Bermuda's Insurtech Influence Grows at ITC Vegas 2025 Event
In October 2025, Bermuda marked its presence at ITC Vegas 2025, the premier global event dedicated to insurance technology innovation. A delegation comprising leaders from both public and private sectors of Bermuda attended the event, showcasing their commitment to driving transformation in the insurance industry through technology advancements. The Bermuda Business Development Agency (BDA) played a pivotal role in representing the jurisdiction, emphasizing its historical significance and ongoing leadership in the insurtech arena.
The BDA, which has taken the lead in coordinating Bermuda's representation at ITC Vegas for four consecutive years, was joined by influential organizations including the Bermuda Monetary Authority (BMA), CatX, Cactus, and OnRe. The agency's participation was multifaceted, involving sponsorship of the event and active engagement on the exhibition floor, where they conversed with potential investors and industry partners.
One major highlight from ITC Vegas was the annual Bermuda Reception hosted by the BDA. This event gathered key executives, entrepreneurs, and regulatory figures to exchange insights, foster partnerships, and discuss systematic growth within Bermuda's insurtech ecosystem. David Parker, Head of Business Development at BDA, expressed the value of such networking, stating, "It was a great year for connecting with leaders in the global insurance and technology fields, to hear about the latest trends, and find ways to attract additional investments to our jurisdiction." His sentiments underscore the BDA's commitment toward positioning Bermuda as a welcoming hub for innovation in the insurance sector.
An informative panel discussion, “Reimagining Usage-Based Insurance with Scalable Telematics Data Platform,” saw participation from Tiffany Austin of BMA. The panel, which included regulators from various jurisdictions such as New York, New Mexico, and the Cayman Islands, covered the implications of artificial intelligence on insurance frameworks and the sandbox innovation model. Austin highlighted how Bermuda’s regulatory environment promotes responsible experimentation, allowing for organic growth of new technologies, and enhancing the island's reputation as a leader in balanced regulation.
Further fueling optimism, the private sector representatives from Bermuda demonstrated their growth potential at the event. Companies like Meanwhile received acknowledgment for an impressive $82 million capital raise, indicative of investor confidence in Bermuda's thriving insurtech ecosystem. Moreover, CatX and Cactus, which had announced their merger just prior to the event, leveraged this gathering to promote synergy and partnership opportunities within the global risk transfer technology market.
Benedict Altier, President and COO of Cactus, shared his thoughts on the significance of such events, saying, "ITC Vegas provided us the chance to meet face to face with key potential collaborators and partners at an exciting time for growth for our company and for the industry as a whole in Bermuda." His remarks reflect the collective sentiments of many stakeholders who acknowledge Bermuda as an unparalleled environment for insurtech innovation.
With the momentum gained from ITC Vegas, Bermuda is set to continue showcasing its leadership in the insurance sector at the upcoming PWC Reinsurance Conference in November. The BDA remains dedicated to promoting Bermuda as a premier investment jurisdiction, focusing on strategic collaboration and business development initiatives. For more details about the BDA’s future events and industry initiatives, please visit BDA’s official website.
Overall, the active engagement at ITC Vegas not only highlights Bermuda’s pioneering role in the insurtech landscape but also sets a promising stage for future collaborations that drive innovation in the industry.
The BDA, which has taken the lead in coordinating Bermuda's representation at ITC Vegas for four consecutive years, was joined by influential organizations including the Bermuda Monetary Authority (BMA), CatX, Cactus, and OnRe. The agency's participation was multifaceted, involving sponsorship of the event and active engagement on the exhibition floor, where they conversed with potential investors and industry partners.
One major highlight from ITC Vegas was the annual Bermuda Reception hosted by the BDA. This event gathered key executives, entrepreneurs, and regulatory figures to exchange insights, foster partnerships, and discuss systematic growth within Bermuda's insurtech ecosystem. David Parker, Head of Business Development at BDA, expressed the value of such networking, stating, "It was a great year for connecting with leaders in the global insurance and technology fields, to hear about the latest trends, and find ways to attract additional investments to our jurisdiction." His sentiments underscore the BDA's commitment toward positioning Bermuda as a welcoming hub for innovation in the insurance sector.
An informative panel discussion, “Reimagining Usage-Based Insurance with Scalable Telematics Data Platform,” saw participation from Tiffany Austin of BMA. The panel, which included regulators from various jurisdictions such as New York, New Mexico, and the Cayman Islands, covered the implications of artificial intelligence on insurance frameworks and the sandbox innovation model. Austin highlighted how Bermuda’s regulatory environment promotes responsible experimentation, allowing for organic growth of new technologies, and enhancing the island's reputation as a leader in balanced regulation.
Further fueling optimism, the private sector representatives from Bermuda demonstrated their growth potential at the event. Companies like Meanwhile received acknowledgment for an impressive $82 million capital raise, indicative of investor confidence in Bermuda's thriving insurtech ecosystem. Moreover, CatX and Cactus, which had announced their merger just prior to the event, leveraged this gathering to promote synergy and partnership opportunities within the global risk transfer technology market.
Benedict Altier, President and COO of Cactus, shared his thoughts on the significance of such events, saying, "ITC Vegas provided us the chance to meet face to face with key potential collaborators and partners at an exciting time for growth for our company and for the industry as a whole in Bermuda." His remarks reflect the collective sentiments of many stakeholders who acknowledge Bermuda as an unparalleled environment for insurtech innovation.
With the momentum gained from ITC Vegas, Bermuda is set to continue showcasing its leadership in the insurance sector at the upcoming PWC Reinsurance Conference in November. The BDA remains dedicated to promoting Bermuda as a premier investment jurisdiction, focusing on strategic collaboration and business development initiatives. For more details about the BDA’s future events and industry initiatives, please visit BDA’s official website.
Overall, the active engagement at ITC Vegas not only highlights Bermuda’s pioneering role in the insurtech landscape but also sets a promising stage for future collaborations that drive innovation in the industry.
Topics Consumer Technology）
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