Insurtechs News from Digital Insurance

The most common mistake is treating AI governance as a documentation exercise that happens after deployment, rather than a requirement built into the system from the start.

AI coding tools are putting insurtechs on the spot to change their value proposition; meanwhile, many consumers find that AI tools are making them more comfortable talking to agents. 

Matthew Madsen of Accenture recommends that insurance company leaders get more "hands-on" with AI and get staffs more fluent with AI.

The enthusiasm around agentic AI in reserving isn't wrong but ahead of the infrastructure required.

Five insurtech CEOs share the advice they would give to their counterparts or themselves five years ago.

Half of consumers plan to use AI but also want an advisor who can relate to their life experience to review information at some point in the purchasing process, according to the Capgemini Research Institute and LIMRA.

With AI creating hidden risks that insurers must account for, some insurers leave these up to existing policies, others explicitly affirm they will cover AI risks, and a third set is excluding them.

Technology will enhance agents' abilities to serve clients, according to insurance risk expert Robert Hartwig of the University of South Carolina.

The build-versus-buy conversation is shifting hard toward build, and insurtechs must adapt to this change, according to Eoghan Scully, applied AI architect at Anthropic.

Technology, underwriting and claims remain the top needed roles for the insurance industry, according to the Jacobson Group and Aon's Semi-Annual U.S. Insurance Labor Market Study.

Insurers serving the growing microbusiness market must understand how digital risks to this segment are evolving and adapt accordingly.

The life insurer credits its leap to the top of LIMRA's rankings after a years-long push toward using AI to accelerate decisions and lower costs.

Insurtech executives share the biggest mistakes they see other insurtechs making.

With the right foundation, insurers can more fully embrace AI and realize the benefits it brings, writes Kevin Gaut, CTO of Instanda.

Evident, a data platform, issued its second annual survey of insurers' AI efforts, showing some insurers ranking much higher than last year.

Pablo Palafox, CEO and co-founder at HappyRobot, shares a common mistake insurtechs make is leading with technology instead of the customers' problem.

Human oversight would still be needed, especially for underwriting, industry experts say. Yet linking voice recognition with AI engines will put insurance agents jobs at risk, they add.

Andrew Engler, CEO and co-founder of the insurtech, shared that if a property owner is willing to invest in reducing the possibility of a catastrophic loss, it should translate into insurance value.

Andrew Dalton, chief product officer, spoke about the challenges and risks presented by property data and how the MGA is using AI technology.

Insurance expert Kenneth Saldanha says workflow and volume solutions are startups' biggest focus.