Success demands an innovation-driven formula with four main components: speed, accuracy, scale and customer experience. To do this and change the economic equation, here are five efficiency strategies recommended by Verisk.

Nationwide’s Sarah Jacobs, vice president of personal lines product development, spoke with Digital Insurance about a recent survey on smart home devices and the future of IoT at Nationwide.

There were nine rounds of more than $20 million this month.

In other news: Zurich releases cyber risk survey results; Hertz and Uber to add 50,000 Teslas to network; Amica selects Shift Technology.

Keynova Group, a financial services intelligence firm specializing in benchmark insights, released its 2021 Small Commercial Insurance Scorecard report, which evaluates the small commercial insurance digital capabilities of the 10 largest U.S. carriers.

About four in 10 executives cited technology as their company’s greatest challenge, twice as many as in 2019, according to a new survey from LIMRA and Boston Consulting Group.

Tesla jumped as much as 6.7% to a record high of $970.84 in New York, before paring gains to 4.4%, with the company’s market valuation around $955 billion.

That’s the takeaway from an Aon Plc survey of 2,344 risk managers, chief risk officers and chief financial officers conducted in the second quarter. Cyber attacks were the No. 1 most-cited hazard, and more than half of the Top 10 risks executives say they face today are tied to the pandemic, according to survey results released Tuesday.

At this point in the insurance sector’s lifecycle, change is inevitable. Now more than ever, especially with the rise of technology and insurtechs, competition in the space is cutthroat. And that is why first and cheap are no longer going to cut it.

Insurance blockchain working group The Institutes RiskStream Collaborative has partnered with Trustlayer to build out an insurance verification proof of concept.

Deciding which transformation initiatives to tackle first should involve a careful examination of the dysfunction, importance and level of change resistance expected among stakeholders of any process that may be impacted.

The number of cyber insurance claims AGCS has seen has increased in the past few years, following along with general cyber risk trends. In 2020, the company received more than 1,000 in total, compared to 80 in 2016. This trend has continued into 2021.

Digital Insurance spoke with Maroun Mourad, president of global underwriting and leader of the life unit at Verisk about life insurance technology and what’s ahead for the industry.

Insurers should enhance the capabilities and broaden the roles of claims professionals to reap the benefits of advanced tools while maintaining personal engagement at moments that matter.

In other news: Algorithm calculates number of good health years; Hiro rebrands to Locket; Alliant launches diversity initiative.

The P&C industry has been on an automation path for many years. When the pandemic hit, it became a catalyst for accelerating automation and digital transformation.

15 startups will take part in hybrid virtual and in-person program

“A New Idea: Insurers Creating Ecosystems Delivering Value to The Policyholders,” a session during InsureTech Connect 2021 focused on the current changes occurring to accelerate solutions for consumers.

With so many touchpoints across the insurance industry, and so many potential use cases, there is a lot of room for innovation — and there is a lot of room for failure. As an early adopter of AI technology, Harmon shares some of his key insights.

Digital Insurance spoke with Angela Orbann, vice president of property, PI product management at Travelers about how technology can optimize a home insurance policy and how artificial intelligence and satellite imagery is helping insurers.