Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
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...
Biden Signs Sweeping Executive Order Regulating Artificial Intelligence
Oct 30 2023 // President Joe Biden is directing the US government to take a sweeping approach to artificial intelligence regulation, his most significant action yet to rein in an emerging technology that has sparked both concern and...
Insurtech Hippo Lays Off 20% of Employees
Oct 30 2023 // Insurtech Hippo Holdings said it has “initiated an organizational realignment” by laying off about 120 employees, or 20% of its workforce. The company said in a filing with the U.S. Securities and Exchange...
Insurtech Startup QuoteWell Comes Out of Stealth With $15M in Series A Funding
Oct 25 2023 // Tech-enabled commercial insurance wholesale brokerage QuoteWell announced its public launch to serve independent retail agents. Founded in 2021, the insurtech said it “helps agents who are often overlooked and given...
Governments and Firms Should Spend More on AI Safety, Say Top Researchers
Oct 24 2023 // Artificial intelligence companies and governments should allocate at least one third of their AI research and development funding to ensuring the safety and ethical use of the systems, top AI researchers said in a paper on...
Vesttoo Creditors Say Bankrupt Israeli Insurance Startup Should Liquidate
Oct 24 2023 // Vesttoo Ltd. creditors are seeking to take control of the bankrupt Israeli startup’s court proceedings, arguing the company should liquidate following revelations that its former executives helped create fraudulent...
Tech Update: AXA XL Launches Virtual Reality Training Solution for Risk Managers
Oct 23 2023 // AXA XL Risk Consulting announced the launch of AXA Immersive Solutions, an innovative training solution leveraging virtual reality (VR) and digital twin technologies. AXA Immersive Solutions gives AXA XL’s risk...
Music Publishers File Suit in Tennessee Against AI Company Over Song Lyrics
Oct 20 2023 // Oct 18 (Reuters) – Music publishers Universal Music, ABKCO and Concord Publishing sued artificial intelligence company Anthropic in Tennessee federal court this week, accusing it of misusing an...
