Operations/tech

Often regarded as the destination for tech start-ups, IPOs no longer have the same attraction for UK InsurTechs, due to market volatility and the performance of their listed US counterparts.

Chaucer CEO John Fowle also set out to Insurance Insider the rationale for the carrier’s new ESG scorecard comprising 158 data points.

Reid Stanway will support and influence London market firms’ digital transformation strategies.

In the last two days of a consultation on the new iMRC template, the volume of responses surged by more than 2,500, leading to a revised timeline for its launch.

After a widespread drop in InsurTech funding, all signs point to a period of M&A among InsurTechs either struggling to raise funding or seeking a partnership with an incumbent.

Sources told Insurance Insider that unusual activity was the result of an update to some of Lloyd’s systems, however the Corporation declined to comment on speculation.

UK insurers have now paid out £1.2bn in final settlements for claims relating to pandemic closures.

London Market Group chair Matthew Moore has set out the aims of a campaign to pro-actively engage with universities and schools to broaden the industry’s talent pool for recruitment.

Adoption of the core data record and intelligent market reform contract (iMRC) will be fundamental to the success of the Blueprint Two modernisation programme.

Lloyd’s has postponed milestones against work on specifications for a new digital gateway and the build of a proportional treaty system.

LIMOSS and Vitesse will deliver the claims service, which is part of the Blueprint Two reforms, and are offering discounts to syndicates signing up in H1 2023.

Cohort 9 of the start-up accelerator programme includes a provider of a parametric loan default product, a parametric BI offering and an embedded insurance specialist.