InsurTech
-
The new trade organization seeks to promote responsible use of technology, collaborate with regulators on consumer protection and make insurance more available, affordable and accessible. -
Oliver Bäte joins Bret Johnson, CFO of SpaceX, and Coalition co-founders John Herring and Joshua Motta on the board of directors.
-
Panellists said that key benefits from AI could be in interpreting documents and even helping to mitigate softening market conditions.
-
This is Burton’s last earnings call as the reinsurer’s CEO, as the firm recently appointed TransRe’s Greg Richardson to succeed him effective January 1.
-
Under the agreement, reached late on Monday, Vesttoo would sell its assets in a transaction that would close by December 1, 2023.
-
Increased private investments by (re)insurers have been a “theme of the year” according to Johnston, who described the year as “one of consistency.”
-
In a motion filed Friday, the trustee requested to convert Vesttoo’s Chapter 11 case to Chapter 7 so that “an independent fiduciary can wind down the debtor’s affairs and avoid significant administrative costs”.
-
Earlier today, in a bid to accelerate liquidation, the company’s unsecured creditors requested early termination of the exclusivity period granted Vesttoo to develop a reorganization plan.
-
Doing so would save “at least $8.5mn in cash” based on the firm’s monthly operational expenditures, according to a recent motion.
-
The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.
-
The additional investment makes this the largest ever Series B round for an InsurTech, according to the firm.
-
The capacity deal is slated for deals with 10/1 effective dates and beyond.
Most Recent
-
Gallagher launches insurance brokerage in Taiwan
01 December 2023 -
The Week in 90 Seconds: CFC probe; Stamp capacity; COP28
01 December 2023 -
Lloyd’s plans 11% 2024 premium growth to £60bn
30 November 2023 -
Severity is the ‘major driver’ in R&W losses: Euclid Transactional
30 November 2023