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Earnix Survey Reveals Majority of Insurers Plan to Implement AI Predictive Models Within Two Years

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By on AI, news

– Earnix, the leading AI, real-time platform for intelligent decisioning SaaS solutions for the insurance and financial services industries, today announced its third annual survey on the state of the insurance market, the 2024 Industry Trends Report. The survey of over 400 global insurance executives uncovers key findings, trends, implications for what’s next in insurance, and sheds light on the role technology can play in shaping a better future. Key findings from the 2024 survey include: More than two-thirds (70%) of respondents expect to deploy AI models that make predictions based on real-time data in the next two years More…

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Honeycomb Reaches $35B Milestone, Expands

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By on news

Honeycomb Insurance, a leading managing general agent (MGA) specialising in landlord and condo association insurance, has broadened its reach into Washington and Maryland, meaning the firm now insures over $35bn in assets. This move brings Honeycomb’s active coverage areas to a total of 18 states, reaching over 60% of the U.S. population, according to FF News. The company is now operating across states including Arizona, California, Connecticut, Georgia, Illinois, Indiana, Maryland, Massachusetts, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Texas, Utah, Virginia, Washington, and Wisconsin. The decision to expand geographically and launch the new E&S program aligns with Honeycomb’s goal of…

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Parametrix Unveils Cyber Solution for Disruptions

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By on Cyber, news

Parametrix, the company that launched as a specialist in parametric cloud downtime cyber insurance and reinsurance protection, has expanded its range of parametric cyber related insurance offerings, launching a new product focused on digital system interruptions and technology performance guarantees. With $50 million of limits available backed by capacity from the Lloyd’s market, this is a meaningful new addition to Parametrix’s offering. Business interruption caused by digital system issues and impacts is a significant cost for large companies and enterprises, so this new parametric cyber insurance offering, named Parametrix Enterprise Solutions, can help to cover some of these costs. The…

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MIC Global partners with VOOM Insurance to Reinsure Rideshare Business

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By on Investments, news

MIC Global (MIC), a pioneering full-stack embedded micro insurance provider, is pleased to announce a new partnership with leading InsurTech company VOOM Insurance, to provide reinsurance to its rideshare business. This strategic collaboration aligns perfectly with MIC’s mobility book and underscores its commitment to supporting innovative insurance solutions for the future of mobility. VOOM Insurance, known for its cutting-edge, usage-based insurance products, has been at the forefront of providing tailored solutions for emerging mobility segments across the USA. Many rideshare drivers primarily use their vehicles for professional purposes, with limited personal use, yet they often overpay for traditional personal insurance.…

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Insurtech Israel Wins Best Collaboration

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By on news, People

A prestigious recognition that highlights the innovation and excellence of the Israeli insurtech ecosystem Insurtech Israel is proud to announce that it has been awarded the Best Global Insurance & Insurtech Collaboration at the prestigious Global Insurtech Awards. This accolade underscores the organization’s commitment to driving innovation and excellence within the insurance industry and represents a significant milestone for Israel on the global stage. “This honor reflects the hard work and innovation of our exceptional startups, who are pushing the boundaries of insurance and driving the industry toward a more advanced, high-quality future. Their dedication is at the heart of…

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Joshu Named to InsurTech100 Innovators List

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By on People

Joshu, the platform to build, distribute, and grow digital insurance products, is pleased to announce the company has been named to this year’s InsurTech100, a list of companies transforming the insurance industry curated by specialist research firm FinTech Global. “In an industry known for its legacy systems, complex business requirements, and heavy regulations, it’s hard to continuously scale and innovate underwriting and distribution platforms,” said Roy Mill, CEO and co-founder of Joshu. “That’s why this recognition from FinTech Global is so important. It highlights Joshu’s commitment to delivering innovative solutions that streamline operations, speed up time-to-market, and boost competitiveness for insurance companies.” In…

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Earnix Appoints US Insurance Leader Jessica Buss to its Board of Directors

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By on news, People

Earnix, the leading AI, real-time platform for intelligent decisioning SaaS solutions for the insurance and financial services industries, today announced the appointment of Jessica Buss, Chief Executive Officer of Argo Group, to its Board of Directors effective October 1st. Buss is a highly respected leader in the property and casualty insurance industry, with extensive experience in executive management, finance, and operations. Jessica Buss joined Argo Group in August 2022 as Chief Executive Officer, where she is responsible for setting the strategic direction for the company and managing its overall operations. She is also the current Chairman of the Board of…

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Sure-Tech Invests $1M in GeoX

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By on Investments

Sure-Tech Investments has signed an agreement to acquire shares in portfolio company GeoX and will invest $1 million in its ongoing fundraising round. In return, Sure-Tech will receive Series A preferred shares. The announcement was made by Sure-Tech to the Tel Aviv Stock Exchange and the Securities Authority. Recently, GeoX partnered with the Flashpoint Venture Capital Fund, which will lead the $13 million funding round, valuing GeoX at $61–$65 million post-money. Flashpoint will invest $8 million, with $5 million transferred after the agreement’s signing and an additional $3 million at a later date. Sure-Tech has already invested $3.75 million…

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Air Doctor secures $20M for travel health

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By on Health Insurance

Traveling abroad comes with its unique set of stresses, and for many, one of the biggest is what to do if you find yourself unwell. Can you find a doctor who speaks your language, will accept your insurance, and let you avoid the costs and stress of visiting an unfamiliar hospital emergency room? A startup called Air Doctor has built a platform to help people in this very predicament, and it has now raised $20 million in a Series B round after seeing strong traction. Air Doctor’s product is part directory, part algorithmically-driven location-based service provider, and part accounting tech. At its…

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GEOX secures $19 million Series A to analyze real estate risk from climate-related disasters

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By on AI

The Israeli startup’s technology uses artificial intelligence to conduct 3D analysis of aerial imagery, enabling automated and highly accurate assessments of real estate properties. This system helps to predict potential damage caused by natural disasters such as hurricanes, floods, and wildfires. Israeli startup GEOX, which has developed an AI-powered platform for analyzing real estate risk from climate-related disasters, has successfully raised $19 million in a Series A funding round. The round was led by Flashpoint Venture Capital, with participation from Suretech Partnership, as well as investors Ariel Maislos and Noam Lanir. This funding brings the total investment in the company…

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