In this episode of The Connected Podcast, we delve into the major headlines from ITC Vegas 2025, a pivotal event for the insurance ecosystem. Key highlights include Bolttech's highly anticipated announcement, which stirred excitement despite details being scarce. The Bermuda insurtech scene marked a significant milestone by raising $82 million, showcasing burgeoning investor confidence in the region.
The merger of CatX and Cactus received attention as they sought new partnerships, while State Farm crowned the victor of its annual Startup Pitch Competition, featuring a live demo that underscored ongoing innovation. InnSure revealed winners of its $5 million Insurance Innovation Prize, emphasizing the industry's dedication to addressing climate change.
Majesco and SAS teased advancements in AI solutions aimed at transforming policy migrations and modernizing PAS systems. McKinsey & Company maintained their role as presenting sponsor, demonstrating their commitment to industry transformation. Arity's GeosightSM product presentation highlighted the impact of real-world driving data on territorial pricing.
Panel discussions with industry leaders like Hippo, Clearcover, and Marcus Ryu from Guidewire offered insights into the evolution from startup to market influencer. Fisent Technologies drew attention with their application of AI to enhance workflow efficiency by interpreting unstructured data, revolutionizing claims and submission processes.
Finally, innovative AI and data-driven solutions were showcased by prominent companies such as Shift Technology, Duck Creek Technologies, WNS, and Celent, all aimed at revolutionizing underwriting, claims, and customer experiences in the insurance sector.
In a recent episode of The Connected Podcast, the focus was on the dynamic developments within the insurance ecosystem for 2025. One Inc celebrated a significant year by expanding into the Canadian market with their ClaimsPay solution, integrating it through Guidewire, a well-established platform in the region. This move aims to enable Canadian insurers to adopt digital claims payments by 2026, marking an important step in One Inc’s global strategy. Their operations are currently processing $350 million in payments daily, showcasing diverse applications like lienholder payoffs and consumer wallets.
At InsureTech Connect 2025 in Las Vegas, SPLICE Software and Solvrays announced a strategic partnership to enhance insurer operations by combining SPLICE’s communication technology with Solvrays' automation engine. This collaboration promises improved workflow visibility and speed, crucial for insurers aiming for efficiency.
The event also highlighted a shift in the insurance industry’s innovation approach, as the focus moves from the feasibility of AI to evaluating partnerships that foster long-term growth. This shift marks a new era for underwriting and portfolio management.
Simultaneously, Westfield Specialty reported remarkable performance with a gross written premium of
