headquartered in the Abu Dhabi Global Market. Although the platform remains unnamed, IHC stated that equity commitments are expected to exceed $1 bn, with additional funding from hybrid and debt instruments. The platform will pursue a buy-and-build strategy, aiming to manage more than $10 bn in initial liabilities.
Lloyd’s invested in cyber insurtech BreachBits

1 week ago | beinsure.com | Peter Sonner

Lloyd’s has invested in BreachBits, a cyber risk technology company founded by former US military cyber warfare professionals. This represents Lloyd’s third investment in a company emerging from its Lloyd’s Lab accelerator, following BreachBits’ participation in the 13th cohort from September to December 2024. During the program, BreachBits tested two products built for the Lloyd’s market: the Cyber Questionnaire Validator and Cyber Pre-Claim Intervention.
ClimateTech Mitigrate secured strategic investment from Lloyd’s

1 week ago | beinsure.com | Peter Sonner

Mitigrate, a climate-focused insurance technology company and alumnus of Lloyd’s Lab, has secured a strategic investment from Lloyd’s, with continued backing from existing investors. Mitigrate offers a SaaS platform that addresses property-level flood risk, targeting both commercial and residential insurance providers. The system helps insurers reduce claims, support environmental objectives, and offer added services to policyholders.
ZestyAI received regulatory approval for Severe Convective Storm suite

1 week ago | beinsure.com | Peter Sonner

ZestyAI, a provider of AI-based insurance risk analytics, has received regulatory approval from the Ohio Department of Insurance for its Severe Convective Storm suite, which includes Z-HAIL™, Z-WIND™, and Z-STORM™. With Ohio added, the suite is now approved in 16 states. Severe convective storms, including hail, wind, and tornadoes, have caused over 57% of Ohio’s weather-related damages since 1980.
MediHelp International launched CoverGo’s health insurance platform

1 week ago | beinsure.com | Peter Sonner

MediHelp International, a market leader in international private medical insurance (IPMI) and private medical insurance (PMI) across Poland Hungary, and Romania, has officially gone live with CoverGo’s next-gen, end-to-end health insurance platform to power its digital transformation and redefine health insurance operations across multiple European markets.
AIaaS insurtech CLARA Analytics announced new subrogation detection capabilities

1 week ago | beinsure.com | Peter Sonner

CLARA Analytics, a provider of artificial intelligence (AI) technology for insurance claims optimization, announced game-changing subrogation detection capabilities that promise to help insurers identify millions in previously missed recovery opportunities.
Lemonade reported a net loss of $62.4 mn for Q1 2025

1 week ago | beinsure.com | Peter Sonner

Lemonade reported a net loss of $62.4mn for the first quarter 2025, up from $47.3mn in the same period last year. The increase was primarily due to losses linked to the January wildfires in Los Angeles and a $6.9mn assessment from the California FAIR Plan, the state’s insurtech of last resort. Operating expenses, excluding net loss and loss adjustment expenses, rose 29% to $127.2mn. This was driven by the FAIR Plan assessment and increased spending on customer acquisition.
Global insured losses could exceed $300 bn in a peak year - Swiss Re

2 weeks ago | beinsure.com | Yana Keller

Swiss Re Institute has warned that insured losses could exceed $300bn in a peak year, underscoring the essential role of the reinsurance sector, which holds $500bn in capital, in absorbing large-scale shocks. While secondary perils continue to generate significant losses, Swiss Re’s latest report emphasizes that primary perils—such as hurricanes and earthquakes—remain the largest threat, with the potential to drive peak-year losses above $300bn.
Verisk launched a catastrophe model designed to assess the SRCC in the U.S

2 weeks ago | beinsure.com | Peter Sonner

Verisk, a data analytics and technology firm, has introduced a catastrophe model designed to assess the financial impact of strikes, riots, and civil commotion (SRCC) in the U.S. This new tool responds to rising insurance losses from recent large-scale civil unrest. The Verisk SRCC Model evaluates risk severity by analyzing social and economic indicators, political conditions, and past protest activity.