The Ticker

Adds embedded benchmarking to Cyber Quoting platform, enhancing broker decision-making with policy limit adequacy and loss projection data from peer firms.

Unveils ResQ Machine-led Reserving, leveraging proprietary algorithms for automated, precise P&C loss projections. Early results suggest the tool significantly outperforms humans in historical accuracy and stability of loss projections.

Launches as new MGA with $25 million Lloyd’s Syndicate-backed capacity, offering multi-class solutions for global onshore power and renewable energy risks. Volt aims to expand offerings in coming months and to increase capacity by January 2025.

Buys Surefyre to expand AI-powered solutions for MGAs, enhancing quoting speed, underwriting efficiency, and operational flexibility. Surefyre’s tools include a configurable agent portal and automated workflows tailored to MGA needs.

To sell iptiQ’s European P&C business to Allianz Direct, transferring the Luxembourg-based risk carrier, 100+ employees, and 130,000 customers to the German firm. Acquisition will support Allianz Direct’s focus on expansion into the B2B2C segment.

Secures €25 million of Series B funding to enhance cyber insurance offerings for European SMEs, scale distribution of its Endpoint Detection & Response product, and expand professional indemnity lines into new industries.

Raises €30 million to strengthen AI-powered insurance platform, expand globally with a focus on North America and Asia, and recruit top AI talent. Platform automates claims processing, reducing operational costs by as much as €8 million annually for large insurers.

Launches Enterprise Solutions, a parametric cyber insurance product covering digital interruptions with tailored policies for first-party and dependent systems. Offering limits from $10 million to $50 million and high customizability, the product aims to address a gap in the growing digital insurance market.

Launches AI-powered tools to streamline insurance procurement for small and midsize businesses. Tools encompass Policy Explorer for reviewing coverages, COI Management for near instant certificates of insurance, and Self-Serve Flow for quoting of multiple coverages across carriers.

Launches AI-powered Patient Safety Report in partnership with Preverity. The tool enables hospitals to benchmark safety metrics against national standards and mitigate risk using insights from more than 80 billion healthcare transactions.