Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
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...
Google Settles AI-Related Chip Patent Lawsuit That Sought $1.67B
Jan 26 2024 // Google on Wednesday reached a settlement in a patent infringement lawsuit over chips that power the company’s artificial-intelligence technology, according to a filing in Massachusetts federal court. The settlement...
Erie Strategic Ventures Backs Wagmo, Roots Automation, Trust & Will
Jan 22 2024 // Erie Strategic Ventures, the venture capital arm of Erie Insurance, has announced investments in three new portfolio companies: Wagmo, Roots Automation and Trust & Will. The three investments support startups operating...
New York Proposes Guidance Governing Insurers’ Use of AI
Jan 17 2024 // New York State is proposing guidance for insurance carriers to prevent unfair discrimination in their use of artificial intelligence and external data sources in underwriting and pricing. A circular letter from...
Insurtech Foxquilt Announces Capacity Partnership With Markel
Jan 17 2024 // Foxquilt, a digital managing general agent specializing in embedded small business insurance technology, announced a strategic and long-term capacity relationship with global specialty insurance provider, Markel. Foxquilt...
Tennessee Launches Effort to Protect Songwriters and Singers from AI Mimickry
Jan 12 2024 // NASHVILLE, Tenn. (AP) — Tennessee Gov. Bill Lee on Wednesday unveiled new legislation designed to protect songwriters, performers and other music industry professionals against the potential dangers of artificial...
Andreessen Horowitz Backs British Insurance Startup in $73M Funding Round
Jan 11 2024 // U.S. venture capital firm Andreessen Horowitz has backed London-based insurance startup Hyperexponential in a $73 million funding round, the insurance software company said on Thursday. Founded in 2017, Hyperexponential...
At the Intersection of Tech and Insurance: Exploring MGA Funding Then and Now
Jan 11 2024 // This post is part of a series sponsored by AgentSync. Just a few years ago, Managing General Agencies (MGAs) were an attractive investment option in the insurtech space. But market turmoil and emerging industry challenges...
Maryland Governor Signs Order on AI Use, Creates Cybersecurity Task Force
Jan 10 2024 // Maryland Gov. Wes Moore on Monday announced a starting point for addressing the use of artificial intelligence in state government, as well as efforts to bolster cybersecurity. The governor signed an executive order that...
Microsoft, OpenAI Hit With New Lawsuit by Authors Over AI Training
Jan 8 2024 // OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors who say the companies misused their work to train the artificial-intelligence models behind the...
Questions on AI, Budget Deficit, Gun Owners Liability Await California Lawmakers
Jan 4 2024 // California lawmakers returned to work this week for the start of an election-year legislative session dominated by decisions on artificial intelligence and the state`s struggling budget. The budget is a big issue every...
FTC Streamlines Probes Related to Artificial Intelligence
Dec 22 2023 // Investigations of cases where artificial intelligence (AI) is used to break the law will be streamlined under a new process approved by the U.S. Federal Trade Commission, the agency said on Tuesday. The move, along with...
Rite Aid Banned From AI Facial Recognition by FTC After Misuse
Dec 21 2023 // Rite Aid Corp. must stop using facial recognition for the next five years as part of a privacy settlement with the US Federal Trade Commission, which said the pharmacy chain misused the technology to mistakenly tag...
Artificial Intelligence Can’t Be Named as Inventor for Patents: UK Top Court
Dec 20 2023 // Artificial intelligence programs can’t be named as an inventor for patents, the UK’s top court said in a crucial ruling that’s in line with decisions in the US and the European Union refusing to put...
Here’s What’s Next for the EU’s Landmark Artificial Intelligence Act
Dec 15 2023 // European Union countries and lawmakers last week agreed a provisional deal for artificial intelligence rules aimed at establishing guardrails for the rapid development of AI and setting a global standard in technology...
US Regulators Add Artificial Intelligence to Potential Financial System Risks
Dec 15 2023 // Rapid adoption of artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight...
Oklahoma Insurance Department Adopts Surplus Lines Automation Suite
Dec 14 2023 // The Oklahoma Insurance Department announced the adoption of the Surplus Lines Automation Suite (SLAS) for the reporting and payment of all Oklahoma surplus lines premium taxes beginning January 1, 2024. For all Oklahoma...
Allianz D&O Outlook: ESG Claims ‘Here to Stay’ and AI Rapping at the Door
Dec 14 2023 // While everyone may be talking about potential risks associated with generative artificial intelligence, a new directors & officers report from Allianz highlights a range of current concerns associated with...
Tech Update: Chubb and NetSPI Launch Cyber Protection Partnership
Dec 13 2023 // Chubb announced a collaboration with NetSPI, a global provider proactive security. The pairing is designed to strengthen clients’ cyber-risk profiles with enhanced attack surface management and penetration testing...
Agency E&O Webinar: Panelists Discuss Changing Exposures, AI & More
Dec 13 2023 // While today’s insurance agency errors and omissions market remains mostly stable, emerging exposures, cyber risk, natural disasters and more could shape its course ahead. Insurance Journal gathered three experts to...
