InsurTech

The cyber MGA reported that claims severity increased by 7% to an average loss of nearly $169,000, fueled by business email compromise and other types of attacks.

Mega-round funding accounted for the smallest percentage of total funding since Q1 2020, according to Gallagher Re’s latest Global InsurTech Report.

The business will have insurance management and reinsurance transformer subsidiaries.

Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.

Four of 13 companies selected for the 10th cohort of the Lloyd’s Lab incubator programme will focus on European digital and climate solutions.

In the aftermath of Silicon Valley Bank’s 11th-hour rescue, InsurTech investors have ramped up systemic risk controls across their portfolios amid a tightening funding landscape

Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.

In the Spring Budget, chancellor Jeremy Hunt said he would also look to help the AI sector prosper in the next decade.

At the InsurTech Insights Europe event last week, experts explored how AI is on the brink of being commoditised in underwriting.

The insurance technology provider is expanding across the UK, DACH and France, after it reported a 71% increase in revenue in 2022.

She will be responsible for providing strategic guidance for the organisation.

For InsurTechs, the most significant feature of 2022 is that the narrative around ‘disruption’ seems to be “truly over”, Gallagher Re said.