ITC BRIEFINGS
ITC Announcements
[Ed. note: ICYMI - There were several announcements coming from ITC Vegas 2025 as the Fall conference season soon concludes. Many of our colleagues have dashed from ITC to SEMA, Connected Claims and Silicon Prairie in just the last two weeks]
Major Announcements and Highlights:
- Bolttech had a "major announcement" live on the main stage, though specific details of the news are not publicly detailed in the search results.
- A company operating in Bermuda announced an $82 million capital raise during the conference, signaling significant investor confidence in the Bermuda insurtech ecosystem.
- CatX and Cactus, which announced their merger just before the event, attended to highlight their new partnership and meet potential collaborators.
- State Farm announced the winner of its fourth annual Startup Pitch Competition. The winning early-stage company presented a live demo of its technology immediately following the announcement.
- InnSure, a non-profit organization focused on climate change solutions, announced the winners of its $5 million Insurance Innovation Prize.
- Several companies, including Majesco and SAS, teased the launch of "groundbreaking AI insurance business solutions" and "AI-powered policy migration and PAS modernization" during the event.
- McKinsey & Company returned as the event's presenting sponsor for the fourth consecutive year, highlighting their commitment to the industry's transformation.
Featured Company Sessions
- Arity Showcases End-to-End Insurance Solutions: Arity featured live demos of its GeosightSM product and discussed the use of real-world driving behavior data to refine territorial pricing, highlighting how mobility data is driving innovation.
- Companies like Hippo, Clearcover, and Lemonade participated in a panel discussion reflecting on their journeys from startups to influential market players over the past decade. Leaders from -
- Guidewire (Marcus Ryu), Prudential Financial (Mike Estep), and others also shared insights on the main stage.
- Many other companies, including Shift Technology, Duck Creek Technologies, WNS, and Celent, held sessions and exhibited their latest AI and data-driven solutions for underwriting, claims, and customer experience.
ITC Briefing: Fisent Targets Automation Gaps with AI That Understands Content
The startup says carriers are accelerating underwriting and claims by eliminating workflow stops
Toronto-based Fisent Technologies applies AI to automate one of the most persistent friction points in insurance—interpreting unstructured data and information that breaks workflow continuity.
“We focus on applying AI to business process automation, specifically information processing,” says founder and CEO Adrian Murray. “That’s really our whole thing. We’re narrow by design, but deeply focused on a very real problem.”
Fisent’s origin story traces back to the banking sector. Murray launched the company five years ago with a know-your-customer (KYC) automation platform that served commercial banks. But as he tells it, a revelation occurred when generative AI entered the scene in late 2022. “Everyone was thinking about generating information,” he recalls.
“Our insight was that the other side of generating information is interpreting it.” The team realized that interpretation—summarizing, classifying and extracting meaning—was the biggest automation gap in KYC processes. “We solved that problem first, and soon insurers began coming to us saying, if you can do that there, you can do it for claims, submissions, endorsements and other complex workflows.”
ITC Briefing: One Inc Extends Its Reach and Reinvents Claims Payments
The company’s Canadian launch and new partnerships illustrate how One Inc continues to expand its digital payments ecosystem while redefining what it means to deliver on the promise of insurance
For One Inc (Folsom, Calif.), 2025 has been another year of rapid expansion and product innovation.
“We’re still growing at a rapid pace—40 to 50 percent year-over-year—and we’ve done that consistently for the last five years,” says Kathy Tuite, Chief Marketing Officer, One Inc.
The company recently announced its expansion into Canada, introducing its flagship solution ClaimsPay to the Canadian property/casualty market through a pre-built integration in the Guidewire Marketplace.
The move, part of One Inc’s long-standing strategic partnership with Guidewire, will allow Canadian insurers to adopt embedded digital claims payments beginning in 2026. “Guidewire serves a large portion of the P&C market in Canada,” Tuite notes, calling the launch “a natural extension for us.”
CEO Ian Drysdale adds that the company’s international expansion coincides with deepening domestic growth. “We’re doing about $350 million a day in payments—that’s a billion every three days,” he says. “The big thing is that we’re just growing up the network. All these use cases—from lienholder payoffs to consumer wallets—are scaling fast.”
SPLICE Software and Solvrays Partner to Transform P&C and L&A Workflows Through Intelligent Communications and Agentic Automation
SPLICE Software and Solvrays announced a strategic partnership connecting enterprise-grade communications with agentic workflow automation to help insurers streamline operations, personalize outreach, and measure performance with real-time intelligence.
