An Unconventional Circular Letter: NYDFS Provides the Nation’s First Directive on the Proper Use of Unconventional and Alternative Data

Last month, the New York State Department of Financial Services (the “DFS” or “Department”) became the first US regulator to impose specific, substantive ...

February 2019

The Latest from Mayer Brown

Regulatory Corner: Finding Common Ground - Recent Developments in International Supervision [Insurtech by Mayer Brown]

Artificial ...

Technology’s Impact on P&C Insurance in 2019

As consumers are looking for a more personalized experience, especially when purchasing something as important as Property and Casualty ("P&C") insurance, the ...

Five Tech Trends That Will Define the Future of Insurance

With technology initiating dramatic changes that are reshaping the insurance industry, the forward-looking insurers are taking action and making investments that will ...

January 2019

The Latest from Mayer Brown

Regulatory Corner: Keeping it Private - GDPR and Developments in Data Privacy in 2018 [Insurtech by Mayer Brown]

Push for Standardized ...

Push for Standardized Data Security Controls for Insurers Gains Momentum

In late December, Ohio became the second state to adopt the National Association of Insurance Commissioners’ (NAIC) Insurance Data Model Law, joining South Carolina in ...

2019 Insurance Outlook: Growing Economy Bolsters Insurers, but Longer-Term Trends May Require Transformation

Where do insurers stand as they enter 2019?

In Deloitte's 2019 report, this question is explored, among many more, regarding how the insurance industry must transform ...

Digital Insurance in 2018: Driving Real Impact with Digital and Analytics

The 2018 McKinsey Digital Insurance Compendium synthesizes highlights from the past year that demonstrate the progress that has been made in reinventing the insurance ...

Cigna’s Algorithms Aim to Predict Opioid Abuse

Machine learning and predictive analytics is helping the health insurance company identify customers likely to overdose.

Cigna Corp. is using artificial intelligence ...

@Insurance Snapshot: Regulatory Corner – Eyeing AI: Artificial Intelligence and its Increasing Impact on the Insurance Industry

The use of artificial intelligence (“AI”), which may be defined as the development of computer systems able to perform tasks normally associated with human ...

Marine Analytics Firm Concirrus announces Partnership with TransRe to Develop Data-Driven Reinsurance Products and Services

Concirrus, the marine analytics insurtech company, has agreed to work with TransRe, the global reinsurer, to jointly develop innovative data-driven reinsurance ...

QBE’s Insurtech Partnership for SME Customers

Through a new partnership, QBE Insurance Group will be offering its small and medium enterprise (SME) customers access to a comprehensive cybersecurity platform.

The ...

Is the Insurer of the Future a Tech Company? PwC summit in Bermuda explores

At the PwC Insurance Summit, presented by the Financial Times, that occurred in Bermuda this past November, various topics on innovation in the insurance industry were ...

As Digital Threats Grow, will Cyber Insurance Take Off?

Cyberattacks are more costly than the reoccurring damage from natural disasters: US$3 trillion in 2015, a price that is projected to climb to $6 trillion annually by ...

From Agriculture to Art – the A.I. Wave Sweeps In

The internet is a technology of low-cost communication and connection. Everything from email to e-commerce to social networks has hinged on the internet’s ...

Insurtech Fundraising Sets a Record for 2Q18

Insurtech transactions reached a new peak in the second quarter of 2018 - exceeding $5 billion - thanks to Artificial Intelligence (AI) advances in the sector giving ...

Nasdaq Makes Offer to Acquire Crypto-Friendly Fintech Startup

One of the world’s largest stock exchanges, Nasdaq, has announced that it has made a $190 million public offer to Swedish fintech solutions firm Cinnober. As a ...

Workers’ Comp Insurtech Pie Insurance Raises $11 Million

Pie Insurance, an online seller of workers’ compensation policies to small-and-medium-sized businesses, reported it has completed an $11 million Series A funding ...

July 13

Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI with Rebecca Eisner [Mayer Brown]

California Enacts GDPR-Like Consumer Privacy Protections: What You Need to ...

Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI with Rebecca Eisner

Across a variety of industries, more and more companies are building, buying and using Artificial Intelligence (AI) in their technology services agreements to further ...

Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI

Across a variety of industries, more and more companies are building, buying and using Artificial Intelligence (AI) in their technology services agreements to further ...

June 29

Canaan Partners Launch New $20M Investment Strategy [Tech Crunch]

KPMG: Insurance Firms Eye M&A and Partnerships for Growth [KPMG]

Insurtech MGA Corvus ...

June 15

Data Critical to Insurance Value Chain: Key Quotes from Mayer Brown’s Tech Transactions Group [Business Insurance]

CFPB Exploring Fintech Sandbox ...

Why data is a fundamental source of value in insurance

Mayer Brown attorneys Dan Masur, Brad Peterson, and Donald Moon recently co-authored a chapter on “DOs and DON’Ts for Big Data Analytics” in Mayer Brown’s new ...

May 18

Lemonade Launches First Ever Open Source Policy [Insurance Business]

QBE Pours Investment into AI Start-Up [Market Insider]

And So it Begins.. South Carolina ...

