Underwriting

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

High theft risks for Kia and Hyundai cars, and repair cost risks for Teslas, have driven auto insurers to drop or modify coverage of those vehicles, which is forcing more auto policyholders to switch carriers.

CSAA used AI-powered aerial image analysis in a decision to not renew a homeowner's insurance policy in Northern California.

Digital Insurance's State of Insurance 2023 report also reveals that underwriting technology and staffing difficulties are top of mind for insurers.

In a tight economic environment, insurers and their insurtech partners are starting to move toward underwriting as a target area for transformation.

The dispute is over a cyber attack from 2014 through 2015 that potentially exposed personal information of patients at UCLA Health.

It's launching its Risk Exchange platform as a marketplace to connect underwriters with risk capital, including from institutional investors and insurance companies.

Groundspeed Analytics was seeking to raise venture capital funding when Insurance Quantified made the initial contact.

Baldwin Risk Partners has launched "Centers of Excellence"

Sessions held throughout Dig-In 2023 with panelists from insurers such as New York Life, Arch Insurance and CSAA Insurance Group discussed the importance of technology in insurance and how to use data effectively.

The MGA market in the P&C insurance industry is experiencing significant changes, driven by trends such as growth in the excess and surplus space, prioritizing speed to response over speed to market, and the emergence of parametric insurance.

The technologies safeguard insurers' ability to understand historical data and remotely apply those insights to risk modeling and underwriting.

There are other less obvious ways underwriters can use the technology, but one area is field underwriting.

Generative AI could further enhance automation of previously manual or even legacy technology processes.

Spun off from auto and home insurtech Cover, the blockchain-based reinsurance platform logs $35 million in coverage year-to-date

The system created by Nationwide and Generali was recently recognized for the 2023 Celent Model Insurer award for Digital and Emerging Technologies.

At an April 6 meeting, stakeholders in implementing a new state law discussed early requirements and more.

SafeGuard 360 breaks barriers separating different coverages.

Incomplete auto and property policy information contributed to a spike of losses in 2022

Using machine learning technology, the solution analyzes property features and flood risk information.