Experian QAS says the service enables more flexible, intelligent searching of sanctioned lists, decreasing the risk of compliance failures due to misspellings or common typographical mistakes. QASmedWatch is designed to search on an individual entry or process lists against the sanctioned files. The service is completely hosted and does not require any installation or data updates.
Advancements in estimating tools are helping insurers deliver faster and seamless digital claims, writes Marc Rothchild, EVP and head of claims at Xceedance.
Insurers will start relying on more advanced approaches to evaluating cyber risk, including continuous cyber risk monitoring.
Even if subsidized NFIP coverage ends, the technology can find more places where less risk makes insurance feasible, according to insurance and risk platform executives from Aon, Previsico and Lilypad Insurance.
Junior underwriters can gain support for their work from AI, and data handling to support underwriting improves, said insurance risk management experts from Cytora, Scor and AXA XL.
This year's 83% adoption rate is up from last year, but trails 2023's high of 92%.
Analyses show that generally speaking, companies that deploy AI the most are also recruiting more humans.
