Insurtech roundup: Friss; Ageas UK; Slice; Gradient AI; Munich Re

Published in: Risk, Risk management, Corporate strategy, Rest of Europe, US - Canada - Bermuda, Software - IT

Companies: Munich Re, Friss, Slice Labs, The Co-operators Group, Ageas UK, Gradient AI

Munich Re and Friss extend partnership

Who’s involved: Dutch fraud detection software provider, Friss, and Munich Re.

What’s happening: Munich Re and Friss have extended their partnership following their cooperation in Latin America and Iberia. Both parties have now agreed to support insurance companies worldwide.

Significance of development: Both parties said insurers will benefit from more efficient operations, a fast-track customer service and artificial intelligence-powered fraud and risk offerings.

 

Ageas UK selects SightCall video claims platform

Who’s involved: UK motor insurer Ageas andSightCall, a provider of augmented reality- powered visual support technology.

What’s happening: Ageas UK has selected SightCall’s platform as part of its claims management process.

Significance of development: The partnership means customers of Ageas UK can live stream their claims directly to a claims consultant through their smartphone. This aims to make it easier to perform assessments remotely.

 

Slice announces Duuo insurance products built on cloud platform

Who’s involved: US-based insurance cloud platform provider Slice Labs and Canadian insurer, The Co-operators Group.

What’s happening: Duuo, a digital insurance brand from The Co-operators Group has launched insurance products built on the Slice insurance cloud services (ICS) platform.

Significance of development: With Slice ICS, Slice said Duuo can quickly create insurance products that fill the gaps of legacy insurance models.

 

Gradient AI secures $6m in funding

Who’s involved: US artificial intelligence insurance software provider, Gradient AI,venture capital firm Forte Ventures and investor Sandbox Insurtech Ventures.

What’s happening: Gradient AI has raised $6m in series A financing led by Forte Ventures and investor Sandbox Insurtech Ventures. The funding round also includes participation from Gradient’s existing investor, MassMutual Ventures.

Significance of development: Gradient AI said the funding would meet demand for AI and machine learning and drive further growth.

Ronan McCaughey