The collaboration—unveiled live from InsureTech Connect 2025 in Las Vegas—brings together SPLICE’s omnichannel communications platform and Solvrays’ agentic automation engine, enabling Property & Casualty (P&C) and Life & Annuities (L&A) carriers to move from communication to coordinated action seamlessly.
“Combining SPLICE’s AI voice, and text with Solvrays’ agentic workflow automation gives insurers the visibility and speed they’ve been missing,” said Tara Kelly, President & CEO of SPLICE Software.
“Now carriers and TPAs can automate the entire loop—from outreach to insight—with measurable impact,” added Bobbie Shrivastav, Co-Founder & CEO of Solvrays.
ITC 2025 recap: the future of insurance is AI-native - Federato
This year’s InsurTech Connect conference in Las Vegas felt different — not just in the scale of the announcements, but in the maturity of the conversation.
Across the expo floor, vendors unveiled new product lines, AI agents, and workflow orchestration tools. But what truly stood out wasn’t what was being built — it was how the industry is thinking about innovation itself.
Executives weren’t asking, “Can we use AI?” any more. They were asking, “Who can take us the distance?”
Here are three takeaways that stood out — and how they signal a new chapter for underwriting and portfolio management.
Financial Results
Westfield Specialty achieves 89.9% CR in Q3 as GWP reaches $1.4bn for the year
Westfield Specialty's gross written premium (GWP) climbed to $1.4bn in the first nine months of 2025, with a strong combined ratio of 89.9%, and underwriting income of $92 million pushing the business considerably ahead of planned results.
This success has been driven by an increased emphasis on diversifying Westfield's Specialty's underwriting lines and appetite, including renewal rights transactions, as well as expansion both through new and existing underwriting teams in the first half of 2025; those teams are now delivering excellent organic GWP growth.
The $1.4bn GWP splits almost evenly across regions, with 53% of GWP coming from the US business and 47% from Westfield Specialty's international operation, headquartered in London. The US produced $755mn in GWP with an 89.4% CR and International delivered $674mn in GWP with a 90.3% CR.
Jack Kuhn, President of Westfield Specialty, commented: "Our financial results so far this year underscore the effectiveness of our long-term sustainable growth strategy. Ongoing investments in the UK, US and Dubai have yielded strong results, and we remain committed to seeking new opportunities that enable us to further diversify our portfolio and support profitable growth. In a year that has also seen us undertake a successful leadership transition in the international business, I am particularly delighted by the results that we continue to see delivered by the London and Middle East teams."
InsurTech/M&A/Finance💰/Collaboration
Insurtech on the Silicon Prairie puts spotlight on AI, startups and regulators - Silicon Prairie News
On stage at this year’s Insurtech on the Silicon Prairie conference, Mike Lechtenberger, the chief information officer at Mutual of Omaha, recalled a meeting with other CIOs that sums up the state of artificial intelligence in the insurance industry.
“The question was asked: ‘Who’s getting positive ROI?’ In other words, are you getting the benefits of AI at scale? Nobody raised their hand,” Lechtenberger said. “But I guarantee you, every CIO in that room is working their butts off to try to create, scale, ROI benefits at their companies. And they will — we will.”
That confidence in the AI insurance future defined the Insurtech conference, held on Nov. 4 at the Holland Performing Arts Center in Omaha. Roughly 540 insurance executives, regulators and startup members attended from around the U.S. and the world.
Panels and speakers talked up the transformative value of AI while also highlighting challenges to its adoption. Insurance companies are built on complex and old tech systems, and are risk-averse to disruptive changes.
But as companies update their tech infrastructure, that’s an opportunity for startups, including those with AI solutions, to find clients and open markets. And the insurance world is hungry for those solutions.
Top insurtech funding rounds, October 2025 | Digital Insurance
There were about 65 funding events in the insurtech sector in October 2025, according to a review by Digital Insurance.
What follows is a selection of these, focusing on those in the insurtech and property & casualty sectors that are part of the venture-capital financing model. (Other funding events, such as private-equity infusions, are included in the overall count.)
A portion of the data was sourced from Crunchbase. Other information, including quotes from investing VCs, comes from company announcements. For our previous edition, which covered September, click here. These updates will continue monthly.
These summaries were crafted using AI and then reviewed by the Digital Insurance editorial team.
