HSB partners with Flume; Kin expands into California: Insurtech news

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HSB partners with Flume

HSB, a specialty insurer that is a part of Munich Re, is partnering with Flume, a flow-based home water leak detection service. HSB signed an agreement to recommend The Flume Home Water Protection Service, which uses a sensor to monitor water flow and detect leaks, to insurance carriers and other partners to distribute the sensors to homeowners. 

John B. Riggs, chief technology officer for HSB and senior vice president of HSB Applied Technology Solutions, said in a statement: "We are pleased to add Flume's leak detection service to HSB's network of proprietary technologies and technology partners. The addition of Flume's water flow sensor system supports HSB's mission to help customers use the latest internet-connected technologies to protect their property and possessions. Flume's Home Water Protection Service gives homeowners peace of mind by helping to prevent and mitigate water leaks that can cause significant damage."

Amwins acquires Community Association Insurance Solutions

Amwins acquired Community Association Insurance Solutions (CAIS), a managing general agent (MGA). CAIS will continue operations as a part of Amwins Underwriting. Dowling Hales was the financial advisor to CAIS.

Ryan Armijo, president of Amwins Underwriting, said in a statement: "Bringing CAIS into the Amwins family is an exciting step for us. Their innovative technology, deep market expertise, and specialized products fit seamlessly with our commitment to delivering top-tier insurance solutions for community associations. We're looking forward to working together and expanding our capabilities to help our clients win."

Kin launches in California

Kin has expanded into California and is now offering a home insurance option in the state.

Sean Harper, CEO and founder of Kin, said in a statement: "Adapting to increased weather volatility is one of society's greatest challenges at the moment, and insurance will play a key role. There is a growing narrative that places like California are uninsurable, which actually implies they are uninhabitable.  We don't think that's true. California is insurable, and is an amazing place to live, but it will require new technology, new analytics and new business models, which is exactly why we created Kin."

Colorado FAIR Plan deploys ZestyAI risk analysis

The Colorado FAIR Plan, the state's insurer of last resort for high-risk residential and commercial properties, has started using ZestyAI climate and property risk analytics for wildfire, hail and wind risk assessments.

"Our mission is to ensure every Coloradan has access to insurance that reflects their property's actual risk, not outdated assumptions," said Kelly Campbell, Executive Director of the Colorado FAIR Plan, in a press release. "ZestyAI's models will help us bring greater resiliency to the market while equipping homeowners with practical mitigation guidance."

The plan will use granular risk data from ZestyAI to better align premiums with risk and provide homeowners with steps they can take to protect their property. Colorado's insurance regulator is aiming to get homeowners who mitigate risks off the FAIR Plan and onto competitively priced standard insurance. 

New Dawn Risk chooses Novidea insurance management platform

New Dawn Risk, an independent specialist Lloyd's insurance broker, focusing on professional and financial lines and cyber, has chosen Novidea's insurance management platform and Novidea subsidiary Docomotion, a document generation solution.

Using the Novidea platform and Docomotion, New Dawn Risk will be able to optimize its broking operations, from initial inquiry to quotation, policy issuance, risk management, and claims handling.