Michael Shashoua

After the L.A. fires, a regulator's probe of State Farm claims practices and a looming wave of lawsuits expose gaps in the legal responsibilities of both insurers and policyholders.

Even before January's fires in Los Angeles, change-of-address data shows residential moves based on fire risks and insurance availability.

An executive from AU10TIX, an identity verification service that recently partnered with Microsoft to serve insurers' authentication needs, added that deepfakes are a top threat.

In an interview following remarks at Insurtech Insights, Sarah Jacobs, a product executive at Nationwide, said lowering costs is the first step to transform insurance's value proposition.

In an interview following remarks at Insurtech Insights, Lucy Pilko, CEO of AXA XL Americas, elaborated on what the insurance industry needs to benefit from AI in its operations.

Highlights from speakers and sessions at the Insurtech Insights conference and surrounding events in New York from June 3-5.

Plan sponsors can turn to narrow fiduciary liability coverage rather than broader cyber risk insurance, according to a bond and insurance firm executive.

Catastrophe risk information from government bodies and academic institutions would make it possible to insure more homeowners based on more granular assessment, according to insurance industry professionals.

Venture capital firms and insurers, led by Adams Street Partners, raised $162 million for the life insurance technology company.

The state's regulator said the insurer must show it will cover more homeowners, and be more transparent. Consumer advocates want more concessions, saying the insurance crisis can't be solved on the backs of homeowners.

U.S. and global insurance regulators have been paying more attention to AI operations. Insurers are advised to watch how they use AI for pricing and guard against bias.

Insurance companies should be transparent about AI models and their data processing, industry advisors said.

Garrett Droege, an innovation and risk executive at IMA, spoke about the demands agentic AI makes on smaller insurance companies, and how they can use the technology.

Consumer Watchdog says increase was not justified, while insurance commissioner points to concessions gained from the insurer.

Congress and Trump Administration calls for elimination of Federal Insurance Office and FEMA, if successful, would ripple through insurance and banking industries, say climate financial risk policy experts and officials.

Half of U.S. states allow the method of marketing to cyber security policyholders and clients, which has potential to reduce the impact of cyber incidents, according to research by The Institute for Security and Technology (IST).

While insurance carriers and insurtechs are excited about the technology, independent agents point to their unique hold on insurance customers.

Representative of the state's insurance industry tells regulator that insurers have to pass on the cost to stay solvent. Comments on the proposal are open through May 5.

Nick Gerhart, executive VP at the insurer specializing in funeral and end-of-life coverage, spoke about its technology advances, and the role of insurtech on a broader scale in the industry.

Growth in premiums flattened in the past two years after steep growth, but new MGA entrants in the space could fuel another rise.