Benefitfocus’ technology, which follows the Software-as-a-Service (SaaS) model, is designed for CFOs, benefit administrators, human resource managers and their consultants. The program is designed to predict increases in claims and pharmacy expenses, audit for fraud, and allow users to pare down plans from the overall health plan level to the individual member explanation of benefits (EOB) level.
Automation and AI offer ways to tailor the shopping and management experience, but the digital interaction must be balanced with human support.
Consumer-facing applications like chatbots and personalized product recommendations make interactions faster, more tailored and more transparent.
Stand Insurance has raised $35 million in a Series B funding round to expand its artificial intelligence-powered coverage for homeowners.
Jay Koh, a private equity veteran and former Carlyle Group Inc. executive, says investors should be paying a lot more attention to the new economy forming around extreme weather.
AI is transforming every aspect of insurance from claims to underwriting, allowing carriers to personalize policies to customers' needs.
Preliminary insured losses for the first nine months of 2025 already stand at about $105 billion, according to a report Wednesday by Gallagher Re.
