Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Michigan DIFS Bulletin Issues Guidance on AI Use in Insurance Industry
Aug 19 2024 // The Michigan Department of Insurance and Financial Services (DIFS) released a bulletin this month addressing the growing use of artificial intelligence in the insurance industry. The bulletin clarifies DIFS’...
McKinsey Sees AI Surge Boosting Consulting Amid Industry Slump
Aug 15 2024 // McKinsey & Co. is seeing an increase in the number of clients seeking artificial intelligence-linked projects, as faster adoption of the technology helps the consulting titan and its peers boost revenue following a...
Markets/Coverages: Liberty Mutual Re, Insurtech Sprout Offer Parametric Cover for Kenyan Coffee Farmers Facing Climate Risk
Aug 14 2024 // Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has partnered with insurtech firm Sprout Inc. and the Kenyan insurer Britam to launch a parametric insurance product, which aims to protect Kenyan...
Tech Update: Hiscox Launches GenAI-Powered Lead Underwriting Platform
Aug 13 2024 // Hiscox, the global specialist insurer, has launched the London insurance market’s first lead underwriting platform enhanced by generative AI, aiming to provide sabotage and terrorism insurance quotes to customers...
UK Cyber Spies Plan AI ‘Lab’ to Counter Hostile State Threats
Aug 13 2024 // UK spies are stepping up efforts to tackle cyber and artificial intelligence threats from hostile foreign states, including the sort of online manipulation that helped foment rioting across the country in the past 10...
Introducing CognilinkClaims: Sutherland’s Latest AI Breakthrough in Insurance Claims Management
Aug 8 2024 // Pittsford, NY. August 8, 2024 — Sutherland is excited to introduce CognilinkClaims, an innovative AI-powered solution that integrates Classic AI and Generative AI capabilities to redefine and streamline the entire...
Viewpoint: Generative AI in Insurance Isn’t Working
Aug 7 2024 // The insurance industry is at a pivotal moment in embracing generative AI. According to the ISG Pulse Check State of the European Insurance Industry 2024, insurance firms are actively engaged in generative AI...
Behind the Development of the AI Marketing Toolkit
Aug 5 2024 // In today’s fast-paced insurance market where time is more precious than ever, the ability to streamline operations and offload routine tasks is invaluable. Communication and relationships remain at the heart of what...
AI Startup Suno Says Music Industry Suit Aims to Stifle Competition
Aug 2 2024 // AI music startup Suno is pushing back against the world’s biggest record labels, saying in a court filing that a lawsuit they filed against the company aims to stifle competition. In a filing Thursday in federal...
New York City Turns to AI-Powered Scanners to Keep Guns Out of Subway
Jul 31 2024 // New York City is turning to AI-powered scanners in a new bid to keep guns out of its subway system, but the pilot program launched Friday is already being met with skepticism from riders and the threat of a lawsuit from...
6 Unique, Tech-Forward Tools to Aid in Loss Prevention in the Event of a Natural Disaster
Jul 30 2024 // This post is part of a series sponsored by AgentSync. As catastrophic natural disasters continue to wreak havoc on the property and casualty (P&C) insurance sector, loss prevention remains a high priority for insurers...
Harnessing the Power of AI: Revolutionizing Insurance
Jul 30 2024 // This post is part of a series sponsored by Dyad. In the dynamic world of insurance, staying ahead of the curve is paramount. With the advent of Artificial Intelligence (AI), players in insurance are experiencing a...
Elevating the Customer Experience: Innovations in the Insurance Industry
Jul 26 2024 // This post is part of a series sponsored by Dyad. In today’s rapidly evolving digital landscape, customer experience is paramount across all industries, including insurance. While traditionally viewed as a...
Outlook Positive, AI Use on the Rise for Independent Agents, Says Nationwide
Jul 25 2024 // Despite challenges posed by inflation, market volatility and rapidly changing technologies, independent agents remain positive about their businesses and report more optimistic perceptions of national business conditions...
WR Berkley CEO: Losses From Tech Outage Expected to Be ‘Manageable’
Jul 24 2024 // W.R. Berkley CEO W. Robert Berkley, Jr. said the company does not see last week’s global network systems outage “being a material loss to the organization.” “I would be surprised if we didn’t...
Applied Systems Acquires Insurance AI Platform Planck
Jul 24 2024 // Insurance software firm Applied Systems reports that it has acquired Planck, a leading artificial intelligence (AI) company for the insurance industry. Planck provides an AI-based data platform for commercial insurance. It...
Trigger Warning: Cyber Policy Wordings to Impact Coverage for Tech Outage
Jul 22 2024 // Industry stakeholders continue to try to get a grasp of the implications from last week’s massive technology outage affecting motley industries around the world, but the theme of policy language is reoccurring for a...
Insurers Face Business Interruption Claims After Global Tech Outage
Jul 22 2024 // Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm...
What Disruptions Have Been Reported After the Global Tech Outage?
Jul 19 2024 // A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of...
Global Tech Outage Disrupts Industries, Highlights Online Risks
Jul 19 2024 // A worldwide tech outage crippled industries from travel to finance on Friday before services started coming back online after hours of disruption, highlighting the risks of a global shift towards digital, interconnected...
