Bermuda Bolsters Insurtech Industry Momentum at ITC Vegas 2025

From touting homegrown insurtech partnerships to leading conversations on AI regulatory frameworks, Bermuda showcased public-private industry collaboration in the jurisdiction

LAS VEGAS, Oct. 31, 2025 /PRNewswire/ -- A contingent of public and private sector leaders from Bermuda attended ITC Vegas 2025 this month, the world's largest gathering for those passionate about driving innovation in insurance through technology. The group's participation in the annual event showcased the jurisdiction's ongoing leadership in innovation and regulatory excellence in the insurtech space, with industry roots reaching back decades into Bermuda's well-known legacy insurance sector.

During its fourth year leading the contingent's attendance at the conference, the Bermuda Business Development Agency (BDA) was joined by key public- and private-sector collaborators in the Bermuda insurtech industry, including the Bermuda Monetary Authority (BMA), Meanwhile, CatX, Cactus and OnRe.

In addition to sponsoring the event, the BDA also had a presence on the exhibition floor, hosting a series of discussions with investors, international partners, and technology investors. The delegation also hosted its annual Bermuda Reception, bringing together senior executives, regulators, and entrepreneurs to exchange insights and strengthen partnerships in the insurtech ecosystem.

"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," said David Parker, Head of Business Development at the BDA. "As the world continues to adapt from legacy insurance approaches, moving toward a more digital world, our forward-looking and flexible regulatory sandbox environment allows us to stay one step ahead and create a welcoming home for further growth in the space."

Tiffany Austin of the Bermuda Monetary Authority (BMA) participated in the panel "Reimagining Usage-Based Insurance with Scalable Telematics Data Platform" at the event, joining regulators from New York, New Mexico, and the Cayman Islands to discuss frameworks for artificial intelligence (AI) and sandbox innovation programmes. Sharing insights into the unique structure of the BMA's Sandbox, Tiffany highlighted how Bermuda's environment fosters responsible experimentation and organic growth in emerging technologies, positioning the island as a leader in balanced, forward-looking regulation.

Bermuda's private sector companies also had a strong showing of growth at ITC Vegas this year. Meanwhile announced an $82 million capital raise during the conference, signalling investor confidence in Bermuda's growing insurtech ecosystem. CatX and Cactus, which announced their merger just before the event, also attended to highlight their new partnership and meet with potential collaborators across the global risk-transfer technology market.

"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," said Benedict Altier, President & COO, Cactus. "Through establishing and growing our business on the island, we know that Bermuda offers an unmatched environment for insurtech innovation, and we're looking forward to continuing to build our business in the next phase of its evolution in our home territory."

Off the momentum from ITC Vegas 2025, Bermuda will continue to showcase its leadership in insurance spheres at the PWC Reinsurance Conference in November. You can learn more about the BDA's upcoming events and industry initiatives at https://bda.bm/.

About the BDA
The Bermuda Business Development Agency (BDA) is an independent public-private partnership dedicated to attracting and retaining business in Bermuda. Through strategic business development and collaboration with key stakeholders, the BDA promotes Bermuda as a premier investment jurisdiction.

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SOURCE Bermuda Business Development Agency