Insurance

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.

Biodiversity — including pollinating bees, marine life, rainforests and agricultural soil — is declining at an unprecedented rate as a result of exploitation, land-use change, pollution and extreme weather.

CorEvitas, based in Waltham, Massachusetts, operates nine patient data registries that drug companies and insurance providers use to source granular information about people suffering from various diseases as well as about the safety and effectiveness of treatments.

The Connecticut insurer has banned employees from using OpenAI's public ChatGPT system, but its chief information officer's team is experimenting with at least three use cases for large language models internally, and she has much more on her tech roadmap.

Bestow, Thrivent and Pacific Life all made the list of most-liked carriers in this sector.

There were more than 30 funding events in the insurtech sector between June 1 and June 30, 2023, according to a review by Digital Insurance.

Given advances in technology reviewing unstructured documents to identify and extract key terms and medical data can result in an expedited process.

Half the insurance workforce will retire over the next 15 years and the key to surviving the shift will be capturing, sharing and scaling the institutional knowledge of their most experienced producers.

The dispute is over a cyber attack from 2014 through 2015 that potentially exposed personal information of patients at UCLA Health.

The top four insurtech investors in the ranking had 13 combined investments at the end of Q1 2023.

Predictive models are a tool to address a business problem, not a solution.

Jeff Diem founded the insurtech to fix a problem he encountered as a residential damage contracting estimator: wildly divergent estimates of damage repair costs from contractors and insurance companies.

It can be hard to explain rationally why a digital insurance solution is trusted or not by customers, according to Burr, who is CEO of the iptiQ unit of the insurance company.

The first and fourth-largest home insurers in the Golden State won't issue new policies because of rising construction costs and exposure to catastrophes.