insurance technology News

How and Why More Insurers Are Turning to Bots

As more bots handle claims and perform underwriting tasks, should human employees be concerned? Human industry experts say there’s no need to worry. Insurers in the U.S. and overseas are exploring the use of chatbots in their operations. According to …

Will Technology Make Insurance Obsolete?

“Will technology make insurance obsolete?” That was the stark question posed by William Hartnett, a former Microsoft and ACORD executive, in his opening address to the 2017 Global Insurance Symposium, April 26-27 in Des Moines. The annual event is sponsored …

Marsh Names IBM’s Drab as CEO of Technology Provider Dovetail Insurance

Insurance broker Marsh reported that Rich Drab has joined the firm as chief executive officer of Dovetail Insurance, a provider of insurance technology services for the U.S. small commercial market. In this role, Drab will focus on growing Dovetail’s business …

Betting on the Insurance Industry of Tomorrow at InsureTech Conference

There was a great turnout for the future of the insurance industry this week in Las Vegas. The occasion was the first InsureTech Connect Conference, which brought together an estimated 1,500 tech entrepreneurs, investors and insurance executives from around the …

Vertafore Names Zupon as CEO to Succeed Hawn

Insurance agency technology firm Vertafore announced that Amy Zupon will take over as chief executive officer effective October 3, succeeding Jeff Hawn who has been chairman and CEO since April 2015. Zupon joins Vertafore from P2 Energy Solutions where she …

Renters’ Insurance and Millennials: If You Make it Simple, They Will Come

There’s a new website aimed at changing the way millennials deal with buying insurance – but it’s focused on a widely under-served segment of the insurance market – renters’ insurance. Launched by two young insurance agents Tom Austin and Zachary …

Technology Enables Insurers to Verify Garaging Location, Mileage and More

Auto insurance companies now have a tool that lets them verify the garaging address of a vehicle, confirm the driver’s commuting mileage and obtain loss costs and premium differentials for the vehicle, all before binding the policy. GarageConfirm, a new …

Patriot National Buys Software Firm, Vikaran, and India Development Unit

Florida-based workers’ compensation outsourcing services firm Patriot National Inc. has acquired Vikaran Solutions, a Chicago-based insurance technology company, and its Pune, India-based software development center, MPCS. The company said total purchase price for both entities is approximately $10 million. The …

No Kidding: NetVU User Conference to Stream Live on IJ.com Thursday

A Vertafore insurance technology consultant, an insurance agency customer service representative, and an insurance carrier IT manager walk into a bar… What’s so funny about insurance technology? The answer will come this Thursday, March 26, at 1:00 pm ET/10:00 am …

Reports Show Insurers Lag Behind in Adopting Technology

At a time when the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are using developments such as telematics, or social …