What’s happening in the DIA Community | DIA Community News

What’s happening in the DIA Community | DIA Community News

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 6 Mar, 2019

Time for a new update on how some of the insurtechs we had on stage, the true DIA alumni, are doing. With the next DIA edition (Amsterdam 25-27 June) in sight, keep on reading to find out what’s been going on in the DIA Community.



DIAmond Award Winner KRYON raises $40 million
KRYON recently won a DIAmond Award during the last DIA edition and now they announced the completion of their Series C financing round of $40 million led by OAK HC/FT. Kryon intends to use the funds to continue development of its innovative technology and penetration into new geographies by expanding its sales and marketing teams and opening additional offices around the globe.

Click here to read more

Etherisc, Aon and Oxfam in Sri Lanka on a Mission: to Expand Inclusive Insurance in Sri Lanka
In a previous editorial we argued why we think new digital technologies offer insurance carriers the opportunity to be a force for good in the communities in which they operate. This way insurance firms are leveraging Insurtech to tackle important global challenges today and in the future. You can imagine we were pleased to discover Etherisc is doing exactly that.
Etherisc made headlines in recent weeks after partnering with leading global professional service firm Aon and non-profit group Oxfam to bring inclusive crop insurance to thousands of smallholder paddy field farmers in Sri Lanka. The partnership is an example of multidisciplinary cooperation to address complex real-world problems. Oxfam provides the first-hand experience in the farmer-community, Aon lends its knowledge in the (re)insurance market and in developing insurance propositions, while Etherisc brings its blockchain and decentralized risk-pools expertise.

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Atidot and Sureify Partner to Provide the Life Insurance Industry With Data Insights
One of the DIA Top Insurtech Trends is ‘Innovation Multiplied’: insurtechs partnering with insurtechs to create even more innovative solutions. Atidot and Sureify are doing exactly that! Both DIA alumni announced a new partnership to bring to their unique tools to the industry. The partnership will enable life insurers to collect new data in order to produce actionable insights, allowing carriers to more effectively engage with their policyholders. With information that is specific and relevant to each policyholder, carriers can improve how they monitor active policies for under-insurance or lapse potential, and proactively identify opportunities for cross and up-sell.

Click here to read more



Life insurance to be revolutionized by vlot
Many argue that insurance cannot be sold directly to consumers, ‘since consumers really need advice’. The share of direct players in countries such as UK and The Netherlands prove that for a vast majority of consumers this is not true anymore – at least in car and home insurance. Vlot, from Switzerland, is also challenging this convention for life insurance. They just launched their direct to consumer platform for life and disability.

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Baloise to collaborate with Smart Living Lab research centre
As part of its Simply Safe strategy, Baloise is collaborating with Smart Living Lab on research into its customers’ future living requirements. Smart Living Lab is the Fribourg-based research and development centre of the Swiss Federal Institute of Technology in Lausanne (EPFL), the School of Engineering and Architecture of Fribourg (HEIA-FR) and the University of Fribourg (UNIFR). The question of how people will live in the near future is one that not only affects society but also all service sectors, in particular insurers.

Click here to read more



Allianz teams up with football club Anderlecht to promote road safety
Ever wondered whether football players are good drivers? With the app ‘Allianz Bonus Drive’ Allianz is teaming up with Belgium top football club Anderlecht to promote road safety. The application uses technology by Truemotion, another DIAmond Award Winner, and  lets drivers evaluate and analyze their own driving style and rewards them by offering discounts on their car insurance. The winner of the month-long experiment with Anderlecht receives a golden steering wheel. Fans of the football club are welcome to join the experiment. The app has been downloaded over 17,000 times since its launch in February.

Click here to read more (in Dutch/French) or here to check out the players' driving skills!

BMW & Daimler joined forces in the field of future mobility
An example that perfectly fits into the ecosystem megatrend and into one of the DIA Top Insurtech Trends that we distinguish; Competition Cooperation: The BMW Group and Daimler AG are pooling their mobility services to create a new global player providing sustainable urban mobility for customers. The two companies are investing more than €1 billion in total to develop and more closely intermesh their offerings for car-sharing, ride-hailing, parking, charging and multimodal transport. The cooperation comprises five joint ventures: REACH NOW for multimodal services, CHARGE NOW for charging, FREE NOW for taxi ride-hailing, PARK NOW for parking and SHARE NOW for car-sharing.

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Pypestream launches self-serve design studio for conversational AI
In a few short years, the New York-based AI solutions startup has signed on customers like Shell, DishNetwork’s Sling TV, and TriWest. And Pypestream says it has tripled its customer base in the past 12 months alone. To fuel that growth, it today announced a $15 million raise led by insurance company W.R. Berkley, bringing its total haul to $35 million. This round follows on the heels of $15 million in Series A financing last year. And it coincides with the launch of Design Studio, a new customization tool that sits atop Pypestream‘s proprietary natural language processing (NLP) engine.

Click here to read more



Shift Technology & Mitsui Sumitomo Seguros Tackle Digital Transformation in Brazilian Insurance Market
Shift Technology, a provider of AI-native solutions for the global insurance industry today announced the company has entered into a long-term agreement with Mitsui Sumitomo Seguros, a member of MS&AD Insurance Group which is the 8th biggest insurance group in the world. As a result, Mitsui Sumitomo Seguros will adopt Shift Technology's FORCEtm to automate and improve the accuracy of the carrier's fraud detection capabilities. According to Giuliano Borro, IT & operations director, Mitsui Sumitomo Seguros, "The insurance industry globally, and especially in Brazil, is highly regulated, which makes IT projects like ours extremely complex. Working with a partner like Shift, who will not only deploy the technology we need to support our business, but also meet the global and local regulations that govern our industry, is greatly beneficial."

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FRISS Joins Duck Creek Partner Ecosystem to Provide Risk and Fraud Detection Solutions to Property & Casualty Insurers Worldwide
DIAmond Award winner FRISS is going places! Duck Creek Technologies has expanded its Partner Ecosystem program with a new relationship with FRISS, the provider of AI-powered risk and fraud detection solutions for underwriting, claims, and SIU to insurers in over 30 countries. FRISS software seamlessly integrates with Duck Creek solutions and insurance processes; using the FRISS Score, users can incorporate a standardized rating to detect and rank fraud. 

Click here to read more

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