Mphasis and Ardonagh partner to augment digitalization of insurance intermediary sector

Key Signals in Insurance

The Ardonagh Group & Mphasis expand digital transformation efforts 
The Ardonagh Group and Mphasis, an IT solutions provider specializing in cloud and cognitive services, have agreed to set up a shared service entity for middle and back-office functions while applying the digital transformation. Read More>>
Ecclesiastical Insurance Group selects a new provider CoreLogic to support claims operations 
Ecclesiastical has agreed with CoreLogic to use its digital claims platform to augment its property claims operations. CoreLogic is a global property information, analytics, and data-enabled solutions provider. Read More>>
West Bend Mutual Insurance announces strategic partnership with CogniSure AI to automate submission intake of commercial underwriting
The agreement modernizes the partners’ long-term cooperation model and accommodates OP’s new ICT operating framework. The partnership model ensures the continuity of services and ongoing smooth cooperation with IT suppliers supporting the digitalization of OP’s business-critical processes. Read More>>
Sensely announces partnership with Krungthai-AXA Life Insurance 
Sensely partnered with Krungthai-AXA Life Insurance, a Thailand-based carrier providing health insurance to approximately 500,000 members. It highlights Sensely’s groundbreaking conversational AI interface, which utilizes a combination of voice, chat, and avatar-based interaction. Read More>>
Mergers and Acquisition 
Brown & Brown, Inc. announces the asset acquisition of HARCO Insurance Services and HARCO Financial Services 
Brown & Brown Lone Star Insurance Services, Inc., a subsidiary of Brown & Brown, Inc., has acquired all of the assets of HARCO. With the acquisition, HARCO will continue operating from their existing Houston, Texas office as a branch location of Brown & Browns Houston, Texas retail operations. Read More>>
Apollo completed a merger with Athene, lifting the market cap to USD 43 Bn 
Apollo merged with life and retirement reinsurance company Athene Holding Ltd., creating a company with an implied market capitalization of around USD 43 Bn. Read More>>
Sonae sells insurance arm to UK firm Ardonagh, raises USD 100 Mn banking & finance
Sonae and Brazil’s IPLF Holding, which jointly controls MDS, have signed an agreement to sell 100% of this risk and insurance advisory group to Ardonaugh Group, the UK’s largest independent brokerage group. Maia Group ensures that there will be no impact on the consolidated revenue or the consolidated EBITDA of Sonae with this process. Read More>>
Executive Movement
Frost Insurance names new Tarrant County Market President 
Frost Insurance announced that Jim Dickenson, who has been with the company for 17 years, has been named the market president for the Tarrant County region. Dickenson has served as a senior vice president with Frost Insurance in Tarrant County. Read More>>
Tokio Marine appoints new CEO for Asia region 
The company appointed Mr. Masahito Hirai as Chief Executive Officer of Tokio Marine Asia Pte. Hirai was most recently the Deputy Chief Executive Officer of Tokio Marine’s Malaysia general insurance operations. He was deeply involved in strategic business planning, HR talent development, and corporate management. Read More>>

Latest Industry Insights from Draup Braindesk



Key Funding Alert

PB Fintech to invest up to INR 700 crores (USD 93 Mn) in Policybazaar Insurance Brokers 
PB Fintech will invest INR 250 crores (USD 33.58 Mn) in Policybazaar, a wholly-owned subsidiary of PB Fintech. The PM Fintech board will invest INR 229.99 crores (USD 30.89 Mn) to build digital capabilities and infrastructure through deeper partnerships with large banks like Axis Bank. Read More>>

Startup Spotlight

Company – Thinksurance 
Total Funding – USD 19.21 Mn
About: Thinksurance is a technology platform for business insurance in Germany and France. It connects insurers, distributors from several sales channels, and business customers on its platform. It leverages its proprietary technology to simplify the process, e.g., with several APIs to distributors’ CRMs and insurer systems. Read More>>

Latest Reports Published in Draup

Manulife Financial Corporation Account Intelligence Report: Manulife focuses on developing digital transformation and healthcare services to expand the business. It is keen to enhance life insurance solutions, digital health platforms, fitness apps, critical illness plans, and savings plans. Read More>>
Arch Mortgage Insurance Account Intelligence Report: Arch Mortgage Insurance is implementing innovative researchers to design and deliver a full range of integrated multi-asset investment solutions tailored to the needs of each client. It focuses on IoT, AI, ML, and Cloud to enhance its digital selling for insurance operations. Read More>>

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