Insurance

Responses from insurance professionals about insurtech related trends and uses for next year. 

The rise of online shopping during the holidays increases the prevalence of unlicensed shipping insurance and merchants must ensure any coverage offered follows regulatory requirements.

Engineers at the company are racing to make changes to algorithms on the device that measure a user's blood oxygen level — a feature that Masimo Corp. has argued infringes its patents.

The deal with landlord Ping An Insurance Group grants Lloyd's an option to stay until 2040, but also involves a commitment to invest in reducing the Grade I-listed building's energy footprint, the Financial Times reported.

The top five states have an average rate of uninsured drivers of 24.42%.

Now in his second year with GNY (Greater New York Mutual) Insurance Companies, CIO Vasudevan Veeraraghavan is leading a digital transformation of the insurer's data management to support decision making.

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.