The transaction is expected to close early next year.

Leveraging telematics can improve risk assessments, streamline operations and improve fleet safety.

Michael Shashoua, senior editor of Digital Insurance, reported on developments from ITC Vegas Oct. 31-Nov. 2, 2023.

The cost of a data breach has risen 15% over the last 3 years, and ransomware costs have jumped 13% in the last year.

President Biden has directed government agencies to develop new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of artificial intelligence models.

Insurtechs launching an ethical AI consortium to set guidelines for AI use and actuaries considering the pros and cons of the new technology are among the ways AI is changing insurance.

Panelists emphasized the significance of a comprehensive data strategy and ethical AI use, along with the industry's potential for innovation.

New data from UKG reveals how far workplaces have yet to go in regards to making employees part of the decision making process.

Strategy executive Michael Mahaffey spoke about how the insurer's digital transformation is an ongoing effort, and the accelerated evolution of technology he sees.

New data from Avanade suggests that a widening skills gap is what companies need to address in the wake of AI.

Adopting data profiling and machine learning could propel the industry into a future of enhanced efficiency, better risk assessment and superior customer experiences.

Mind Foundry has raised $22 million in funding, the latest sign of growing demand to deploy AI.

Transformative technologies are increasing productivity and job satisfaction, as well as providing workers with essential upskilling.

A new Chubb report identifies business trends and evolving risks affecting mid-market companies.

As technology advances, risk assessment becomes increasingly complex and requires more advanced techniques.

Software can pull attributes out of a claim file to provide claims professionals with a risk assessment score for the likelihood that the claim file could go nuclear.

Don Vu, who previously worked at Northwestern Mutual and WeWork, will lead a new AI and data team.

Insurtechs able to optimize the explosion of better data to accurately model and price risk, will become a vital link in the fight against climate change.

More carriers are offering digital assistants in their mobile browser and in-app, according to the Q3 2023 Mobile Insurance Scorecard.

It is essential to keep in mind several regulatory considerations regarding data, cybersecurity, fairness and inclusion to stay ahead of the evolving supervisory and regulatory trends.