New US sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country, according to a July 13 Reuters report citing chairman Bruce Carnegie-Brown.
Insurtech startup Digital Risks, a digital-only insurance broker has raised £2.25m in an investment round led by Concentric, with participation from Atami Capital, Seedcamp, London Co-Investment Fund and Beazley.
UK insurtech firm iXledger has launched a blockchain insurance product in partnership with a London-based broker operating in the international specialty insurance markets.
Tokio Marine Kiln (TMK) has entered into a partnership with NTT DATA UK to develop robotics services.
Small business insurer Next Insurance has raised $83 million as it targets to expand operations.
Specialist re/insurance market Lloyd’s has launched a new digital distribution platform designed to quickly and efficiently connect insurance businesses and entrepreneurs with Lloyd’s underwriters.
Property/casualty insurer Chubb has become an industry association member of the Blockchain in Transport Alliance (BiTA).
MTech Capital has completed the initial closing of the firm’s insurtech venture fund with $75 million of capital commitments from three anchor investors including CNA Financial Corporation, NN Group, and a global insurer.
US-based insurtech startup OnRisk has formed a strategic partnership with independent Lloyd's broker AFL to develop new technology for structuring and placing property & casualty (P&C) risk.
The US cyber insurance premiums expanded 37 percent year on year to $1.84 billion in 2017, according to Aon’s US Cyber Market Update report.