InsTech News: What insurers really care about


This week, find out who is speaking at our next digital and in-person events, 150 InsTech members share their innovation focus areas, plus news from Chaucer, SafeGraph and Endava

Embedded insurance - the next frontier for a serial entrepreneur - Podcast 177

ARMD Co-founder and CEO Devin Chawda joins Matthew on this week’s podcast to discuss building his second company during Covid lockdowns, selling embedded insurance and gathering sensor data to assess risk and pricing. 

Climate Change Regulation and Measurement - 24 February, 2pm

The next InsTech report, Climate Change Risk Regulation and Measurement: 22 companies to know, will be available from 9am on 24 February. Join Matthew, Convex, Fathom, Reask and InsTech’s Ali Smedley in a Live Chat at 2pm to discuss the report’s findings and impacts for insurance.

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

Some of the best innovation comes from collaboration, but how is it done well without compromising competitive advantage? Join us for our next evening event live at CodeNode to hear real-life examples from sponsors Verisk, BeazleyLiberty Specialty MarketsArch, Ascot, Swiss ReSupercede and Claim Technology.

InsTech Insurance Innovation Survey 

Wondering what innovation areas and opportunities insurers really care about? We surveyed 150 of the companies we are working with to find out what their focus areas are for the next 12-18 months. 

Member Spotlight: Synergy Cloud

InsTech’s Tara Allsopp speaks to Director of Technology Tom Burroughs about Synergy Cloud’s products, partnerships and the technologies that he believes are changing the remote claims space.

Chaucer to collaborate with Moody’s on ESG ‘scorecard’ 

The new scorecard will allow Chaucer to measure a client company’s Environmental, Social and Governance (ESG) performance and understand their risk from a stakeholder and enterprise perspective. The output is produced using 158 different metrics, including risk data from Chaucer and risk modelling capabilities from Moody’s, recently enhanced by RMS.

Adding accuracy, precision, and real-time relevancy from location data

Global geospatial data provider SafeGraph examines how using location data can improve risk modelling for general liability, co-tenancy, usage-based and health insurance, and create meaningful customer value. 

Gaia raises $20m and teams up with Beazley, Chaucer and Atrium 

Gaia uses clinical data to predict the number of IVF rounds a couple will need and provides an insurance product that means those who are not successful pay a fraction of the treatment cost. On Monday it announced both the closing of a $20 million Series A funding round led by Atomico and the official launch of the product itself with capacity provided by Beazley, Chaucer and Atrium.

Lloyd’s Lab Cohort 8 - Apply by 20 February 

The next cohort is open to start-ups, scale-ups, or entrepreneurs addressing challenges around decarbonisation & climate change, supply chain, data & models, and claims operational efficiency and customer experience. Cohort 8 also includes a Wildcard for new products that don’t fit into the themes above. 

Vesttoo and Corinthian Re launch VESCOR

The new VESCOR partnership will offer securitised notes to allow investors to take on the risk and returns of a group of insurance policies, with the risk modelling managed by Vesttoo’s AI technology.

Endava joins forces with Business Agility Consulting

Consultants from Business Agility are to help Endava bolster its insurance sector capabilities, with the two companies focusing on implementing software solutions and driving cloud transformation opportunities. Read more about Endava in our interview with SVP Kevin Crawford. 

Wellx partners with INSTANDA on digital health insurance

INSTANDA has enabled Wellx to launch an end-to-end digital health insurance product for individuals, families and SMEs in the UAE. The new product uses real-time activity and wellness data to incentivise healthy behaviours and personalise insurance premiums.