Insurance

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.

Adjusters across the insurance ecosystem are utilizing digital technology to assess, document and close claims.

Insurance risks are constantly evolving and the latest research from Digital Insurance highlights the factors insurers should be watching in 2024.

The reinsurer is working on how to use Gen AI to support decision-making without letting it fully automate decisions. PwC and others also see claims and customer service applications for the technology.