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InsTech News: ESG insights and the future of parametric

This week, details of the next InsTech Live Chat, our interview with Beazley Digital and have your say on the future of parametric insurance. Descartes and Parsyl target expansion after new investment, plus details of new partnerships for Atrium and FRISS

Click on the headlines for more information. 

ESG – the insurer’s perspective – Podcast 175

Katie Lennon, Head of ESG, UK & Lloyd’s at AXA XL, joins Matthew to discuss how a major insurer is measuring and managing climate impact. The episode covers how ESG differs for business operations and clients, where insurers can have the biggest impact on climate emissions, and climate data opportunities for third parties.

Climate Change Regulation and Measurement – 24 February, 2pm

Our next report, Climate Change Regulation and Measurement, will be released on Thursday 24 February. Matthew will be discussing the findings and the impacts for the insurance value chain in a Live Chat with speakers including Reask CEO and Co-founder Thomas Loridan and Fathom’s Chief Research Officer Oliver Wing.

Descartes Underwriting announces $120m Series B funding

The investment, led by growth equity firm Highland Europe, will be used to support Descartes’ global expansion and exploration of new lines of business. Hear more about the company’s parametric insurance solutions for climate risk from Co-founder Sébastien Piguet on Podcast 165.

Parsyl targets further expansion after Series B raise

Parsyl has raised $25 million in Series B funding to expand its insurance and risk management solutions for essential supply chains. The company, which uses sensor technology to mitigate and insure complex supply chain risks, is also planning to launch a US-based Managing General Underwriter (MGU).

MIC Global receives ‘in-principle’ approval for Lloyd’s syndicate

The new Syndicate 5183, which will begin writing business on 1 April 2022, will allow MIC to provide micro transactional insurance on a global scale to platform businesses and small and medium-sized enterprises. Read our interview with Founder and CEO Harry Croydon below.

Member Spotlight – Beazley Digital

InsTech’s Ali Smedley speaks to CEO Ian Fantozzi and Head of Technology James Wright about how Beazley’s digital business unit is being used to solve problems and how the company promotes responsible business – both internally and externally.

What’s holding back parametric insurance?

Ahead of the latest issue of our Parametric Post newsletter tomorrow, InsTech’s Henry Gale wants to hear your thoughts on solving some of the challenges facing parametric insurance. If you’re involved in the space, this is your chance to share your views through the poll he is running on LinkedIn.

Atrium Underwriters leverage AI to automate property claims

Atrium is to automate initial evaluations of its North American property claims following a trial with Tautona. Its system will categorise proximate cause and make an initial assessment before being adjusted by Atrium’s claims team. A pilot has demonstrated potential for faster processing and greater consistency of decision making.

TD Insurance partners with FRISS to detect claims fraud

The Canadian insurer is adding FRISS’s AI fraud risk scoring product to its fraudulent and suspicious claims detection capabilities. The automated technology from FRISS can assess claims in seconds and reduce the number of false positives.

InsTech members highlighted in latest Financial Times ratings

Congratulations to Deloitte, EY and Capgemini who were included on the FT’s list of the UK’s leading management consultants. Special mention to Oxbow Partners who were also named on the list for insurance, which is based on recommendations from clients and peers.


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