Tokio invests in ICEYE to start utilizing its satellite services for new insurance solutions

Key Signals in Insurance

California Casualty Management Company selects Guidewire Cloud to enhance the customer experience for business growth 
Moving to the cloud will provide them with the flexibility to accelerate their digital initiatives, increasing customer satisfaction and making their experience deeper and richer. Read More>>
Swiss Re’s iptiQ and WiZink partner to offer digital insurance solutions
The company entered a bancassurance deal with digital bank WiZink to design over ten Life & Health and Property & Casualty insurance solutions for clients in Spain and Portugal. An announcement on the deal states that the ambition of digital bank WiZink is for its insurance arm to become a leading digital insurance operator in the two countries. Read More>>
Iceye solidifies investment, tech partnership with insurance company Tokio Marine
Tokio Marine’s investment is structured as a collaborative partnership. The two companies said they would develop initiatives to facilitate the digital transformation of insurance claims capabilities.  Read More>>
Executive Movement
Aegon to appoint Deborah Waters as Chief Technology Officer 
Aegon appointed Deborah Waters as Chief Technology Officer (CTO) and member of the management board of Aegon N.V. Her broad experience in operations and technology and her collaborative leadership style will help transform the business. Read More>>
AXA XL appoints Sandra Lee as Head of Claims, Canada
AXA XL appointed Sandra Lee as Head of Claims for Canada. Ms. Lee, who has served as a leader for the local Casualty Claims team, will now oversee all claims activity across Property & Casualty, Specialty, and Professional lines in the country. Read More>>
Financial and Market Activity
Insurance Australia Group 1H net profit AUD 173 Mn (USD 124 Mn) 
The Australian general insurer recorded a profit loss of USD 124 Mn for the six months through December, compared to an AUD 460 Mn (USD 330.65 Mn) loss a year earlier. Read More>>

Latest Industry Insights from Draup Braindesk

Key Driving Factors:
  • Cloud Solutions: Cloud-based solutions provide various benefits, such as cost control, resource pooling, and less implementation time. It also enables an enterprise to have more control over the server, infrastructure, and systems configured as per the business requirements.
  • Analytic Tools: Insurance analytics tools are widely adopted by various end-users, such as insurance companies, over others by using data as a strategic asset. The growing emphasis on government regulations across the insurance sector has fuelled the adoption of insurance analytics solutions worldwide. 
  • Predictive Analytics: The rising need for big data and predictive modeling capability has led to the increased adoption of insurance analytics tools. Big Data and Predictive Analytics enable insurers with valuable insights such as forecasting customer behavior and supporting underwriting processes. 


Key Funding Alert

Munich Re backs USD 15 Mn funding round for FloodFlash 
FloodFlash plans to use the investment and capacity to fuel international expansion, with target markets including the US, Germany, Australia, and Japan. The insurtech views the large flood protection gap in the US market as an expansion opportunity, having made significant inroads in the UK. Read More>>

Startup Spotlight

Company – Foxquilt
Total Funding – USD 11.49 Mn
About: Foxquilt’s insurance-as-a-service platform is complemented by data and machine learning underwriting infrastructure that leverages innovative technology and creates products, providing small businesses and B2B networks with a service that makes things easier for them. Read More>>

Latest Reports Published in Draup

Old Republic Title – Account Intelligence Report: Old Republic Title provides liability insurance by upgrading the Old Republic Title’s rating with the common branding and talent synergies. Its revenue increased 19.8% in FY2020 compared to FY2019 due to its robust real estate market, low-interest rates, strong reliance, and purchase activity. Read More>>
Blue Cross Blue Shield of Arizona Account Intelligence Report: Blue Cross Blue Shield of Arizona intends to address behavioral health conditions due to COVID-19 expanding access, building capacity, strengthening prevention, treatment, resiliency, and recovery from stress and trauma. Read More>>

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