Data and information management

“Spot,” created by Boston Dynamics, known for its viral robot videos, and customized for Farmers, a P&C insurer, is the first collaboration of its kind.

In other news: Hippo launches Builders Program; handdii wins the 2021 ACORD Insurtech Innovation Challenge New York; Blockchain-backed title insurance launches in five states.

Many insurers are focused on ransomware risk protection even though other new vulnerabilities are emerging from remote work. Recent statistics point to a troubling increase in ransomware and phishing, web application attacks and other emerging cybercrime tactics.

A new report, IT’s Changing Mandate in an Age of Disruption conducted by the Economist Intelligence Unit, supported by Appian, suggests that to continue with various digital transformations and increase adaptability for the future, some IT improvements must be made.

In other news: Breeze's new hire; Guidewire acquires HazardHub; New York Life partners with Empathy.

Chief executives from across the business world are set to join President Joe Biden for a discussion Wednesday on how industry and the federal government can partner to improve cybersecurity in the face of debilitating ransomware and cyberattacks.

Consumers still trust established traditional insurance companies over newer insurtech startups. A majority of respondents said they would prefer to buy a policy from companies like AIG over startups like Lemonade.

With cyberattacks on the rise and demand for coverage surging, the $3 billion industry of protecting companies against hackers is at an inflection point.

More homes that had been excluded due to wildfire risk are insurable with more granular data, company says.

The Consumer Federation of America advises insurers to take certain steps to ensure policyholders who opt for usage-based insurance are protected.

Ramnik Bajaj is the company's new SVP and chief data and analytics officer.

A trove of company data was stolen, and CNA officials were locked out of their network, according to sources.

As this happens and expense ratios are driven down, only those carriers which can fully utilize analytics and data-augmented decision making in their underwriting process will be able to price effectively in the market.

Also: New data hire at Amerilife, European expansion at Insurify.

Touchless digital insurance has become a base requirement for business as people demand touchless transactions.

The industry needs high-quality data sources that can scientifically measure the threat and complement existing data elements

If a carrier’s model suggests a consumer is unlikely to bind, they can serve comparison ads from other carriers and make back some of the money they spend bringing non-converting shoppers to their website.

Robin Gordon will join on March 29.

Many insurers have a traditional, albeit risk-averse, data mindset as evidenced by their reliance on traditional data and avoidance of emerging data sources.

Not only does the quality of the data impact a carrier’s bottom line, it also affects their customers’ experience.