InsurTech

Coalition, a cyber insurance provider, has partnered with BDT Capital to form Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programmes.

Cyber insurer SecondSight has exited stealth with the launch of its AI-driven platform and an oversubscribed $3m seed round.

Elpha Secure Technology, a cyber insurance startup that combines proprietary cybersecurity software with coverage to improve risk transfer, has raised $20m in Series A funding.

RegTech IMTF has partnered with Parashift, a provider of advanced machine learning-based document classification and data extraction software, to accelerate document processes with AI.

Automating AML and KYC compliance checks in the insurance industry would help drive operational efficiency and better customer experiences, according to PassFort, a Moody Analytics company.

Cowbell Cyber, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has partnered with Swiss Re to offer cyber coverage to enterprises running their business on Amazon Web Services (AWS).

Coalition, a cyber insurance provider, has acquired US property and casualty insurer Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation.

For as long as insurance has been around, criminals have been committing insurance fraud. With increasingly sophisticated fraud activity, insurers are turning to artificial intelligence and machine learning. However, they must develop standards to prevent unfair discrimination and remove any bias in these technologies.

FinTech and global insurance broker Acrisure has acquired two Managed Service Providers (MSP) within its Cyber Services division, Catalyst Technology Group and ITS.

Apollo Brokers, a digital wholesale cyber insurance broker, has launched its Cyber Marketplace, which will offer cyber security solutions direct to every insured.