Insurance

So far, the bots are popular conversation partners. Character.AI users have sent 36 million messages to Mario, a character based on the Nintendo 64 version of the video game plumber.

The damage has triggered the highest insurance payout in almost two decades, with experts warning that it could get worse.

As climate change continues to worsen extreme weather, damaging homes and wreaking havoc on crops, the need for more responsive insurance policies is growing.

Local embedded and microinsurance models could provide immediate assistance to vulnerable low-income communities at risk of extreme climate events.

Mike Sha, CEO of SigFig writes that agents will need to go beyond insurance to offer more advice on every phase of the financial journey.

The president of Embrace Pet Insurance writes that the costs associated with providing high-quality care to pets have risen considerably. At Embrace, there has been a steady increase in average claim amounts year over year, with a 13% rise in 2023 compared to the previous year.

Jim Ryan, who joined State Farm as an innovation executive at the start of 2023, spoke with Digital Insurance about his ideas for how to innovate technology and operations at the carrier, how telematics will continue to change auto coverage, and how tech advances can reduce risk.

In a tight economic environment, insurers and their insurtech partners are starting to move toward underwriting as a target area for transformation.

By digitizing the payout process, insurers empower claimants to choose how money is received.

The Florida Insurance Guaranty Association is getting ready to head back to the market next week with a variable-rate bond deal after successfully selling fixed-rate bonds last week to help fund claims from insolvent insurance companies.