big data News

W.R. Berkley, Tokio Marine Lead Weather Analytics $17 Million Series B Funding

Weather Analytics, a provider of weather and predictive risk software for the insurance industry, reported that global insurers Tokio Marine HCC and W. R. Berkley Corp. together have funded a $17 million Series B financing round. With the new capital, …

China’s Fintech Investments in 2017 May Exceed 2016’s Record $10B: Accenture

Chinese financial-technology investments this year may exceed 2016’s record $10 billion as companies continue to raise funds for expansion and big banks grow their digital services, according to Accenture Plc. The country’s financial-services giants will probably ramp up investments in …

Re/Insurers Can Help Bridge Protection Gap with Technology: GA Report

Digital technologies can be harnessed by the re/insurance industry to narrow insurance protection gaps in developing and emerging markets, thereby improving societal resilience after natural disasters, according to a report published by the Geneva Association. However, the protection gap problem …

Tech Firms Collecting Data: How Much Do Consumers Know or Care?

Nearly every technology startup wants the same thing: more data. But in the rush to collect all manner of information about customers, tensions are rising in Silicon Valley over whether such practices amount to a form of surveillance that customers …

Is Soft Market Bottoming? A.M. Best Points to Some Promising Signs

Some observers believe the bottom of the reinsurance market may be in sight because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, according to a report published by A.M. Best. …

Insurtech Startups Attract Growing List of Traditional Insurer Partners

Listening to Andrew Rear talk about insurers, you wouldn’t think he works for one that’s been around for 136 years. The 46-year-old head of Munich Re’s Digital Partners unit has said the industry is “one of the last bastions of …

IBM Sees Advantage in Client Owning Watson-Generated Knowledge

IBM Chief Executive Officer Ginni Rometty sees proprietary data combined with artificial intelligence technology as the competitive advantage for companies going forward. When International Business Machines Corp. works with clients, it trains a unique version of its artificial intelligence technology, …

Big Data Gathered by Twitter Monitoring Could Cut Premiums – and Erode Privacy

When people take to Twitter to comment on the great evening they enjoyed with good food and wonderful friends, reducing their monthly insurance bill is probably the last thing on their mind. But such tweets could help insurers to price …

SLSOT Using Data to Better Communicate with Surplus Line Market Stakeholders

Surplus lines may not be the most widely understood segment of the property/casualty insurance industry but for risk managers of large organizations it’s often the go-to market for complicated risks for which standard insurance markets have little appetite. That was …

Swiss Re’s List of Emerging Risks Range from Blockchain Tech to Human Cyborgs

A fragmented Internet, continued experimentation with monetary policy and another round of economic crises in emerging markets top Swiss Re’s latest roundup of emerging risks to watch out for. Beyond those top three, the reinsurance giant covers everything from human-induced …