Workers' compensation

Insurance policies are working hard to prevent financial fumbles.

There is a new active approach that promises to revolutionize the workers' comp landscape: artificial intelligence that analyzes workplace video to effectively lower risks, injuries and premiums.

The New York State Insurance Fund, one of the largest workers comp insurers in the U.S., got over 1,000 policyholders on board its new claims information app in its first week.

In other news: Markel names head of cargo and Aspida appoints CIO.

The Women in Insurance Leadership honoree also launched Cake Insure, a technology subsidiary of Pinnacol that allows small business owners to provide workers' comp insurance for employees.

Insurtech is transforming the workers' compensation segment through big data analytics, artificial intelligence, machine learning, wearable technology and more.

In other news: NEXT launches commercial excess liability and liquor liability coverages.

There were more than 40 funding events in the insurtech sector in July, according to a review by Digital Insurance.

As of March 27, 2023, the top five insurance companies had an average workers' comp market share of 5.55% and a combined marketshare of 27.76%.

The carrier and the payroll services provider are working together to increase the flexibility of workers comp underwriting, based on more up-to-date data.