Subject Root Tag

Prakash Ranjan, the vice president of marketing technology, will focus on the company’s goals to improve digital transformation and increase tech talent.

Many insurers anticipate an accelerated economic recovery, which can lead to additional digital technology investments in 2022. However, the challenges companies both big and small are facing due to a volatile risk environment continue to be both hurdles and motivators towards technology adoption. One of the pieces to help overcome these hurdles is talent.

The pandemic rollercoaster continues to rattle the insurance industry as we ride into 2022. One of the bright spots for our industry was the acceleration of technological innovation. All the uncertainty and changing consumer habits are fueling substantial changes in how insurance is marketed and sold by independent agencies.

Automatic emergency braking systems can detect and prevent pedestrian crashes, but lighting plays a role in the odds no matter the crash avoidance systems in place, according to a study from the Insurance Institute for Highway Safety.

Technology investment is showing no signs of slowing down, M&A continues at a torrid pace and the composition of the independent channel is shifting with generational changes. One thing remains certain: the independent channel has a lot to look forward to in the coming year.

The Guardian Life Insurance Co. of America has acquired a minority stake in private credit firm HPS Investment Partners in the latest move by insurers to increase their footprint in the direct lending market.

Born out of the insurtech MDGo, Sensa focuses on transmitting only crucial accident data for claims.

As 2022 gets under way, insurers have opportunities to boost their visibility beyond simply increasing their marketing spending.

Digital Insurance spoke with Steve Prymas, the chief insurance officer of Embroker, a digital insurance platform, about new products, cybersecurity and digital transformation within the industry.

The most common reason why business executives didn’t purchase executive risk coverages, like D&O, EPL and Fiduciary Liability, was that they didn’t believe the company was big enough to need it, according to a recent study from Coalition, a commercial insurtech.

The coverage is available for dogs and cats and includes diagnostic, procedural and other medical needs. Massachusetts is the 37th state where Lemonade offers pet insurance in the U.S.

Human Rights campaign awarded perfect scores to these organizations

Insurers that are able to make the best use of data are already winning market share, improving key ratios and generating superior risk intelligence, according to a report from the Capgemini Research Institute.

The demand for no-medical exam life insurance has grown in the last year, likely related to the COVID-19 pandemic. From October to December 2021, about 56% of applications submitted through Policygenius were for no-medical exam policies compared to January to March 2021, which was only 26%.

Expenses in the fourth quarter surged 43% from a year earlier to more than $11.6 billion, the Northbrook, Illinois-based insurer said Wednesday in a statement. Costs tied to property and casualty claims made up the majority of the increase.

Sixty-nine percent of employee caregivers say they took unpaid time off to support loved ones.

Mike Kreidler has adopted a temporary rule banning insurers from using credit information to set auto, homeowner and renters insurance rates. Kreidler initially issued an emergency rule in March 2021 but it was struck down by a court last year. The new rule goes into effect March 4.

The total losses and physical damages were estimated to cost $343 billion, well below the peak loss year in 2011 of $615 billion, however the 2021 losses, compared to 2011-2020 were about 4% higher than the average of $271 billion, according to the 2021 Weather, Climate and Catastrophe Insight report.

New appointments at Alliance Group and Corvus.

Also: Verisk and HOVER, Obie and Roofstock