InsTech News: 2022 predictions


This week's podcast explores predictions for insurance in 2022 from 16 innovation experts, and we release details about the Insurtech Israel Virtual Showcase UK. Read on for information about InsurTechNY’s Early-Stage Competition, partnerships from Qover, MAPFRE and Tractable, and the latest innovations from MIS and Lloyd’s. 

Predictions for Insurance in 2022 - Podcast 172

What do 16 innovation experts think will happen in insurance over the next twelve months? This week’s podcast, sponsored by Fadata, includes predictions from our panel on investment, mergers & acquisitions, ESG and climate change, operational excellence, cryptocurrency and the Metaverse. Let us know what you think on LinkedIn.

Lloyd’s ‘Product Launchpad’ to replace the Product Innovation Facility

The rebranded Launchpad will explore solutions for non-standard risks, such as risks relating to intangible assets and new technologies, with capacity of £150 million. The Launchpad will be co-chaired by George Beattie, Head of Incubation Underwriting at Beazley, and Chaucer’s Head of Strategy Hayley Maynard. 

Applications open for Lloyd’s Lab Cohort 8

The next Lab cohort is open to start-ups, scale-ups and entrepreneurs addressing challenges around decarbonisation and climate change, supply chain, data & models, and claims (operational efficiency and customer experience). The application deadline is 20 February. 

MIS heads for outer space

McKenzie Intelligence Services is to launch three of its own branded satellites to provide clients with faster and more accurate data on climate events. The satellites are scheduled to be launched aboard the SpaceX Transporter 3 rocket from Cape Canaveral tomorrow (13 January).

Tractable announces two new clients, including MAPFRE

MAPFRE in Brazil is working with Tractable to assess car damage, share recommended repair operations and guide the claims management process. This project supports MAPFRE’s objective of improving the customer experience, with the potential to expand the solution to other countries. Meanwhile, US auto insurance company Root has also announced it is working with Tractable to streamline its end-to-end claims process, beginning with subrogation. 

Qover creates new insurance solution for Monese 

This cover includes all of Monese's paid plans. The protection covers monthly regular bills in case of an accident, sickness or involuntary unemployment, and their purchase protection offers theft and damage insurance on debit card purchases. This can all be managed in-app, and is the first of its kind on the UK market as a response to COVID-19. 

Insurtech Israel Virtual Showcase UK

Our first virtual event of 2022 is in partnership with InsurTech Israel and will showcase some of the most prominent startups from a very active Israeli innovation scene. It will be hosted by Kobi Bendelak, CEO of InsurTech Israel, and feature eight startups each pitching for five minutes. 

InsurTech NY Early-Stage Startup Competition - applications now open

Applications are open and will close on 28 January. Start-ups will be selected as finalists based on their market potential by product, growth opportunity and team. The three winning teams will have the opportunity to split $200,000 in prizes and pitch at the InsurTechNY Spring Conference. 

Italy makes it illegal to ski or snowboard without insurance

People must now have winter sports insurance to ski or snowboard in Italy or will face a €150 fine and have their lift pass confiscated. There are 30,000 ski accidents in Italy each season, and accidents can run into hundreds of thousands of pounds. The insurance must cover civil liability for damages or injuries caused to third parties. 

Nimbla partner with Accelerant

The parties have signed a 5-year deal by which Accelerant will provide Nimbla, the fintech trade credit MGA, with capacity for their core single invoice and limit product and other products they launch in the future.