Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Despite Deepfake and Bias Risks, AI Is Still Useful in Finance, Firms Told
Feb 15 2024 // A bank uses biased artificial intelligence outputs in a mortgage lending decision. An insurance firm’s AI produces racially homogeneous advertising images. Users of an AI system complain about a bad experience. These...
Microsoft Says it Caught Hackers From China, Russia and Iran Using its AI Tools
Feb 15 2024 // State-backed hackers from Russia, China, and Iran have been using tools from Microsoft-backed OpenAI to hone their skills and trick their targets, according to a report published on Wednesday. Microsoft said in its report...
Nearly 75% of Employers Don’t Have AI Protocols for Internal Communications: Study
Feb 13 2024 // Despite organizations’ increased adoption of artificial intelligence (AI), 71% don’t provide internal guidance on when, where or how to use the technology, according to Gallagher’s 2023/24 State of the...
EU Lawmakers Ratify Provisional Deal on Artificial Intelligence Rules
Feb 13 2024 // Two key groups of lawmakers at the European Parliament on Tuesday ratified a provisional agreement on landmark artificial intelligence rules ahead of a vote by the legislative assembly in April that will pave the way for...
What’s to Come in 2024: AI Expansion, More Catastrophes, Network Consolidation
Feb 13 2024 // No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal magazine asked industry thought leaders their...
Markets/Coverages: WTW Launches Primary Cyber, Tech E&O Facility for Int’l Clients
Feb 12 2024 // Insurance broker WTW has launched a cyber solution aimed at international clients headquartered outside of Great Britain and the United States with revenues up to US$1 billion (or the equivalent currency). The...
Top AI Companies Join Government Effort to Set Safety Standards
Feb 9 2024 // The top US artificial intelligence companies will participate in a government-led effort intended to craft federal standards on the technology to ensure that it’s deployed safely and responsibly, the Commerce...
Construction Insurtech Shepherd in California Raises $13.5M in Series A Funding
Feb 9 2024 // San Francisco, California-based insurtech Shepherd announced it raised a $13.5 million Series A funding round led by Costanoa Ventures with participation from Intact Ventures, Era Ventures, Greenlight Re and Spark...
Markets/Coverages: Corvus Expands Tech E&O; K2 OCONUS Workers Comp for Government Contractors; Xceedance’s MGA Agility Suite
Feb 8 2024 // Corvus Insurance introduced a newly expanded Tech E&O product with an enhanced appetite backed by Travelers. Smart Tech E+O from Corvus provides creative risk solutions for technology businesses across the spectrum of...
Safepoint’s Florida Startup, Manatee Insurance Exchange, Gets COA, Financial Ratings
Feb 7 2024 // Florida regulators have approved another reciprocal property insurance company and it has received ratings from two financial rating firms. Manatee Insurance Exchange, a spinoff from Tampa-based Safepoint Insurance Co.,...
EU Agrees to Path to Compete in Clean Tech Production
Feb 7 2024 // European Union policymakers agreed new rules on Tuesday to promote local production of equipment for solar and wind power, fuel cells and other clean technologies and help Europe’s industry compete with Chinese and...
Report: Top AI Trends for Insurers in 2024 Include Claims, Other Insurance Processes
Feb 5 2024 // Insurers are prepared for artificial intelligence to move beyond task automation and machine learning to advanced uses in 2024, a new report examining the industry and how it’s using AI shows. The report from...
What’s to Come in 2024: Hard Market, AI Expansion, More Catastrophes, Network Consolidation
Feb 5 2024 // No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal asked industry thought leaders their predictions for the...
France Now Backing EU AI Rules Ahead of Bloc Endorsement
Feb 2 2024 // France is now backing landmark European Union rules governing artificial intelligence subject to strict conditions, an EU diplomatic source said on Friday, after sources had previously said it was the last holdout in the...
AI-Driven Insurance Platform Indemn Raises $1.9 Million
Feb 1 2024 // New York-based Insurtech platform Indemn announced it has closed a $1.9 million pre-seed funding round. The round was led by venture capital firm Markd, with participation from Afterwork Ventures, Everywhere Ventures, and...
Aviation Sector Sees No Quick Tech Solution to GPS ‘Spoofing’ Interference Problem
Jan 30 2024 // Global regulators, aviation security specialists and manufacturers failed to reach an agreement on a quick technical fix to the problem of GPS spoofing near war zones at a meeting on Thursday [Jan. 25], instead calling for...
Markets/Coverages: Insurtech BOXX Partners With AXA to Offer Cyber Risk Mitigation for Small Businesses
Jan 30 2024 // BOXX Insurance, the Toronto-based cyber insurtech and managing general agent, has announced the launch of a cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small...
Insurtech Resilience Expands Cyber Risk Management to Clients of $10B in Revenue
Jan 30 2024 // San Francisco, California-based Resilience expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. The company reported that its expanded authorities come after a...
White House AI Council Meets as Legislative Action Stalls
Jan 29 2024 // The White House artificial intelligence council is meeting Monday, three months after President Joe Biden signed an executive order that aims to reduce the risks AI poses. White House Deputy Chief of Staff Bruce Reed, who...
Startup AiDash Raises $50M for Tech Using AI, Satellites to Spot Wildfire Risk
Jan 26 2024 // A California startup using artificial intelligence (AI) and satellites to spot fire and weather risks on power lines, AiDash, reported it had raised $50 million in new funding, reflecting Silicon Valley efforts to create...
