insuranceNEWS.com.au - Insurtech

AI heightens fraud risk but brings consumer benefits, ICA tells MPs

Mon, 20 May 2024 04:11:45 GMT

Generative AI may be used to augment photographs to fraudulently inflate insurance claims and help criminals with phishing, voice spoofing and identity fraud, the Insurance Council of Australia warns...

‘Category leader’ Cover Genius raises $120 million

Mon, 20 May 2024 04:11:29 GMT

Cover Genius has completed an $US80 million ($121 million) funding round led by US-based venture capital firm Spark Capital...

Johns Lyng buys into builder ‘marketplace’ Handdii

Mon, 20 May 2024 04:11:15 GMT

Building services provider Johns Lyng Group has acquired a stake in insurtech Handdii Holdings to help grow operations in the competitive US market...

Swiss Re looks to offload insurtech arm iptiQ

Mon, 20 May 2024 04:10:34 GMT

Swiss Re plans to withdraw from its digital white-label platform iptiQ after almost a decade and will “look around to see who is interested in these assets”...

Adyen, Cover Genius partner on payment fraud

Mon, 13 May 2024 03:34:02 GMT

Adyen has signed up as a payment processing partner for Cover Genius, to help the embedded insurance heavyweight with pay methods for customers worldwide...

Honey thanks departing VP for ‘blood, sweat and tears’

Mon, 13 May 2024 03:33:49 GMT

Honey Insurance VP of partnerships Eoghan Trehy has left the business after three years...

Insurtechs to pitch at Guidewire contest

Mon, 13 May 2024 03:33:21 GMT

Five finalists are preparing to present at cloud platform Guidewire’s Insurtech Vanguards Pitch Day competition in Sydney on May 23, the first time the event has been held in Australia...

Start-up launches ‘self-serve’ blockchain insurance platform

Mon, 13 May 2024 03:32:57 GMT

Day By Day, chaired by former telecommunications minister Stephen Conroy, says it has launched the world’s first insurance platform for real-world assets that is powered by blockchain and AI...

Webinar to spotlight carbon insurance

Mon, 13 May 2024 03:32:35 GMT

Law firm Norton Rose Fulbright will host an insurtech thought leadership webinar on carbon insurance on June 5...

Insurtech funding slumps to four-year low

Mon, 06 May 2024 03:41:20 GMT

Global funding for insurtechs fell to $US912.25 million ($1.38 billion) in the first quarter, the lowest sum since early 2020, according to Gallagher Re...

Industry action ‘imperative’ as embedded cover surges

Mon, 06 May 2024 03:26:27 GMT

Embedded insurance will grow to $35 billion or 18% of gross written premium (GWP) in Australia in 2033, analysts at PwC forecast...

Broker compliance burden a ‘tech problem’

Mon, 06 May 2024 03:26:07 GMT

Insurtech JAVLN says the insurance industry needs to implement better systems to help brokers meet compliance requirements and “focus on their job at hand”...

Huddle owner’s new travel offer takes off

Mon, 06 May 2024 03:25:37 GMT

Open Insurance – best-known for its artificial intelligence-driven brand Huddle – has created a travel insurance offer for the Australian market...

Finnies reveal insurtech award shortlist

Mon, 06 May 2024 03:22:05 GMT

Eight companies have been named as finalists for this year’s excellence in insurtech Finnie award from FinTech Australia...

Koba rolls out EV cover

Mon, 06 May 2024 03:21:42 GMT

Koba Insurance has launched a dedicated, comprehensive electric vehicle (EV) insurance policy it says is the first in Australia...

Endava creates AI-powered tool for insurers

Mon, 06 May 2024 03:21:23 GMT

US group Endava has developed a tool called Morpheus that applies advanced technology to tasks in highly regulated fields such as insurance...

Qikio names new Co-CEO

Mon, 29 Apr 2024 03:28:09 GMT

Jayde Mulholland has been promoted to Co-CEO at Qikio Insurance and digital broker Add Insure...

Encryption, AI heighten threat from extremists and spies: ASIO

Mon, 29 Apr 2024 03:18:30 GMT

Artificial Intelligence is likely to make radicalisation “easier and faster”, while encryption creates safe spaces for violent extremists to network and recruit, the head of Australian security warns...

Email inboxes ‘an easy target’ for cyber attackers

Mon, 29 Apr 2024 03:18:09 GMT

US insurer Coalition has warned email security is critical to cyber risk management, after 56% of its claims last year stemmed from business email compromise or funds transfer fraud...

Liberty Mutual Re offers sensor-powered quake cover

Mon, 29 Apr 2024 03:17:43 GMT

Liberty Mutual Reinsurance has partnered with Safehub to offer sensor-based parametric earthquake insurance worldwide...