While you were off changing the industry, you may have missed these important developments:

  • During the recent RIMS 2019 Annual Conference and Exhibition, Pillar Technologies was announced as the winner of the inaugural RIMS Tech competition. [Property Casualty 360]
  • Insurance companies make pitch to the Insurance Regulatory and Development Authority of India (IRDAI) stating they want to own and nurture startups with 100% stake from the current 10% cap the regulator has put on holding. [The Economic Times]
  • There were 85 InsurTech deals with a total value of $1.42 billion announced in first-quarter 2019, the third straight quarter to top $1 billion in funding, according to the new Quarterly InsurTech Briefing from Willis Towers Watson PLC. [Business Insurance]
  • AI, a risk-assessment and InsurTech platform for the drone industry, on Thursday said it is partnering with nine U.S. aviation brokers to provide drone insurance on a monthly subscription basis from a dedicated web portal. [Business Insurance]
  • Asia now has its own podcast dedicated to Insurtech. The Asia InsurTech Podcast (AIP) was launched last week to inform and entertain listeners and to monitor the growth in scale and influence of the burgeoning InsurTech scene. [Asia Insurance Review]
  • Azur has partnered with technology firm Logical Glue to implement algorithms that it said will enable better risk analysis in order to free up underwriters to focus on broker relationships. [Insurance Age]
  • New York-based Ostraa is live; offering free term life and accidental death and dismemberment insurance for cab drivers of Long Island City-based United Taxi Management in return for them completing a certain amount of shifts. [Coverager]