Gen Re partners with health technology company
Who’s involved: Reinsurer Gen Re and health technology company PAI Health.
What’s happening: Gen Re and PAI Health have signed an exclusive agreement in a bid to bring digital heart health technology to the insurance industry.
Significance of development: Gen Re said PAI’s digital services are based on research that has demonstrated the effectiveness of a heart rate-based metric. The metric, called personal activity intelligence, recommends personalised activity levels for optimal mortality risk reduction from cardiovascular disease and other lifestyle diseases.
Cuvva launches pay-monthly car insurance
Who’s involved: London-based pay-as-you-drive insurtech, Cuvva.
What’s happening: Cuvva has raised £15m ($19m) to launch pay-monthly car insurance and plans to make it available early next year.
Significance of development: Cuvva said the new offering will allow customers to buy car insurance on a pay-monthly basis and be able to cancel any time. Comparing the offering to a Netflix subscription, Cuvva said customers will also be able to pause their monthly coverage.
Allianz partners with insurtech Dinghy
Who’s involved: Allianz and insurtech Dinghy, which provides business insurance for freelancers.
What’s happening: Allianz Insurance has secured a partnership with Dinghy.
Significance of development: Nick Hobbs, director of broker markets at Allianz, said the partnership represents a great opportunity with“insure-as-you-work solutions expected to become more prevalent.”
Trov launches renters insurance programme
Who’s involved: US-based insurtech Trov and Lloyds Banking Group.
What’s happening: Trov has launched a digital renters insurance application, brought to market by Halifax Home Insurance, which is part of Lloyds Banking Group.
Significance of development: Trov said its technology enables renters to activate the base home coverage as a monthly subscription, and be able to turn protection on or off for individual items. It notes the population of UK renters has risen from 2.8m in 2007 to 4.5m in 2017.
Verisk to acquire life insurance software company
Who’s involved: Data analytics provider Verisk and Fast, a US-based software company for the life insurance and annuity industry.
What’s happening: Verisk has signed a definitive agreement to acquire Fast.
Significance of development: As part of the acquisition, Verisk plans to strengthen its data and analytics solutions in the life insurance and annuities market.
People:Nick Hobbs