Insurtech weekly: Kovrr; Tremor; Skuld; Hi Marley; Concirrus

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

Companies: Kovrr, Tremor, Skuld, Hi Marley, Concirrus

Cyber risk modelling company Kovrr raises $5.5m

Who's involved: Kovrr, a Tel Aviv based predictive cyber risk modelling company. Venture capital firms StageOne Ventures and Mundi Ventures, as well as Innocells, the corporate venture arm and digital innovation hub of Banco Sabadell.

What's happening: Kovrr has completeda $5.5m financing round. The round was led by StageOne Ventures and Mundi Ventures, with participation of Banco Sabadell and other private investors.

Significance of development: The proceeds will be used for product development and to accelerate the company's global growth.

 

Programmatic Risk marketplace Tremor secures $10m in financing

Who's involved: Tremor, a programmatic insurance and reinsurance risk transfer marketplace; W. R. Berkley Corporation and Nephila Capital, Markel Corporation and lead investor Anthemis Group.

What's happening:  Tremor has raised $10m in a funding round which sees W. R. Berkley Corporation and several new strategic investors join existing investors Nephila Capital, Markel Corporation and lead investor, Anthemis Group, in the current round.

Significance of development: The company plans to use the latest funds to develop its marketplace to include enhanced quoting and management capabilities as well as accelerate hiring of an expanded team. 

 

Marine insurance provider Skuld partners with insurtech Concirrus

Who's involved: Marine insurer Skuld and Concirrus, a UK-based insurtech.

What's happening:  Skuld has partnered with Concirrus to deploy its behaviour-based data analytics platform, Quest Marine.

Significance of development: Skuld is the first P&I Club to integrate Quest Marine with its business systems. With the platform in place, Skuld said it will now be able to identify suspicious loss behaviour, develop risk monitoring insights, and advise members on ways to reduce risk.

 

Insurtech launches hurricane and wildfire notifications

Who's involved: Hi Marley, a US-based insurtech and intelligent texting platform.

What's happening:  Following wildfires and hurricanes, Hi Marley customers can now text their insurer about the disaster to begin the claims process.  The platform also allows insurers to be proactive and send notifications to customers about weather events and threats.

Significance of development: Using the Hi Marley platform allows insurers to proactively update customers and alleviate the process for claims, underwriting and policy interactions.

Ronan McCaughey