Weekly News Roundup
Top InsurTech Headlines from November 2–8, 2026
Curated by InsurTech NY • Sources: company announcements, original research and industry reporting
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$340MAmdocs / EIS cash consideration
$75MKalepa Series B funding
44.6%Quarter-on-quarter decline in Q3 insurtech funding
Acquisition
Amdocs acquires insurance software provider EIS for $340 million
Amdocs announced on November 3 that it had acquired EIS for approximately $340 million in cash, with additional payments possible if performance targets are met.
San Francisco-based EIS supplies policy administration, billing, claims and customer engagement software. Its customers include Aflac, CSAA, Allstate and Desjardins.
The acquisition marks Amdocs’ entry into insurance after decades supplying technology to communications companies. Amdocs plans to combine EIS’ insurance systems with its own software and implementation capabilities, including technology developed for automating telecommunications operations.
Source: Amdocs acquisition announcement
Funding
Kalepa raises $75 million at a $470 million valuation
Insurance technology company Kalepa announced $75 million in Series B funding on November 5, valuing the business at $470 million. Updata Partners led the round, with participation from existing investors IA Ventures and Inspired Capital. Total funding now stands at $91 million.
Kalepa develops software for insurance operations, underwriting, pricing and portfolio management. Its customers include W.R. Berkley, Bowhead Specialty and AmRisc.
The company said it would use the capital to expand its products, enter new markets and double its workforce in 2027. It also reported tripling revenue and customer numbers over the past year.
Source: Kalepa funding announcement
Industry research
Insurtech funding falls 44.6%, but early-stage investment increases
Global insurtech funding fell 44.6% quarter on quarter to $1.36 billion in the third quarter, according to Gallagher Re’s report published November 5. The decline was driven primarily by reduced funding from rounds exceeding $100 million. Investment in those rounds fell from $1.67 billion to $660 million.
Early-stage funding moved in the opposite direction, increasing 20.1% to $317.29 million, with deal numbers rising from 54 to 56.
Companies Gallagher Re classified as AI-focused received 83.2% of quarterly funding. Insurers and reinsurers backed 25 technology investments, down from 51 a year earlier.
Source: Gallagher Re Q3 2026 Global InsurTech Report
Reinsurance capital
Aon and Blackstone funds announce new Lloyd’s reinsurance syndicate
Aon and funds managed by Blackstone announced Cortina syndicate 1956 on November 6, with QBE acting as managing agent.
The syndicate is intended to provide multiyear reinsurance capacity to participating Aon clients. It will take 3% of eligible property catastrophe excess-of-loss treaties and 5% of other eligible treaties arranged by Aon, following the lead reinsurers’ terms and claims decisions. Clients will receive a dividend reflecting efficiencies in the structure.
Cortina received in-principle approval in October. Underwriting is expected to begin on January 1, 2027, subject to final Lloyd’s approval.
Source: Aon Cortina announcement
Claims technology
Crash Champions deploys Mitchell estimating technology across 650-plus locations
Mitchell announced on November 3 that its Intelligent Estimating software was becoming available to US and Canadian collision repair businesses.
Crash Champions is the first multi-site operator to make the technology available across its US network of more than 650 repair centers, spanning 38 states and Washington, DC.
The software generates preliminary repair estimates from photographs of vehicle damage. Estimators then review, amend and submit the appraisal. Previously offered to insurers, the technology is now available to repair businesses as an add-on to Mitchell Cloud Estimating.
Source: Mitchell launch announcement
Funding
Lazarus AI raises $43 million with backing from QBE and State Farm Ventures
Boston-based Lazarus AI announced $43 million in funding on November 3, with investors including QBE, State Farm Ventures, Mucker Capital and Motivate Ventures.
The company develops enterprise software for document processing, cybersecurity and modernization of older technology systems. Its platform can operate on customers’ premises or within their cloud environments, serving insurers as well as government and other industries.
Lazarus said the funding would support research, product development and strategic partnerships. The announcement did not identify a lead investor or disclose a valuation.
Sources: Lazarus funding announcement via Business Wire; Lazarus AI
Insurance investment
Crestview invests in Novel Financial’s underwriting and reciprocal insurance platform
Novel Financial Holdings announced an investment from Crestview Partners on November 3 to support expansion across insurance underwriting and services. Financial terms were not disclosed.
Novel’s portfolio includes Forza Insurance Holdings, which owns the entities managing the SURE and Elevate reciprocal exchanges, and the GeoVera Nova group. The company said its managed carriers write approximately $2 billion in annual gross written premium.
Novel plans to expand into additional specialty and casualty lines while continuing partnerships with SageSure and other managing general agents. Its business combines underwriting income with fees from insurance management and related services.
Source: Novel investment announcement via Business Wire
