Latest Artificial Intelligence Headlines
All the headlines from our Artificial Intelligence Topic Page, ordered by recency.
AI Specialist omni:us Awarded €1.6M from EU to Enhance AI-Powered Claims Platform
Sep 26 2019 // Artificial intelligence provider, omni:us has been awarded €1.6 million ($1.8 million) from the European Commission* to help it further develop its machine learning powered insurance claims platform. The grant to...
The Lowdown: Reimagining Research to Recognize Emerging Insurance Industry Trends
Sep 19 2019 // The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s...
The Missing Value Proposition of High Quality Agents
Sep 16 2019 // I was having dinner with a close friend who is retired, has no debt and has decent wealth. He asked me why I think he needs insurance. He was wondering if insurance at this stage of his life was a waste. My heart sank....
Crying Robots Aside, Insurance Industry Shouldn’t Fear Artificial Intelligence: Viewpoint
Aug 22 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
AI-Underwritten Insurance Premiums to Go From $1.3B to $20B Globally by 2024: Juniper
Aug 19 2019 // The value of global insurance premiums underwritten by artificial intelligence will exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019, according to new data from Juniper Research. This growth will be...
With Smarter, Joined-Up Pricing, There’s No Such Thing as a Bad Risk: Viewpoint
Aug 14 2019 // It’s a well-trodden truth in our industry that not all risks are created equal, and for insurers, that some risks are riskier than others. However, new technologies mean new avenues of innovation for insurers to...
How AI Advances ‘No-Touch’ Resolution of Workers Compensation Claims: Opinion
Aug 8 2019 // Many human hours are needed to sort, analyze and process workers compensation claims—the vast majority of which are low in value. The U.S. workers comp insurance market is forecast to earn revenues of $55 billion in...
Artificial Intelligence Helps to Contain Wildfires, Predict Wild Weather
Aug 5 2019 // On a tower in the Brazilian rainforest, a sentinel scans the horizon for the first signs of fire. Only these eyes aren’t human. They don’t blink or take breaks, and guided by artificial intelligence they can...
Insurance AI Firm RiskGenius Reports Additional Financing
Jul 17 2019 // RiskGenius, which provides natural language tools for improving the quality and accuracy of insurance policies, has completed a Series B financing led by Hudson Structured Capital Management. The company said it has also...
By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
SkyWatch.AI Launches On-Demand Drone Insurance in UK, Underwritten by Chaucer
Jul 15 2019 // SkyWatch.AI, the on-demand, telematics-based insurance platform, has launched in the United Kingdom following last year’s launch in the United States. SkyWatch.AI’s UK policies will be underwritten by specialty...
The Potential of Artificial Intelligence
Jul 15 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
What to Expect in Agency Technology
Jun 21 2019 // To say the agency technology space is robust is an understatement. Right now, the industry is seeing an “onslaught of technology available to enable agents and brokers to better manage, not only their business, but...
How Insurtech Will Revolutionize Inland Marine by Cutting Costs
Jun 17 2019 // Insurtech advances will soon drive down unacceptably high expense ratios in the inland marine sector, making it possible to insure even difficult-to-place, small or one-off inland marine risks at the best possible...
Al Specialists omni:us and FRISS Partner to Offer Claims, Fraud Detection Services
Jun 12 2019 // Two artificial intelligence providers — omni:us and FRISS — are teaming up to “supercharge” insurance claims management and fraud detection. omni:us is a provider of AI-based cognitive claims...
EU’s Landmark Data Privacy Law, GDPR, Already Providing Global Standard
May 23 2019 // A landmark European privacy law is making waves worldwide a year after it came into force, fundamentally changing the way data are handled as Facebook, Apple and Google face increasingly frequent complaints. Adopted on May...
Connecting the Dots in Agency Technology
May 20 2019 // To say the agency technology space is robust is an understatement. Right now, the industry is seeing an “onslaught of technology available to enable agents and brokers to better manage, not only their business, but...
Liberty Mutual Teams with MIT on Artificial Intelligence Research
May 10 2019 // The Massachusetts Institute of Technology (MIT) and Liberty Mutual Insurance announced a $25 million, five-year collaboration to support artificial intelligence (AI) research in computer vision, computer language...
Lloyd’s Invests in AI Startup Offering Liability Insurance Platform for Small Businesses
May 9 2019 // Lloyd’s announced it is investing in Layr, a cloud-based commercial insurance platform for small businesses looking to purchase liability insurance. The investment follows Layr’s successful trial in the...
Starr Adds SkyWatch Drone Insurance to Broker Platform
May 9 2019 // Starr Insurance Companies and SkyWatch Ltd. have expanded the SkyWatch.AI drone insurance program to allow drone operators to purchase insurance from Starr through a SkyWatch.AI link, which will be available on select...
