#Las Vegas #Bermuda #Insurtech #BDA

Bermuda's Growing Role in Insurtech at ITC Vegas 2025

Bermuda recently made a significant impact at ITC Vegas 2025, the largest conference dedicated to innovation in the insurance technology sector. A delegation comprised of both public and private sector leaders represented the island, emphasizing its commitment to driving advancement in the insurtech space. This annual event has become a pivotal platform for Bermuda to showcase its capabilities in fostering technological innovation, transparency, and a robust regulatory framework in the insurance industry.

Historically identified with its legacy insurance sector, Bermuda has evolved a landscape that blends extensive industry experience with modern technological advancements. The Bermuda Business Development Agency (BDA) led this year’s contingent, bringing together key players such as the Bermuda Monetary Authority (BMA) and several notable insurtech startups, including CatX, Cactus, and OnRe.

In its fourth consecutive year spearheading this initiative, the BDA not only sponsored the event but also established a presence on the exhibition floor. This platform provided opportunities for extensive networking, including discussions with investors and international partners, focused on potential collaborations and investments in emerging technology and insurance frameworks.

"This year has been particularly fruitful in terms of networking with industry leaders and gaining insights into the latest trends impacting our field,” stated David Parker, Head of Business Development at the BDA. He underscored Bermuda’s unique position as a powerful nexus for both traditional and innovative approaches to insurance, strategizing to attract fresh investment to the jurisdiction.

One of the highlights from the event was a panel discussion featuring Tiffany Austin, Assistant Director of FinTech at the BMA. Representing Bermuda, she joined her peers from different states and territories to engage in conversations around the intricacies of AI regulation and the opportunities presented by sandbox innovation models. Her contributions on Bermuda's Sandbox regulatory environment showcased how it nurtures responsible experimentation and fosters the development of pioneering technologies, affirming the island's role as a regulatory leader in this essential industry.

The private sector's representation was equally impressive, with Meanwhile announcing an $82 million capital raise during the conference; a clear indicator of investor confidence in Bermuda’s burgeoning insurtech ecosystem. Likewise, CatX and Cactus revealed their recent merger just prior to the event and utilized this occasion to meet with prospective partners and collaborators in the global risk transfer market.

"The atmosphere at ITC Vegas provided the perfect setting to strengthen our company connections during an exciting growth phase for both our enterprise and the sector at large in Bermuda,” remarked Benedict Altier, the President and COO of Cactus. He expressed optimism regarding Bermuda's environment as an unparalleled venue for sustained insurtech innovation, signaling their commitment toward building further success within their home territory.

With the momentum from ITC Vegas 2025, Bermuda is set to maintain its visibility and showcase its insurtech leadership in upcoming forums, including the PWC Reinsurance Conference in November. More information on the BDA's future events and initiatives can be found at their official website https://bda.bm/.

About the BDA

The Bermuda Business Development Agency (BDA) operates as an independent public-private partnership aimed at attracting and retaining commercial endeavors within Bermuda. The agency employs strategic development and collaboration with critical stakeholders to advance Bermuda as a premier jurisdiction for investment in the insurtech sector.