Not so long ago, Hartford, Conn., was widely known as the insurance capital of the world. Today, interest has shifted to technology-led insurance firms, or InsurTechs, raising the question: Where is the InsurTech capital of the world? With insurance technology …
With two social media posts, Shai Wininger, co-founder of the insurtech Lemonade, accused giant Amazon of poaching employees of his startup insurance carrier that is powered by artificial intelligence and behavioral economics. Wininger also threatened to retaliate by leaving the …
Highlighting the development as a “noteworthy item” in an earnings announcement Thursday night, American International Group reported prior-year loss reserve strengthening of $836 million before taxes, which contributed to a $1.7 billion bottom-line net loss (after taxes) for the third …
Insurance rating agency A.M. Best announced the publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups that the rating agency has put under review. Allstate and American …
Lemonade announced Tuesday that it launched a public API (application programming interface), allowing anyone to seamlessly offer Lemonade policies through their apps or websites. The insurtech home insurer announced: “Today, we’re thrilled to announce that we’re opening up the Lemonade …
The Hanover Insurance Group announced Tuesday that John C. Roche has been appointed president and chief executive officer, effective Nov. 4, succeeding Joseph M. Zubretsky. The news came about a half hour before Molina Healthcare announced that Zubretsky was stepping …
Using a Bermuda joint venture between Ironshore and C.V. Starr & Co. as a model, Ironshore announced the launch of Iron-Excess on Monday. Ironshore, a Liberty Mutual company, describes Iron-Excess as an expansion of the Iron-Starr Excess underwriting agency business …
With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general agencies, representatives of GC Securities said Sunday. In a blog item on Guy …
Before Hurricane Irma made landfall in south Florida on Sunday morning, analysts were assessing the potential damage to property/casualty insurer and reinsurance balance sheets and earnings. On Friday, Fitch Ratings noted that if Irma were to produce insured losses greater …
A frightened truck driver dodging a barrage of bullets fired from the assault rifles of a drug-smuggling criminal gang doesn’t seem like the obvious description of the final stages of a cyber attack. But the real-life scenario that played out …
