InsTech News: The Partners’ view on 2021

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This week our partners podcast is back, and we’ve released an article discussing how to scale microinsurance products with a new InsTech member. Read on for details of innovation at Brit, partnerships for RMS and Sequel, and expansion at Vesttoo and Archipelago

Click on the headlines for more information. 

Partners’ Chat - New Year Special - Podcast 171

The return of our popular review of the life around us. Not all roses in the world of insurance, insurtech and innovation last year, but Matthew encourages Robin to find some glimmers of hope as we look ahead to 2022. 

Allyship, inclusion and the future of work - Podcast 170

InsTech’s Director of Research and Insight Rebekah Bostan joined a panel hosted by The Camelot Network on how to be an ally in the workplace, what that means, and to share some personal experiences of the benefits of allyship. 

Brit uses machine learning algorithm for US tornado claims

The algorithm has been deployed to identify properties damaged by tornadoes last month. The technology assesses aerial images and data to pinpoint damage, allowing Brit’s Claims team to identify issues and provide faster payments to customers. 

Civil unrest affecting coverage for Middle Eastern and North African businesses

Chaucer Group says protests and riots in the Middle East and North Africa have risen by 45% in the last year. It’s warning that general insurance policies may exclude property damage from riots, with companies increasingly turning to specialist SRCC (Strikes, Riots and Civil Commotion) cover.

RMS to support Tunis Re on flood, terrorism and catastrophe exposure

RMS is to create an exposure and accumulation study for Tunis Re to increase its exposure monitoring and risk management capabilities. The company is one of Africa’s largest reinsurers, with a portfolio covering over 50 countries in the Middle East, Africa and Asia.

Aspen implements Whitespace e-placing platform

Bermuda-based reinsurer Aspen is to use the platform to increase its footprint in the Lloyd’s market. Whitespace, acquired by Sequel last year, enables brokers and underwriters to digitally offer, place and bind contracts. Hear more from Sequel and Whitespace in our ‘Insurance Ecosystems - From Buzzword to Reality’ Live Chat.

Member Spotlight: Micro Insurance Company

InsTech’s Henry Gale speaks to Harry Croydon, Founder and CEO of Micro Insurance Company, about why he started the business and how to sell microinsurance products at scale.

Vesttoo adds former Goldman Sachs MD to Advisory Board

Raluca Ragab has been brought in to support Vesttoo’s plans to scale its insurance-liability investment portfolio and risk transfer and investments platform.

New appointments at Archipelago

Archipelago has appointed Erroin Martin as Chief Revenue Officer and Sarah Mears Kim as Chief Financial & Business Officer. The company is aiming to improve the transparency of property risk data by collating original data sources. We interviewed CEO Hemant Shah on Podcast 145.