Insurtech News Weekly: July 29

Corvus Insurance plans to expand into Europe through a new office in Frankfurt, Germany.

Corvus is MGA’s AI-powered specialty insurance company that focuses on areas that include cyber, technology and property. The company pays for its digital platforms and tools to facilitate better replication and binding, as well as reduce risk.

Corvus explained that the new office will allow it to grow internally and continue to expand its offerings. The Boston-based company touts the move as a “first for US-based insurtech.”

“Frankfurt is at the heart of the world’s largest insurance market and the city has always been the center of international business,” Oliver Delvos, head of International at Corvus Insurance, said in a prepared statement. “We can spread our wings and expand our business directly to Europe.”

Up/NowCerts

Insurtechs Ascend and NowCerts are teaming up to integrate the management of operations and payments as well as the cost of supporting services.

Ascend is an insurance payment platform designed to automate payments, collections and payments. NowCerts is a cloud-based insurance management system used in areas including job management, ACORD forms, invoicing and more.

Their link is designed to help agents automatically pull the customer and privacy policy directly into Ascend to create links to pay the agency’s bills, and basic expenses.

Companies charge their contract as a first-come, first-served combination of all fees and initial fees for a single platform/service. This integration is designed to serve Ascend’s global customers and NowCerts 800-plus members.

Brewer Lane Ventures

Brewer Lane Ventures, a Boston-based firm focused on insurtech and other financial sectors, has added a new partner and promoted another.

The team hired Douglas Kim as a managing partner, and promoted David Castellani, from business partner to associate partner.

Kim will focus on partnering with founders to provide technical guidance and operational expertise as they grow their business. He has more than 30 years of experience in developing and running enterprise software businesses in customer engagement for AI and automation. He has helped acquire projects including Pega Cloud, a $250 million SaaS business for Pegasystems, Inc. and was CEO of NovaSoft, a content management company.

Castellani joined Brewer Lane Ventures in April 2021, initially as a principal. Previously, he was senior vice president and chief business information officer at New York Life, where he oversaw business technology and IT management. He has also founded two startups in the past, both focused on using technology to improve operations.

His friend

Counterpart, a leading technology-driven insurer with a focus on management risk cover, has launched a new Excess insurance policy for small businesses.

The cover is provided for directors and officers, work practices and fiduciary duties, with a maximum limit of $3 million. Sponsored by Aspen Insurance, the offering is available to small businesses with fewer than 250 employees and less than $250 million in assets and liabilities. Customers will be able to purchase the cover through Counterpart’s wholesale broker partners.

“Additional insurance is something we request the most from our dealers, and we’ve worked together to create a product that meets their needs and wants,” Mike Levins, head of insurance at Counterpart, said in a prepared statement.

BOXX

cyber insurtech BOXX has hired two new officers as it continues to expand globally.

Eric Newman is the new CEO of the Toronto company and Steve Penney has been hired as chief technology officer.

Newman, based in Palo Alto, Calif., has a history of deepening and expanding security and fraud prevention technology. Previously, he held leadership roles at companies including PayPal, RiskIQ, Pindrop, RSA Security and Silvertail Systems. In his new role, he will lead BOXX’s technology and data strategy and help expand its market.

Previously, Penney was at Deloitte, where he led technology strategy, marketing and transformation for a number of clients. He was also the leader of the digital transformation team at TELUS Communications, where he was responsible for the delivery, management and operations of TELUS’ digital programs and platforms, the company said.

Cover Genius

Digital MGA Cover Genius has acquired Booking Protect, an integrated ticket protection specialist for ticket sellers, platforms and event companies.

Neither party has disclosed financial details.

The partnership enables Cover Genius to expand its presence in the ticketing and live entertainment market by supporting ticketing platforms, small to mid-sized ticket sellers, events and venues, and Booking Protect’s 350-plus partners to provide integrated ticketing protection worldwide. through the company. XCover global distribution platform.