Insurance

Life insurers are embarking on a digital transformation journey to leverage data technology.

Gen AI is particularly useful to search, generate, classify, cluster, and summarize information as well as extract valuable data and insights which could prove useful in the claims process.

Markel, Chubb, W.R. Berkley, Central Insurance and Ascot Group appointments.

Research from Deloitte and Gamma Iota Sigma reveal insights to help shape recruiting strategies.

The J.D. Power 2023 U.S. Claims Digital Experience Study shows overall customer satisfaction with digital experiences is down from last year.

More borrowers are taking action but lack good information, Fannie Mae finds. Meanwhile, premiums are up yet insurers struggle to profit, a separate KBRA study shows.

Digital Insurance's top AI insurance stories including topics related to Gen AI and regulations.

Manulife Financial Corp. agreed to reinsure $10 billion of reserves with KKR & Co.'s Global Atlantic Financial Group. The transaction is expected to be completed in the first half of next year, subject to regulatory approval.

The National Association of Insurance Commissioners, comprised of U.S. state insurance regulators, issued a policy bulletin calling for insurers to set governance and risk principles for the use of AI, and take responsibility for third-party data and systems.

Risk analytics essential to equip P&C insurers in California with the capabilities to precisely identify, evaluate and price risk.

Big data can tell carriers about potential customers and make a preliminary decision on their insurability.

Damage from severe thunderstorms — characterized by sudden downpours, fierce winds and hailstones — has been inching up by about 7% annually for 30 years, according to the analysis.

73% of insurance executives expect artificial intelligence to take their jobs, according to report.

Insurers are feeling the effects of the climate crisis but only 8% are currently attacking climate change head-on with strategic and proactive initiatives, according to Capgemini research.

There were about 40 funding events in the insurtech sector in November, according to a review by Digital Insurance.

Pan American Life Insurance found unauthorized third-parties took files that included personal information.

Instantaneous access to medical records and utilizing machine learning are changing how carriers bind life insurance policies.

The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.

The Senate Budget Committee, which Whitehouse chairs, is requesting information related to maximum claims Citizens Property Insurance Corp., an insurer of last resort, can pay without having to levy assessments on Florida policyholders.

Synchrony Financial bought Pets Best ahead of a pandemic-driven surge in the pet insurance business. Now it's selling the subsidiary for a $750 million after-tax gain.