Insure Think

AI is just an algorithm that learns based on human tasks, and humans make mistakes.

The path to more effective hurricane preparedness lies in proactive planning, automation, and the efficient utilization of data and analytics.

Three steps to set the stage for easier connectivity to the tech platforms that agents can use to quote commercial insurance.

Artificial intelligence is providing insurers with the tools they need to accurately model cyberattack scenarios and develop more precise risk assessments.

The convergence of more frequent weather events that affect more people plus higher customer expectations make now a great time to get ready to communicate with the masses.

Insurers' tech strategies have expanded but enterprise-level policy administration systems remain a vital backbone.

Application programming interfaces act as intermediaries between back-end systems and technologies.

Insurance industry leaders must proactively develop risk mitigation strategies in order to optimize the use of Gen AI for insurers and their customers, alike

Climate change presents uncertainty for insurance companies but also creates opportunities for technological innovation

As the rest of the world becomes increasingly connected, consumers expect all aspects of their lives to be on-demand and seamlessly integrated into digital platforms.

A new research report from ReSource Pro examines how insurance tech vendors' strategies are evolving in the competitive labor market.

Today, when life insurtechs start fundraising, VCs ask them about their loss ratios—an impact of the insurtech 1.0 market crashes. But this question signals that venture capitalists still have a nascent understanding of the overall insurtech ecosystem and the various business models within.

Telehealth providers and their insurance carriers must re-examine practices and processes to ensure that they remain compliant.

This year, in the spirit of innovation, Accenture used generative artificial intelligence to help distill and uncover trends, feeding submissions securely into its gen AI model.

Insurtech is transforming the workers' compensation segment through big data analytics, artificial intelligence, machine learning, wearable technology and more.

Understanding prompt engineering is crucial to fully capitalize on the possibility of the solutions.

Much of MGAs' success can be attributed to how versatile they can be.

Insurers need to find new ways to grow their business while mitigating the risk of employee burnout.

It can eliminate geographical barriers and allow teams to access and share data more freely.

The insurance industry will lose half its workforce between now and 2036 as almost 400,000 employees retire.

Agency networks and associations provide benefits historically harder to come by as a standalone business or agency.

Five best practices can assist in selecting and integrating generative AI data.

The industry may want to build its own large language model.

Embedding insurance policies within other products allows for more automation of the sales process than ever before.

Metrics can help determine what employees need to make the most of in-office time.

Rebuilding artificial intelligence algorithms to explicitly integrate transparency and overcome black box limitations.

Releasing an ESG report prepares you to address potential risks hidden in operations.

At too many accounting firms, no one knows what their technology teams are accomplishing.

The chief financial officer must play a crucial role in determining the strategy and tactics to automate and standardize key processes throughout the organization.

Companies can collect and analyze customer data to provide tailored offerings and targeted promotions based on customer behavior, preferences, and risk profiles.

Digital insurance companies could pay more to use banking services that have previously been virtually free as banks tighten regulations and increase prices.

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.

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.

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

Synthetic fraud — which combines real and false identifying information — has been a niche variety of identity theft for some time. But recent advancements in artificial intelligence and people's access to it might bring it into the mainstream in a big way.

Proposed legislation would give states, purchasers and researchers the data to paint a comprehensive picture of the state of U.S. healthcare.

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.

When combined with machine learning, the data extrapolated from aerial imagery acts as a powerful tool in an insurer's toolkit.

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

The confluence of the right tech, models, and curated property data empowers the underwriter – and insurers at scale – to better write and manage wildfire risk.

Gender diversity at the C-suite level is still lacking.

Automating the intake of unstructured data results in big improvements in efficiency.

The car is transforming rapidly and the opportunities to work with the vehicle ecosystem have never been more straightforward.

Issues behind insurers developing their own software or deciding to purchase an external solution and the pitfalls of both paths.

The best carriers provide agents with the tools that allow prospective customers the option to shop via chat, text and even in-app communications channels.

For insurance companies, the impacts of biodiversity loss could translate into growing underwriting risks, notably for insurance lines such as flood, crop, liability, life and health.

Embracing remote work and providing access to online training resources and professional development opportunities can attract high-caliber individuals.

The emerging area of connected insurance has the potential to help insurers prevent, mitigate, or lower potential risks relating to severe weather events.

Alison Borenstein, director of data science, Assurance IQ, shares three valuable lessons after years of building machine learning technology for agents.

If the U.S. and Canada don't develop a coherent framework for regulating the industry, North America risks broader losses to other growing industries, like fintech and artificial intelligence.