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Peak3 Secures $35 Million Funding to Accelerate European Expansion in InsurTech
Peak3, a cloud-based InsurTech company, has raised $35 million in a Series A funding round to expand its presence in the UK and European markets. The investment will accelerate the development of its API-driven SaaS platform, Graphene, aimed at modernizing insurance operations and enhancing customer engagement. Peak3 has established its European headquarters in Dublin and plans to target key markets including Germany, France, and Spain. With over 500 employees globally, the company is focused on local talent acquisition and adapting its solutions to meet the unique needs of the European insurance landscape.
Carbon Underwriting Welcomes Industry Leaders Paddy Byrne and Michael Watson to Strengthen Board Expertise
Carbon Underwriting, a key player in Lloyd’s delegated underwriting authority (DUA) sector, is undergoing significant leadership changes with the appointment of Paddy Byrne as chairman and Michael Watson as non-executive director, pending regulatory approval. This transition follows the planned departure of outgoing chairman Rupert Atkin, who has been essential in establishing the firm’s market reputation. Carbon specializes in innovative solutions for the international coverholder market, leveraging its proprietary Graphene platform for enhanced underwriting efficiency. The new appointees bring extensive industry experience, expected to drive the company’s strategic objectives and growth through advanced technology integration.
Kanguro Launches Renters’ Insurance in Florida: Affordable Coverage for Peace of Mind
Kanguro is transforming the renters’ insurance market in Florida with a customer-centric approach, following its success in pet insurance. The launch of their renters’ insurance aims to make offerings straightforward and accessible. Key features include comprehensive coverage for personal belongings and liability, fast claims processing through advanced technology, and bilingual services. Kanguro emphasizes a user-friendly platform for easy sign-up and claims management, aligning with their mission to modernize insurance. CEO Andres Mishaan and President Nicholas Hanabergh highlight the company’s commitment to providing reliable, transparent, and exceptional service to Florida residents in both English and Spanish.
Brooks Insurance Boosts Underwriting Division with Strategic Key Hire
Brooks Insurance, a leading wholesale insurance brokerage, has appointed Tiffani Ann Garabedian as senior vice president of underwriting to enhance its underwriting capabilities and program offerings. Garabedian brings nearly 20 years of experience, having previously developed excess casualty programs at firms like AmTrust and Nationwide. In her new role, she will collaborate with managing director David Rosen to innovate program business offerings, particularly in agribusiness and complex manufacturing. Both Rosen and Venbrook Group CEO Jason D. Turner highlighted her expertise as crucial for expanding the firm’s capabilities and creating valuable programs for clients.
Unlocking Success: Essential Strategies for Innovative Insurance Product Development in a Competitive Market
Creating a successful insurance product in today’s InsurTech landscape requires careful planning, collaboration, and informed decision-making, often with limited data. The pre-launch phase is critical, focusing on identifying target customers, defining unique value, assessing risk tolerance, and clarifying policy terms. Insurers can utilize external data sources like filed rates and government statistics to inform pricing strategies. An iterative approach, emphasizing segmentation and market analysis, is essential for adaptable pricing. Successful launches depend on cross-functional teamwork and technology, such as Akur8’s pricing tools. Continuous monitoring and adaptability are vital for long-term success in the competitive market.
Transform Your Claims Management with Expert.ai’s Innovative EidenAI Suite
Expert.ai has launched the EidenAI Suite, an advanced AI solution aimed at transforming claims management, policy personalization, and fraud prevention in the insurance sector. This suite integrates AI capabilities to optimize claims automation, enhance underwriting, and reduce fraud risks, offering a high ROI and low TCO. Its modular design allows for full or partial integration with existing systems. Utilizing a hybrid AI approach, EidenAI combines Generative, Agentic, and symbolic AI with knowledge graph techniques for improved decision-making. Daniele Cordioli emphasizes that the suite adapts to user needs, streamlining tasks and enhancing operational transparency in the InsurTech landscape.