Finance

The division of XL Catlin, whose insurtech portfolio includes smart-device company Notion, seeks exceptional management teams in its ventures.

The carrier has hired its first chief innovation officer to manage the strategy.

The company looks to invest in startups, like the Ring video doorbell, that dovetail with its future vision of insurance.

Those assuming the job must combine technology expertise, business savvy and a vision of the organization's future, says Pierre Peladeau.

Algorithms and AI are very good at identifying patterns of behavior that predict certain outcomes, which can be used to sort people by the expected cost of care.

The Internet of Things Cybersecurity Improvement Act of 2017 calls for Internet-connected devices to be patchable, meet minimum data safety standards and have changeable password capability.

But challenges of implementing the technology include regulatory issues, incomplete data, lack of skilled employees and executive support.

With 496 deals completed so far this year, insurance, wealth management, lending and blockchain-related companies continue to attract new dollars.

The new system is powered by "AVA," a smart assistant leveraging telematics data to replicate accident scenes in seconds.

Total funding activity is up compared to Q1 2017 and from the same time last year.