Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Transforming Cyber and Tech E&O Insurance with Our RQB Platform
Oct 11 2024 // This post is part of a series sponsored by Selectsys. The demand for Cyber and Technology Errors & Omissions (Tech E&O) insurance is rapidly growing as businesses face an increasing array of digital threats and...
How Automation Enhances Insurance Operations
Oct 8 2024 // This post is part of a series sponsored by Selectsys. In today’s competitive insurance market, operational efficiency and accuracy are essential for success. Managing General Agents (MGAs), wholesalers, and carriers...
Auto Insurers Face Rising Repair Costs, EV and Tech Complexity in 2025: Report
Oct 7 2024 // Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to CCC Intelligent Solutions...
Using AI to Provide a More Human Claims Experience
Oct 7 2024 // The robots are coming — and in some cases, they’re here. Advancements in generative artificial intelligence are enhancing claims processes in many ways, from improving First Notices of Loss (FNOLs) to analyzing...
How Insurance Industry Can Use AI Safely and Ethically
Oct 7 2024 // Several types of artificial intelligence are already being adopted by various parts of the insurance industry and they have the potential to deliver extraordinary efficiency savings, opening the door for even more...
NC Town That Produces Quartz for Tech Products is Devastated by Helene
Oct 4 2024 // SPRUCE PINE, N.C. (AP) — Two North Carolina facilities that manufacture the high-purity quartz used for making semiconductors, solar panels and fiber-optic cables have been shut down by Hurricane Helene with no reopening...
The Chief Artificial Intelligence Officer: Leading AI Innovation and Risk Management
Oct 4 2024 // Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every...
Enhancing Underwriting Precision with AI and Cloud Technology: A Deep Dive into SelectsysTech’s RQB Platform
Oct 4 2024 // This post is part of a series sponsored by Selectsys. In today’s fast-paced insurance industry, precision in underwriting is not just a requirement—it’s a critical factor in maintaining competitiveness and...
California Governor Vetoes Bill to Create First-in-Nation AI Safety Measures
Oct 1 2024 // California Gov. Gavin Newsom vetoed a landmark bill aimed at establishing first-in-the-nation safety measures for large artificial intelligence models. The decision is a major blow to efforts attempting to rein in the...
Leveraging Automation in BPO to Drive Insurance Efficiency and Innovation
Sep 30 2024 // This post is part of a series sponsored by Selectsys. The insurance industry is undergoing significant transformation, driven by the adoption of automation in Business Process Outsourcing (BPO). By integrating technologies...
AI Being Used to Scam Small Business Owners, Says Nationwide Survey
Sep 26 2024 // Just when employees have learned to ignore scammy texts and emails from the boss, along comes the next generation of impersonation using artificial intelligence. Cybercriminals increasingly use generative AI, including...
FTC Crackdown on Companies Using AI Includes ‘Robot Lawyer,’ Content Generator
Sep 26 2024 // As its authority is routinely questioned, the Federal Trade Commission has filed complaints against five companies it said use artificial intelligence (AI) to “supercharge deceptive or unfair...
Markets/Coverages: Markel Expands Specialist Tech Insurance Offering in UK
Sep 26 2024 // Markel, the insurance operations within the Markel Group Inc., has launched an enhanced insurance proposition tailored to meet the evolving needs of the UK’s growing tech sector. The enhanced product, MarkelTech, is...
Insurance CEOs Talk Gen AI, Growth, Workforce Strategies
Sep 25 2024 // A much higher percentage of insurance chief executives say that generative AI is a top investment priority for their firms than peers in other industries, according to a survey report published by professional services...
7 in 10 Actuaries and Underwriters Worry About Being Replaced by AI
Sep 20 2024 // With the vast majority (91 percent) of insurance companies already investing in AI or planning to in the next five years, it’s not surprising that nearly 7 in 10 actuaries and underwriters are worried about being...
Ex-Google Executive’s Startup to Use AI to Forecast the Weather
Sep 19 2024 // A startup founded by a former Google executive aims to use artificial intelligence to improve weather forecasting, joining technology behemoths like Nvidia Corp. and Huawei Technologies Co. in an increasingly crowded...
People Moves: Vantage Promotes Granda to Head of Political Risk and Credit; Miller Taps Rance From Price Forbes Re to Lead Reinsurance Strategy and Innovation
Sep 19 2024 // This edition of International People Moves details appointments at the Bermuda-based re/insurer Vantage Group Holdings and the insurance broker Miller. A summary of these new hires follows here. Vantage Promotes Granda to...
Viewpoint: How Insurance Industry Can Use AI Safely and Ethically
Sep 18 2024 // Executive Summary: Artificial intelligence (AI) is on the brink of transforming most aspects of business, including insurance, but it needs to be used responsibly, according to Zywave Chief Technology Officer Doug Marquis,...
Leveraging AI in Insurance: How SelectsysTech’s AI OCR Bridge Transforms Data Extraction
Sep 18 2024 // This post is part of a series sponsored by Selectsys. Introduction In today’s data-driven world, the ability to quickly and accurately extract information from documents is crucial for the insurance industry. Manual...
The Wholesale Insurance Evolution: From Consolidation to Innovation
Sep 16 2024 // In a decade defined by disruption, the wholesale insurance market has adapted and evolved to meet the demands of an increasingly complex risk environment. The industry has been remarkable in its ability to pivot, innovate...