US InsurTech funding plummeted by 71% YoY in Q3
Cover Whale secured one of the top US InsurTech deals in Q3 as funding in the region plummeted by 71%
Key US InsurTech investment stats in Q3 2025:
- US InsurTech funding plummeted by 71% YoY in Q3
- New York emerged as the main hub for InsurTech deals as companies from the region secured four of the top 10 deals
- Cover Whale, a New York-based InsurTech specialising in connected insurance solutions for the commercial auto sector, secured one of the top US InsurTech deals of the quarter with a $40m equity investment
In Q3 2025, the US InsurTech sector recorded total funding of $559.5m across 32 deals, marking a sharp 71% decline in investment value compared to the $1.9bn raised in Q3 2024.
However, it is important to note that Q3 2024 included the $1bn Sedgwick deal, which was a major outlier and significantly inflated the previous year’s total.
When excluding this transaction, Q3 2024 funding amounted to $907.8m, representing a slower decline of 38% in total funding YoY.
Deal activity, in contrast, rose from 24 to 32 transactions, a 33% increase, indicating that while investment sizes were smaller, investor engagement within the sector remained active.
The data suggests that the US InsurTech market is experiencing a recalibration, with investors distributing capital more broadly across early- and mid-stage deals rather than concentrating it in large-scale funding rounds.
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Commentary/Opinion
Making Auto Insurance Affordable: Industry Executives Celebrate Florida Reforms
During earnings conference calls this week—one on Election Day, and the other two days later—leaders of two large personal lines insurers commented on affordability issues, highlighting the downward impact of Florida tort reforms on auto insurance prices.
“At a time when voters are clearly voting with their pocketbooks, this is really a golden opportunity for other states,” said Tom Wilson, president and chief executive officer of Allstate, suggesting that more states should “lean in” to the types of reform measures that took hold in Florida 2023.
“We really applaud the political leadership in Florida for taking on an important issue that’s a difficult issue, which is how do you lower suits against our customers for fender-bender accidents. Their courage is really helping Florida consumers save billions of dollars a year,” he said, referring to Florida government officials. “We’re happy, of course, because our customers are saving money. We will charge them less,” Wilson added.
AI in Insurance
Nationwide’s AI Era: CTO Guru Vasudeva on Scaling Transformation, Trust, and Talent
The insurer’s $1.5 billion investment through 2028 aims to embed AI across underwriting, claims, and service—while cultivating a workforce ready for the next industrial revolution.
Nationwide (Columbus, Ohio) is moving aggressively to define what an AI-powered insurer looks like. The company’s recent $1.5 billion technology and AI investment plan, which earmarks $100 million annually through 2028 for artificial intelligence, reflects both confidence in the technology’s transformative capacity and a determination to lead responsibly.
“This is as big as light bulbs,” says Guru Vasudeva, SVP and Chief Technology Officer for Property & Casualty, Nationwide. “We’ve been doing predictive modeling for 15 years, but this is different. Generative AI isn’t deterministic—you don’t have to program every step. The possibilities are enormous.”
The Impact of AI and Technological Disruption on the Insurance Workforce
Introduction
The rapid advancement of artificial intelligence (AI) and technological innovation has brought about profound changes in the insurance sector, challenging long-standing practices and reshaping the professional landscape for its workforce.
This article will argue that, while AI and technology have necessitated adaptation and presented significant challenges, they have also created opportunities for growth, skill development, and a more resilient industry.
As artificial intelligence continues to reshape the insurance landscape, its impact on workforce dynamics is both profound and multifaceted. Emerging technologies not only automate routine tasks but also encourage the development of new capabilities and career paths within the industry. Employees are increasingly expected to adapt to changing workflows and leverage AI-driven insights to enhance decision-making and customer engagement.
In light of these changes, workforce turnover remains a significant consideration; according to a recent Datos market analysis, presented in the Sapiens 2025 NA Customer Summit, the insurance industry is expected to see 400,000 retirements by 2026 — a trend that underscores the urgency of skill development and succession planning as companies navigate the future.
Through an examination of automation, skill transformation, operational efficiency, and ethical concerns, this article will demonstrate how the insurance workforce is evolving in response to technological disruption.
by Jonathan Cohen, Head of Cloud Application Services, North America P&C at Sapiens - Insurtech Israel News
Insurance Leaders Can Leverage AI to Become Industry Influencers
Executive Summary
When insurance leaders share ideas and points of view that make people think, they don’t just become visible and memorable experts in their fields. They can also grow their businesses by becoming top of mind with clients, prospects and partners. But how do they start? And where can they find the time?
Here Clare DeNicola, principal of the10company, offers some guidelines for would-be influencers to get some help from AI. Importantly, she also lists some AI don’ts, such as using AI to create a final product and losing your authentic voice in the process.
And the last question, “How many of you have shared your own posts on LinkedIn?” elicited just two raised.