Insurance

Thailand plans to provide government-funded disaster insurance to about 30 million households in high-risk areas, while seeking to shift some of the growing cost of floods and other catastrophes to private insurers.

David Tobias, chief product officer at Nearmap, shared insights with Digital Insurance around how aerial imagery is used by insurers to better understand the impact of natural disasters.

California legislators introduced a bill Saturday that would update the state's wildfire response without shifting liability away from publicly traded utilities.

KKR & Co. is set to reap a $3.3 billion windfall from its deal to sell USI Insurance Services to Aon Plc for $17 billion, a significant exit for a unit that's invested its balance sheet in long-term private equity bets.

Evident, a data platform, issued its second annual survey of insurers' AI efforts, showing some insurers ranking much higher than last year.

Independent agents want increased AI usage and automation to address pain points, according to Ivans' latest report.

Pablo Palafox, CEO and co-founder at HappyRobot, shares a common mistake insurtechs make is leading with technology instead of the customers' problem.

The banks are tapping the brakes on their role as sale channels for Delaware Life Insurance Co. amid a U.S. investigation of billionaire financier Mark Walter's sprawling business empire.

More than one-third, 37%, of customers who use AI to research insurance options changed their policy as a result.

Human oversight would still be needed, especially for underwriting, industry experts say. Yet linking voice recognition with AI engines will put insurance agents jobs at risk, they add.

Andrew Engler, CEO and co-founder of the insurtech, shared that if a property owner is willing to invest in reducing the possibility of a catastrophic loss, it should translate into insurance value.

To find the most success with AI, insurance companies should view it more as a way to fundamentally rework processes, according to the experts who write for InsureThink.

Introducing insurance options during the auto purchasing process correlates to a 20% boost in finance and insurance gross, according to Polly's Q2 embedded insurance report.

A plan backed by Democrats in the state senate wouldn't limit insurers from suing utility companies to recoup payouts to policyholders, according to a proposal seen by Bloomberg News on Tuesday.

Andrew Dalton, chief product officer, spoke about the challenges and risks presented by property data and how the MGA is using AI technology.

Mike Fiato, EVP and chief claims officer at Allstate, discusses The Allstate Claims University, a hands-on training campus in Dallas to simulate real-world damage situations and give employees practical experience.

The broker experience is determined not by how quickly a risk can be submitted, but by how efficiently and confidently a carrier evaluates it.

Insurance needs to stop treating its shrinking pool of checks as business as usual, especially when the data needed to manage the risk inside that pool already exists inside most carriers' own systems, writes Shareen Minor, chief revenue officer, U.S., at Vitesse.

Insurance claims tied to subsidence — a phenomenon associated with bouts of hot, dry weather that shrink the soil and destabilize the foundations on which buildings stand — hit a record last quarter, according to data provided by the Association of British Insurers.

Investors are committing almost 10 times as much as they were three years ago, but they are also setting higher standards for efficiency and profitability.