Insurtech weekly: Aviva; DataCubes; Slice Labs; SafetyWing; Ripe

Published in: Risk, Risk management, Corporate strategy, UK, US - Canada - Bermuda, Software - IT

Companies: Aviva, DataCubes, Slice Labs, SafetyWing, Ripe

Aviva partners with insurtech Ripe

Who’s involved: UK-based specialist provider, Ripe Insurance, and Aviva

What’s happening:  Ripe Insurance has signed a five-year capacity deal with Aviva. Under the agreement, Aviva will become the capacity provider for the majority of Ripe’s niche insurance products in the sport, leisure and business sectors

Significance of development: As an insurtech business, the partnership provides Ripe with a partner that understands its digital model, can accelerate its product pipeline and can open up new opportunities for distributing Ripe products through Aviva channels

Timeline: The five-year agreement with Aviva is effective from January 2019

 

WCF Insurance links up with DataCubes

Who’s involved: US data science and machine learning platform, DataCubes, and US-based workers’ compensation insurer, WCF

What’s happening:  WCF Insurance has announced a partnership with DataCubes

Significance of development: The collaboration will allow WCF to automate the data intake process and increase underwriting accuracy and productivity

Timeline: With immediate effect

 

SafetyWing partners with Eddy Travels

Who’s involved: AI-powered travel assistant, Eddy Travels, and digital travel medical insurance platform SafetyWing. SafetyWing’s insurance partner is Tokio Marine HCC

What’s happening:  SafetyWing is partnering with Eddy Travels to expand its travel medical insurance offering

Significance of development: As part of the partnership, Eddy Travels and SafetyWing say they plan to expand the integration further in a bid to create “an even smoother experience” for travellers looking for travel medical insurance

Timeline: With immediate effect

 

Slice Labs launches new AI tool to predict insurance risk

Who’s involved: US-based Insurance cloud platform provider Slice Labs and Slice Mind, a new business unit of Slice

What’s happening:  Slice Labs has launched a new business unit, Slice Minds, to help companies with insurance risk modelling, product recommendations and personalisation

Significance of development: Slice Mind says it will enable companies and their customers to be better protected against risk due to its ability to predict potential claims, among other capabilities

Timeline: With immediate effect

Ronan McCaughey