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What is the latest news in InsurTech?

Here is the list of top 3 latest news in InsurTech sector

Greenlight Re invests in South African InsurTech Click2Sure

Source of this news piece: https://www.intelligentinsurer.com/news/greenlight-re-invests-in-south-africa-based-insurtech-click2sure-16706

The South-Africa based Click2Sure has developed a platform for managing, distributing and purchasing insurance at the point of sale. The startup was founded in 2017 by Daniel Guasco (previously led Groupon South Africa) and Jacques Van Niekerk(served several e-commerce companies in South Africa). The move was welcomed by the Greenlight CEO Simon Burton who went on to say “We are pleased to be partnering with Click2sure and support Daniel and Jacques as they develop new ways for companies to engage and provide value to their customers. The Click2sure platform enables a radical transformation of the customer experience and a cost-effective way to deliver insurance products to under-served marketplaces.”

The Click2Sure founders commented “We are delighted by the financial investment, but more so by the endorsement of our unique full-stack, multiple digital platform capability, and potential. This partnership has brought global recognition to a South African business, and we welcome the insights that Greenlight Re Innovations will introduce to the platform.”

The investment was processed through the reinsurer’s insurtech unit Greenlight Re innovation which has started in March 2018.

InsurTech start-up Broker Insights has partnered with Zurich, Axa, Ecclesiastical and QBE

Source: https://www.insuranceage.co.uk/technology/3649746/insurtech-futures-four-major-insurers-join-ex-aviva-director-fraser-edmonds-platform

Broker Insights was launched in January 2018, founded by Fraser Edmond.  The company has partnered with Zurich, Axa, Ecclesiastical and QBE following to their partnership with Hiscox. The goal of Broker insights is to provide a data sharing platform where insurers can get insights into the U.K regional broker customer data.

According to the Broker insights, insurers will get an accurate view of opportunities available in their regional broker market. It is a great platform that will connect the right insurers to right brokers at the right time. With the help of this technology, customers will also get products that align with their requirements.

Deepak Soni, director of commercial intermediary at Axa, says that the Broker insights support Axa’s branch network focus.

He further added “This platform has real potential in further strengthening our relationships in regional markets across the UK and provide more opportunities to support independent brokers and customers alike,”

Driverless and autonomous cars to impact the InsurTech industry

Source: https://www.intelligentinsurer.com/news/autonomous-cars-will-shake-insurance-market-to-its-core-16698

At the Intelligent InsurTech Europe 2018 conference in London on October 15, Vincent Branch the CEO of Accelerate at AXA XL gave a presentation titled “ ‘Autonomy and the challenges for the risk & insurance industry’. He talked about the advent of vehicular autonomy and the driverless cars and their impact on the insurance industry.

He went on to explain the five levels of vehicular autonomy from level 0 – level 5. Level 0 means no autonomy and level 5 meaning completely autonomous.  Currently, the focus is on level 4 which means the optional participation of the human driver. According to him autonomy will not only change but will transform the world.

The cause of 90 percent accidents is human errors, and autonomous vehicles will reduce the accidents. Branch further added that efficient driving would alleviate the carbon dioxide emission up to 60%  and reduce the transport costs.

But, the main question comes into the picture that is how will the insurance claims be managed in the cases mentioned above.

Questions for the insurance industries as posed by Branch:

1.    Who is at fault for an autonomous vehicle accident?

2.    How will car ownership change?

3.   Can anyone steal a driverless car?

4.    Does insurance have the capacity to cope with such high magnitude changes?

These questions do not have the answer as of yet, but it will be a turning point for the insurance industry in the future, and the picture will be completely different as it is now.

InsurTech is a late bloomer field that is now seeing the light of innovation and technology. So, it is not surprising to see that new companies and start-ups are taking a plunge in the Insurance sector and giving it a push.  Artificial intelligence and machine learning form the crux of InsurTech, and we can expect some revolutionary changes soon.

For any InsurTech queries, reach us at hello@mantralabsglobal.com

 

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Why Netflix Broke Itself: Was It Success Rewritten Through Platform Engineering?

