innovation News

Lloyd’s Signs Deal with Artificial Intelligence Specialist, Expert System

Lloyd’s of London wants to infuse artificial intelligence (AI) technology into the daily business it does with its customers. The world’s largest insurance market signed a global deal with Expert System that will bring on cognitive automation, via the company’s …

Carpenter Appoints Yoder to Lead Global Innovation & Product Development

Guy Carpenter & Co., the reinsurance brokerage subsidiary of Marsh & McLennan Cos., has appointed Claude Yoder as managing director and global chief innovation and product officer, effective Sept. 18. Yoder is based in New York and reports to Rob …

Startupbootcamp Launches Insurtech Accelerator in Hartford

Startupbootcamp, a London-based insurance accelerator that focuses on identifying globally-located disruptive and collaborative insurance and technology innovations, has announced the launch of its new InsurTech Accelerator in Hartford, Conn., designed specifically to rapidly scale insurance-focused technology startups. The InsurTech Accelerator, …

Massachusetts’ Knight-Dik Insurance: 100 Years, Four Generations

When Thomas Babb launched his insurance agency – Thomas Babb Insurance Agency – in an 11-story building in downtown Worcester, Mass., in 1917, he also launched a legacy that would span a century of growth and four generations of leadership. …

AXA Launches Unit Focusing on Innovation, New Business Models with Phillips as CEO

AXA has appointed Joyce Phillips as chief executive officer of a new business unit dedicated to customer innovation and new business models. Phillips becomes a member of the management committee of AXA Group and reports directly to Thomas Buberl, CEO …

Disruptive Tech Dominates 2nd Annual Efma-Accenture Innovation Awards

Emerging technologies such as artificial intelligence, the internet of things (IoT) and blockchain were prominently featured among the winners of the second annual Efma-Accenture Innovation in Insurance awards. Aimed at showcasing the best examples of insurance technology innovations in multiple …

Technology Is Ultimate Savior of Insurance Industry: Opinion

Insurance companies are running out of ideas. They’ve bolstered their balance sheets since the financial crisis but have few racy growth prospects in a world of low interest rates, pricing pressure and regulatory hassles. Big mergers may be the most …

PwC Develops Blockchain Prototype for London Market Claims

PwC has created a working blockchain prototype for the London Market’s Target Operating Model (TOM) Innovation Exchange, which demonstrates how the technology can support claims bordereau management processes, the company said. Completed over a six-week period, PwC said, the proof …

Insurance CEOs More Concerned Than Others About Disrupters: PwC

Insurance CEOs are more concerned than leaders in other industries about combined disruptive threats to their revenue growth prospects, according to findings from the 20th annual “PwC Global CEO Survey.” PwC polled 95 insurance CEOs from 39 countries, who expect …

Swiss Re & SAP Partner to Develop Financial Steering & Reporting Solution

Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must …