Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Meta Used Copyrighted Books for AI Training Despite Lawyers’ Warnings, Say Authors
Dec 13 2023 // Meta Platforms’ lawyers had warned it about the legal perils of using thousands of pirated books to train its AI models, but the company did it anyway, according to a new filing in a copyright infringement lawsuit...
Tech Update: Hiscox London Mkt, Google Collaborate to Boost Underwriting With AI
Dec 12 2023 // Hiscox, the specialist global insurer, has collaborated with Google Cloud to create the first AI-enhanced lead underwriting model in the London market insurance industry. The collaboration combines Hiscox London...
Microsoft Agrees to Union Contract Terms Governing Its Use of AI
Dec 11 2023 // Microsoft Corp. has agreed to union contract language governing its use of artificial intelligence, creating an avenue for workers to challenge how it deploys the evolving technology. As part of negotiations with the...
European Union Agrees Landmark Deal Governing Use of Artificial Intelligence
Dec 11 2023 // Europe on Friday reached a provisional deal on landmark European Union rules governing the use of artificial intelligence including governments’ use of AI in biometric surveillance and how to regulate AI systems such...
Markets/Coverages: Howden Launches European Cyber & Tech E&O Facility
Dec 8 2023 // Howden, the global insurance group, today announces the launch of one of the first dedicated European cyber and technology errors & omissions line slips for primary business. The product is led by Canopius and IQUW...
UK Data Protection Watchdog Warns Companies Over AI Use and Privacy
Dec 7 2023 // Britain’s data protection watchdog warned companies to consider people’s privacy rights whenever they use artificial intelligence (AI) or face not just fines but losing the public’s trust in the...
4 Other Tech Tools AgentSync Customers Love and Why
Dec 4 2023 // This post is part of a series sponsored by AgentSync. AgentSync customers know the speed, efficiency, and cost-savings a modern producer licensing and compliance solution brings to their workflows. They also know a thing...
Tech Firm Settles Over Failure to Accommodate Deaf Job Candidate
Dec 4 2023 // A San Diego-based technology firm for the hospitality industry has avoided a trial over charges it discriminated against a qualified deaf applicant from Massachusetts for a remote IT job. U.S. District Judge Richard G....
Insurtechs Unite to Launch InsurTech Coalition
Nov 30 2023 // Members from several insurtechs, including Boost, Branch, Clearcover, Lemonade and Root Insurance, published an open letter to the insurance industry announcing the launch of the InsurTech Coalition, a trade organization...
London’s Insurance, Finance Workers to See Biggest AI Impact: UK Report
Nov 29 2023 // Management consultants and City of London finance workers are among those most exposed to workplace changes ushered in by artificial intelligence, a new UK government report found, urging changes in schools and training...
US, Britain, Other Countries Ink Agreement to Make AI ‘Secure by Design’
Nov 28 2023 // The United States, Britain and more than a dozen other countries on Sunday unveiled what a senior U.S. official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue...
Artificial Intelligence Not Main Cause of Recent Insurance Layoffs: AM Best
Nov 15 2023 // AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that “it is too soon to cite AI as the leading...
Putting AI to Work Within the ‘Digital Round Trip’: Applied Systems CEO
Nov 15 2023 // The data is out there. The challenge is how to amass it, standardize it and make it useful. Taylor Rhodes, CEO of Applied Systems, stopped by the On Point podcast with host Peter Aartrijk to talk about the future of data...
Honeycomb Insurance, Using Tech to Bypass Property Inspections, Expands to Virginia
Nov 7 2023 // Honeycomb Insurance, a which says its technology eliminates the need for physical property inspections, has won regulator approval to write policies in Virginia. The company, which began operating in 2021, writes in 15...
Alibaba’s Ant Receives Chinese Government Nod to Roll Out AI Services
Nov 7 2023 // Ant Group Co., the fintech affiliate of Alibaba Group Holding Ltd., received approval from the Chinese government to roll out products powered by its large language model Bailing to the public. Bailing will be applied to...
Nike Sues New Balance, Skechers for Patent Infringement Over Sneaker Tech
Nov 7 2023 // Footwear giant Nike filed federal lawsuits on Monday against rivals New Balance and Skechers, accusing them of infringing patents related to Nike’s technology for making upper portions of sneakers. The lawsuits said...
Palo Alto Acquires Israeli Cyber Startup Talon in M&A Push
Nov 7 2023 // Palo Alto Networks Inc. agreed to buy Talon Cyber Security Ltd., marking the second acquisition of an Israeli peer within a week. The deal is valued at about $625 million, according to a person familiar with the plans who...
Insurtech Layr Closes $10M Funding to Expand Reach for Brokerage Platform
Nov 1 2023 // Layr, an Atlanta-based insurtech that promises to digitize insurance brokerage operations, said it has raised $10 million to expand operations, marketing and functionality. “One of every four dollars in the GDP goes...
Tech Update: AXA XL Launches Solution to Evaluate and Manage Water Risks
Oct 31 2023 // AXA XL Risk Consulting announced the launch of its Water Impact and Sustainability Evaluation (WISE) tool – a remote, customizable solution which helps risk managers to understand, evaluate and act on water risks. Amid a...
Threat of Haywire Artificial Intelligence Prompts Calls for Development Pause, AXA Says
Oct 31 2023 // Governments are ill-prepared for the hazards brought on by artificial intelligence and development should be paused, according to a new survey of risk specialists by insurance company AXA SA. Only 7% of almost 3,500 risk...
