Latest InsurTech Headlines
All the headlines from our InsurTech Topic Page, ordered by recency.
Aerospace Startup Partners With NASA, USGS to Monitor Wildfires, Storms From Space
Oct 31 2024 // Aerospace startup Sceye has partnered with NASA and the U.S. Geological Survey to deploy climate management tools to monitor wildfires and storms from the edge of space, the company and the government agencies exclusively...
AI Weapons Scanners in NYC Subway Found Zero Guns in Month Test
Oct 30 2024 // A pilot program testing AI-powered weapons scanners inside some New York City subway stations this summer did not detect any passengers with firearms — but falsely alerted more than 100 times, according to newly released...
Transforming Cyber and Tech E&O Insurance with Underwriter Link
Oct 30 2024 // This post is part of a series sponsored by Selectsys. As Cyber and Technology Errors & Omissions (Tech E&O) risks grow, insurers face increasing pressure to provide accurate, fast, and competitive coverage....
Program Uses AI to Send Cash Payments to 1,000 Households Hit by Hurricanes
Oct 29 2024 // Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people...
AI Chatbot Pushed Florida Teen to Suicide, Lawsuit Against Its Creator Alleges
Oct 29 2024 // In the final moments before he took his own life, 14-year-old Sewell Setzer III took out his phone and messaged the chatbot that had become his closest friend. For months, Sewell had become increasingly isolated from his...
Texas Grid Chief Says Big Tech Must Pay More for Power Upgrades
Oct 25 2024 // Technology giants developing big artificial intelligence data centers in Texas will need to pay more for electricity infrastructure upgrades to prevent those costs from burdening households and other businesses, according...
Parents of Student Disciplined for Using AI Sue School
Oct 25 2024 // The parents of a high school senior in Massachusetts argued in federal court in Boston on Tuesday that their son was unfairly punished for using artificial intelligence while researching a history project, harming his...
AI Push Sees Italy’s Intesa Axing 9,000 Jobs in ‘Generational’ Shift
Oct 24 2024 // Intesa Sanpaolo SpA is replacing thousands of staff with younger hires to set the firm up for the use of artificial intelligence, demonstrating how much the technology is impacting workers across the financial...
AIG Plans to Consolidate Atlanta Ops Into Innovation Hub
Oct 23 2024 // American International Group, better known as the global insurance enterprise AIG, said it will consolidate its Atlanta-area operations into a huge new innovation hub in Brookhaven, on the north side of the city. The...
SEC to Increase Scrutiny of AI Tools Used by Financial Brokers, Advisers
Oct 22 2024 // The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging...
Murdoch Firms Dow Jones and New York Post Sue Perplexity AI
Oct 21 2024 // Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted...
90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Oct 21 2024 // Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with...
Making Friends With the Future: Agency Tech Moving at a Faster Pace Than Ever Before
Oct 21 2024 // That used to be one of my biggest beefs as an agency owner — I have all of these pieces of tech and none of them talked to each other,” Vonda Copeland, co-owner and vice president of operations at Copeland...
Why Tech Matters in M&A
Oct 21 2024 // Technology and AI innovation makes an impact when it comes to merger and acquisition decision, according to Brooke DeWyze, chief development officer for Trucordia, formerly PCF Insurance Services. DeWyze, who spends her...
Insurance Execs See Gen AI Necessary To Compete; Customers Wary
Oct 18 2024 // Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business...
Revolutionizing Submission Automation for MGAs and Wholesalers with AI-Powered Technology: From Email Intake to Quoting in Minutes
Oct 17 2024 // This post is part of a series sponsored by Selectsys. In the fast-paced insurance industry, MGAs and wholesalers are constantly challenged with managing large volumes of submissions from agents. Typically, gatekeepers...
New York Updates Financial Services Cybersecurity Regulation to Address AI Risks
Oct 17 2024 // The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 financial firms including insurers it regulates in addressing cybersecurity risks arising from artificial...
Insurtech on the Silicon Prairie to be Held in Omaha
Oct 17 2024 // The Nebraska Department of Insurance shared that Insurtech on the Silicon Prairie will take place in Omaha on Oct. 28-29, with topics including AI, autonomous vehicles, cybersecurity, venture capital, the role of AI in...
EU AI Act Checker Reveals Big Tech’s Compliance Pitfalls
Oct 17 2024 // Some of the most prominent artificial intelligence models are falling short of European regulations in key areas such as cybersecurity resilience and discriminatory output, according to data seen by Reuters. The EU had...
Risk & Insurance Education Alliance and BrokerTech Ventures Launch New Insurtech Insurance Course
Oct 15 2024 // Austin, TX., October 15, 2024 – The Risk & Insurance Education Alliance, in collaboration with BrokerTech Ventures (BTV), is proud to introduce its latest educational initiative, the Introduction to Insurance for...