Lemonade Launches an Open Source Insurance Policy that Anyone Can Edit

Insurance startup Lemonade has announced what it called the world's first open-sourced insurance policy. The new insurance policy, called Policy 2.0, will be open for ...

Drones bring a ‘mindblowing’ level of data to claims: Allstate EVP

During his opening keynote for Digital Insurance’s Dig|In: The Digital Future of Insurance conference in Austin, TX, Ken Rosen, EVP and chief claims officer of ...

South Carolina Governor Signs Data Security Bill Into Law

South Carolina became the first state to enact into law a comprehensive cybersecurity law requiring insurers to "establish a strong and aggressive program to protect ...

May 4

Bermuda Invites Insurtechs to Play in its Sandbox [Bermuda Monetary Authority]

Beazley Bets on Blockchain [Reuters]

2030: Welcome to an AI-driven Insurance World ...

Insurer Beazley to launch blockchain registry with Bitfury, Lloyd’s broker

Beazley has partnered with three companies to create a blockchain-based registry that will handle insurance crisis situations such as mass shootings, the companies ...

Allstate Spinoff Arity Uses Cellphone Data to be High-tech Backseat Driver

The Chicago Tribune sat down with Gary Hallgren, president of Chicago-based Arity -- a year-old Allstate tech startup that uses smartphone apps and add-on devices to ...

City of Hartford Launches First Insurtech Cohort

Hartford InsurTech Hub, the accelerator launched by Startupbootcamp in September, has announced which 11 startups will participate in the incubator’s first program, ...

December 1

Dissecting NAIC’s Insurance Data Security Model Law : Mayer Brown's Larry Hamilton, Jeff Taft, Matt Bisanz and Evan Sippel-Feldman dig into the NAIC’s Insurance Data ...

Allstate Fighting Consumer Fraud with Social Media Data

Allstate has announced a partnership with Carpe Data, a California-based company that uses fully automated data and predictive scoring products to allow insurance ...

October 20

Regulators & Innovators Come Together in Silicon Valley [Mayer Brown's Insurtech Team] – Related: If you missed last week’s @Insurtech Snapshot, read our ...

Give Data Back: Sharing to Better Protect You and Your Home

In order to encourage "collaborative prevention" with customers, AXA has launched a new tool that makes its loss data statistics publicly available on the "Give Data ...

weatherXchange Launches Instant Pricing for Parametric Weather Insurance

weatherXchange – a platform owned by Speedwell Weather – has launched an instantaneous indicative pricing service for index-based weather insurance and derivative ...

September 22

Data + Risks = New ILS Deals [Intelligent Insurer, Subscription may be required]

Is Insurtech Moving Insurance From 'Grudge' to 'Nudge'? [Reuters]

Study – ...

New Data + New Risks = New ILS Deals

The emergence of new technology is redefining the risk transfer industry. Munish Singla, global head of Escrow Solutions at Deutsche Bank, notes the ways in which rapid ...

September 8

Drones Descend on Houston in Harvey’s Aftermath [Claims Journal]

Predictive Analytics Help Insurers Assess Harvey Auto Claims [Digital Insurance]

New Yorkers ...

Esurance Turns to Predictive Analytics to Settle Harvey Claims Faster

Esurance is using predictive analytics to skip adjuster inspections on auto claims related to Hurricane Harvey. Images captured from planes equipped with cameras are run ...

Start-up Raises £180m to Develop InsurTech Focused “insurance challenger”

Insurtech start-up Gryphon Group Holdings has raised  £180 million (US$229 million) in funding to develop an "insurance challenger" that will focus on life, critical ...

May 24

Allianz gains liability risk ID tool [Insurance Journal]

AIG has data-analytics on its mind [Insurance Journal]

Sherpa/Gen Re partnership takes aim at the ...

AIG Agrees to Acquire Hamilton USA, Partner with Two Sigma, Grow Insurtech Attune

Through AIG's merger with Hamilton USA, AIG has agreed to further invest in Attune, a investment unit it created last year with Hamilton and Two Sigma Investments. ...

Allianz Global Corporate & Specialty Partners with Insurtech Firm to ID Liability Risks

Allianz Global Corporate & Specialty SE (AGCS), is working with Praedicat, the Los Angeles-based insurtech analytics firm, to better predict key catastrophe ...

Accenture’s New North American Innovation Center Addresses Insurers’ Digital Challenges

Accenture announced it is launching a new North American Innovation Center that will address the digital challenges that insurers face.

The new Center focuses on ...

Zurich Insurance Signs Deal with BAE to Target Fraud

Zurich has partnered with BAE to implement BAE's NewReveal system. NetReveal uses data analytics to uncover hidden links and potential fraud.

Learn more about ...

Insurers Finally Innovating After Slow Start

As insurtech continues to emerge as one of fintech's most dynamic sectors, incumbent providers are under increasing pressure to adjust to a more digital ...

Navigating Through Uncertainty in The US Commercial Insurance Distribution

McKinsey & Company evaluates areas of risk that US commercial lines insurers will have to address in order to enhance the value they deliver and develop new ...