Underwriting
UK Drone Insurer Flock Raises $17M for Planned Expansion
British drone insurer Flock has raised $17 million from investors in early-stage funding led by venture investor Chamath Palihapitiya's Social Capital, Flock said on Thursday. Flock started out ...
Chubb CEO Greenberg Expects Steadier Commercial Rate Hikes Going Forward
Insurance industry analysts asked for years about when rates in the mainline property/casualty commercial insurance market would harden. Now that they have, Chubb Chairman and CEO Evan Greenberg was ...
Business Travelers Aren’t Rushing Back to Flying Just Yet
Of the 2 million people clogging airport security lines and gate areas again each day, one crowd is still largely missing: business travelers. Their absence is noteworthy because they are a key ...
Lloyd’s Will Develop Electric Vehicle, Hydrogen Insurance Products in Climate Change Fight
Lloyd's of London plans to develop insurance products for electric vehicles and hydrogen as part of its efforts to fight climate change, the specialist insurance market said on Thursday. Lloyd's ...
U.S. P/C Net Income Grows to $20B in Q1, but Combined Ratio Worsens: APCIA/ISO Report
U.S. private/casualty insurers saw their net income after taxes jump to $20 billion in the 2021 first quarter, but their combined ratio worsened compared to the same period a year ago, according to a ...
Legacy Carriers Can Join Agentero’s Digital Agent Network as They Improve Their Tech Stacks
One of Agentero's pitches as an InsurTech startup is to connect insurance agents to "modern carriers" to help boost their revenue. Carriers, in turn, can use the California-based InsurTechs's ...
Anti-Fraud Tech Company FRISS Raises $65 Million to Fund Expansion
FRISS, a provider of AI-focused fraud prevention and detection products for P/C insurers, raised $65 million to help it carve out new product lines and market reach. The company said it serves ...
Mining for Gold: Overcoming Challenges to Unstructured Text Data
Artificial intelligence (AI) is undeniably changing the insurance industry. Carriers are justifiably enthusiastic about the opportunities for improved efficiency and cost savings. Unfortunately, the ...