Latest Tech Headlines
All the headlines from our Tech Topic Page, ordered by recency.
10 Things You Could Be Spending Money On Instead of Maintaining Legacy Insurance Technology
Jun 11 2024 // This post is part of a series sponsored by AgentSync. The cost of legacy technology In 2023, companies in the financial services industry spent an average of 15 percent of their revenue on technology. Not only is that up...
Growing Reliance on Big Tech for AI Carries New Risks, Banks Say
Jun 7 2024 // The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI)...
Markets/Coverages: MGA Nirvana Renews Media, Tech & Cyber Binder With Increased Media Liability Line
Jun 7 2024 // Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £/$/€10 million...
Tech Update: USI’s Tech-Enabled Risk Control Platform; Baldwin Group Starts API-Connected Cyber Placements; AI-Based Workers Comp Fraud Detection at CLARA
Jun 6 2024 // USI Insurance Services (USI) announced the launch of PATH (patent pending), a proprietary technology-enabled risk control platform for clients. The new platform leverages industry-specific benchmark data to generate...
Google Ad Tech Class Action Gets Go Ahead From London Judges
Jun 5 2024 // London judges ruled a class action lawsuit to proceed against Google potentially seeking billions of pounds in damages over allegations it abused its dominance in digital advertising. The UK’s Competition Appeal...
Markets/Coverages: Sompo Offers Tech Insurance Cover for UK Middle Market Clients
Jun 5 2024 // Sompo announced the launch of a new technology insurance product for middle market clients in the United Kingdom. The package includes coverages comprising property, casualty, professional indemnity (PI) and cyber. Excess...
National Alliance for Insurance Education & Research Partners with BrokerTech Ventures to Launch a Foundational Insurance for Insurtech Professionals Course
Jun 3 2024 // Austin, TX., June 3, 2024 – In an innovative move to bridge the knowledge gap in the rapidly evolving insurance/insurtech landscape, The National Alliance for Insurance Education & Research has partnered with...
Virginia Tech Firm Settles Allegations Over Whites-Only Job Listing
May 30 2024 // A northern Virginia tech company is paying $38,500 to settle claims that it discriminated by posting a job listing seeking white, U.S.-born candidates for an opening as a business analyst. The Justice Department announced...
Markets/Coverages: Ariel Green Expands Tech Performance Ins. Consortium at Lloyd’s
May 29 2024 // Ariel Green, a division of Ariel Re, has expanded Lloyd’s first ever Technology Performance Insurance (TPI) Consortium. First launched in 2023, Ariel Green has renewed the consortium and grown the number of markets...
Remote Work, Aging Tech Targeted by Canada Cybersecurity Plan
May 24 2024 // Canada released its first-ever cybersecurity strategy for federal government departments and agencies on Wednesday, with the aim of addressing challenges posed by remote work, cloud computing, aging infrastructure and...
Viewpoint: How Liberty Specialty Markets Uses Tech for Claims Risk Management
May 22 2024 // Once perceived as intricate, time-consuming, and on occasion, frustrating, insurance claims processing has undergone a substantial transformation with the integration of new technological solutions. From artificial...
Empowering InsurTech: The Rise of Low-Code Solutions
May 20 2024 // This post is part of a series sponsored by Dyad. Technology is crucial in propelling innovation and efficiency within the constantly evolving insurance technology (InsurTech) sector. One of the most notable advancements in...
Kansas Governor Cites Competition Concerns While Vetoing Bill for School Gun-Detection Technology
May 17 2024 // Kansas Gov. Laura Kelly vetoed a measure Wednesday that could have earmarked up to $5 million for gun-detection systems in schools while expressing concern that it could have benefitted only one particular...
Tech Update: WTW, Riskonnect Launch Risk Diagnostic Tool for Workers’ Comp
May 13 2024 // Insurance broker WTW has formed a partnership with Riskonnect to pilot an analytical delivery tool that connects claims and exposure data through its new offering WTW Risk IQ API (application programming interface). The...
Google Fights $17 Billion UK Lawsuit Over Ad-Tech Practices
May 10 2024 // Google parent Alphabet has urged a London tribunal to block a mass lawsuit which accuses it of abusing its dominance in the online advertising market, in the latest case to focus on the search giant’s business...
Tech Update: Aon Updates Its Pricing Platform to Enhance Underwriting Decisions
May 10 2024 // Insurance broker Aon plc announced an update to its Pricing Platform that aims to bring enhanced visualization and automation capabilities to re/insurance underwriters. The software update has also added new business lines...
New Jersey to Launch Innovation Hub for Fintech and Insurtech Startups
May 8 2024 // New Jersey is creating a strategic innovation center for financial (fintech) and insurance (insurtech) technology startups in a partnership with Silicon Valley-based innovation platform Plug and Play. The new innovation...
Red Sea Disruption to Shipping Could Cut Asia-Europe Capacity by 20%: Maersk
May 6 2024 // Disruption to Red Sea container shipping is rising, Maersk said on Monday, forecasting this will cut the industry’s capacity between Asia and Europe by up to 20% in the second quarter. Maersk and other shipping...
Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech
May 6 2024 // Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO and reinsurance...
Tech Update: Marsh McLennan Launches AI Solution to Manage Supply Chain Risks
May 3 2024 // Marsh McLennan, the insurance and reinsurance broker, has launched Sentrisk, an artificial intelligence-powered platform, which aims to help businesses manage global supply chain risk. Created through the combined...
