Insurance

In other news: Embroker names new CEO and Swiss Re announced global head of property and casualty solutions.

Coterie Insurance, a small business insurance underwriter, is seeking to expand its ability to provide instant quotes and coverage with AI-powered data technology.

The move comes as incumbent truckmakers face the task of developing battery trucks that require fast-charging points with energy needs akin to small towns, and complex fuel-cell technology.

Both transactions are at an early stage and may not lead to a sale, said the people, who asked for anonymity to discuss the private information.

Digital Insurance's State of Insurance 2023 report also reveals that underwriting technology and staffing difficulties are top of mind for insurers.

Property and casualty players have struggled to maintain profitability as they deal with a greater frequency and severity of accidents, combined with higher costs to repair or replace damaged vehicles, as well as heightened costs linked to extreme weather events.

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.

Attorney Jason Rosenthal explains how the case may affect other insurance companies.

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

In other news: Chewy expands pet insurance nationwide and Tokio Marine launches a market intelligence platform.