Clearwater Analytics acquires Beacon; Earnix buys Gen AI provider: Insurtech news

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Verisk releases strikes, riots and civil commotion catastrophe model

Verisk announced the release of a catastrophe model to help quantify the financial impacts of strikes, riots and civil commotion (SRCC) in the United States. According to the press release, this comes as a response to growing insurance losses from large SRCC events in recent years.

"Over recent years, unrest in the U.S. highlighted the necessity for insurers to have a comprehensive understanding of potential political risk hazards," said Sam Haynes, vice president of data and analytics, Verisk Maplecroft, in the press release. "A one in 1,000-year SRCC event could cause losses 10 times greater than those from the 2020 protests, while very low-probability SRCC tail events could potentially impact commercial and municipal properties at the ZIP code level nationwide, the majority of which are located in metropolitan areas."

Clearwater Analytics acquires Beacon

Clearwater Analytics announced the acquisition of Beacon Platform Inc., a provider of enterprise risk analytics and developer infrastructure. According to the press release, the acquisition strengthens Clearwater's capabilities in complex portfolio management in public and private markets.

"With Beacon, we've expanded our platform to deliver end-to-end support across the entire investment lifecycle—from front-office modeling to middle- and back-office operations," said Sandeep Sahai, Clearwater CEO, in the announcement. "Together, along with Enfusion and Bistro, we're transforming a fragmented industry landscape with a unified platform built for today's institutional investors—streamlining complexity, accelerating decision-making, and driving performance across public and private markets."

Nassau Financial expands insurtech program

Nassau Financial Group announced an expansion of Nassau Reimagine, a program to support early and mid-stage startups in insurtech, fintech and retiretech. 

Phil Gass, chairman and CEO of Nassau, said in a statement: "We are excited to expand our Nassau Reimagine program with additional capital and resource support. Our program has supported over 100 startups in our communities since its inception in 2019, as a first-of-its-kind among Hartford-based insurance companies. Through this added commitment, we look forward to enabling technological innovation for the insurance industry with new companies in our communities."

Applied Underwriters completes spin off of United Risk

Applied Underwriters announced United Risk, a subsidiary, will become an independent company operating on its own.

Jamie Sahara, president of Applied Underwriters, said in a statement: "I see a bright future of potential for United Risk and its leadership team who have embraced in earnest a spirited confidence to build out the best business possible. At the same time, United Risk continues to enjoy strategic partnerships with the other Applied affiliates which have proven, deep resources giving United Risk an advantage over its direct competitors as it develops on its own in difficult areas such as cyber security, IT development, artificial intelligence and branding."

Riskonnect partners with MAPTYCS on property risk

Risk management solutions provider Riskonnect has partnered with geospatial intelligence platform MAPTYCS to provide corporate and insurance risk professionals with accurate, timely and reliable data to support analysis of property risk exposures.

"Our partnership with MAPTYCS continues Riskonnect's commitment to innovation," stated Patrick Eslick, VP Product Management at Riskonnect, in a press release. "By leveraging MAPTYCS geospatial analytics, we're able to equip our customers with visual insights to better assess their property risk exposures and provide alerts to key personnel when NatCat events occur."

Earnix buys Gen AI provider

Insurance AI platform Earnix has acquired generative AI provider Zelros. 

With the acquisition, the companies plan to offer predictive, generative and agentic AI throughout risk decisions, personalization and claims, they announced in a press release.

"As a mutual customer of Zelros and Earnix, we're excited about the acquisition," shared Stéphane Muller (Chief Insurance Officer) and David Quantin (Chief Information Officer) of Matmut. "The synergies between the two are compelling and will help us better meet our members' coverage needs and experiences."

WTW launches Radar Vision

Insurance advisory, brokerage and solutions company Willis Towers Watson (WTW) has launched Radar Vision, an AI-based performance monitoring tool for insurers.

The Radar Vision tool complements Radar, WTW's insurance rating and analytics solution. WTW promises that Radar Vision will deliver enhanced underwriting profitability, new growth opportunities, and reduced costs. 

"Insurers in today's market deploy and maintain large, expansive predictive model real estates, including increasingly complex machine learning models," said Laura Doddington, Head of Personal and Commercial Lines Consulting and Technology, North America, at WTW, in a press release. "Radar Vision cuts through this complexity to deliver automated model monitoring that discovers actionable insights faster, offering a competitive edge and driving business performance. We built Radar Vision specifically for insurers, representing the next milestone in predictive analytics and insurance business management."