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Let’s take a trip back in time—2008. Netflix was nothing like the media juggernaut it is today. Back then, they were a DVD-rental-by-mail service trying to go digital. But here’s the kicker: they hit a major pitfall. The internet was booming, and people were binge-watching shows like never before, but Netflix’s infrastructure couldn’t handle the load. Their single, massive system—what techies call a “monolith”—was creaking under pressure. Slow load times and buffering wheels plagued the experience, a nightmare for any platform or app development company trying to scale

That’s when Netflix decided to do something wild—they broke their monolith into smaller pieces. It was microservices, the tech equivalent of turning one giant pizza into bite-sized slices. Instead of one colossal system doing everything from streaming to recommendations, each piece of Netflix’s architecture became a specialist—one service handled streaming, another handled recommendations, another managed user data, and so on.

But microservices alone weren’t enough. What if one slice of pizza burns? Would the rest of the meal be ruined? Netflix wasn’t about to let a burnt crust take down the whole operation. That’s when they introduced the Circuit Breaker Pattern—just like a home electrical circuit that prevents a total blackout when one fuse blows. Their famous Hystrix tool allowed services to fail without taking down the entire platform. 

Fast-forward to today: Netflix isn’t just serving you movie marathons, it’s a digital powerhouse, an icon in platform engineering; it’s deploying new code thousands of times per day without breaking a sweat. They handle 208 million subscribers streaming over 1 billion hours of content every week. Trends in Platform engineering transformed Netflix into an application dev platform with self-service capabilities, supporting app developers and fostering a culture of continuous deployment.

Did Netflix bring order to chaos?

Netflix didn’t just solve its own problem. They blazed the trail for a movement: platform engineering. Now, every company wants a piece of that action. What Netflix did was essentially build an internal platform that developers could innovate without dealing with infrastructure headaches, a dream scenario for any application developer or app development company seeking seamless workflows.

And it’s not just for the big players like Netflix anymore. Across industries, companies are using platform engineering to create Internal Developer Platforms (IDPs)—one-stop shops for mobile application developers to create, test, and deploy apps without waiting on traditional IT. According to Gartner, 80% of organizations will adopt platform engineering by 2025 because it makes everything faster and more efficient, a game-changer for any mobile app developer or development software firm.

All anybody has to do is to make sure the tools are actually connected and working together. To make the most of it. That’s where modern trends like self-service platforms and composable architectures come in. You build, you scale, you innovate.achieving what mobile app dev and web-based development needs And all without breaking a sweat.

Source: getport.io

Is Mantra Labs Redefining Platform Engineering?

We didn’t just learn from Netflix’s playbook; we’re writing our own chapters in platform engineering. One example of this? Our work with one of India’s leading private-sector general insurance companies.

Their existing DevOps system was like Netflix’s old monolith: complex, clunky, and slowing them down. Multiple teams, diverse workflows, and a lack of standardization were crippling their ability to innovate. Worse yet, they were stuck in a ticket-driven approach, which led to reactive fixes rather than proactive growth. Observability gaps meant they were often solving the wrong problems, without any real insight into what was happening under the hood.

That’s where Mantra Labs stepped in. Mantra Labs brought in the pillars of platform engineering:

Standardization: We unified their workflows, creating a single source of truth for teams across the board.

Customization:  Our tailored platform engineering approach addressed the unique demands of their various application development teams.

Traceability: With better observability tools, they could now track their workflows, giving them real-time insights into system health and potential bottlenecks—an essential feature for web and app development and agile software development.

We didn’t just slap a band-aid on the problem; we overhauled their entire infrastructure. By centralizing infrastructure management and removing the ticket-driven chaos, we gave them a self-service platform—where teams could deploy new code without waiting in line. The results? Faster workflows, better adoption of tools, and an infrastructure ready for future growth.

But we didn’t stop there. We solved the critical observability gaps—providing real-time data that helped the insurance giant avoid potential pitfalls before they happened. With our approach, they no longer had to “hope” that things would go right. They could see it happening in real-time which is a major advantage in cross-platform mobile application development and cloud-based web hosting.

The Future of Platform Engineering: What’s Next?

As we look forward, platform engineering will continue to drive innovation, enabling companies to build scalable, resilient systems that adapt to future challenges—whether it’s AI-driven automation or self-healing platforms.

If you’re ready to make the leap into platform engineering, Mantra Labs is here to guide you. Whether you’re aiming for smoother workflows, enhanced observability, or scalable infrastructure, we’ve got the tools and expertise to get you there.

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