Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
FTC’s Holyoak Concerned AI Collecting Children’s Data
Nov 15 2024 // U.S. Federal Trade Commissioner Melissa Holyoak said on Thursday the agency should look into how artificial-intelligence products use the data they gather from younger users, amid privacy and safety concerns. Holyoak, one...
Argentina Fintech Ualá Raises $300 Million in Round Led by Allianz X
Nov 13 2024 // Argentine fintech company Ualá has raised $300 million from investors at a valuation of $2.75 billion, the latest funding haul for one of the most valuable startups in Latin America. The Series E round was led by Allianz...
AI Thermostats Pitched for Texas Homes to Relieve Stressed Grid
Nov 8 2024 // Three of the biggest names in US home energy automation are coming together to offer some relief to the beleaguered Texas electrical grid. Power supplier NRG Energy Inc. is partnering with Renew Home LLC to distribute...
Viewpoint: Are You Covered for AI Risks?
Nov 8 2024 // You can’t go anywhere without hearing about the impact of generative artificial intelligence on … well, everything. The insurance industry is not immune from these impacts; it has been affected by AI in countless...
Tech Update: WTW Unveils Machine-Led Solution to Enhance Insurance Reserving
Nov 8 2024 // Insurance broker WTW announced the launch of ResQ Machine-led Reserving, which WTW describes as a game-changing technology for insurers and reinsurers to enhance accuracy and efficiency in property/casualty reserving. ResQ...
‘Pivotal’ Q3 Sees Insurtech Root Achieves Net Income Profit for the First Time
Oct 31 2024 // For the first time in the company’s history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net income of about $23...
Aerospace Startup Partners With NASA, USGS to Monitor Wildfires, Storms From Space
Oct 31 2024 // Aerospace startup Sceye has partnered with NASA and the U.S. Geological Survey to deploy climate management tools to monitor wildfires and storms from the edge of space, the company and the government agencies exclusively...
AI Weapons Scanners in NYC Subway Found Zero Guns in Month Test
Oct 30 2024 // A pilot program testing AI-powered weapons scanners inside some New York City subway stations this summer did not detect any passengers with firearms — but falsely alerted more than 100 times, according to newly released...
Transforming Cyber and Tech E&O Insurance with Underwriter Link
Oct 30 2024 // This post is part of a series sponsored by Selectsys. As Cyber and Technology Errors & Omissions (Tech E&O) risks grow, insurers face increasing pressure to provide accurate, fast, and competitive coverage....
Program Uses AI to Send Cash Payments to 1,000 Households Hit by Hurricanes
Oct 29 2024 // Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people...
AI Chatbot Pushed Florida Teen to Suicide, Lawsuit Against Its Creator Alleges
Oct 29 2024 // In the final moments before he took his own life, 14-year-old Sewell Setzer III took out his phone and messaged the chatbot that had become his closest friend. For months, Sewell had become increasingly isolated from his...
Texas Grid Chief Says Big Tech Must Pay More for Power Upgrades
Oct 25 2024 // Technology giants developing big artificial intelligence data centers in Texas will need to pay more for electricity infrastructure upgrades to prevent those costs from burdening households and other businesses, according...
Parents of Student Disciplined for Using AI Sue School
Oct 25 2024 // The parents of a high school senior in Massachusetts argued in federal court in Boston on Tuesday that their son was unfairly punished for using artificial intelligence while researching a history project, harming his...
AI Push Sees Italy’s Intesa Axing 9,000 Jobs in ‘Generational’ Shift
Oct 24 2024 // Intesa Sanpaolo SpA is replacing thousands of staff with younger hires to set the firm up for the use of artificial intelligence, demonstrating how much the technology is impacting workers across the financial...
AIG Plans to Consolidate Atlanta Ops Into Innovation Hub
Oct 23 2024 // American International Group, better known as the global insurance enterprise AIG, said it will consolidate its Atlanta-area operations into a huge new innovation hub in Brookhaven, on the north side of the city. The...
SEC to Increase Scrutiny of AI Tools Used by Financial Brokers, Advisers
Oct 22 2024 // The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging...
Murdoch Firms Dow Jones and New York Post Sue Perplexity AI
Oct 21 2024 // Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted...
90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Oct 21 2024 // Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with...
Making Friends With the Future: Agency Tech Moving at a Faster Pace Than Ever Before
Oct 21 2024 // That used to be one of my biggest beefs as an agency owner — I have all of these pieces of tech and none of them talked to each other,” Vonda Copeland, co-owner and vice president of operations at Copeland...
Why Tech Matters in M&A
Oct 21 2024 // Technology and AI innovation makes an impact when it comes to merger and acquisition decision, according to Brooke DeWyze, chief development officer for Trucordia, formerly PCF Insurance Services. DeWyze, who spends her...
