Generali’s AI Push, 4x Matts and Venture Clienting

Hello.

Yesterday I was on a call with a new client.
There were two Matts.
There were two Matteos.

It reminded me of this: Fewer Women Run Big Companies Than Men Named John.

The good news is there’s been progress:

Right, let’s get into it.

Open Innovation.
Client Venturing.
Venture Clienting.
Vendor Selection.

We’re hearing these terms more and more.

What’s the difference? Which to choose? Why is any of this important to insurance?

Read this. It’ll all become beautifully clear.

The plan is to explore how AI can provide competitive advantages in the insurance sector. I’m loving this.

Generali and its business units will work with three MIT research teams to develop new applications for existing AI solutions. The focus will be on advanced risk modelling, property and casualty claims assessment, and smart underwriting.

Nice work team Generali.

Healthy growth across North America

There’s been a LOT of health related news this past two weeks.

In Europe, health insurer Alan, shared some of their growth numbers.

The most impressive? In 2024 they generated €505m in revenue.
That said, they’re still not profitable. That will come in 2026.

And as Alan heads to Canada, fertility insurance platform Gaia heads to the US.

And to help it do that it has raised $14m.

We found these guys super early for a client of ours and I’ve been a fan ever since coming across them. Founded in 2019, Gaia initially focused on in-vitro fertilisation (IVF) services but has since broadened out to include egg freezing, egg donation, and embryo batching.

It currently operates across 57 locations through 23 clinic groups in the US where the average cost of an IVF treatment cycle is $15k – $25k, with success rates between 25% and 40%.

Another investment announcement comes from Allara Health.

They are a virtual care platform for women with chronic hormonal conditions and have just closed their $26m Series B.

The investment will support Allara’s expansion across the U.S.

Finally, another business I’ve written plenty about is The Helper Bees – a technology platform helping older adults live and age safely in their own home.

Swiss data. Italian underwriting

A few on the climate front.

Meteomatics, a Swiss weather data provider, has secured a $22m Series C to expand its operations and meet increasing demand.

But it’s not just insurance for these guys. They’re across the energy and agriculture space too.

Another good reminder to keep a look out beyond the usual ‘insurtech’ when scouting for partners.

Earlier stage Faura has just closed their Seed round at $3.5m.

Faura equips insurers with proprietary resilience models that analyse individual structures, pairing them with tailored mitigation plans. Their platform now addresses all five NATCAT risks—wildfire, hurricane, hail, flood, and earthquakes. Nice.

And back to our pals at Generali – the Generali Global Corporate & Commercial (GC&C) team has partnered with Twelve Capital, Lumyna Investments, and Descartes Underwriting to launch the Lumyna – Twelve Capital Parametric ILS Fund.

The fund will invest in parametric insurance, providing faster payouts and reducing claim management costs for natural catastrophe risks. I like it.

Backed by Generali’s underwriting expertise and Descartes’ risk assessment, it offers investors a scalable and diversified opportunity. Twelve Capital will manage the fund, leveraging its deep experience in insurance-linked securities.

AI vehicle inspections

In the vehicle inspection space, UVeye has raised $191m to enhance its AI-powered inspection tech.

The funding extends its Series D and supports expansion into Japan, the UK, Europe, and North America. Basically, the big insurance markets.

Their diagnostics can spot even the tiniest defects, boosting accuracy and cutting down inspection time for technicians.

And on a related note, Tallinn-based DriveX Technologies has secured €1.2m to improve its AI windshield damage detection.

All great stuff. But after renting a car in Turin this weekend, I’m reminded – sometimes, you just need the basics done right.

Like a quick human-powered check of the windscreen fluid. Maybe even the oil? Too much to ask?!

Ah, at least it gave me a chance to practice my Italian…😳

Investments. Partnerships.

Linking seamlessly to Italy…I know, you’re welcome…

Wopta Assicurazioni has successfully closed a funding round that brings its total financing to €12m.

With over 200,000 customers it plans to use the newly raised capital to accelerate growth through acquisitions, both in Italy and across Europe. It has also launched a €50m Series B round.

Another fundraise was from home insurer, Openly.

These guys brought in $193m – $123 million in equity capital, led by Eden Global Partners, and a $70 million senior note from Allianz X.

Participation from Allianz X builds upon a strategic reinsurance partnership between Openly and Allianz Re that has existed since 2023.

Tokio Marine HCC International has partnered with Optalitix.

The latter is a provider of data analytics and pricing solutions and will help TM to modernise its underwriting and pricing processes in the London Market.

And finally QBE and Ki have come together, with QBE capacity being added to the Ki platform.

Jason Harris, CEO of QBE International said something I liked:
“Digital follow is driving positive outcomes for the market, brokers and insureds by providing faster access to high quality capacity and more certainty of placement and complements traditional underwriting. We anticipate significant growth taking place over the next decade in this space.”

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And that is me.
Done.

Have a beautiful weekend all.

Matt

Make smarter decisions with AI-driven market intelligence.

Sønr helps (re)insurers around the world explore market trends, track competitor activity, and scout and assess best-in-class tech companies.

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