InsTech News: The dawn of the incumbent insurtech

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This week, our implementation guide to algorithmic underwriting in specialty insurance, advice and guidance for MGAs on becoming full stack insurers, and Zego and Aviva partner on fleet insurance.

The climate change risks that can’t be ignored - Podcast 181

Jupiter Intelligence CEO and Co-founder Rich Sorkin joins Matthew to discuss how extreme weather events motivated him to launch the company, using data to understand physical and financial risks, and how to build the right team and products to scale at speed.

Algorithmic Underwriting in Specialty Insurance: An implementation guide in six case studies

Our latest report is out now and focuses on how to implement algorithmic decision-making in underwriting and broking processes. Free for a limited period only, the report examines how algorithmic underwriting has evolved based on insights from early adopters and software providers. Is this the dawn of the age of the incumbent insurtech?

Parametric Insurance - the companies to watch in 2022

Our new report on the parametric insurance companies to watch is scheduled for release in May. If you think your company or one of your partners should be included, then we want to hear from you. Find out more from InsTech’s Henry Gale via the link below.

InsTech in London: From MGA to Full Stack Insurer - Everything You Need to Know - The Steel Yard, 29 March, 5:30pm

A new generation of technology-enabled MGAs has emerged in recent years, with many looking at the next stage of their evolution. Supported by PKF Littlejohn, this event will include advice and insights on what becoming a full stack insurer involves. Details of speakers available below plus a new, simpler way for InsTech members to register.

Member Spotlight: Claim Technology

InsTech’s Ali Smedley caught up with CEO Michael Lewis after he spoke at our last in-person event. They discuss the problems that Claim Technology is looking to solve for insurers, what’s available through the company’s marketplace, and the benefits of using the cloud.

Rebekah returns to The Risky Mix podcast

In the second of two episodes, InsTech’s Director of Research and Insight, Rebekah Bostan, talks about changing attitudes to part-time work, how part-time workers can contribute just as much as full-time colleagues, and tips on how to make the shift.

Aviva and Zego to provide fleet insurance

Usage-based and flat rate policies from Zego will be made available to trades and haulage fleets under the new partnership. Fleet managers will also receive actionable insights through Zego’s fleet portal, which could reduce premiums at renewal if engaged with. 

CyberCube partners with Duck Creek Technologies

CyberCube’s Risk Scoring Analytics API will be integrated into the Duck Creek Policy underwriting platform to help identify cyber vulnerabilities. Risks added to the platform will be automatically scanned and scored by CyberCube technology, with any potential issues flagged for review.

CGI to extend its reach with Umanis acquisition

IT and business consulting service CGI has entered into an agreement to acquire Umanis, a digital company specialising in data, digital and business solutions in France.

Earnix and Majesco target personalised P&C products

The partnership will see the two companies use new sources of data for risk modelling, rating, and pricing to explore new usage-based and behaviour-based products for insurers.

Wrisk announces new US subsidiary

Wrisk USA Corp will be based in Hartford, following the announcement of a new ‘insurtech corridor’ between the UK and Connecticut. Find out more about what Wrisk has to offer from Co-founder and Executive Chairman Niall Barton on Podcast 154.

Chainlink and Etherisc launch grant programme for decentralised insurance

The programme will support the development and adoption of data-driven decentralised insurance products, with a focus on supporting projects that create sustainable, blockchain-based parametric insurance solutions.

Reports worth reading: Moving towards a “predict and prevent” mindset

Arturo’s latest whitepaper explores how climate change is disrupting business practice, lessons that property insurers can learn from motor, and how AI can help mitigate wind and hail events.