The news follows Astorg acquiring a minority stake of Acturis Group
Munich Re’s Digital Partners has selected ICE InsureTech as its preferred policy administration technology provider to support its growing stable of insurtechs.
Digital Partners has approved ICE InsureTech’s policy solution following a comprehensive selection process which included referencing existing customers of the insurtech.
It follows private equity firm Astorg acquiring a minority share of insurance software supplier Acturis Group.
ICE InsurTech is a platform for insurers, MGAs and claims managers and stands as one of four divisions within Acturis.
Mark Dennis, chief operating officer at Munich Re Digital Partners explained: “At the centre of our proposition is a network of best in class solution providers, and ICE InsureTech are a great fit for this model.
“ICE InsureTech has an established collaborative approach in engaging with insurance innovators, and this has been proven through their recent ICE Policy implementation at Richard King’s new telematics insurer, Ticker, for whom Munich Re are the capacity provider.”
ICE Policy is a scaleable digital PAS platform which claims to enable quick product development and deployment.
It allows users to create their own customer journey using APIs.
Andrew Passfield, chief executive at ICE InsureTech added: “We currently have one partner company already using our ICE Policy platform and several others are in discussion - we are looking forward to a mutually beneficial partnership.”
Munich Re established Digital Partners global venture with the vision “to develop an ecosystem that allows insurance start-ups to flourish.”
It offers insurance capacity for all lines of business and helps firms to implement their plans with venture capital financing alongside a partnership.
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