Weekly Newsletter 27 November: Golden Globes for insurers
Do you know someone whose hard work and brilliance deserves a moment in the limelight? Well, here’s your chance to nominate them for an award.
InsTech is thrilled to team up with the London Catastrophe Modelling Awards for 2025, celebrating the heroes and innovators in catastrophe modelling, climate, property and exposure management.
Winners of the 4th annual awards ceremony will be revealed on 4th March 2025, at Cavendish Venues, The Minster Building, London, as part of our Exponential Risk Conference.
There are 8 award categories, including:
Nominations close 15 January 2025. Further details here London Catastrophe Modelling Awards.
The latest from InsTech
PODCAST: Know your models - Episode 330
From our highly successful webinar last month sponsored by Fathom, we bring to you everything you need to know about flood models in a bitesize podcast.
VIDEO: Beyond Grenfell: Navigating fire risk, cladding and building safety in 2024
Did you miss our webinar last week? Matthew Grant spoke to PriceHubble to explore the complexities of fire risk caused by cladding on high rise buildings in the UK. You discovered what has happened since the Grenfell disaster and how PriceHubble’s database is being utilised for fire risk assessments.
Upcoming events at InsTech
Exponential Risk London 25, 4th-5th March 2025
Join us in March to improve your understanding of catastrophe risk, climate and insured property. With a strong focus on education and collaboration, we’re bringing together the insurers, suppliers and brokers to talk about the issues affecting the industry in 2025 and the tools and data available. Early bird discount ends this week - buy two tickets and get the third free!
WEBINAR: Weathering the Storm: Innovative solutions to provide insurance cover for severe convective storms (SCS), 3 December, 3:00 pm GMT
Severe convective storms (SCS), including tornadoes and hail, have become the largest source of insured losses globally, surpassing hurricanes. Many U.S. insurers face challenges managing these risks, which can impact financial stability and ratings. Join Matthew Grant and leaders from Demex and others to learn about addressing SCS losses with innovative risk transfer options and resilience.
NETWORKING EVENT: Mastering Risk Digitisation: From Business Case to Business Impact, 4 February, 4:00 pm GMT
Join us for an exclusive evening hosted by Cytora, in collaboration with InsTech, to explore strategies for insurers to effectively digitise risk management, from building a business case to achieving measurable business impact. For insurers and brokers only.
News from the InsTech members
Guidewire deepens relationship with Shift Technology
Guidewire has named Shift Technology as a strategic partner to enhance fraud detection and prevention capabilities for insurers, leveraging Shift’s AI-driven solutions to address insurance fraud effectively.
Lloyd’s Market Association publishes extensive report on the future of enhanced underwriting
The Lloyd’s Market Association (LMA), in collaboration with Oxbow Partners, has published a report detailing the evolution and potential of Enhanced Underwriting, highlighting its expected growth, benefits in efficiency and risk selection and associated challenges like algorithmic risks and regulatory concerns.
mea Platform named to Guidewire Insurtech Vanguards Program
mea Platform is part of Guidewire’s Insurtech Vanguards programme. This initiative helps insurers learn about the newest insurtechs and how best to work with them.
Previsico wins a place in Deloitte’s prestigious UK Technology Fast 50
Previsico secured 14th place in the 2024 Deloitte UK Technology Fast 50, recognising the fastest-growing technology companies in the UK.
Federato brings total raise to $80m USD with Series C
Federato has raised $80 million USD in total funding, including a $40 million USD Series C round, to expand its AI-driven RiskOps platform, which streamlines underwriting processes and improves efficiency for insurers globally.
EigenRisk webinar: Lessons learned from the 2024 hurricane season, 4 December, 5:00 pm GMT
EigenRisk is hosting a webinar with Reask and Vave to explore advancements in geospatial analytics for insurance, featuring insights on the latest tools and strategies to manage risks effectively.
Artificial case study on partnering with BMS Group
Artificial partnered with BMS Group to streamline processes and improve efficiency in insurance placements by leveraging Artificial's data-driven platform and automation tools.
KPMG insights: Climate and insurance regulatory capital
KPMG highlights how evolving climate and ESG regulations impact insurers' capital requirements, urging firms to integrate climate risk into their strategies to meet regulatory expectations and enhance resilience.
Chubb and Atome announce regional partnership
Chubb and Atome have partnered to provide insurance products across Southeast Asia, starting with "Bill Secure," which protects through “buy now, pay later” users in the event of permanent disability or accidental death.
S&P Global Market Intelligence report on climate change and extreme weather
S&P Global Market Intelligence has released a report analysing how climate change and extreme weather events are transforming the insurance industry, focusing on challenges such as rising claims, regulatory changes and the need for innovative risk management strategies.
Atrium Underwriters launches Diversified Risk Underwriting Class for 2025
Atrium will launch a Diversified Risk Underwriting Class on January 1, 2025, led by Matthew Greaves, aiming to form strategic partnerships in classes outside Atrium's core focus while complementing its specialty market strategy.
Aon launches Cyber Risk Analyzer
Aon has launched the Cyber Risk Analyzer, a tool that helps clients assess and quantify cyber risks, forecast potential losses and optimise insurance strategies.
Root launches new certified Developer Community programme
Root has launched a certified developer community program to upskill in-house and freelance developers, enabling them to become Root Certified Engineers while enhancing efficiency and scalability in delivering insurance technology projects.
Fadata expands presence with new offices opened in Asia and Latin America
Fadata has expanded its global presence by opening new offices in Malaysia and Peru, enhancing its ability to support insurance clients worldwide and meet the growing demand for SaaS solutions in the APAC and LATAM regions. You can find out more about Fadata in our recent podcast episode with CEO, Liselotte Munk.
Send wants to hear from you for their upcoming report
Send has commissioned a report based on discussions with industry participants and is keen to get input from the InsTech community based in North America. If you are an insurer and would like to take part in a short anonymous survey to share your views on the barriers and priorities in 2025, please contact Sarah Sutton, CMO at Send sarah.sutton@send.technology. Participants will gain early access to the report.
Click here
Lockton Re selects Verisk US agricultural risk models
Lockton Re has selected Verisk’s US agricultural risk models to develop innovative reinsurance solutions tailored for agricultural risks, enhancing risk assessment and management capabilities.
Novidea renews commitment to London Market
Novidea has expanded its presence in the London Market and aims to grow and support more clients in the region.
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