insurtech
German ‘insurtech’ Wefox raises $650 mln at valuation of $3 bln
Digital insurance startup Wefox said on Tuesday it had raised $650 million from investors, in what it called a record-breaking round for a so-called “insurtech” company that valued the business at $3 billion. The funding means Berlin-based Wefox has grown in value threefold since tapping investors in 2019. The move follows big raises by local …
Stefan Schaffer named as head of Deutsche Bank’s technology centre in Bucharest
Deutsche Bank has announced that Stefan Schaffer will assume the position of Head of DB Global Technology, Deutsche Bank’s technology centre in Bucharest that focuses on developing financial and banking software applications. Schaffer joins the Bucharest team while continuing to perform his current role of Head of Central Chief Information Office (CIO) …
The Fundamental Flaw in InsurTech, Professional Services
By undertaking significant organizational design changes, insurers can unlock the complete value potential of emerging technologies. (Credit: sdecoret/Shutterstock.com) Some people like to refer to insurance as a “fast follower.” This criticism label is not without significant merit. Nowhere is this more noticeable than in the technology infrastructure that exists within insurers. The manufacturing industry developed …
Ant Financial becomes Ant Technology
Ant Financial Services Group has been given the green light by Chinese regulators to change its name to Ant Technology Group in a move that could help it avoid scrutiny from the country’s financial watchdogs. Alibaba Group affiliate Ant has been granted approval by China’s top business and commerce regulator to change its name …
Gala Technology partners with Paysafe to offer multi-channel payment options
Leading specialised payments platform Paysafe Group (Paysafe) announces a partnership with Gala Technology, the innovative Yorkshire-based company behind the multi-award winning ‘Cardholder Not Present’ (CNP) payment solution, SOTpay. SOTpay enables cardholders to complete secure remote transactions, while remaining in control of their sensitive card information on their personal device. Transactions are fully authenticated and …
Ping An Technology and Intel form innovation lab
Ping An Technology and Intel are building an innovation lab in Shenzhen to experiment in areas such as cloud, AI, security and storage. Part of the giant Ping An Insurance empire, Ping An Technology develops tech for a range of industries, including financial services. Ericson Chan, CEO, Ping An Technology, says: “Partnering with Intel …
Technology And Trends Shaping Insurtech In 2019 And Beyond
Multiple disruptive forces are reshaping the global insurance sector. Technology such as artificial intelligence (AI), machine learning (ML), blockchain and internet of things (IoT) solutions stand on one end, and nimble, innovative insurtech startups sit on the other. These technology advancements are forcing traditional incumbents to rethink their business models and accelerate their digital transformation …
TP Icap signs multi-year data and technology agreement with Refinit…
Refinitiv announced today that it has signed a multi-year strategic agreement with TP ICAP to support its data needs for both its brokers and technology platforms. As the world’s largest inter-dealer broker, TP ICAP needs comprehensive, enriched and integrated global data across multiple asset classes, including equities, fixed income, energy & commodities, FX …
