Aditya Birla to pump capital into its insurance arm to aid further digitalization

Key Signals in Insurance

Merger and Acquisition
Ardonagh Group completes the acquisition of Klap Verzekeringsmakelaar
Ardonagh Group acquired Klap Verzekeringsmakelaar, an Amsterdam insurance broker specializing in business insurance. The purchase fits Ardonagh’s goal of growing and expanding into new markets. Read More>>
Executive Movements
Brown & Brown appoints two to information security positions
Barry Hensley will be the CSO at Brown & Brown Inc., and Rob Burch will be the CISO. Hensley comes from Secureworks, and Burch worked at Fidelity National Financial, where he learned a lot about information security programs. Read More>>
Frankenmuth Insurance names Curtis Williams VP
Curtis Williams was named Vice President of Frankenmuth Insurance. He has been with the company for 27 years and was the Director of Technical Services. Williams has a Bachelor of Science in Computer Science and Mathematics. Read More>>
Stewart Title appoints Southeast agency area manager
Stewart Title said Ross Bridges would join them as Vice President and Agency Area Manager for the Southeast District. He will be responsible for sales in North Carolina, South Carolina, and Georgia. Bridges has previously worked in senior positions in the national agency division. He has a lot of experience with sales strategy and building relationships. Read More>>
Product Launch
ERS and Acturis team up on full-cycle API car products for brokers
Acturis and ERS have made an API-based car insurance product available on the Acturis platform. This product replaces the older EDI messaging. The new ERS Car system replaces the old EDI products, which gives brokers access to real-time, enhanced pricing for new business, changes, and renewals. Read More>>
Sampo’s new website launched
Sampo renewed its website, making it easier to use and better for users. The updated site gives investors, analysts, and members of the media important information about Sampo, such as financial numbers, the company’s strategy, and a glossary of terms. Read More>>
Financial and Market Activity
Guidewire announces third quarter fiscal year 2023 financial results
Guidewire reported third-quarter fiscal year 2023 revenue of US$ 207.5 Million, a 5% increase from the same quarter in fiscal year 2022. The GAAP loss from operations was US$ 57.8 Million, compared to US$ 62.4 Million in the same period last year. The non-GAAP loss from operations was US$ 12.2 Million, down from US$ 24.9 Million in the previous year’s quarter. Read More>>

Latest Industry Insights from Draup Braindesk

Key business priorities
  • Prudential plc intends to make insurance more accessible by broadening the concept of family, allowing customers to nominate a wider range of family members who are financially dependent and included in a life insurance policy. 
  • Prudential plc focuses on life and health insurance solutions in Macau through its digitally enhanced agency force. These solutions include multi-currency options for customer savings, healthcare, and protection. 
Global presence
  • London, United Kingdom, is the key hub area focusing on Software Testing, Cloud Computing, Application Development & Maintenance, and Data Engineering related engagements.
Outsourcing engagements
  • Software testing is the highly outsourced segment. TCS is the key strategic outsourcing partner for Prudential Plc.
Future focus areas
  • Enhanced Healthcare and Insurance Facilities are key opportunity areas for service providers. Prudential plc focuses on developing Pulse, an in-one app powered by AI to provide users with access to services to help better manage health needs and digital wealth tools to simplify financial decisions.

Key Funding Alert

Aditya Birla Group to invest INR 1,250 Cr (US$ 151.3 Mn) in Aditya Birla Capital
The funds raised will strengthen the capital base, improve solvency margins, and support growth and funding requirements. ABCL plans to invest in specific businesses, technology, IT infrastructure, and digital platforms. Read More>>

Startup Spotlight

Company – Bequest
Total Funding – USD 2.54 Mn
About: Bequest is a will and life insurance platform. The company’s platform automates savings, connects users to advisors, and manages plans, including pay-as-you-go life insurance plans, in a single dashboard. Read More>>

Latest Reports Published in Draup

AXA XL Account Intelligence Report
AXA XL focuses on the insurance group as an extension of the insurance group’s travel insurance policies. It focuses on an agile platform for assessing the risk of natural disasters through local processing, automation from IoT, smart devices, and storage infrastructure for insights. Read More>>
Brit Group Services Account Intelligence Report
Brit Group Services develops low-code platforms that let users build programs using a graphical user interface and drag-and-drop components. Its Brit Cyber Attack Plus (BCAP) is a cyber product designed to protect from the consequences of physical injury caused by cyberattacks. Read More>>
Here’s what’s new on our Sales Intelligence Platform
Introducing Outsourced Workloads and Tech Stack Developer filters in Universe
  • Effortlessly filter companies based on their outsourcing engagements using the new Outsourced Workloads filter in Universe.
  • Filter Accounts in Universe based on the Tech stack they use that is developed by specific developer companies.
View All Updates
Copyright © *|CURRENT_YEAR|* Draup, All rights reserved.

We are located at: *|HTML:LIST_ADDRESS_HTML|* *|END:IF|*

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.