The Ticker

Collaborates with Guidewire so that carriers can quickly incorporate their cloud platform to enhance pricing, rating, and underwriting. Cutting-edge pricing analytics and underwriting allow carriers to benefit from real-time decision-making and performance. A collaboration between WTW’s Radar analytics software and Guidewire’s PolicyCenter has created a Ready for Guidewire accelerator. 

Completes $1.86 billion reinsurance program before the 2024 Atlantic hurricane season. The program goes beyond all requirements set by regulators and ratings agencies and protects the company’s 175-year return period, covering all perils and third events. 

Launches insurance product for commercial fleet operators in the car-sharing market. Roamly Carshare Insurance incorporates coverage for rental and non-rental car-share users and is released as the global car-sharing market is estimated in one report to reach $51.7 billion by 2030. 

Releases prototype generative AI risk management solutions: AI Risk Identifier, to help risk managers mitigate hazards in AI adoption; and Audit Accelerator, which provides scale-level safety audits when a camera is live. In addition, Origami’s GenAI Pilot Program will analyze the technology’s capacity to review audit responses, suggest corrective action for areas of concern, and summarize claims. 

Begins international operations by partnering with Australia-based carbon solutions provider Clima on carbon credits for companies. The partnership allows clients to obtain some of Australia’s initial insurance-protected carbon credits via Oka’s carbon credit insurance program. PSC Paragon is the broker.

Shares new solution enabling clients to obtain a quote in seconds, eliminating the lengthy application process. The digital insurer focused on small business customers applied its AI-powered proprietary platform and underwriting know-how to the system, which uses consumer data from LegalZoom and other sources. >> Launches its business owner’s policy, enabling agents to provide clients with liability and property coverage under one policy. The policy combines general insurance coverage needed for standard operations and a comprehensive system in which agents can efficiently help clients and earn commissions. 

 Adds Risa Ryan to U.S. executive team as head of U.S. property and casualty, working from Manhattan. Ryan joins from Sompo International, where she was chief underwriting officer; she previously worked at Munich Re America, Swiss Re, and QBE. The hiring reflects the U.K.-based pricing decision intelligence platform’s continued expansion into the United States, with Chief Revenue Officer Richard Gunn also shifting from London to New York and more hiring anticipated.

Acquires microinsurance firm Micro, specializing in natural disaster coverage for underinsured populations in Latin America. There were more than 180,000 Micro policyholders as of the close of 2023; access to Howden’s resources is expected to help the company expand its offerings. >> Launches novel SME cyber platform that eases obstacles to obtaining cyber insurance by simplifying acquisition. The platform is backed by three worldwide carriers and provides a $6 million limit in the underinsured sector. 

Launches a coverage program for insurance consultants’ specific needs and risks, addressing the lack of coverage in their financial sector. The vertical program on Embroker’s ONE platform encompasses professional and cyber liability, as well as important business owners’ coverages.

Receives a $27.5 million debt and equity investment through Morgan Stanley to fund further growth and expand the company’s trucking insurance programs.  The funding, which also involves converting current debt investors into the Series A preferred, will contribute to Cover Whale’s work on its technology and platform to expedite quoting and enhance service.