InsTech News: Live events are back

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This week, the return of InsTech in-person events, details of our next industry report and new research from JBA Risk Management and Fathom highlights increased UK and US flood risks. 

Click on the headlines for more information. 

What really matters - the investors’ view - Podcast 176

Ruth Foxe Blader and Matthew Jones from Anthemis join Matthew to discuss what to expect in the investment space in 2022. They discuss the performance of publicly-traded insurtechs, opportunities attracting investors right now and what Anthemis looks for from founders and companies. 

Climate Change Regulation and Measurement - 24 February, 2pm

Our next report - Climate Change Regulation and Measurement - will be published on Thursday 24 February. Matthew will discuss the findings and impacts for insurance with Reask CEO and Co-founder Thomas Loridan, Fathom’s Chief Research Officer Oliver Wing, Head of Sustainability at Convex, Rachel Delhaise and InsTech’s Ali Smedley.

InsTech in London: Collaborate to Compete - The Benefits of Ecosystems and Partnerships - 2 March, 5:30pm

InsTech’s in-person events return next month with a look at how competitors are working together on shared technology solutions, defining data standards and expediting claims. The event features speakers from sponsors Verisk, plus Beazley, Talbot, Liberty Specialty Markets, Arch, Ascot, Swiss Re, Supercede and Claim Technology.

InsTech in conversation with… Maura Feddersen, Swiss Re

We interviewed Maura Feddersen, a behavioral economist at Swiss Re, to understand how underwriters are enhancing the accuracy of their predictions by counteracting the effect of cognitive biases and where human expert judgment will remain superior to algorithms.

New JBA model highlights scale of UK flood risk

One in four UK properties are at risk of flood, according to analysis from JBA Risk Management. Its new UK Flood Model suggests the estimated annual cost of flood damage to UK residential properties is £527 million, which could rise to £1.9 billion without flood defenses. 

Climate change to increase US flood damage by 26% over next three decades

New research from Fathom shows that climate change is increasing flood risks faster than expected. Factoring in population growth, Fathom says US flood losses could be four times higher than the climate-only effect. 

ICEYE raises $136m in Series D funding round

The new capital will be used to expand ICEYE’s natural catastrophe solutions and develop its satellite constellation and technology. Find out more about ICEYE’s work from CEO and Co-founder Rafal Modrzewski on Podcast 167. 

CoreLogic partners with Openly on home insurance claims 

Openly customers will now have access to Corelogic’s claims management platform, Claims Connect. The cloud-based platform offers end-to-end workflow management and enables policyholders to manage property restoration challenges more efficiently and accurately.

Arch backs new crypto insurance product at Lloyd’s

Crypto insurance start-up Evertas has become an approved coverholder at Lloyd’s, sponsored by Arch Insurance. Arch will provide capacity for crypto wallet insurance coverage. You can learn more about crypto wallet coverage in our recent report, “Demystifying Crypto: the insurance opportunities and challenges”.

And finally… “pretty colours and confusion” 

Insurance innovation didn’t just begin with the birth of insurtech. Take a look at this clip from the early 90s featuring Atrium CIO Justin Emrich using map data to better understand UK subsidence risk. More on subsidence and other ground risks from our interview with Dr Tim Farewell of Terrafirma coming soon.