State Farm and Allstate are no longer writing new homeowner policies in California. But some insurtechs argue that with better data, carriers can make more nuanced decisions.

It is important to leverage human-in-the-loop processes, rather than automating them away, and to surface relevant information for agents to help contextualize interactions with policyholders.

The chief information and operations officer said the company is working to give customers "seamless pickups" from voice to app to website.

So far, the bots are popular conversation partners. Character.AI users have sent 36 million messages to Mario, a character based on the Nintendo 64 version of the video game plumber.

As climate change continues to worsen extreme weather, damaging homes and wreaking havoc on crops, the need for more responsive insurance policies is growing.

Jim Ryan, who joined State Farm as an innovation executive at the start of 2023, spoke with Digital Insurance about his ideas for how to innovate technology and operations at the carrier, how telematics will continue to change auto coverage, and how tech advances can reduce risk.

The Connecticut insurer has banned employees from using OpenAI's public ChatGPT system, but its chief information officer's team is experimenting with at least three use cases for large language models internally, and she has much more on her tech roadmap.

Given advances in technology reviewing unstructured documents to identify and extract key terms and medical data can result in an expedited process.

When combined with machine learning, the data extrapolated from aerial imagery acts as a powerful tool in an insurer's toolkit.

Artificial intelligence has the potential to accelerate world-altering innovations, Google DeepMind executive Colin Murdoch said.

Having first focused on pet insurance, the seven-year-old firm has since expanded into parcel, fire, home and health products. It also insures digital assets from hacking and malware and theft.

The confluence of the right tech, models, and curated property data empowers the underwriter – and insurers at scale – to better write and manage wildfire risk.

It can be hard to explain rationally why a digital insurance solution is trusted or not by customers, according to Burr, who is CEO of the iptiQ unit of the insurance company.

US lawmakers on Thursday questioned how new rules for artificial intelligence can protect against the technology's risks without reinforcing the early advantages enjoyed by tech giants such as Microsoft and Google.

The best carriers provide agents with the tools that allow prospective customers the option to shop via chat, text and even in-app communications channels.

Grand Rapids, Michigan-based Acrisure is expected to be valued at well over $20 billion in an initial public offering, the people said, asking not to be identified discussing confidential information.

Coalition and Kin Insurance are named as two of the top fintechs this year.

And more career moves.

Whole swaths of business activity, from sales and marketing to customer operations, are set to become more embedded in software.